Earnings per Share

6 Months Ended

Nov. 30, 2021

NOTE N – Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the periods presented:

	Three Months Ended					Six Months Ended
	November 30,					November 30,
(in thousands, except per share amounts)	2021		2020			2021		2020
Numerator (basic & diluted):
Net earnings (loss) attributable to controlling interest -
income (loss) available to common shareholders	$	110,301	$	(74,044	)	$	242,792	$	542,631
Denominator:
Denominator for basic earnings (loss) per share attributable to
controlling interest - weighted average common shares		50,381		52,988			50,618		53,532
Effect of dilutive securities		833		-			914		907
Denominator for diluted earnings (loss) per share attributable to
controlling interest - adjusted weighted average common shares		51,214		52,988			51,532		54,439

Basic earnings (loss) per share attributable to controlling interest	$	2.19	$	(1.40	)	$	4.80	$	10.14
Diluted earnings (loss) per share attributable to controlling interest	$	2.15	$	(1.40	)	$	4.71	$	9.97

Stock options covering an aggregate of 54,500 common shares for the three months ended November 30, 2021 have been excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive for the period. All potential diluted shares (stock options and restricted common shares covering an aggregate of 1,030,835 common shares) have been excluded from the computation of diluted loss per share for the three months ended November 30, 2020, because the effect would have been anti-dilutive due to the overall net loss for the period. Stock options covering an aggregate of 47,352 and 492,011 common shares for the six months ended November 30, 2021 and 2020, respectively, have been excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive for the period.