Earnings per Share

9 Months Ended

Jun. 30, 2023

Basic earnings per share is based on the weighted-average number of common shares outstanding during the period. Diluted earnings per share is based on the number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of share options, restricted share equivalent (“RSE”) and performance restricted share equivalent (“PRSE”) awards.

The following is the reconciliation between the number of weighted-average shares used in the basic and diluted earnings per share calculation:


	Three Months Ended June 30,		Nine Months Ended June 30,
	2023	2022	2023	2022
Basic weighted-average shares outstanding	51.1	52.5	51.3	53.5
Effect of dilutive securities:
Options, RSE and PRSE awards	0.7	0.6	0.6	0.6
Total dilutive securities	0.7	0.6	0.6	0.6
Diluted weighted-average shares outstanding	51.8	53.1	51.9	54.1

For the three and nine months ended June 30, 2023, the calculation of diluted weighted-average shares outstanding excludes 0.8 and 1.0, respectively, of share options and nil and nil, respectively, of RSE and PRSE awards because the effect of including these awards was anti-dilutive. For both the three and nine months ended June 30, 2022, the calculation of diluted weighted-average shares outstanding excludes 1.0 of share options. For the three and nine months ended June 30, 2022, the calculation excludes 0.5 and 0.3, respectively, of RSE and PRSE awards because the effect of including these awards was anti-dilutive.