Earnings per Common Share

9 Months Ended

Jun. 30, 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 June 30						Nine Months Ended June 30
	2020		2019		2020		2019
Net Income	$	93.9	$	32.6	$	180.6	$	124.3

Net Income per Basic Common Share	$	1.41	$	0.49	$	2.71	$	1.86

Net Income per Diluted Common Share	$	1.40	$	0.48	$	2.68	$	1.84

Average Basic Common Shares Outstanding (in thousands)	66,558		66,777		66,660		66,822
Add potential effect of exercise of stock options and other unvested equity awards	625		669		632		662
Average Diluted Common Shares Outstanding (in thousands)	67,183		67,446		67,292		67,484

Shares with anti-dilutive effect excluded from the computation of diluted EPS	291		258		298		299