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Income Per Share Attributable to Methode Shareholders
 12 Months Ended
May 03, 2014
Earnings Per Share [Abstract]  
Income Per Share Attributable to Methode Shareholders
Per Share Attributable to Methode Shareholders
 
Basic income per share attributable to Methode shareholders ("basic earnings per share") is calculated by dividing net earnings by the weighted average number of common shares outstanding for the applicable period.  Diluted income per share attributable to Methode shareholders ("diluted income per share") is calculated after adjusting the denominator of the basic income per share calculation for the effect of all potential dilutive common shares outstanding during the period.
 
The following table sets forth the computation of basic and diluted income per share: 
 
Fiscal Year Ended
 
May 3,
2014
 
April 27,
2013
 
April 28,
2012
Numerator:
 
 
 
 
 
Net income attributable to Methode Electronics, Inc.
$
96.1

 
$
40.7

 
$
8.4

 
 
 
 
 
 
Denominator:
 

 
 
 
 

Denominator for basic earnings per share-weighted average shares outstanding and vested/unissued restricted stock awards
37,973,697

 
37,406,386

 
37,366,505

Dilutive potential common shares-employee and director stock options, restricted stock awards and restricted stock units
242,562

 
480,240

 
225,475

Denominator for diluted earnings per share
38,216,259

 
37,886,626

 
37,591,980

 
 
 
 
 
 
Basic and diluted income per share:
 

 
 
 
 

Basic income per share
$
2.53

 
$
1.09

 
$
0.22

Diluted income per share
$
2.51

 
$
1.08

 
$
0.22


 
Options to purchase 297,585 and 834,412 shares of common stock were outstanding at April 27, 2013 and April 28, 2012, respectively, but were not included in the computation of diluted earnings per share because the exercise price was greater than the average market price of the common shares; therefore, the effect would have been anti-dilutive.  In addition, restricted stock awards for 700,000 shares have been excluded in the computation of diluted net income per share for all periods presented, as these awards are contingent on the Company's performance in fiscal 2015.