Earnings Per Share

3 Months Ended

Aug. 31, 2024

EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share includes the dilutive effect of potential common stock consisting of stock options, restricted stock units and performance stock units, provided that the inclusion of such securities is not anti-dilutive. In periods with a net loss, stock options and restricted stock units are not included in the computation of diluted loss per share as the impact would be anti-dilutive.

The following table reconciles basic to diluted weighted-average shares outstanding:


	Three Months Ended
(in thousands)	Aug 31, 2024	Aug 31, 2023
Basic	40,653	39,842
Effect of dilutive securities	—	126
Diluted	40,653	39,968

Securities excluded as their inclusion would be anti-dilutive	5,180	3,401