Basic and Diluted Earnings Per Share
|12 Months Ended|
May 31, 2017
|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 July 2016, the Company announced that its Board approved a program to repurchase up to $350.0 million of the Company's common stock, with authorization expiring in May 2019 (the “July 2016 Program”). In May 2014, the Board had previously approved a program to repurchase up to $350.0 million of the Company’s common stock with authorization that expired in May 2017 (the “May 2014 Program”). During fiscal 2017, the Company repurchased 2.9 million shares for $166.2 million. Of the shares repurchased during fiscal 2017, $106.5 million were repurchased under the July 2016 Program and $59.7 million were repurchased under the May 2014 Program. During fiscal 2016, the Company repurchased 2.2 million shares for $107.9 million under the May 2014 Program. The purpose of both programs is to manage common stock dilution. All shares repurchased were retired. As of May 31, 2017, all amounts authorized under the May 2014 Program have been repurchased.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef