Earnings (Loss) Per Share

12 Months Ended

May 31, 2023

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 fiscal years ended May 31:


	2023		2022		2021



Net income (loss) attributable to Class A and Common Shares	$	86.3	$	80.6	$	(11.0)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)		33.8		34.5		34.3
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions)*		0.9		1.1		—
Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions)		34.7		35.6		34.3

Earnings (loss) per share of Class A Stock and Common Stock
Basic earnings (loss) per share	$	2.56	$	2.33	$	(0.32)
Diluted earnings (loss) per share	$	2.49	$	2.27	$	(0.32)

Anti-dilutive shares pursuant to stock-based compensation plans		0.6		1.6		2.0

*The Company experienced a net loss for the fiscal year ended May 31, 2021 and therefore did not report any dilutive share impact.

The Company measures diluted earnings per share using the Treasury Stock method.

The following table sets forth Options outstanding pursuant to stock-based compensation plans for the fiscal years ended May 31:


	2023	2022
Options outstanding pursuant to stock-based compensation plans (in millions)	3.2	4.3

As of May 31, 2023, $21.6 remains available for future purchases of common shares under the current repurchase authorization of the Board of Directors.

See Note 14, “Treasury Stock,” and Note 22, "Subsequent Events," for a more complete description of the Company’s share buy-back program.