Earnings Per Share

6 Months Ended

Oct. 31, 2025

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. 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				Six Months Ended
	October 31,				October 31,
(Dollars in millions, except per share amounts)	2024		2025		2024		2025
Net income available to common stockholders	$	258	$	224	$	453	$	394
Share data (in thousands):
Basic average common shares outstanding	472,660		471,873		472,647		472,233
Dilutive effect of stock-based awards	397		734		350		487
Diluted average common shares outstanding	473,057		472,607		472,997		472,720
Basic earnings per share	$	0.55	$	0.47	$	0.96	$	0.83
Diluted earnings per share	$	0.55	$	0.47	$	0.96	$	0.83

We excluded common stock-based awards for approximately 3,018,000 shares and 4,866,000 shares from the calculation of diluted earnings per share for the three months ended October 31, 2024 and 2025, respectively. We excluded common stock-based awards for approximately 2,800,000 shares and 4,487,000 shares from the calculation of diluted earnings per share for the

six months ended October 31, 2024 and 2025, respectively. We excluded those awards because they were not dilutive for those periods under the treasury stock method.