Earnings Per Share

9 Months Ended

Apr. 30, 2021

Basic net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares. 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.

Basic and diluted net earnings per share calculations are as follows (in millions, except per share amounts):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2021		2020		2021		2020
Net earnings	$	84.4	$	63.4	$	202.6	$	192.9

Weighted average common shares outstanding
Weighted average common shares – basic	126.4		126.9		126.6		127.0
Dilutive impact of stock-based awards	1.9		0.8		1.6		1.5
Weighted average common shares – diluted	128.3		127.7		128.2		128.5

Net earnings per share – basic	$	0.67	$	0.50	$	1.60	$	1.52
Net earnings per share – diluted	$	0.66	$	0.50	$	1.58	$	1.50
Stock options excluded from net earnings per share	—		2.5		0.8		1.7