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Earnings (Loss) Per Share | 9 Months Ended
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Feb. 28, 2014
Earnings Per Share [Abstract] |
Earnings Per Share | 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 and nine-month periods ended February 28, 2014 and 2013, respectively:
| Three months ended February 28, |  | Nine months ended February 28,
| 2014 |  | 2013 |  | 2014 |  | 2013
Earnings (loss) from continuing operations attributable to Class A and Common Shares | $ | (12.1 | ) |  | $ | (19.9 | ) |  | $ | 16.1 |  |  | $ | 10.9 |
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax | 0.0 |  |  | (0.2 | ) |  | 0.2 |  |  | (1.4 | )
Net income (loss) attributable to Class A and Common Shares | $ | (12.1 | ) |  | $ | (20.1 | ) |  | $ | 16.3 |  |  | $ | 9.5 |
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) | 32.0 |  |  | 32.0 |  |  | 31.9 |  |  | 31.8 |
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) | — |  |  | — |  |  | 0.5 |  |  | 0.6 |
Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) | 32.0 |  |  | 32.0 |  |  | 32.4 |  |  | 32.4 |
Earnings (loss) per share of Class A Stock and Common Stock: |  |  |  |  |  |  |  |  |  |  |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations | $ | (0.38 | ) |  | $ | (0.62 | ) |  | $ | 0.50 |  |  | $ | 0.34 |
Earnings (loss) from discontinued operations, net of tax | $ | 0.00 |  |  | $ | (0.01 | ) |  | $ | 0.01 |  |  | $ | (0.04 | )
Net income (loss) | $ | (0.38 | ) |  | $ | (0.63 | ) |  | $ | 0.51 |  |  | $ | 0.30 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations | $ | (0.38 | ) |  | $ | (0.62 | ) |  | $ | 0.50 |  |  | $ | 0.34 |
Earnings (loss) from discontinued operations, net of tax | $ | 0.00 |  |  | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | (0.05 | )
Net income (loss) | $ | (0.38 | ) |  | $ | (0.63 | ) |  | $ | 0.50 |  |  | $ | 0.29 |
Earnings from continuing operations exclude earnings of less than $0.1 for the nine months ended February 28, 2014, and earnings of $0.1 for the nine months ended February 28, 2013, attributable to participating Restricted Stock Units (“RSUs”). The following table sets forth Options outstanding pursuant to stock-based compensation plans as of the dates indicated:
| February 28, 2014 |  | February 28, 2013
Options outstanding pursuant to stock-based compensation plans (in millions) | 4.4 |  | 4.2
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 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 February 28, 2014, $13.4 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.

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