Earnings Per Share

3 Months Ended

Oct. 31, 2022

Note 9. Earnings Per Share

Basic net earnings per share (EPS) is computed by dividing net earnings by the weighted average number of outstanding common shares. Diluted net EPS is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options and other stock incentive plans.

Basic and diluted net EPS calculations were as follows (in millions, except per share amounts):


	Three Months Ended October 31,
	2022		2021
Net earnings	$	87.2	$	77.1

Weighted average common shares outstanding
Weighted average common shares – basic	122.6		124.4
Dilutive impact of stock-based awards	1.3		1.9
Weighted average common shares – diluted	123.9		126.3

Net EPS – basic	$	0.71	$	0.62
Net EPS – diluted	$	0.70	$	0.61
Stock options excluded from net EPS calculation	1.7		—