Earnings Per Share

12 Months Ended

Sep. 30, 2025

EARNINGS (LOSS) PER SHARE

The table below details the computation of basic and diluted earnings (loss) per share:


Fiscal Year Ended 30 September	2025	2024	2023
Numerator
Net income (loss) from continuing operations	($386.5)	$3,842.1	$2,292.8
Net income (loss) from discontinued operations	(8.0)	(13.9)	7.4
Net Income (Loss) attributable to Air Products	($394.5)	$3,828.2	$2,300.2

Denominator (in millions)
Weighted average common shares — Basic	222.7	222.5	222.3
Effect of dilutive securities
Employee stock option and other award plans	—	0.3	0.4
Weighted average common shares — Diluted	222.7	222.8	222.7

Per Share Data(A) (U.S. Dollars per share)
Basic earnings (loss) per share from continuing operations	($1.74)	$17.27	$10.31
Basic earnings (loss) per share from discontinued operations	(0.04)	(0.06)	0.03
Basic earnings (loss) per share attributable to Air Products	($1.77)	$17.21	$10.35
Diluted earnings (loss) per share from continuing operations	($1.74)	$17.24	$10.30
Diluted earnings (loss) per share from discontinued operations	(0.04)	(0.06)	0.03
Diluted earnings (loss) per share attributable to Air Products	($1.77)	$17.18	$10.33

(A)Earnings (loss) per share is calculated independently for each component and may not sum to total EPS due to rounding.

Diluted earnings (loss) per share attributable to Air Products reflects the potential dilution that could occur if 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. To the extent they would have been dilutive, the incremental shares, or the difference between shares assumed to be issued versus purchased, are included in the denominator of the diluted EPS calculation.

The table below summarizes antidilutive outstanding share-based awards that were excluded from the computation of diluted earnings (loss) per share:


	Twelve Months Ended
	30 September
		2025	2024	2023
Antidilutive outstanding share-based awards(A)		0.2	—	—

(A)Due to the net loss reported for the twelve months ended 30 September 2025, outstanding share-based awards were excluded from the computation of diluted loss per share. These shares would have had an antidilutive impact, thus diluting the loss per share