Earnings Per Share

12 Months Ended

Apr. 30, 2011

Earnings Per Share

Earnings Per Share

 

NOTE 3: EARNINGS PER SHARE

Basic and diluted earnings per share is computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period. The computations of basic and diluted earnings per share from continuing operations are as follows:

(in 000s, except per share amounts)
Year Ended April 30,	2011			2010			2009
Net income from continuing operations attributable to shareholders	$	419,405		$	488,946		$	513,055
Amounts allocated to participating securities (nonvested shares)		(1,085	)		(1,888	)		(2,042	)
Net income from continuing operations attributable to common shareholders	$	418,320		$	487,058		$	511,013
Basic weighted average common shares		309,230			332,283			332,787
Potential dilutive shares		547			953			1,752
Dilutive weighted average common shares		309,777			333,236			334,539
Earnings per share from continuing operations attributable to common shareholders:
Basic	$	1.35		$	1.47		$	1.53
Diluted		1.35			1.46			1.53

Diluted earnings per share excludes the impact of shares of common stock issuable upon the lapse of certain restrictions or the exercise of options to purchase 12.8 million, 13.7 million and 15.7 million shares of stock for fiscal years 2011, 2010 and 2009, respectively, as the effect would be antidilutive.