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Note C: Basic and Diluted Earnings Per Share
Basic and diluted earnings per share were calculated as follows:
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For the three months ended |
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For the nine months ended |
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February 29, |
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February 28, |
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February 29, |
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February 28, |
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In millions, except per share amounts |
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2024 |
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2023 |
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2024 |
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2023 |
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Basic earnings per share: |
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Net income |
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$ |
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498.6 |
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$ |
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467.4 |
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$ |
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1,310.5 |
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$ |
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1,206.9 |
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Weighted-average common shares outstanding |
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359.9 |
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360.5 |
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360.4 |
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360.3 |
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Basic earnings per share |
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$ |
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1.39 |
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$ |
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1.30 |
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$ |
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3.64 |
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$ |
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3.35 |
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Diluted earnings per share: |
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Net income |
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$ |
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498.6 |
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$ |
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467.4 |
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$ |
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1,310.5 |
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$ |
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1,206.9 |
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Weighted-average common shares outstanding |
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359.9 |
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360.5 |
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360.4 |
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360.3 |
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Dilutive effect of common share equivalents |
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1.8 |
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1.8 |
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1.8 |
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2.0 |
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Weighted-average common shares outstanding, assuming dilution |
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361.7 |
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362.3 |
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362.2 |
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362.3 |
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Diluted earnings per share |
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$ |
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1.38 |
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$ |
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1.29 |
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$ |
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3.62 |
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$ |
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3.33 |
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Weighted-average anti-dilutive common share equivalents |
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0.6 |
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0.7 |
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0.6 |
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0.7 |
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Weighted-average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.
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