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Earnings Per Share
 12 Months Ended
May 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

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, 2024, 2023 and 2022:

Year Ended May 31,

 

2024

 

 

2023

 

 

2022

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

Numerator for earnings per share:

 

 

 

 

 

 

 

 

 

Net income attributable to RPM International Inc. stockholders

 

$

588,397

 

 

$

478,691

 

 

$

491,481

 

Less: Allocation of earnings and dividends to participating securities

 

 

(2,630

)

 

 

(2,156

)

 

 

(3,924

)

Net income available to common shareholders - basic

 

 

585,767

 

 

 

476,535

 

 

 

487,557

 

Reverse: Allocation of earnings and dividends to participating securities

 

 

-

 

 

 

2,156

 

 

 

3,924

 

Add: Undistributed earnings reallocated to unvested shareholders

 

 

8

 

 

 

-

 

 

 

-

 

Net income available to common shareholders - diluted

 

$

585,775

 

 

$

478,691

 

 

$

491,481

 

Denominator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

Basic weighted average common shares

 

 

127,767

 

 

 

127,507

 

 

 

127,948

 

Average diluted options and awards

 

 

573

 

 

 

1,309

 

 

 

1,632

 

Total shares for diluted earnings per share (1)

 

 

128,340

 

 

 

128,816

 

 

 

129,580

 

Earnings Per Share of Common Stock Attributable to

 

 

 

 

 

 

 

 

 

RPM International Inc. Stockholders:

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share of Common Stock

 

$

4.58

 

 

$

3.74

 

 

$

3.81

 

Method used to calculate basic earnings per share

 

Two-Class

 

 

Two-Class

 

 

Two-Class

 

Diluted Earnings Per Share of Common Stock

 

$

4.56

 

 

$

3.72

 

 

$

3.79

 

Method used to calculate diluted earnings per share

 

Two-Class

 

 

Treasury

 

 

Treasury

 
(1)
The dilutive effect of performance-based restricted stock units is included when they have met minimum performance thresholds. The dilutive effect of SARs includes all outstanding awards except awards that are considered antidilutive. SARs are antidilutive when the exercise price exceeds the average market price of the Company’s common shares during the periods presented. For the years ended May 31, 2024, 2023 and 2022, approximately 260,000, 750,000 and 655,000 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.