Earnings per Share

3 Months Ended

Dec. 31, 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 December 31,
	2023	2022
Basic weighted-average shares outstanding	50.1	51.6
Effect of dilutive securities:
Options, RSE and PRSE awards	0.4	0.3
Total dilutive securities	0.4	0.3
Diluted weighted-average shares outstanding	50.5	51.9

The following weighted-average common shares were excluded from the calculation of diluted earnings per share because the effect of including these awards was antidilutive.


	Three Months Ended December 31,
	2023	2022
Option awards	1.3	1.0
RSE and PRSE awards	0.6	0.6