Earnings Per Share (Tables)

9 Months Ended

Feb. 28, 2021

Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share for the three- and nine-month periods ended February 28, 2021 and February 29, 2020.

	Three Months Ended					Nine Months Ended
	February 28,			February 29,		February 28,			February 29,
(In thousands, except per share amounts)	2021			2020		2021			2020
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	38,242		$	11,853	$	346,496		$	195,072
Less: Allocation of earnings and dividends to participating securities		(185	)		-		(2,740	)		(1,199	)
Net income available to common shareholders - basic		38,057			11,853		343,756			193,873
Add: Undistributed earnings reallocated to unvested shareholders		-			-		9			2
Reverse: Allocation of earnings and dividends to participating securities		185			-		-			-
Net income available to common shareholders - diluted	$	38,242		$	11,853	$	343,765		$	193,875
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		128,447			128,426		128,455			128,572
Average diluted options and awards		1,502			1,602		597			666
Total shares for diluted earnings per share (1)		129,949			130,028		129,052			129,238
Earnings Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	0.30		$	0.09	$	2.68		$	1.51
Method used to calculate basic earnings per share	Two-class			Treasury		Two-class			Two-class
Diluted Earnings Per Share of Common Stock	$	0.29		$	0.09	$	2.66		$	1.50
Method used to calculate diluted earnings per share	Treasury			Treasury		Two-class			Two-class

(1)

Restricted shares totaling 225,500 and 231,450 for the three and nine months ended February 28, 2021, respectively, were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. There were no shares of restricted stock identified as being anti-dilutive for the three or nine months ended February 29, 2020. In addition, stock appreciation rights (“SARs”) totaling 360,000 and for the three and nine months ended February 28, 2021 were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. There were no SARs identified as being anti-dilutive for the three or nine months ended February 29, 2020.