Earnings Per Share

9 Months Ended

Feb. 28, 2014

Earnings Per Share

NOTE L – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended February 28, 2014 and 2013:

	Three Months Ended February 28,				Nine Months Ended February 28,
(in thousands, except per share amounts)	2014		2013		2014		2013
Numerator (basic & diluted):
Net earnings attributable to controlling interest – income available to common shareholders	$	40,603	$	37,131	$	118,137	$	102,919
Denominator:
Denominator for basic earnings per share attributable to controlling interest – weighted average common shares		68,895		69,791		69,268		68,998
Effect of dilutive securities		2,633		2,123		2,642		1,503
Denominator for diluted earnings per share attributable to controlling interest – adjusted weighted average common shares		71,528		71,914		71,910		70,501
Basic earnings per share attributable to controlling interest	$	0.59	$	0.53	$	1.71	$	1.49
Diluted earnings per share attributable to controlling interest	$	0.57	$	0.52	$	1.64	$	1.46

Stock options covering common shares of 9,922 for the three months ended February 28, 2014 and 8,048 and 673,789 for the nine months ended February 28, 2014 and 2013, respectively, have been excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive.