Earnings Per Share

6 Months Ended

Jan. 31, 2023

Note 9. Earnings Per Share

Basic net earnings per share (EPS) is computed by dividing net earnings by the weighted average number of outstanding common shares. Diluted net EPS 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 EPS calculations were as follows (in millions, except per share amounts):


	Three Months Ended January 31,				Six Months Ended January 31,
	2023		2022		2023		2022
Net earnings	$	86.0	$	71.8	$	173.2	$	148.8

Weighted average common shares outstanding
Weighted average common shares – basic	121.7		123.9		122.2		124.1
Dilutive impact of stock-based awards	1.6		1.7		1.5		1.9
Weighted average common shares – diluted	123.3		125.6		123.7		126.0

Net EPS – basic	$	0.71	$	0.58	$	1.42	$	1.20
Net EPS – diluted	$	0.70	$	0.57	$	1.40	$	1.18
Stock options excluded from net EPS calculation	—		1.6		1.6		—