Earnings Per Share

3 Months Ended

Dec. 31, 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, and performance stock units.

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


	Three Months Ended December 31,
	2024		2023
Numerator:
Net earnings	$	87,091	$	90,044
Denominator:
Basic shares outstanding		59,216		60,021
Dilutive effect of stock options; restricted and performance stock		1,925		1,825
Diluted shares outstanding		61,141		61,846
Income per common share:
Basic earnings per share	$	1.47	$	1.50
Diluted earnings per share	$	1.42	$	1.46

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


	Three Months Ended December 31,
	2024		2023
Awards and options		16		39
Weighted-average price	$	—	$	114.53

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:


	Three Months Ended December 31,
	2024		2023
Weighted-average treasury stock shares held for deferred compensation obligations		38		55