The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share for the three and nine months ended February 29, 2016 and February 28, 2015:

	Three Months Ended						Nine Months Ended
	February 29/28,						February 29/28,
(In thousands, except per share amounts)	2016			2015			2016			2015
Numerator for earnings per share:
Net income (loss) attributable to RPM International Inc. stockholders	$	18,582		$	(57,348	)	$	201,830		$	111,497
Less: Allocation of earnings and dividends to participating securities		(316	)					(3,375	)		(2,347	)
Net income (loss) available to common shareholders - basic		18,266			(57,348	)		198,455			109,150
Add: Undistributed earnings reallocated to unvested shareholders											2
Reverse: Allocation of earnings and dividends to participating securities								3,375
Add: Income effect of contingently issuable shares								4,067			4,026
Net income (loss) available to common shareholders - diluted	$	18,266		$	(57,348	)	$	205,897		$	113,178
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		129,068			129,795			129,506			130,039
Average diluted options								3,456			1,080
Additional shares issuable assuming conversion of convertible securities								3,886			3,876
Total shares for diluted earnings per share (1), (2)		129,068			129,795			136,848			134,995
Earnings (Loss) Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings (Loss) Per Share of Common Stock	$	0.14		$	(0.44	)	$	1.53		$	0.84
Diluted Earnings (Loss) Per Share of Common Stock	$	0.14		$	(0.44	)	$	1.50		$	0.84

(1)

For the three months ended February 28, 2015, basic weighted-average shares outstanding and basic net income available to common shareholders under the treasury method are used in calculating basic and diluted earnings per share as a result of the reported loss for the period. For the three month period ended February 29, 2016, basic weighted-average shares outstanding and basic net income available to common shareholders are used in calculating diluted earnings per share under the two-class method, as that method resulted in the most dilutive earnings per share. For the nine month period ended February 29, 2016, basic and diluted earnings per share are calculated under the two-class method and the treasury method, respectively, as those methods resulted in the most dilutive earnings per share.

(2)	For the nine month period ended February 28, 2015, approximately 3.0 million shares of stock granted under stock-based compensation plans were excluded from the calculation of diluted EPS, as the effect would have been anti-dilutive.