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Basic and Diluted Earnings Per Share | 12 Months Ended
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May 31, 2020
Basic and Diluted Earnings Per Share [Abstract] |
Basic and Diluted Earnings Per Share | Note C — Basic and Diluted Earnings Per Share Basic and diluted earnings per share were calculated as follows:
|  | Year ended May 31,
In millions, except per share amounts |  | 2020 |  | 2019 |  | 2018
Basic earnings per share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,098.1 |  | $ | 1,034.4 |  | $ | 994.1
Weighted-average common shares outstanding |  |  | 358.5 |  |  | 359.2 |  |  | 359.0
Basic earnings per share |  | $ | 3.06 |  | $ | 2.88 |  | $ | 2.77
Diluted earnings per share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,098.1 |  | $ | 1,034.4 |  | $ | 994.1
Weighted-average common shares outstanding |  |  | 358.5 |  |  | 359.2 |  |  | 359.0
Dilutive effect of common share equivalents |  |  | 2.5 |  |  | 2.6 |  |  | 2.5
Weighted-average common shares outstanding, assuming dilution |  |  | 361.0 |  |  | 361.8 |  |  | 361.5
Diluted earnings per share |  | $ | 3.04 |  | $ | 2.86 |  | $ | 2.75
Weighted-average anti-dilutive common share equivalents |  |  | 0.7 |  |  | 0.4 |  |  | 0.7
Weighted-average common share equivalents that had an anti-dilutive impact are excluded from the computation of diluted earnings per share. In May 2019, the Company announced that its Board approved a program to repurchase up to $400.0 million of its common stock, with authorization expiring on May 31, 2022. During fiscal 2020, the Company repurchased 2.0 million shares for $171.9 million under this repurchase program. During fiscal 2019 and fiscal 2018, the Company repurchased 0.7 million shares for $56.9 million and 2.5 million shares for $143.1 million, respectively, under a previously authorized repurchase program. The purpose of these programs is to manage common stock dilution. All shares of common stock repurchased were retired.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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