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Earnings Per Share
 9 Months Ended
Jun. 28, 2013
Earnings Per Share

14. EARNINGS PER SHARE

Basic net earnings per share is computed by dividing net earnings by the weighted average number of shares of VMS common stock outstanding for the period. Diluted net earnings per share is computed by dividing net earnings by the sum of the weighted average number of common shares outstanding and dilutive common shares under the treasury stock method.

The following table sets forth the computation of net basic and diluted earnings per share:

 

 

Three Months Ended

 

  

Nine Months Ended

 

(In thousands, except per share amounts)

June 28,
2013

 

  

June 29,
2012

 

  

June 28,
2013

 

  

June 29,
2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings             

$

  112,831

  

  

$

  108,843

  

  

$

  320,902

  

  

$

  306,848

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – basic             

 

  108,158

  

  

 

  111,070

  

  

 

  108,741

  

  

 

  111,857

  

Dilutive effect of potential common shares             

 

  1,602

  

  

 

  1,753

  

  

 

  1,755

  

  

 

  2,104

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – diluted             

 

  109,760

  

  

 

  112,823

  

  

 

  110,496

  

  

 

  113,961

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share – basic             

$

  1.04

  

  

$

  0.98

  

  

$

  2.95

  

  

$

  2.74

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share – diluted             

$

  1.03

  

  

$

  0.96

  

  

$

  2.90

  

  

$

  2.69

  

 

 

 

 

Anti-dilutive employee shared based awards, excluded             

 

  737

  

  

 

  560

  

  

 

  739

  

  

 

  251

  

The Company excludes potentially dilutive common shares (consisting of shares underlying stock options and the employee stock purchase plan) from the computation of diluted weighted average shares outstanding if the per share value, either the exercise price of the awards or the sum of (a) the exercise price of the awards and (b) the amount of the compensation cost attributed to future services and not yet recognized and (c) the amount of tax benefit or shortfall that would be recorded in additional paid-in capital when the award becomes deductible, is greater than the average market price of the shares, because the inclusion of the shares underlying these stock awards would be antidilutive to earnings per share.