Earnings Per Share

6 Months Ended

Apr. 03, 2015

Earnings Per Share [Abstract]

Earnings Per Share

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				Six Months Ended
	April 3,		March 28,		April 3,		March 28,
(In thousands, except per share amounts)	2015		2014		2015		2014
Net earnings	$	105,969	$	92,788	$	199,283	$	190,748
Weighted average shares outstanding - basic	100,157		104,152		100,315		105,038
Dilutive effect of potential common shares	869		1,294		1,026		1,376
Weighted average shares outstanding - diluted	101,026		105,446		101,341		106,414
Net earnings per share - basic	$	1.06	$	0.89	$	1.99	$	1.82
Net earnings per share - diluted	$	1.05	$	0.88	$	1.97	$	1.79
Anti-dilutive employee shared based awards, excluded	956		657		1,194		1,040

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 anti-dilutive to earnings per share.