Earnings Per Share

9 Months Ended

Feb. 29, 2020

NOTE N – Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the periods presented:

	Three Months Ended				Nine Months Ended
(in thousands, except per share amounts)	February 29, 2020		February 28, 2019		February 29, 2020		February 28, 2019
Numerator (basic & diluted):
Net earnings attributable to controlling interest -
income available to common shareholders	$	15,311	$	26,773	$	62,621	$	115,717
Denominator:
Denominator for basic earnings per share attributable to
controlling interest - weighted average common shares		54,930		56,478		55,078		57,650
Effect of dilutive securities		968		1,496		1,086		1,739
Denominator for diluted earnings per share attributable to
controlling interest - adjusted weighted average common shares		55,898		57,974		56,164		59,389

Basic earnings per share attributable to controlling interest	$	0.28	$	0.47	$	1.14	$	2.01
Diluted earnings per share attributable to controlling interest	$	0.27	$	0.46	$	1.11	$	1.95

Stock options covering 405,433 and 309,133 common shares for the three months ended February 29, 2020 and February 28, 2019, respectively, and 396,170 and 316,079 common shares for the nine months ended February 29, 2020 and February 28, 2019, respectively, have been excluded from the computation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive for those periods.