EARNINGS PER SHARE

6 Months Ended

Nov. 30, 2011

EARNINGS PER SHARE

NOTE 12 — EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share, as calculated using the two-class method, for the six months ended November 30, 2011 and 2010.

	Quarter Ended November 30,						Six Months Ended November 30,
(In thousands, except per share amounts)	2011			2010			2011			2010
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	49,931		$	48,791		$	126,742		$	117,787
Less: Allocation of earnings and dividends to participating securities		(979	)		(830	)		(2,297	)		(1,712	)
Net income available to common shareholders — basic		48,952			47,961			124,445			116,075
Add: Undistributed earnings reallocated to unvested shareholders		2			2			5			4
Net income available to common shareholders — diluted	$	48,954		$	47,963		$	124,450		$	116,079
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		127,986			127,012			128,048			127,491
Average diluted options		446			658			489			559
Total shares for diluted earnings per share (1), (2)		128,432			127,670			128,537			128,050
Earnings Per Share of Common Stock Attributable to RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	0.38		$	0.38		$	0.97		$	0.91
Diluted Earnings Per Share of Common Stock (1), (2)	$	0.38		$	0.38		$	0.97		$	0.91

(1) For the quarters ended November 30, 2011 and 2010, approximately 2,722,000 and 2,197,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive.

(2) For the six month periods ended November 30, 2011 and 2010, approximately 2,522,000 and 1,867,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive.