Earnings Per Share

3 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

We use the two-class method of computing earnings per share because we have participating securities in the form of non-vested restricted stock units with a nonforfeitable right to dividend equivalents, for which vesting is predicated solely on the passage of time. 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 three months ended December 31, 2013 and 2012 are calculated as follows:

	Three Months Ended   December 31
	2013		2012
	(In thousands, except per share amounts)
Basic Earnings Per Share from continuing operations
Income from continuing operations	$	87,016	$	77,348
Less: Income from continuing operations allocated to participating securities	235		260
Income from continuing operations available to common shareholders	$	86,781	$	77,088
Basic weighted average shares outstanding	90,833		90,359
Income from continuing operations per share — Basic	$	0.96	$	0.85
Basic Earnings Per Share from discontinued operations
Income from discontinued operations	$	—	$	3,117
Less: Income from discontinued operations allocated to participating securities	—		10
Income from discontinued operations available to common shareholders	$	—	$	3,107
Basic weighted average shares outstanding	90,833		90,359
Income from discontinued operations per share — Basic	$	—	$	0.04
Net income per share — Basic	$	0.96	$	0.89

	Three Months Ended   December 31
	2013		2012
	(In thousands, except per share amounts)
Diluted Earnings Per Share from continuing operations
Income from continuing operations available to common shareholders	$	86,781	$	77,088
Effect of dilutive stock options and other shares	1		2
Income from continuing operations available to common shareholders	$	86,782	$	77,090
Basic weighted average shares outstanding	90,833		90,359
Additional dilutive stock options and other shares	913		950
Diluted weighted average shares outstanding	91,746		91,309
Income from continuing operations per share — Diluted	$	0.95	$	0.85
Diluted Earnings Per Share from discontinued operations
Income from discontinued operations available to common shareholders	$	—	$	3,107
Effect of dilutive stock options and other shares	—		—
Income from discontinued operations available to common shareholders	$	—	$	3,107
Basic weighted average shares outstanding	90,833		90,359
Additional dilutive stock options and other shares	913		950
Diluted weighted average shares outstanding	91,746		91,309
Income from discontinued operations per share — Diluted	$	—	$	0.03
Net income per share — Diluted	$	0.95	$	0.88

There were no out-of-the-money stock options excluded from the computation of diluted earnings per share for the three months ended December 31, 2013 and 2012 as their exercise price was less than the average market price of the common stock during those periods.

2011 Share Repurchase Program

We did not repurchase any shares during the three months ended December 31, 2013 and 2012 under our 2011 share repurchase program.