Earnings per Share

12 Months Ended

Sep. 30, 2019

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (EPS):



30 September	2019		2018		2017
Numerator
Net income from continuing operations		$1,760.0		$1,455.6		$1,134.4
Net income from discontinued operations	—		42.2		1,866.0
Net Income Attributable to Air Products		$1,760.0		$1,497.8		$3,000.4
Denominator (in millions)
Weighted average common shares — Basic	220.3		219.3		218.0
Effect of dilutive securities
Employee stock option and other award plans	1.3		1.5		1.8
Weighted average common shares — Diluted	221.6		220.8		219.8
Basic EPS Attributable to Air Products
Basic earnings per share from continuing operations		$7.99		$6.64		$5.20
Basic earnings per share from discontinued operations	—		.19		8.56
Basic Earnings Per Common Share Attributable to Air Products		$7.99		$6.83		$13.76
Diluted EPS Attributable to Air Products
Diluted earnings per share from continuing operations		$7.94		$6.59		$5.16
Diluted earnings per share from discontinued operations	—		.19		8.49
Diluted Earnings Per Common Share Attributable to Air Products		$7.94		$6.78		$13.65

Diluted EPS attributable to Air Products reflects the potential dilution that could occur if stock options or other share-based awards were exercised or converted into common stock. The dilutive effect is computed using the treasury stock method, which assumes all share-based awards are exercised and the hypothetical proceeds from exercise are used by the Company to purchase common stock at the average market price during the period. The incremental shares (difference between shares assumed to be issued versus purchased), to the extent they would have been dilutive, are included in the denominator of the diluted EPS calculation. There were no antidilutive outstanding share-based awards in fiscal year 2019 and 2017, respectively. Outstanding share-based awards of .1 million shares were antidilutive and therefore excluded from the computation of diluted EPS for fiscal year 2018.