Earnings Per Share

12 Months Ended

Jul. 31, 2021

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 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 other stock incentive plans.

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

	Year Ended July 31,
	2021		2020		2019
Net earnings	$	286.9	$	257.0	$	267.2
Weighted average common shares outstanding
Weighted average common shares – basic	126.4		126.9		128.3
Dilutive impact of stock-based awards	1.8		1.4		2.0
Weighted average common shares – diluted	128.2		128.3		130.3
Net earnings per share – basic	$	2.27	$	2.03	$	2.08
Net earnings per share – diluted	$	2.24	$	2.00	$	2.05
Stock options excluded from net earnings per share calculation	0.8		1.7		0.8