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Note C: Basic and Diluted Earnings Per Share
Basic and diluted earnings per share were calculated as follows:
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For the three months ended |
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August 31, |
In millions, except per share amounts |
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2020 |
|
2019 |
Basic earnings per share: |
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Net income |
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$ |
211.6 |
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$ |
264.2 |
Weighted-average common shares outstanding |
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|
359.1 |
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|
358.6 |
Basic earnings per share |
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$ |
0.59 |
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$ |
0.74 |
Diluted earnings per share: |
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|
|
Net income |
|
$ |
211.6 |
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$ |
264.2 |
Weighted-average common shares outstanding |
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|
359.1 |
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|
358.6 |
Dilutive effect of common share equivalents |
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|
2.2 |
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|
2.9 |
Weighted-average common shares outstanding, assuming dilution |
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|
361.3 |
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|
361.5 |
Diluted earnings per share |
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$ |
0.59 |
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$ |
0.73 |
Weighted-average anti-dilutive common share equivalents |
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|
1.0 |
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|
0.3 |
Weighted-average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.
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