Earnings per Share (Tables)

12 Months Ended

May 31, 2012

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per share

(In thousands except per share data)	2012		2011		2010
Basic Earnings per Share
Net income	$	297,637	$	246,989	$	215,620
Less dividends to:
Common shares	$	70,055	$	71,197	$	73,377
Unvested shares	765		615		583
Total dividends	$	70,820	$	71,812	$	73,960
Undistributed net income	$	226,817	$	175,177	$	141,660
Less: net income allocated to participating unvested securities	1,880		1,097		661
Net income available to common shareholders	$	224,937	$	174,080	$	140,999
Basic weighted average common shares outstanding	129,891		146,586		152,858
Basic earnings per share:
Common shares — distributed earnings	$	0.54	$	0.49	$	0.48
Common shares — undistributed earnings	1.73		1.19		0.92
Total common shares	$	2.27	$	1.68	$	1.40
Unvested shares — distributed earnings	$	0.54	$	0.49	$	0.48
Unvested shares — undistributed earnings	1.73		1.19		0.92
Total unvested shares	$	2.27	$	1.68	$	1.40

(In thousands except per share data)	2012		2011		2010
Diluted Earnings per Share
Net income	$	297,637	$	246,989	$	215,620
Less dividends to:
Common shares	$	70,055	$	71,197	$	73,377
Unvested shares	765		615		583
Total dividends	$	70,820	$	71,812	$	73,960
Undistributed net income	$	226,817	$	175,177	$	141,660
Less: net income allocated to participating unvested securities	1,880		1,097		661
Net income available to common shareholders	$	224,937	$	174,080	$	140,999
Basic weighted average common shares outstanding	129,891		146,586		152,858
Effect of dilutive securities — employee stock options	142		—		—
Diluted weighted average common shares outstanding	130,033		146,586		152,858
Diluted earnings per share:
Common shares — distributed earnings	$	0.54	$	0.49	$	0.48
Common shares — undistributed earnings	1.73		1.19		0.92
Total common shares	$	2.27	$	1.68	$	1.40
Unvested shares — distributed earnings	$	0.54	$	0.49	$	0.48
Unvested shares — undistributed earnings	1.73		1.19		0.92
Total unvested shares	$	2.27	$	1.68	$	1.40