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Basic and Diluted Earnings Per Share
 12 Months Ended
May 31, 2023
Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Share

Note C — Basic and Diluted Earnings Per Share

 

Basic and diluted earnings per share were calculated as follows:

 

 

 

Year ended May 31,

 

In millions, except per share amounts

 

2023

 

 

2022

 

 

2021

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

 

1,557.3

 

 

$

 

1,392.8

 

 

$

 

1,097.5

 

Weighted-average common shares outstanding

 

 

 

360.4

 

 

 

 

360.6

 

 

 

 

359.9

 

Basic earnings per share

 

$

 

4.32

 

 

$

 

3.86

 

 

$

 

3.05

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

 

1,557.3

 

 

$

 

1,392.8

 

 

$

 

1,097.5

 

Weighted-average common shares outstanding

 

 

 

360.4

 

 

 

 

360.6

 

 

 

 

359.9

 

Dilutive effect of common share equivalents

 

 

 

1.9

 

 

 

 

2.5

 

 

 

 

2.2

 

Weighted-average common shares outstanding, assuming dilution

 

 

 

362.3

 

 

 

 

363.1

 

 

 

 

362.1

 

Diluted earnings per share

 

$

 

4.30

 

 

$

 

3.84

 

 

$

 

3.03

 

Weighted-average anti-dilutive common share equivalents

 

 

 

0.7

 

 

 

 

0.2

 

 

 

 

0.6

 

 

Weighted-average common share equivalents that had an anti-dilutive impact are excluded from the computation of diluted earnings per share.