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Earnings Per Share
 6 Months Ended
Oct. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share 
We calculate basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share further includes the dilutive effect of stock-based compensation awards, including stock options, stock-settled stock appreciation rights, restricted stock units, deferred stock units, and shares of restricted stock. We calculate that dilutive effect using the “treasury stock method” (as defined by GAAP).

The following table presents information concerning basic and diluted earnings per share:
 
Three Months Ended
 
Six Months Ended
 
October 31,
 
October 31,
(Dollars in millions, except per share amounts)
2013
 
2014
 
2013
 
2014
Net income available to common stockholders
$
206

 
$
208

 
$
349

 
$
358

Share data (in thousands):
 
 
 
 
 
 
 
Basic average common shares outstanding
213,587

 
212,087

 
213,634

 
212,674

Dilutive effect of stock-based awards
1,617

 
1,482

 
1,614

 
1,528

Diluted average common shares outstanding
215,204

 
213,569

 
215,248

 
214,202

 
 
 
 
 
 
 
 
Basic earnings per share
$
0.97

 
$
0.98

 
$
1.63

 
$
1.68

Diluted earnings per share
$
0.96

 
$
0.97

 
$
1.62

 
$
1.67



We excluded common stock-based awards for approximately 410,000 shares and 363,000 shares from the calculation of diluted earnings per share for the three months ended October 31, 2013 and 2014, respectively. We excluded common stock-based awards for approximately 412,000 shares and 365,000 shares from the calculation of diluted earnings per share for the six months ended October 31, 2013 and 2014, respectively. We excluded those awards because they were not dilutive for those periods under the treasury stock method.