Earnings Per Share

12 Months Ended

Apr. 30, 2016

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,	2016			2015			2014
Net income from continuing operations attributable to shareholders	$	383,553		$	486,744		$	500,097
Amounts allocated to participating securities	(718		)	(774		)	(692		)
Net income from continuing operations attributable to common shareholders	$	382,835		$	485,970		$	499,405

Basic weighted average common shares	249,009			275,033			273,830
Potential dilutive shares	1,809			2,103			2,197
Dilutive weighted average common shares	250,818			277,136			276,027
Earnings per share from continuing operations attributable to common shareholders:
Basic	$	1.54		$	1.77		$	1.82
Diluted	1.53			1.75			1.81

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 0.1 million shares of stock for each of our fiscal years 2016, 2015 and 2014, as the effect would be antidilutive.