Earnings Per Share

12 Months Ended

Apr. 30, 2021

NOTE 3: EARNINGS PER SHARE

Basic and diluted earnings (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 (loss) from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period.

The computations of basic and diluted earnings (loss) per share from continuing operations are as follows:


(in 000s, except per share amounts)
Year ended April 30,	2021		2020		2019
Net income from continuing operations attributable to shareholders	$	590,212	$	6,156	$	445,256
Amounts allocated to participating securities	(2,413)		(639)		(1,040)
Net income from continuing operations attributable to common shareholders	$	587,799	$	5,517	$	444,216

Basic weighted average common shares	186,832		196,701		205,372
Potential dilutive shares	1,945		1,407		1,352
Dilutive weighted average common shares	188,777		198,108		206,724
Earnings per share from continuing operations attributable to common shareholders:
Basic	$	3.15	$	0.03	$	2.16
Diluted	3.11		0.03		2.15

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 0.8 million, 0.9 million and 0.4 million shares of stock for fiscal years 2021, 2020 and 2019, respectively, as the effect would be antidilutive.