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 first quarter ended August 31, 2014. For the quarter ended August 31, 2015, the two-class method was used to compute basic earnings per share, while the treasury stock method was utilized for the purpose of computing diluted earnings per share, as that method resulted in the most-dilutive earnings per share.


	Three Months Ended August 31,
(In thousands, except per share amounts)	2015			2014
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	99,815		$	99,079
Less: Allocation of earnings and dividends to participating securities		(1,577	)		(2,179	)

Net income available to common shareholders — basic		98,238			96,900
Add: Undistributed earnings reallocated to unvested shareholders					12
Reverse allocation of earnings and dividends to participating securities		1,577
Add: Income effect of contingently issuable shares		1,356			1,339

Net income available to common shareholders — diluted	$	101,171		$	98,251

Denominator for basic and diluted earnings per share:
Basic weighted average common shares		130,045			130,094
Average diluted options		2,360			1,065
Net issuable common share equivalents		1,023
Additional shares issuable assuming conversion of convertible securities (2)		3,879			3,873

Total shares for diluted earnings per share		137,307			135,032

Earnings Per Share of Common Stock Attributable to RPM International Inc. Stockholders:
Basic	$	0.76		$	0.74

Diluted (1)	$	0.74		$	0.73

(1)	For the quarters ended August 31, 2015 and 2014, approximately 2,201,000 and 3,034,000 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)

Represents the number of shares that would be issued if our contingently convertible notes were converted. We include these shares in the calculation of diluted EPS as the conversion of the notes may be settled, at our election, in cash, shares of our common stock, or a combination of cash and shares of our common stock.