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Earnings per Share
 12 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings per Share

Note 22.

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):

 

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

2018

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income attributable to common stockholders

 

$

(690.9

)

 

$

862.9

 

 

$

1,906.1

 

Less: Distributed and undistributed income available to

   participating securities

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.2

)

Distributed and undistributed (loss) income available to

   common stockholders

 

$

(691.0

)

 

$

862.8

 

 

$

1,905.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

259.2

 

 

 

256.6

 

 

 

255.5

 

Effect of dilutive stock options and non-participating securities

 

 

—

 

 

 

2.5

 

 

 

4.3

 

Diluted weighted average shares outstanding

 

 

259.2

 

 

 

259.1

 

 

 

259.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share attributable to common

   stockholders

 

$

(2.67

)

 

$

3.36

 

 

$

7.46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted (loss) earnings per share attributable to common

   stockholders

 

$

(2.67

)

 

$

3.33

 

 

$

7.34

 

 

Options and restricted stock in the amount of 4.2 million, 1.3 million and 0.2 million common shares in fiscal 2020, 2019 and 2018, respectively, were not included in computing diluted earnings per share because the effect would have been antidilutive. The dilutive impact of the remaining awards outstanding in each year were included in the effect of dilutive securities.