Earnings Per Share

12 Months Ended

Apr. 30, 2017

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. 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:



	2015		2016		2017
Net income available to common stockholders	$	684	$	1,067	$	669
Share data (in thousands):
Basic average common shares outstanding	423,185		405,953		387,708
Dilutive effect of stock-based awards	2,980		2,607		2,753
Diluted average common shares outstanding	426,165		408,560		390,461

Basic earnings per share	$	1.62	$	2.63	$	1.72
Diluted earnings per share	$	1.60	$	2.61	$	1.71

We excluded common stock-based awards for approximately 723,000 shares, 905,000 shares, and 1,716,000 shares from the calculation of diluted earnings per share for 2015, 2016, and 2017, respectively, because they were not dilutive for those periods under the treasury stock method.