Basic and Diluted Earnings Per Share
|12 Months Ended|
May 31, 2016
|Basic and Diluted Earnings Per Share [Abstract]|
|Basic and Diluted Earnings Per Share||
Note B — 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 2014, the Board approved a program to repurchase up to $350.0 million of the Company's common stock with authorization expiring on May 31, 2017. During fiscal 2016, the Company repurchased 2.2 million shares for $107.9 million and during fiscal 2015, the Company repurchased 3.9 million shares for $182.4 million under this program. All shares repurchased were retired.
In July 2016, the Board approved a new program to repurchase up to $350.0 million of the Company’s common stock with authorization expiring on May 31, 2019. The purpose of the program is to manage common stock dilution. Shares purchased will be retired.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef