Earnings Per Share

12 Months Ended

Sep. 30, 2024

Note 4. Earnings per share

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Diluted earnings per share reflects the weighted-average number of shares outstanding after consideration of the dilutive effect of stock options, restricted stock units, and performance stock units.

The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:


	Year Ended September 30,
	2024		2023		2022
Numerator:
Net earnings	$	372,971	$	232,368	$	171,698
Denominator:
Basic shares outstanding		60,076		59,908		61,517
Dilutive effect of stock options; restricted and performance stock units		2,008		1,574		1,737
Diluted shares outstanding		62,084		61,482		63,254
Income per common share:
Basic earnings per share	$	6.21	$	3.88	$	2.79
Diluted earnings per share	$	6.01	$	3.78	$	2.71

The following stock option grants were outstanding but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:


	Year Ended September 30,
	2024		2023		2022
Options		63		561		1,019
Weighted-average option price	$	135.26	$	114.88	$	110.71

The weighted-average shares of common stock outstanding for basic and diluted earnings per share included the weighted-average treasury stock shares held for deferred compensation obligations of the following:


	Year Ended September 30,
	2024		2023		2022
Weighted-average treasury stock shares held for deferred compensation obligations		51		88		151