Earnings Per Share

12 Months Ended

May 31, 2023

NOTE L — EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share for the years ended May 31, 2023, 2022 and 2021:


Year Ended May 31,	2023			2022			2021
(In thousands, except per share amounts)
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	478,691		$	491,481		$	502,643
Less: Allocation of earnings and dividends to participating securities		(2,156	)		(3,924	)		(4,018	)
Net income available to common shareholders - basic		476,535			487,557			498,625
Reverse: Allocation of earnings and dividends to participating securities		2,156			3,924			-
Add: Undistributed earnings reallocated to unvested shareholders		-			-			13
Net income available to common shareholders - diluted	$	478,691		$	491,481		$	498,638
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		127,507			127,948			128,334
Average diluted options and awards		1,309			1,632			593
Total shares for diluted earnings per share (1)		128,816			129,580			128,927
Earnings Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	3.74		$	3.81		$	3.89
Method used to calculate basic earnings per share	Two-Class			Two-Class			Two-Class
Diluted Earnings Per Share of Common Stock	$	3.72		$	3.79		$	3.87
Method used to calculate diluted earnings per share	Treasury			Treasury			Two-Class

(1)

For the years ended May 31, 2023, 2022 and 2021, approximately 750,000, 655,000 and 362,016 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted EPS, as the effect would have been anti-dilutive.