Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Diluted earnings per share reflects the weighted-average number of shares outstanding after consideration of the dilutive effect of stock options, restricted stock units, and performance stock units.

The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net earnings	$	146,675	$	108,448	$	414,407	$	304,488
Denominator:
Basic shares outstanding		59,445		59,680		59,632		59,442
Dilutive effect of stock options; restricted and performance stock units		1,573		1,808		1,685		1,932
Diluted shares outstanding		61,018		61,488		61,317		61,374
Income per common share:
Basic earnings per share	$	2.47	$	1.82	$	6.95	$	5.12
Diluted earnings per share	$	2.40	$	1.76	$	6.76	$	4.96

The following stock option grants and restricted stock awards were outstanding but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2026		2025		2026		2025
Restricted stock and option awards		17		38		9		20
Weighted-average price	$	391.53	$	193.09	$	391.53	$	185.74

The weighted-average shares of common stock outstanding for basic and diluted earnings per share included the weighted-average treasury stock shares held for deferred compensation obligations of the following:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2026		2025		2026		2025
Weighted-average treasury stock shares held for deferred compensation obligations		28		30		28		34