Earnings Per Share

3 Months Ended

Dec. 31, 2019

Note 16.

Earnings Per Share

The restricted stock awards that we grant to non-employee directors are considered participating securities as they receive non-forfeitable rights to dividends at the same rate as our Common Stock. As participating securities, we include these instruments in the earnings allocation in computing earnings per share under the two-class method described in ASC 260, “Earnings per Share.” The following table sets forth the computation of basic and diluted earnings per share under the two-class method (in millions, except per share data):

	Three Months Ended
	December 31,
	2019		2018
Numerator:
Net income attributable to common stockholders	$	138.5	$	139.1

Denominator:
Basic weighted average shares outstanding		258.2		254.8
Effect of dilutive stock options and non- participating securities		1.7		4.7
Diluted weighted average shares outstanding		259.9		259.5

Basic earnings per share attributable to common stockholders	$	0.54	$	0.55
Diluted earnings per share attributable to common stockholders	$	0.53	$	0.54

During the three months ended December 31, 2019 and December 31, 2018 in the table above, the amount of distributed and undistributed income available to participating securities was de minimis and did not impact net income attributable to common stockholders.

Approximately 0.9 million and 0.9 million awards in the three months ended December 31, 2019 and December 31, 2018, respectively, were not included in computing diluted earnings per share because the effect would have been antidilutive.