Earnings Per Share

12 Months Ended

Apr. 30, 2019

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. 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:



	2017		2018		2019
Net income available to common stockholders	$	669	$	717	$	835
Share data (in thousands):
Basic average common shares outstanding	484,635		480,319		478,956
Dilutive effect of stock-based awards	3,442		3,929		3,111
Diluted average common shares outstanding	488,077		484,248		482,067

Basic earnings per share	$	1.38	$	1.49	$	1.74
Diluted earnings per share	$	1.37	$	1.48	$	1.73

We excluded common stock-based awards for approximately 2,145,000 shares, 805,000 shares, and 447,000 shares from the calculation of diluted earnings per share for 2017, 2018, and 2019, respectively, because they were not dilutive for those periods under the treasury stock method.