Earnings Per Share

6 Months Ended

Nov. 30, 2024

NOTE 11 — EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share ("EPS") for the three- and six-month periods ended November 30, 2024 and 2023.


	Three Months Ended						Six Months Ended
	November 30,			November 30,			November 30,			November 30,
(In thousands, except per share amounts)	2024			2023			2024			2023
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	183,204		$	145,505		$	410,896		$	346,587
Less: Allocation of earnings and dividends to participating securities		(739	)		(707	)		(1,615	)		(1,597	)
Net income available to common shareholders - basic		182,465			144,798			409,281			344,990
Add: Undistributed earnings reallocated to unvested shareholders		3			2			7			4
Net income available to common shareholders - diluted	$	182,468		$	144,800		$	409,288		$	344,994
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		127,658			127,758			127,675			127,816
Average diluted options and awards		686			491			717			496
Total shares for diluted earnings per share (1)		128,344			128,249			128,392			128,312
Earnings Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	1.43		$	1.13		$	3.21		$	2.70
Method used to calculate basic earnings per share	Two-class			Two-class			Two-class			Two-class
Diluted Earnings Per Share of Common Stock	$	1.42		$	1.13		$	3.19		$	2.69
Method used to calculate diluted earnings per share	Two-class			Two-class			Two-class			Two-class

(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 three and six months ended November 30, 2024, approximately 300,000 and 230,000 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. For the three and six months ended November 30, 2023, approximately 360,000 and 280,000 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.