Earnings Per Share

9 Months Ended

Feb. 28, 2021

EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share includes the dilutive effect of potential common stock consisting of stock options, restricted stock units and performance stock units, provided that the inclusion of such securities is not anti-dilutive. In periods with a net loss, stock options and restricted stock units are not included in the computation of diluted loss per share as the impact would be anti-dilutive.

The following table reconciles basic to diluted weighted-average shares outstanding:


	Three Months Ended		Nine Months Ended
(in thousands)	Feb 28, 2021	Feb 29, 2020	Feb 28, 2021	Feb 29, 2020
Basic	38,360	37,999	38,281	37,924
Effect of dilutive securities	—	—	—	—
Diluted	38,360	37,999	38,281	37,924

Securities excluded as their inclusion would be anti-dilutive	3,003	2,699	3,033	2,656