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 periods indicated:



	Three months ended						Nine months ended
	February 28,			February 29,			February 28,		February 29,
	2017			2016			2017		2016
Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(15.5	)	$	(7.2	)	$	12.9	$	9.1
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax	0.1			(1.8		)	0.0		(2.6		)
Net income (loss) attributable to Class A and Common Shares	$	(15.4	)	$	(9.0	)	$	12.9	$	6.5
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)	34.8			34.3			34.6		34.0
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions)	—			—			0.7		0.9
Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions)	34.8			34.3			35.3		34.9
Earnings (loss) per share of Class A Stock and Common Stock:
Basic earnings (loss) per share:
Earnings (loss) from continuing operations	$	(0.45	)	$	(0.21	)	$	0.37	$	0.27
Earnings (loss) from discontinued operations, net of tax	$	0.01		$	(0.05	)	$	0.00	$	(0.08	)
Net income (loss)	$	(0.44	)	$	(0.26	)	$	0.37	$	0.19
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations	$	(0.45	)	$	(0.21	)	$	0.36	$	0.26
Earnings (loss) from discontinued operations, net of tax	$	0.01		$	(0.05	)	$	0.00	$	(0.07	)
Net income (loss)	$	(0.44	)	$	(0.26	)	$	0.36	$	0.19

The following table sets forth Options outstanding pursuant to stock-based compensation plans as of the dates indicated:



	February 28, 2017	February 29, 2016
Options outstanding pursuant to stock-based compensation plans (in millions)	2.9	3.4

Earnings from continuing operations exclude earnings of less than $0.1 and less than $0.1 for the nine months ended February 28, 2017 and February 29, 2016, respectively, attributable to participating Restricted Stock Units (“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 0.6 million as of February 28, 2017.

A portion of the Company’s Restricted Stock Units ("RSUs") which are granted to employees participate in earnings through cumulative dividends which are payable and non-forfeitable 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. Since, under the Two-class method, losses are not allocated to the participating securities, in periods of loss the Two-class method is not applicable.

As of February 28, 2017, $39.5 remained available for future purchases of common shares under the current repurchase authorization of the Board of Directors (the "Board"). See Note 11, “Treasury Stock,” for a more complete description of the Company’s share buy-back program.