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 three and six months ended November 30, 2012 and 2011:


	Three Months Ended November 30,						Six Months Ended November 30,
(In thousands, except per share amounts)	2012			2011			2012			2011
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	41,668		$	49,931		$	75,581		$	126,742
Less: Allocation of earnings and dividends to participating securities		(929	)		(979	)		(1,526	)		(2,297	)

Net income available to common shareholders — basic		40,739			48,952			74,055			124,445
Add: Undistributed earnings reallocated to unvested shareholders		2			2			2			5

Net income available to common shareholders — diluted	$	40,741		$	48,954		$	74,057		$	124,450

Denominator for basic and diluted earnings per share:
Basic weighted average common shares		128,885			127,986			128,844			128,048
Average diluted options		815			446			791			489
Net issuable common share equivalents

Total shares for diluted earnings per share (1), (2)		129,700			128,432			129,635			128,537

Earnings Per Share of Common Stock Attributable to RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	0.32		$	0.38		$	0.57		$	0.97

Diluted Earnings Per Share of Common Stock	$	0.31		$	0.38		$	0.57		$	0.97

(1)	For the quarters ended November 30, 2012 and 2011, approximately 3,151,000 shares and 2,722,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted EPS for those periods, as the effect would have been anti-dilutive.

(2)	For the six month periods ended November 30, 2012 and 2011, approximately 2,970,000 shares and 2,522,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted EPS for those periods, as the effect would have been anti-dilutive.