Earnings Per Share

9 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

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				Nine Months Ended
	June 30,				June 30,
	2020		2019		2020			2019
Numerator:
Net income attributable to common stockholders	$	178.5	$	252.6	$	465.1		$	552.1
Less: Distributed and undistributed income    available to participating securities		—		—		(0.1	)		—
Distributed and undistributed income available to    common stockholders	$	178.5	$	252.6	$	465.0		$	552.1
Denominator:
Basic weighted average shares outstanding		259.4		257.3		258.9			256.2
Effect of dilutive stock options and non-    participating securities		1.0		1.3		1.3			2.9
Diluted weighted average shares outstanding		260.4		258.6		260.2			259.1
Basic earnings per share attributable to common    stockholders	$	0.69	$	0.98	$	1.80		$	2.15
Diluted earnings per share attributable to common    stockholders	$	0.69	$	0.98	$	1.79		$	2.13

Approximately 4.0 million and 1.4 million awards in the three months ended June 30, 2020 and June 30, 2019, respectively, were not included in computing diluted earnings per share because the effect would have been antidilutive. Approximately 2.2 million and 1.3 million awards in the nine months ended June 30, 2020 and June 30, 2019, respectively, were not included in computing diluted earnings per share because the effect would have been antidilutive.