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EARNINGS PER SHARE
 6 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic net earnings per share is computed by dividing net earnings attributable to Varian 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 attributable to Varian 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 basic and diluted net earnings per share:
 
Three Months Ended
 
Six Months Ended
(In millions, except per share amounts)
March 31,
2017
 
April 1,
2016
 
March 31,
2017
 
April 1,
2016
Net earnings from continuing operations
$
69.3


$
77.2

 
$
83.8

 
$
149.1

Less: Net earnings (loss) from continuing operations attributable to noncontrolling interests
(0.1
)
 
(0.1
)
 
0.4

 
—

Net earnings from continuing operations attributable to Varian
$
69.4

 
$
77.3

 
$
83.4

 
$
149.1

 
 
 
 
 
 
 
 
Net (loss) earnings from discontinued operations
$
(13.3
)
 
$
19.8

 
$
(6.8
)
 
$
36.9

Less: Net earnings from discontinued operations attributable to noncontrolling interests
—

 
0.1

 
0.1

 
—

Net (loss) earnings from discontinued operations attributable to Varian
(13.3
)
 
19.7

 
(6.9
)
 
36.9

Net earnings attributable to Varian
$
56.1

 
$
97.0

 
$
76.5

 
$
186.0

 
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
93.0

 
95.7

 
93.2

 
96.5

Dilutive effect of potential common shares
0.7

 
0.5

 
0.7

 
0.6

Weighted average shares outstanding - diluted
93.7

 
96.2

 
93.9

 
97.1

 
 
 
 
 
 
 
 
Net earnings (loss) per share attributable to Varian - basic
 
 
 
 
 
 
 
Continuing operations
$
0.75

 
$
0.81

 
$
0.90

 
$
1.55

Discontinued operations
(0.15
)
 
0.20

 
(0.08
)
 
0.38

Net earnings per share - basic
$
0.60

 
$
1.01

 
$
0.82

 
$
1.93

 
 
 
 
 
 
 
 
Net earnings (loss) per share attributable to Varian - diluted
 
 
 
 
 
 
 
Continuing operations
$
0.74

 
$
0.80

 
$
0.89

 
$
1.54

Discontinued operations
(0.14
)
 
0.21

 
(0.08
)
 
0.38

Net earnings per share - diluted
$
0.60

 
$
1.01

 
$
0.81

 
$
1.92

Anti-dilutive employee share-based awards, excluded
0.6

 
2.0

 
0.6

 
2.0


 
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.