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LOSS PER SHARE AND STOCKHOLDERS' EQUITY
 9 Months Ended
Jan. 31, 2020
Earnings Per Share [Abstract]  
LOSS PER SHARE AND STOCKHOLDERS' EQUITY
NOTE 3: LOSS PER SHARE AND STOCKHOLDERS' EQUITY
LOSS PER SHARE – Basic and diluted loss 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 or loss from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period. The dilutive effect of potential common shares is included in diluted earnings per share except in those periods with a loss from continuing operations. 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 3.7 million shares for the three and nine months ended January 31, 2020, and 3.4 million shares
for the three and nine months ended January 31, 2019, as the effect would be antidilutive due to the net loss from continuing operations during those periods.
The computations of basic and diluted loss per share from continuing operations are as follows:
(in 000s, except per share amounts)
 
 
 
Three months ended January 31,
 
Nine months ended January 31,
 
 
2020

 
2019

 
2020

 
2019

Net loss from continuing operations attributable to shareholders
 
$
(128,026
)
 
$
(119,779
)
 
$
(457,304
)
 
$
(439,513
)
Amounts allocated to participating securities
 
(169
)
 
(160
)
 
(468
)
 
(446
)
Net loss from continuing operations attributable to common shareholders
 
$
(128,195
)
 
$
(119,939
)
 
$
(457,772
)
 
$
(439,959
)
 
 
 
 
 
 
 
 
 
Basic weighted average common shares
 
194,077

 
205,532

 
198,064

 
206,242

Potential dilutive shares
 
—

 
—

 
—

 
—

Dilutive weighted average common shares
 
194,077

 
205,532

 
198,064

 
206,242

 
 
 
 
 
 
 
 
 
Loss per share from continuing operations attributable to common shareholders:
Basic
 
$
(0.66
)
 
$
(0.58
)
 
$
(2.31
)
 
$
(2.13
)
Diluted
 
(0.66
)
 
(0.58
)
 
(2.31
)
 
(2.13
)
 
 
 
 
 
 
 
 
 

The weighted average shares outstanding for the three and nine months ended January 31, 2020 decreased to 194.1 million and 198.1 million, respectively, from 205.5 million and 206.2 million, respectively, for the three and nine months ended January 31, 2019. The decrease is due to share repurchases completed in the current and prior years.
STOCK-BASED COMPENSATION – During the nine months ended January 31, 2020, we also acquired 0.3 million shares of our common stock at an aggregate cost of $9.4 million, which represent shares swapped or surrendered to us in connection with the vesting or exercise of stock-based awards. During the nine months ended January 31, 2019, we acquired 0.2 million shares at an aggregate cost of $5.0 million for similar purposes.
During the nine months ended January 31, 2020 and 2019, we issued 1.0 million and 0.7 million shares of common stock, respectively, due to the vesting or exercise of stock-based awards.
During the nine months ended January 31, 2020, we granted equity awards equivalent to 1.5 million shares under our stock-based compensation plans, consisting primarily of nonvested units. Stock-based compensation expense of our continuing operations totaled $6.6 million and $22.7 million for the three and nine months ended January 31, 2020, respectively and $6.2 million and $18.0 million for the three and nine months ended January 31, 2019, respectively. As of January 31, 2020, unrecognized compensation cost for stock options totaled $0.3 million, and for nonvested shares and units totaled $40.6 million.