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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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For the six months ended |
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November 30, |
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November 30, |
In millions, except per share amounts |
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2020 |
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2019 |
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2020 |
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2019 |
Basic earnings per share: |
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Net income |
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$ |
272.4 |
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$ |
258.7 |
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$ |
484.0 |
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$ |
522.9 |
Weighted-average common shares outstanding |
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360.0 |
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358.1 |
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359.5 |
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358.4 |
Basic earnings per share |
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$ |
0.76 |
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$ |
0.72 |
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$ |
1.35 |
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$ |
1.46 |
Diluted earnings per share: |
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Net income |
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$ |
272.4 |
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$ |
258.7 |
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$ |
484.0 |
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$ |
522.9 |
Weighted-average common shares outstanding |
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360.0 |
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358.1 |
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359.5 |
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358.4 |
Dilutive effect of common share equivalents |
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2.0 |
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2.5 |
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2.1 |
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2.7 |
Weighted-average common shares outstanding, assuming dilution |
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362.0 |
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360.6 |
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361.6 |
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361.1 |
Diluted earnings per share |
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$ |
0.75 |
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$ |
0.72 |
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$ |
1.34 |
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$ |
1.45 |
Weighted-average anti-dilutive common share equivalents |
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1.3 |
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0.6 |
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1.1 |
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0.5 |
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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