Earnings Per Share

3 Months Ended

Aug. 31, 2015

NOTE L – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended August 31, 2015 and 2014:


	Three Months Ended August 31,
(in thousands, except per share amounts)	2015		2014
Numerator (basic & diluted):
Net earnings attributable to controlling interest – income available to common shareholders	$	31,410	$	44,168
Denominator:
Denominator for basic earnings per share attributable to controlling interest – weighted average common shares		63,993		67,567
Effect of dilutive securities		1,736		2,171

Denominator for diluted earnings per share attributable to controlling interest – adjusted weighted average common shares		65,729		69,738

Basic earnings per share attributable to controlling interest	$	0.49	$	0.65
Diluted earnings per share attributable to controlling interest	$	0.48	$	0.63

Stock options covering 318,904 and 87,976 common shares have been excluded from the computation of diluted earnings per share for the three months ended August 31, 2015 and August 31, 2014, respectively, because the effect would have been anti-dilutive as the exercise price of the stock options was greater than the average market price of the common shares during the period.