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Earnings Per Share | 3 Months Ended
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Aug. 31, 2014
Earnings Per Share | NOTE 8 — EARNINGS PER SHARE The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share, as calculated using the two-class method, for the three month periods ended August 31, 2014 and 2013:
|  | Three Months Ended August 31, |
(In thousands, except per share amounts) |  | 2014 |  |  | 2013 |
Numerator for earnings per share: |  |  |  |  |  |  |  |
Net income attributable to RPM International Inc. stockholders |  | $ | 99,079 |  |  | $ | 103,098 |
Less: Allocation of earnings and dividends to participating securities |  |  | (2,179 | ) |  |  | (2,285 | )
Net income available to common shareholders — basic |  |  | 96,900 |  |  |  | 100,813 |
Add: Undistributed earnings reallocated to unvested shareholders |  |  | 12 |  |  |  | 12 |
Add: Income effect of contingently issuable shares |  |  | 1,339 |  |  |  |  |
Net income available to common shareholders — diluted |  | $ | 98,251 |  |  | $ | 100,825 |
Denominator for basic and diluted earnings per share: |  |  |  |  |  |  |  |
Basic weighted average common shares |  |  | 130,094 |  |  |  | 129,344 |
Average diluted options |  |  | 1,065 |  |  |  | 950 |
Net issuable common share equivalents (2) |  |  | 3,873 |  |  |  |  |
Total shares for diluted earnings per share |  |  | 135,032 |  |  |  | 130,294 |
Earnings Per Share of Common Stock Attributable to RPM International Inc. Stockholders: |  |  |  |  |  |  |  |
Basic |  | $ | 0.74 |  |  | $ | 0.78 |
Diluted (1) |  | $ | 0.73 |  |  | $ | 0.77 |
(1) | For the quarters ended August 31, 2014 and 2013, approximately 3,034,000 and 3,097,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive.
(2) | For the quarter ended August 31, 2014, represents the number of shares that would be issued if our contingently convertible notes were converted. We include these shares in the calculation of diluted EPS as the conversion of the notes may be settled, at our election, in cash, shares of our common stock, or a combination of cash and shares of our common stock.

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