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Earnings Per Share
 9 Months Ended
Jan. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share 
We calculate basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted earnings per share further includes the dilutive effect of stock-based compensation awards, including stock options, stock-settled stock appreciation rights, restricted stock units, deferred stock units, and shares of restricted stock.  We calculate that dilutive effect using the “treasury stock method” (as defined by GAAP).

Some restricted shares have non-forfeitable rights to dividends declared on common stock.  As a result, these restricted shares are considered participating securities in the calculation of earnings per share.

The following table presents information concerning basic and diluted earnings per share:
 
Three Months Ended
 
Nine Months Ended
 
January 31,
 
January 31,
(Dollars in millions, except per share amounts)
2012
 
2013
 
2012
 
2013
Net income
$
133.1

 
$
157.6

 
$
408.7

 
$
478.0

Income allocated to participating securities
—

 
(0.1
)
 
(0.1
)
 
(0.2
)
Net income available to common stockholders
$
133.1

 
$
157.5

 
$
408.6

 
$
477.8

 
 
 
 
 
 
 
 
Share data (in thousands):
 
 
 
 
 
 
 
Basic average common shares outstanding
212,891

 
213,459

 
214,976

 
213,301

Dilutive effect of stock-based awards
1,608

 
1,592

 
1,543

 
1,612

Diluted average common shares outstanding
214,499

 
215,051

 
216,519

 
214,913

 
 
 
 
 
 
 
 
Basic earnings per share
$
0.63

 
$
0.74

 
$
1.90

 
$
2.24

Diluted earnings per share
$
0.62

 
$
0.73

 
$
1.89

 
$
2.22



We excluded common stock-based awards for approximately 581,000 shares and 524,000 shares from the calculation of diluted earnings per share for the three months ended January 31, 2012 and 2013, respectively. We excluded common stock-based awards for approximately 581,000 shares and 531,000 shares from the calculation of diluted earnings per share for the nine months ended January 31, 2012 and 2013, respectively. We excluded those awards because they were not dilutive for those periods under the treasury stock method.

As discussed in Note 11, previously reported share and per share amounts have been restated in the accompanying financial statements and related notes to reflect the stock split.