Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Earnings Per Share

v2.4.0.6
Basic and Diluted Earnings Per Share
 6 Months Ended
Nov. 30, 2011
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:

 

                                 
    For the three months ended     For the six months ended  

In millions, except per share amounts

   November 30,     November 30,  
  2011     2010     2011     2010  

Basic earnings per share:

                                

Net income

   $ 140.4     $ 133.9     $ 289.3     $ 265.8  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average common shares outstanding

     362.4       361.7       362.3       361.6  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic earnings per share

   $ 0.39     $ 0.37     $ 0.80     $ 0.73  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings per share:

                                

Net income

   $ 140.4     $ 133.9     $ 289.3     $ 265.8  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average common shares outstanding

     362.4       361.7       362.3       361.6  

Dilutive effect of common share equivalents at average market price

     0.4       0.4       0.5       0.4  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average common shares outstanding, assuming dilution

     362.8       362.1       362.8       362.0  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings per share

   $ 0.39     $ 0.37     $ 0.80     $ 0.73  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average anti-dilutive common share equivalents

     10.7       13.4       11.0       13.8  

Weighted-average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.

For the three months ended November 30, 2011 and 2010, minimal shares of the Company’s common stock were issued. For the six months ended November 30, 2011 and 2010, 0.3 million shares and 0.2 million shares, respectively, of the Company’s common stock were issued related to exercises or vesting of stock-based awards.