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Earnings Per Share
3 Months Ended
Aug. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 11 — EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share for the three-month periods ended August 31, 2020 and 2019.  

 

 

 

Three Months Ended

 

 

 

August 31,

 

 

August 31,

 

(In thousands, except per share amounts)

 

2020

 

 

2019

 

Numerator for earnings per share:

 

 

 

 

 

 

 

 

Net income attributable to RPM International Inc. stockholders

 

$

180,595

 

 

$

106,188

 

Less:  Allocation of earnings and dividends to participating securities

 

 

(1,552

)

 

 

(623

)

Net income available to common shareholders - basic

 

 

179,043

 

 

 

105,565

 

Add:  Undistributed earnings reallocated to unvested shareholders

 

 

4

 

 

 

2

 

Net income available to common shareholders - diluted

 

$

179,047

 

 

$

105,567

 

Denominator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

Basic weighted average common shares

 

 

128,418

 

 

 

128,882

 

Average diluted options and awards

 

 

365

 

 

 

622

 

Total shares for diluted earnings per share (1)

 

 

128,783

 

 

 

129,504

 

Earnings Per Share of Common Stock Attributable to

 

 

 

 

 

 

 

 

RPM International Inc. Stockholders:

 

 

 

 

 

 

 

 

Basic Earnings Per Share of Common Stock

 

$

1.39

 

 

$

0.82

 

Method used to calculate basic earnings per share

 

Two-class

 

 

Two-class

 

Diluted Earnings Per Share of Common Stock

 

$

1.39

 

 

$

0.82

 

Method used to calculate diluted earnings per share

 

Two-class

 

 

Two-class

 

 

(1)

Restricted shares totaling 225,500 and 178,000 for the three months ended August 31, 2020 and 2019, respectively, were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive.   In addition, stock appreciation rights (“SARs”) totaling 360,000 and 790,000 for the three months ended August 31, 2020 and 2019, respectively, were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive.