Earnings Per Share

12 Months Ended

May 31, 2012

Earnings Per Share

Note L — Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended May 31:

(in thousands, except per share)	2012		2011		2010
Numerator (basic & diluted):
Net earnings attributable to controlling interest –income available to common shareholders	$	115,595	$	115,066	$	45,241
Denominator:
Denominator for basic earnings per share attributable to controlling interest – weighted average common shares		69,651		74,803		79,127
Effect of dilutive securities		601		606		16
Denominator for diluted earnings per share attributable to controlling interest – adjusted weighted average common shares		70,252		75,409		79,143
Basic earnings per share attributable to controlling interest	$	1.66	$	1.54	$	0.57
Diluted earnings per share attributable to controlling interest		1.65		1.53		0.57

Stock options covering 3,451,046, 3,620,287 and 5,820,514 common shares for fiscal 2012, fiscal 2011 and fiscal 2010, respectively, have been excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive for those periods because the exercise price of the stock options was greater than the average market price of the common shares during the period.