Basic and Diluted Earnings Per Share
|12 Months Ended|
May 31, 2020
|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:
Weighted-average common share equivalents that had an anti-dilutive impact are excluded from the computation of diluted earnings per share.
In May 2019, the Company announced that its Board approved a program to repurchase up to $400.0 million of its common stock, with authorization expiring on May 31, 2022. During fiscal 2020, the Company repurchased 2.0 million shares for $171.9 million under this repurchase program. 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 a previously authorized repurchase program. The purpose of these programs is to manage common stock dilution. All shares of common stock repurchased were retired.
The entire disclosure for earnings per share.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef