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:



	2017		2016		2015
	(In thousands, except per share data)
Basic and Diluted Earnings Per Share from continuing operations
Income from continuing operations	$	382,711	$	345,542	$	305,623
Less: Income from continuing operations allocated to participating securities	475		538		607
Income from continuing operations available to common shareholders	$	382,236	$	345,004	$	305,016
Basic and diluted weighted average shares outstanding	106,100		103,524		101,892
Income from continuing operations per share — Basic and Diluted	$	3.60	$	3.33	$	3.00

Basic and Diluted Earnings Per Share from discontinued operations
Income from discontinued operations	$	13,710	$	4,562	$	9,452
Less: Income from discontinued operations allocated to participating securities	12		8		19
Income from discontinued operations available to common shareholders	$	13,698	$	4,554	$	9,433
Basic and diluted weighted average shares outstanding	106,100		103,524		101,892
Income from discontinued operations per share - Basic and Diluted	$	0.13	$	0.05	$	0.09
Net Income per share — Basic and Diluted	$	3.73	$	3.38	$	3.09