Basic and Diluted Earnings Per Share
|12 Months Ended|
May 31, 2019
|Basic and Diluted Earnings Per Share [Abstract]|
|Basic and Diluted Earnings Per Share||
Note C — Basic and Diluted Earnings Per Share
Basic and diluted earnings per share were calculated as follows:
(1) Amounts have been adjusted to reflect the adoption of ASC Topic 606.
Weighted-average common share equivalents that had an anti-dilutive impact are excluded from the computation of diluted earnings per share.
The Company maintained a program to repurchase up to $350.0 million of the Company's common stock, with authorization that expired on May 31, 2019. During fiscal 2019 and fiscal 2018, the Company repurchased 0.7 million shares for $56.9 million and 2.5 million shares for $143.1 million, respectively, under this repurchase program. All shares repurchased were retired. In May 2019, the Company announced that its Board approved a program to repurchase up to $400.0 million of the Company’s common stock, with authorization running from June 1, 2019 through May 31, 2022. The purpose of these programs is to manage common stock dilution.
The entire disclosure for earnings per share.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef