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Earnings (Loss) Per Share
 9 Months Ended
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.