Earnings per Share (Tables)

3 Months Ended

Jul. 31, 2023

Earnings Per Share [Abstract]

Computation of basic earnings per common share under two-class method

The following table sets forth the computation of basic and diluted earnings per share under the two-class method.

	Three Months Ended July 31,
	2023		2022
Net income	$	183.6	$	109.8
Less: Net income allocated to participating securities	0.1		0.2
Net income allocated to common stockholders	$	183.5	$	109.6
Weighted-average common shares outstanding	102.4		106.3
Add: Dilutive effect of stock options	0.1		0.1
Weighted-average common shares outstanding – assuming dilution	102.5		106.4
Net income per common share	$	1.79	$	1.03
Net income per common share – assuming dilution	$	1.79	$	1.03

Computation of diluted earnings per common share under two-class method

The following table sets forth the computation of basic and diluted earnings per share under the two-class method.

	Three Months Ended July 31,
	2023		2022
Net income	$	183.6	$	109.8
Less: Net income allocated to participating securities	0.1		0.2
Net income allocated to common stockholders	$	183.5	$	109.6
Weighted-average common shares outstanding	102.4		106.3
Add: Dilutive effect of stock options	0.1		0.1
Weighted-average common shares outstanding – assuming dilution	102.5		106.4
Net income per common share	$	1.79	$	1.03
Net income per common share – assuming dilution	$	1.79	$	1.03

Computation of earnings per common share, basic and diluted

The following table sets forth the computation of diluted earnings per share under the treasury stock method.

	Three Months Ended July 31,
	2023		2022
Net income	$	183.6	$	109.8
Weighted-average common shares outstanding – assuming dilution:
Weighted-average common shares outstanding	102.4		106.3
Add: Dilutive effect of stock options	0.1		0.1
Add: Dilutive effect of restricted shares, restricted stock units, and performance units	0.3		0.4
Weighted-average common shares outstanding – assuming dilution	102.8		106.8
Net income per common share – assuming dilution	$	1.79	$	1.03