Earnings Per Share

12 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Since we have non-vested share-based payments with a nonforfeitable right to dividends or dividend equivalents (referred to as participating securities), we are required to use the two-class method of computing earnings per share. The Company’s non-vested restricted stock units, granted under the 1998 Long-Term Incentive Plan, for which vesting is predicated solely on the passage of time, are considered to be participating securities. The calculation of earnings per share using the two-class method excludes income attributable to these participating securities from the numerator and excludes the dilutive impact of those shares from the denominator.

Basic and diluted earnings per share for the fiscal years ended September 30 are calculated as follows:

	2013		2012		2011
	(In thousands, except per share data)
Basic Earnings Per Share from continuing operations
Income from continuing operations	$	230,698	$	192,196	$	189,588
Less: Income from continuing operations allocated to participating securities	775		793		1,980
Income from continuing operations available to common shareholders	$	229,923	$	191,403	$	187,608
Basic weighted average shares outstanding	90,533		90,150		90,201
Income from continuing operations per share — Basic	$	2.54	$	2.12	$	2.08
Basic Earnings Per Share from discontinued operations
Income from discontinued operations	$	12,496	$	24,521	$	18,013
Less: Income from discontinued operations allocated to participating securities	42		101		188
Income from discontinued operations available to common shareholders	$	12,454	$	24,420	$	17,825
Basic weighted average shares outstanding	90,533		90,150		90,201
Income from discontinued operations per share — Basic	$	0.14	$	0.27	$	0.20
Net income per share — Basic	$	2.68	$	2.39	$	2.28
Diluted Earnings Per Share from continuing operations
Income from continuing operations available to common shareholders	$	229,923	$	191,403	$	187,608
Effect of dilutive stock options and other shares	5		4		4
Income from continuing operations available to common shareholders	$	229,928	$	191,407	$	187,612
Basic weighted average shares outstanding	90,533		90,150		90,201
Additional dilutive stock options and other shares	1,178		1,022		451
Diluted weighted average shares outstanding	91,711		91,172		90,652
Income from continuing operations per share — Diluted	$	2.50	$	2.10	$	2.07
Diluted Earnings Per Share from discontinued operations
Income from discontinued operations available to common shareholders	$	12,454	$	24,420	$	17,825
Effect of dilutive stock options and other shares	—		—		—
Income from discontinued operations available to common shareholders	$	12,454	$	24,420	$	17,825
Basic weighted average shares outstanding	90,533		90,150		90,201
Additional dilutive stock options and other shares	1,178		1,022		451
Diluted weighted average shares outstanding	91,711		91,172		90,652
Income from discontinued operations per share — Diluted	$	0.14	$	0.27	$	0.20
Net income per share — Diluted	$	2.64	$	2.37	$	2.27

There were no out-of-the-money options excluded from the computation of diluted earnings per share for the fiscal years ended September 30, 2013, 2012 and 2011.