Basic and diluted earnings per share were calculated as follows:

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

For both the three months ended February 29, 2020 and February 28, 2019, 0.3 million shares of the Company’s common stock were issued in connection with the exercise or vesting of stock-based awards. For the nine months ended February 29, 2020 and February 28, 2019, 1.4 million shares and 0.9 million shares, respectively, of the Company’s common stock were issued in connection with the exercise or vesting of stock-based awards.

In May 2019, the Company announced that its Board approved a program to repurchase up to $400.0 million of its common stock, with authorization expiring on May 31, 2022. No shares were repurchased during the three months ended February 29, 2020 or February 28, 2019. During the nine months ended February 29, 2020, the Company repurchased 2.0 million shares for $171.9 million. During the nine months ended February 28, 2019, the Company repurchased 0.5 million shares for $32.8 million under a previously authorized program. The purpose of both programs is to manage common stock dilution. All shares of common stock repurchased were retired.