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Net Earnings Per Share
 6 Months Ended
Jan. 31, 2017
Earnings Per Share [Abstract]  
Net Earnings Per Share
Net Earnings Per Share
The Company’s basic net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares. The Company’s diluted net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options and stock incentive plans. Certain outstanding options were excluded from the diluted net earnings per share calculations because their exercise prices were greater than the average market price of the Company’s common stock during those periods. For both the three and six months ended January 31, 2017, there were 1.6 million options excluded from the diluted net earnings per share calculation. For the three and six months ended January 31, 2016, there were 4.2 million and 3.4 million, respectively, options excluded from the diluted net earnings per share calculation.
Basic and diluted net earnings per share were calculated using the following (in millions, except per share amounts):
 
Three Months Ended
January 31,
 
Six Months Ended
January 31,
 
2017
 
2016
 
2017
 
2016
Net earnings
$
46.5

 
$
38.0

 
$
104.5

 
$
76.5

Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic
132.9

 
133.7

 
133.2

 
133.8

Dilutive impact of share based awards
1.5

 
0.7

 
1.3

 
0.9

Diluted
134.4

 
134.4

 
134.5

 
134.7

 
 
 
 
 
 
 
 
Net earnings per share - basic
$
0.35

 
$
0.28

 
$
0.78

 
$
0.57

Net earnings per share - diluted
$
0.35

 
$
0.28

 
$
0.78

 
$
0.57