7. Earnings Per Share

3 Months Ended

Dec. 31, 2012

Disclosure Earnings Per Share

7. Earnings Per Share

7. 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, for which vesting is predicated solely on the passage of time granted under the 1998 Long-Term Incentive Plan, 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 three months ended December 31, 2012 and 2011 are calculated as follows:

			Three Months Ended
			December 31
			2012		2011
			(In thousands, except
			per share amounts)
Basic Earnings Per Share from continuing operations
	Income from continuing operations		$	77,348	$	62,384
	Less: Income from continuing operations allocated to
		participating securities		260		650
	Income from continuing operations available to common
		shareholders	$	77,088	$	61,734
	Basic weighted average shares outstanding			90,359		90,254
	Income from continuing operations per share - Basic		$	0.85	$	0.68
Basic Earnings Per Share from discontinued operations
	Income from discontinued operations		$	3,117	$	6,123
	Less: Income from discontinued operations allocated to
		participating securities		10		64
	Income from discontinued operations available to
		common shareholders	$	3,107	$	6,059
	Basic weighted average shares outstanding			90,359		90,254
	Income from discontinued operations per share - Basic		$	0.04	$	0.07
	Net income per share - Basic		$	0.89	$	0.75
Diluted Earnings Per Share from continuing operations
	Income from continuing operations available to common
		shareholders	$	77,088	$	61,734
	Effect of dilutive stock options and other shares			2		1
	Income from continuing operations available to common
		shareholders	$	77,090	$	61,735
	Basic weighted average shares outstanding			90,359		90,254
	Additional dilutive stock options and other shares			950		292
	Diluted weighted average shares outstanding			91,309		90,546
	Income from continuing operations per share - Diluted		$	0.85	$	0.68
Diluted Earnings Per Share from discontinued operations
	Income from discontinued operations available to
		common shareholders	$	3,107	$	6,059
	Effect of dilutive stock options and other shares			0		0
	Income from discontinued operations available to
		common shareholders	$	3,107	$	6,059
	Basic weighted average shares outstanding			90,359		90,254
	Additional dilutive stock options and other shares			950		292
	Diluted weighted average shares outstanding			91,309		90,546
	Income from discontinued operations per share - Diluted		$	0.03	$	0.07
	Net income per share - Diluted		$	0.88	$	0.75

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, 2012 and 2011 as their exercise price was less than the average market price of the common stock during that period.