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Earnings Per Share
 3 Months Ended
Aug. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 10 — 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 first quarter ended August 31, 2016.  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)

 

2016

 

 

2015

 

Numerator for earnings per share:

 

 

 

 

 

 

 

 

Net income attributable to RPM International Inc.

   stockholders

 

$

112,769

 

 

$

99,815

 

Less:  Allocation of earnings and dividends to

   participating securities

 

 

(1,819

)

 

 

(1,577

)

Net income available to common

   shareholders - basic

 

 

110,950

 

 

 

98,238

 

Add:  Undistributed earnings reallocated to unvested

   shareholders

 

 

7

 

 

 

 

 

Reverse:  Allocation of earnings and dividends to

   participating securities

 

 

 

 

 

 

1,577

 

Add:  Income effect of contingently issuable shares

 

 

1,362

 

 

 

1,356

 

Net income available to common

   shareholders - diluted

 

$

112,319

 

 

$

101,171

 

Denominator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

Basic weighted average common shares

 

 

130,600

 

 

 

130,045

 

Average diluted options

 

 

749

 

 

 

3,383

 

Additional shares issuable assuming conversion of

   convertible securities (1)

 

 

3,892

 

 

 

3,879

 

Total shares for diluted earnings per share

 

 

135,241

 

 

 

137,307

 

Earnings Per Share of Common Stock Attributable to

 

 

 

 

 

 

 

 

RPM International Inc. Stockholders:

 

 

 

 

 

 

 

 

Basic Earnings Per Share of Common Stock

 

$

0.85

 

 

$

0.76

 

Diluted Earnings Per Share of Common Stock

 

$

0.83

 

 

$

0.74

 

 

(1)

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.