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Earnings (Loss) Per Share | 6 Months Ended
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Nov. 30, 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 six month periods ended November 30, 2014 and 2013, respectively:
| Three months ended November 30, |  | Six months ended November 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Earnings (loss) from continuing operations attributable to Class A and Common Stock | $ | 68.5 |  |  | $ | 58.2 |  |  | $ | 34.5 |  |  | $ | 28.1 |
Earnings (loss) from discontinued operations attributable to Class A and Common Stock, net of tax | (0.1 | ) |  | 0.0 |  |  | (0.2 | ) |  | 0.2 |
Net income (loss) attributable to Class A and Common Stock | $ | 68.4 |  |  | $ | 58.2 |  |  | $ | 34.3 |  |  | $ | 28.3 |
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) | 32.7 |  |  | 31.9 |  |  | 32.5 |  |  | 31.8 |
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) | 0.6 |  |  | 0.4 |  |  | 0.7 |  |  | 0.6 |
Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) | 33.3 |  |  | 32.3 |  |  | 33.2 |  |  | 32.4 |
Earnings (loss) per share of Class A Stock and Common Stock: |  |  |  |  |  |  |  |  |  |  |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations | $ | 2.10 |  |  | $ | 1.82 |  |  | $ | 1.06 |  |  | $ | 0.88 |
Earnings (loss) from discontinued operations, net of tax | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | (0.00 | ) |  | $ | 0.01 |
Net income (loss) | $ | 2.09 |  |  | $ | 1.82 |  |  | $ | 1.06 |  |  | $ | 0.89 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations | $ | 2.06 |  |  | $ | 1.80 |  |  | $ | 1.04 |  |  | $ | 0.87 |
Earnings (loss) from discontinued operations, net of tax | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | (0.00 | ) |  | $ | 0.01 |
Net income (loss) | $ | 2.05 |  |  | $ | 1.80 |  |  | $ | 1.04 |  |  | $ | 0.88 |
The following table sets forth Options outstanding pursuant to stock-based compensation plans as of the dates indicated:
| November 30, 2014 |  | November 30, 2013
Options outstanding pursuant to stock-based compensation plans (in millions) | 4.5 |  | 4.7
Earnings from continuing operations exclude earnings of $0.1 and $0.1 for the three and six months ended November 30, 2014, respectively, and $0.1 and $0.1 for the three and six months ended November 30, 2013, respectively, attributable to participating Restricted Stock Units (“RSUs”). 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. Potentially dilutive shares outstanding pursuant to compensation plans that were not included in the diluted earnings per share calculation because they were anti-dilutive were 1.7 million as of November 30, 2014. 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 November 30, 2014, $9.9 remained available for future purchases of common shares under the current repurchase authorization of the Board of Directors. See Note 10, “Treasury Stock,” for a more complete description of the Company’s share buy-back program.

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