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Earnings (Loss) Per Share
 12 Months Ended
May 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
EARNINGS (LOSS) PER SHARE

The following table summarizes the reconciliation of the numerators and denominators for the Basic and Diluted earnings (loss) per share computation for the fiscal years ended May 31:
 
2014
 
2013
 
2012
Earnings (loss) from continuing operations attributable to Class A and
  Common Shares
$
44.2

 
$
35.7

 
$
107.6

Earnings (loss) from discontinued operations attributable to Class A and
  Common Shares, net of tax
0.1

 
(4.7
)
 
(5.7
)
Net income (loss) attributable to Class A and Common Shares
44.3

 
31.0

 
101.9

Weighted average Shares of Class A Stock and Common Stock
  outstanding for basic earnings (loss) per share (in millions)
32.0

 
31.8

 
31.2

Dilutive effect of Class A Stock and Common Stock potentially issuable
  pursuant to stock-based compensation plans (in millions)
0.5

 
0.6

 
0.5

Adjusted weighted average Shares of Class A Stock and Common Stock
  outstanding for diluted earnings (loss) per share (in millions)
32.5

 
32.4

 
31.7

 
 

 
 

 
 

Earnings (loss) per share of Class A Stock and Common Stock
 
 
 
 
 
Basic earnings (loss) per share:
 
 
 
 
 
Earnings (loss) from continuing operations
$
1.38

 
$
1.12

 
$
3.45

Earnings (loss) from discontinued operations, net of tax
$
0.01

 
$
(0.15
)
 
$
(0.18
)
Net income (loss)
$
1.39

 
$
0.97

 
$
3.27

Diluted earnings (loss) per share:
 

 
 

 
 

Earnings (loss) from continuing operations
$
1.36

 
$
1.10

 
$
3.39

Earnings (loss) from discontinued operations, net of tax
$
0.00

 
$
(0.15
)
 
$
(0.18
)
Net income (loss)
$
1.36

 
$
0.95

 
$
3.21



Earnings from continuing operations exclude earnings of $0.1, $0.1 and $0.5 for the years ended May 31, 2014, 2013 and 2012, respectively, for earnings attributable to participating RSUs.

In a period in which the Company reports a discontinued operation, Earnings (loss) from continuing operations is used as the “control number” in determining whether potentially dilutive common shares are dilutive or anti-dilutive. Potentially dilutive shares outstanding pursuant to compensation plans that were not included in the diluted earnings per share calculation because they were anti-dilutive were 1.3 million as of May 31, 2014.

A portion of the Company’s RSUs granted to employees participates in earnings through cumulative non-forfeitable dividends payable to the employees upon vesting of the RSUs. Accordingly, the Company measures earnings per share based upon
the lower of the Two-class method or the Treasury Stock method.

Options outstanding pursuant to compensation plans were 4.4 million and 4.2 million as of May 31, 2014 and 2013, respectively.

As of May 31, 2014, $13.4 remains available for future purchases of common shares under the current repurchase authorization of the Board of Directors.

See Note 11, “Treasury Stock,” for a more complete description of the Company’s share buy-back program.