Earnings Per Share

12 Months Ended

May 31, 2014

Earnings Per Share

Note M – 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 amounts)	2014		2013		2012
Numerator (basic & diluted):
Net earnings attributable to controlling interest – income available to common shareholders	$	151,300	$	136,442	$	115,595
Denominator:
Denominator for basic earnings per share attributable to controlling interest – weighted average common shares		68,944		69,301		69,651
Effect of dilutive securities		2,720		2,013		601
Denominator for diluted earnings per share attributable to controlling interest – adjusted weighted average common shares		71,664		71,314		70,252
Basic earnings per share attributable to controlling interest	$	2.19	$	1.97	$	1.66
Diluted earnings per share attributable to controlling interest		2.11		1.91		1.65

Stock options covering 7,945, 257,667, and 3,451,046 common shares for fiscal 2014, fiscal 2013 and fiscal 2012, 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.