Paychex, Inc. Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Earnings Per Share (Tables)

6 Months Ended

Nov. 30, 2011


	For the three months ended				For the six months ended
In millions, except per share amounts	November 30,				November 30,
In millions, except per share amounts	2011		2010		2011		2010
Basic earnings per share:
Net income	$	140.4	$	133.9	$	289.3	$	265.8

Weighted-average common shares outstanding		362.4		361.7		362.3		361.6

Basic earnings per share	$	0.39	$	0.37	$	0.80	$	0.73

Diluted earnings per share:
Net income	$	140.4	$	133.9	$	289.3	$	265.8

Weighted-average common shares outstanding		362.4		361.7		362.3		361.6
Dilutive effect of common share equivalents at average market price		0.4		0.4		0.5		0.4

Weighted-average common shares outstanding, assuming dilution		362.8		362.1		362.8		362.0

Diluted earnings per share	$	0.39	$	0.37	$	0.80	$	0.73

Weighted-average anti-dilutive common share equivalents		10.7		13.4		11.0		13.8