Earnings Per Share

6 Months Ended

Nov. 30, 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		Six Months Ended
(in thousands)	Nov 30, 2021	Nov 30, 2020	Nov 30, 2021	Nov 30, 2020
Basic	39,053	38,327	38,893	38,242
Effect of dilutive securities	—	—	—	—
Diluted	39,053	38,327	38,893	38,242

Securities excluded as their inclusion would be anti-dilutive	3,510	3,133	3,510	3,159