Basic and Diluted Earnings Per Share
|12 Months Ended|
May 31, 2018
|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 the 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”). During fiscal 2018, the Company repurchased 2.5 million shares for $143.1 million under the July 2016 Program. During fiscal 2017, the Company repurchased 2.9 million shares for $166.2 million. Of the shares repurchased during fiscal 2017, $59.7 million were repurchased under a previously authorized common stock repurchase program. The purpose of the program is to manage common stock dilution. All shares repurchased were retired.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef