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Earnings Per Share (Tables)

6 Months Ended

Nov. 30, 2021

Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share for the three- and six-month periods ended November 30, 2021 and 2020.


	Three Months Ended						Six Months Ended
	November 30,			November 30,			November 30,			November 30,
(In thousands, except per share amounts)	2021			2020			2021			2020
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	124,875		$	127,659		$	259,457		$	308,254
Less: Allocation of earnings and dividends to participating securities		(1,103	)		(1,130	)		(2,198	)		(2,517	)
Net income available to common shareholders - basic		123,772			126,529			257,259			305,737
Add: Undistributed earnings reallocated to unvested shareholders		2			4			6			9
Net income available to common shareholders - diluted	$	123,774		$	126,533		$	257,265		$	305,746
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		128,022			128,500			128,058			128,459
Average diluted options and awards		472			590			479			619
Total shares for diluted earnings per share (1)		128,494			129,090			128,537			129,078
Earnings Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	0.97		$	0.98		$	2.01		$	2.38
Method used to calculate basic earnings per share	Two-class			Two-class			Two-class			Two-class
Diluted Earnings Per Share of Common Stock	$	0.96		$	0.98		$	2.00		$	2.37
Method used to calculate diluted earnings per share	Two-class			Two-class			Two-class			Two-class

(1) For the three and six months ended November 30, 2021, no restricted shares were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. For the three and six months ended November 30, 2020, restricted shares totaling 225,500 and 339,550 were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. In addition, stock appreciation rights (“SARs”) totaling 660,000 for both the three and six months ended November 30, 2021, and 360,000 for both the three and six months ended November 30, 2020, were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive.