Earnings (Loss) Per Share

3 Months Ended

Aug. 31, 2019

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 August 31,
	2019	2018
Net income (loss) attributable to Class A and Common Shares	$(58.5)	$(61.3)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)	34.9	35.0
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) *	*	*
Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions)	*	*
Earnings (loss) per share of Class A Stock and Common Stock:
Basic	$(1.68)	$(1.75)
Diluted	$(1.68)	$(1.75)

* For the three month periods ended August 31, 2019 and August 31, 2018, the Company experienced a loss from operations and therefore, there is no dilutive share impact.

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



	August 31, 2019	August 31, 2018
Options outstanding pursuant to stock-based compensation plans (in millions)	3.0	2.7

There were 1.8 million of potentially anti-dilutive shares pursuant to stock-based compensation plans as of August 31, 2019.

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. For the three month periods ended August 31, 2019 and August 31, 2018, the Company experienced a Net loss and did not allocate any losses to the participating RSUs.

As of August 31, 2019, $40.2 remained available for future purchases of common shares under the repurchase authorization of the Board of Directors (the "Board") in effect on that date. See Note 12, Treasury Stock, for a more complete description of the Company’s share buy-back program.