Earnings per share

6 Months Ended

Mar. 31, 2024

Basic earnings per share is based on the average number of common shares outstanding during the period. Diluted earnings per share is based on the average number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of restricted stock unit (RSU) awards, performance share awards and deferred compensation equity plans.

The following table sets forth the computation of basic and diluted earnings per share for the quarters and six months ended March 31, 2024 and 2023:


(in millions, except per share data)	For the Quarters Ended March 31,				For the Six Months Ended March 31,
Basic net earnings per share	2024		2023		2024		2023
Net earnings	$	32.4	$	40.0	$	34.3	$	89.0





Weighted average common shares outstanding - Basic	71.8		71.5		71.7		71.4



Basic net earnings per common share	$	0.45	$	0.56	$	0.48	$	1.25

Diluted net earnings per share




Weighted average common shares outstanding - Basic	71.8		71.5		71.7		71.4

Dilutive effect of RSU	0.3		0.4		0.4		0.3
Dilutive effect of performance shares	0.5		0.5		0.5		0.5
Dilutive effect of stock based deferred compensation plan	—		—		—		0.1

Weighted average common shares outstanding - Diluted	72.6		72.4		72.6		72.3

Diluted net earnings per common share	$	0.45	$	0.55	$	0.47	$	1.23

For the quarters ended March 31, 2024 and 2023, there were 0.5 million and 0.1 million antidilutive RSU shares, respectively, not included in the diluted net earnings per share calculation. For the six months ended March 31, 2024 and 2023, 0.5 million and 0.2 million RSU, respectively, were antidilutive and not included in the diluted net earnings per share calculation.

Performance based RSU shares of 1.3 million were excluded for the quarters and six months ended March 31, 2024 and 2023 as the performance targets for those awards have not been achieved as of the end of the applicable periods.