Earnings per Share (Tables)

9 Months Ended

Feb. 29, 2012

Earnings per Share

Computation of basic and diluted earnings per share

(In thousands except per share data)	Three Months Ended				Nine Months Ended
	February 29,		February 28,		February 29,		February 28,
	2012		2011		2012		2011
Basic Earnings per Share
Net income	$	76,035	$	59,070	$	219,023	$	176,213
Less dividends to:
Common shares	$	---	$	---	$	70,055	$	71,197
Unvested shares	---		---		765		615
Total dividends	$	---	$	---	$	70,820	$	71,812
Undistributed net income	$	76,035	$	59,070	$	148,203	$	104,401
Less: net income allocated to participating unvested securities	556		316		1,096		564
Net income available to common shareholders	$	75,479	$	58,754	$	147,107	$	103,837
Basic weighted average common shares outstanding	129,735		145,303		130,261		147,686
Basic earnings per share:
Common shares – distributed earnings	$	0.00	$	0.00	$	0.54	$	0.49
Common shares – undistributed earnings	0.58		0.41		1.13		0.70
Total common shares	$	0.58	$	0.41	$	1.67	$	1.19
Unvested shares - distributed earnings	$	0.00	$	0.00	$	0.54	$	0.49
Unvested shares - undistributed earnings	0.58		0.41		1.13		0.70
Total unvested shares	$	0.58	$	0.41	$	1.67	$	1.19

(In thousands except per share data)	Three Months Ended				Nine Months Ended
	February 29,		February 28,		February 29,		February 28,
	2012		2011		2012		2011
Diluted Earnings per Share
Net income	$	76,035	$	59,070	$	219,023	$	176,213
Less dividends to:
Common shares	$	---	$	---	$	70,055	$	71,197
Unvested shares	---		---		765		615
Total dividends	$	---	$	---	$	70,820	$	71,812
Undistributed net income	$	76,035	$	59,070	$	148,203	$	104,401
Less: net income allocated to participating unvested securities	556		316		1,096		564
Net income available to common shareholders	$	75,479	$	58,754	$	147,107	$	103,837
Basic weighted average common shares outstanding	129,735		145,303		130,261		147,686
Effect of dilutive securities – employee stock options	210		---		60		---
Diluted weighted average common shares outstanding	129,945		145,303		130,321		147,686
Diluted earnings per share:
Common shares – distributed earnings	$	0.00	$	0.00	$	0.54	$	0.49
Common shares – undistributed earnings	0.58		0.41		1.13		0.70
Total common shares	$	0.58	$	0.41	$	1.67	$	1.19
Unvested shares - distributed earnings	$	0.00	$	0.00	$	0.54	$	0.49
Unvested shares - undistributed earnings	0.58		0.41		1.13		0.70
Total unvested shares	$	0.58	$	0.41	$	1.67	$	1.19