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. Options excluded from the diluted net earnings per share calculation were zero and 1.6 million for the three and nine months ended April 30, 2017, respectively. For the three and nine months ended April 30, 2016, there were 3.2 million 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 April 30,				Nine Months Ended April 30,
	2017		2016		2017		2016
Net earnings	$	60.1	$	54.8	$	164.6	$	131.3
Weighted average common shares outstanding:
Basic	132.5		133.9		133.0		133.8
Dilutive impact of share based awards	1.6		0.8		1.4		0.9
Diluted	134.1		134.7		134.4		134.7

Net earnings per share - basic	$	0.45	$	0.41	$	1.24	$	0.98
Net earnings per share - diluted	$	0.45	$	0.41	$	1.23	$	0.97