Earnings Per Share

12 Months Ended

May 31, 2025

Earnings Per Share

Earnings Per Share

9. Earnings Per Share

The computation of basic earnings per share is based on the weighted average number of common shares outstanding during each period. The computation of diluted earnings per share is based on the weighted average number of common shares outstanding during the period plus, when their effect is dilutive, incremental shares consisting of shares subject to stock options as shown below:

	For the Year Ended
	May 31,
	2025		2024		2023
Weighted average common shares outstanding – basic		35.6		35.1		34.7
Additional shares from assumed exercise of stock options		0.2		0.3		0.4
Weighted average common shares outstanding – diluted		35.8		35.4		35.1

At May 31, 2025 and 2023, respectively, outstanding options to purchase 151,000 and 197,300 shares of common stock were not included in the computation of diluted earnings per share, because the exercise price of these options was greater than the average market price of the common shares for the year then ended. At May 31, 2024, no stock options were determined to be anti-dilutive.