Earnings per Common Share

6 Months Ended

Mar. 31, 2020

Earnings per Common Share Basic earnings per share (“EPS”) is calculated based upon the weighted average number of outstanding common shares for the period, plus the effect of deferred vested shares. Diluted earnings per share is calculated consistent with the basic earnings per share calculation plus the effect of dilutive unissued common shares related to stock-based employee compensation programs. For all periods presented, anti-dilutive stock options were excluded from the calculation of diluted earnings per share. Cumulative treasury stock acquired, less cumulative shares reissued, have been excluded in determining the average number of shares outstanding.

Earnings per share are calculated as follows:


	Three Months Ended March 31						Six Months Ended March 31
	2020		2019		2020		2019
Net Income	$	46.9	$	49.5	$	86.7	$	91.7

Net Income per Basic Common Share	$	0.70	$	0.74	$	1.30	$	1.37

Net Income per Diluted Common Share	$	0.70	$	0.74	$	1.29	$	1.36

Average Basic Common Shares Outstanding (in thousands)	66,685		66,696		66,731		66,866
Add potential effect of exercise of stock options and other unvested equity awards	533		648		578		659
Average Diluted Common Shares Outstanding (in thousands)	67,218		67,344		67,309		67,525

Shares with anti-dilutive effect excluded from the computation of diluted EPS	320		307		332		286