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Earnings Per Share
 9 Months Ended
Jan. 31, 2015
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).

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)
2014
 
2015
 
2014
 
2015
Net income available to common stockholders
$
177

 
$
186

 
$
526

 
$
543

Share data (in thousands):
 
 
 
 
 
 
 
Basic average common shares outstanding
213,151

 
211,126

 
213,493

 
212,189

Dilutive effect of stock-based awards
1,641

 
1,480

 
1,623

 
1,512

Diluted average common shares outstanding
214,792

 
212,606

 
215,116

 
213,701

 
 
 
 
 
 
 
 
Basic earnings per share
$
0.83

 
$
0.88

 
$
2.46

 
$
2.56

Diluted earnings per share
$
0.82

 
$
0.87

 
$
2.45

 
$
2.54



We excluded common stock-based awards for approximately 410,000 shares and 359,000 shares from the calculation of diluted earnings per share for the three months ended January 31, 2014 and 2015, respectively. We excluded common stock-based awards for approximately 411,000 shares and 363,000 shares from the calculation of diluted earnings per share for the nine months ended January 31, 2014 and 2015, respectively. We excluded those awards because they were not dilutive for those periods under the treasury stock method.