Earnings (Loss) Per Share

3 Months Ended

Aug. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

6. 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 three-month periods ended August 31, 2013 and 2012, respectively:

	Three months ended
	August 31, 2013			August 31, 2012
Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(30.1	)	$	(31.7	)
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax		0.2			(0.4	)
Net income (loss) attributable to Class A and Common Shares	$	(29.9	)	$	(32.1	)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)		31.8			31.5
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 earnings (loss) per share:
Earnings (loss) from continuing operations	$	(0.94	)	$	(1.01	)
Earnings (loss) from discontinued operations, net of tax	$	0.00		$	(0.01	)
Net income (loss)	$	(0.94	)	$	(1.02	)
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations	$	(0.94	)	$	(1.01	)
Earnings (loss) from discontinued operations, net of tax	$	0.00		$	(0.01	)
Net income (loss)	$	(0.94	)	$	(1.02	)

* In each of the three month periods ended August 31, 2013 and 2012, the Company experienced a loss from continuing operations and therefore did not report any dilutive share impact.

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

	August 31, 2013		August 31, 2012
Options outstanding pursuant to stock-based compensation plans (in millions)		4.0		5.1

In periods of Net loss, dilutive earnings per share are not reported as the effect of the potentially dilutive shares becomes anti-dilutive.

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.

A portion of the Company’s restricted stock units (“RSUs”) which are granted to employees participate 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. 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 August 31, 2013, $19.0 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.