Earnings Per Share

3 Months Ended

Dec. 31, 2015

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, 2015 and 2014 are calculated as follows:



	Three Months Ended December 31
	2015		2014
	(In thousands, except per share amounts)
Basic and Diluted Earnings Per Share
Net income	$	102,861	$	97,595
Less: Income allocated to participating securities	172		216
Income available to common shareholders	$	102,689	$	97,379
Basic and diluted weighted average shares outstanding	102,713		101,581
Net income per share - Basic and Diluted	$	1.00	$	0.96

2011 Share Repurchase Program

We did not repurchase any shares during the three months ended December 31, 2015 and 2014 under our 2011 share repurchase program, which is scheduled to end on September 30, 2016.