Income Per Share Attributable to Methode Shareholders

12 Months Ended

May. 02, 2015

Income 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 2, 2015		May 3, 2014		April 27, 2013
Numerator:
Net income attributable to Methode Electronics, Inc.	101.1		$	96.1	$	40.7

Denominator:
Denominator for basic earnings per share-weighted average shares outstanding and vested/unissued restricted stock awards	38,686,715		37,973,697		37,406,386
Dilutive potential common shares-employee, restricted stock awards and restricted stock units	580,151		242,562		480,240
Denominator for diluted earnings per share	39,266,866		38,216,259		37,886,626

Basic and diluted income per share:
Basic income per share	$	2.61	$	2.53	$	1.09
Diluted income per share	$	2.57	$	2.51	$	1.08

Options to purchase 158,500 shares of common stock were outstanding at May 2, 2015 but were not included in the computation of diluted earnings per share because the exercise price was greater than the average market price of common shares, therefore, the effect would have been anti-dilutive. Options to purchase 297,585 shares of common stock were outstanding at April 27, 2013 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 of 700,000 shares have been excluded in the computation of diluted net income per share for fiscal 2014 and fiscal 2013, as these awards were contingent on the Company's performance in fiscal 2015.