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:



	2018			2017			2016
Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(5.0	)	$	52.4		$	43.9
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax	—			(0.2		)	(3.5		)
Net income (loss) attributable to Class A and Common Shares	(5.0		)	52.2			40.4
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)	35.0			34.7			34.1
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions)	—			0.7			0.8
Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions)	35.0			35.4			34.9

Earnings (loss) per share of Class A Stock and Common Stock
Basic earnings (loss) per share:
Earnings (loss) from continuing operations	$	(0.14	)	$	1.51		$	1.29
Earnings (loss) from discontinued operations, net of tax	$	—		$	(0.00	)	$	(0.11	)
Net income (loss)	$	(0.14	)	$	1.51		$	1.18
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations	$	(0.14	)	$	1.48		$	1.26
Earnings (loss) from discontinued operations, net of tax	$	—		$	(0.01	)	$	(0.10	)
Net income (loss)	$	(0.14	)	$	1.47		$	1.16

Earnings from continuing operations exclude earnings of $0.1 and $0.1 for the fiscal years ended May 31, 2017 and 2016, respectively, for earnings attributable to participating restricted stock units.

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. There were less than 0.1 million of potentially anti-dilutive shares outstanding pursuant to compensation plans as of May 31, 2018.

A portion of the Company’s restricted stock units which are granted to employees participate in earnings through cumulative dividends which are payable and non-forfeitable to the employees upon vesting of the restricted stock units. Accordingly, the Company measures earnings per share based upon the lower of the Two-class method or the Treasury Stock method.

The following table sets forth Options outstanding pursuant to stock-based compensation plans for the fiscal years ended May 31:



	2018	2017
Options outstanding pursuant to stock-based compensation plans (in millions)	2.8	2.7

As of May 31, 2018, $61.4 remains available for future purchases of common shares under the current repurchase authorization of the Board of Directors.

See Note 12, “Treasury Stock,” for a more complete description of the Company’s share buy-back program.