Earnings Per Share

9 Months Ended

Jun. 30, 2017

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 and nine months ended June 30, 2017 and 2016 are calculated as follows:



	Three Months Ended June 30				Nine Months Ended June 30
	2017		2016		2017		2016
	(In thousands, except per share amounts)
Basic and Diluted Earnings Per Share from continuing operations
Income from continuing operations	$	70,808	$	66,143	$	346,858	$	310,692
Less: Income from continuing operations allocated to participating securities	75		100		424		488
Income from continuing operations available to common shareholders	$	70,733	$	66,043	$	346,434	$	310,204
Basic and diluted weighted average shares outstanding	106,364		103,750		105,862		103,137
Income from continuing operations per share — Basic and Diluted	$	0.67	$	0.64	$	3.27	$	3.01

Basic and Diluted Earnings Per Share from discontinued operations
Income from discontinued operations	$	—	$	5,050	$	13,710	$	5,172
Less: Income from discontinued operations allocated to participating securities	—		6		15		4
Income from discontinued operations available to common shareholders	$	—	$	5,044	$	13,695	$	5,168
Basic and diluted weighted average shares outstanding	106,364		103,750		105,862		103,137
Income from discontinued operations per share — Basic and Diluted	$	—	$	0.05	$	0.13	$	0.05
Net income per share — Basic and Diluted	$	0.67	$	0.69	$	3.40	$	3.06