| Earnings Per Share |
NOTE 11 — EARNINGS PER SHARE The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share ("EPS") for the three- and six-month periods ended November 30, 2023 and 2022.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
November 30, |
|
November 30, |
|
|
November 30, |
|
November 30, |
|
(In thousands, except per share amounts) |
2023 |
|
2022 |
|
|
2023 |
|
2022 |
|
Numerator for earnings per share: |
|
|
|
|
|
|
|
|
|
Net income attributable to RPM International Inc. stockholders |
$ |
145,505 |
|
$ |
131,344 |
|
|
$ |
346,587 |
|
$ |
300,357 |
|
Less: Allocation of earnings and dividends to participating securities |
|
(707 |
) |
|
(676 |
) |
|
|
(1,597 |
) |
|
(1,466 |
) |
Net income available to common shareholders - basic |
|
144,798 |
|
|
130,668 |
|
|
|
344,990 |
|
|
298,891 |
|
Reverse: Allocation of earnings and dividends to participating securities |
|
- |
|
|
676 |
|
|
|
- |
|
|
1,466 |
|
Add: Undistributed earnings reallocated to unvested shareholders |
|
2 |
|
|
- |
|
|
|
4 |
|
|
- |
|
Net income available to common shareholders - diluted |
$ |
144,800 |
|
$ |
131,344 |
|
|
$ |
344,994 |
|
$ |
300,357 |
|
Denominator for basic and diluted earnings per share: |
|
|
|
|
|
|
|
|
|
Basic weighted average common shares |
|
127,758 |
|
|
127,585 |
|
|
|
127,816 |
|
|
127,600 |
|
Average diluted options and awards |
|
491 |
|
|
1,326 |
|
|
|
496 |
|
|
1,287 |
|
Total shares for diluted earnings per share (1) |
|
128,249 |
|
|
128,911 |
|
|
|
128,312 |
|
|
128,887 |
|
Earnings Per Share of Common Stock Attributable to |
|
|
|
|
|
|
|
|
|
RPM International Inc. Stockholders: |
|
|
|
|
|
|
|
|
|
Basic Earnings Per Share of Common Stock |
$ |
1.13 |
|
$ |
1.02 |
|
|
$ |
2.70 |
|
$ |
2.34 |
|
Method used to calculate basic earnings per share |
Two-class |
|
Two-class |
|
|
Two-class |
|
Two-class |
|
Diluted Earnings Per Share of Common Stock |
$ |
1.13 |
|
$ |
1.02 |
|
|
$ |
2.69 |
|
$ |
2.33 |
|
Method used to calculate diluted earnings per share |
Two-class |
|
Treasury |
|
|
Two-class |
|
Treasury |
|
(1) For the three and six months ended November 30, 2023, approximately 360,000 and 280,000 shares of stock granted under stock-based compensation plans were excluded from the calculation of diluted EPS, as the effect would have been anti-dilutive. For the three and six months ended November 30, 2022, approximately 700,000 and 720,000 shares of stock granted under stock-based compensation plans were excluded from the calculation of diluted EPS, as the effect would have been anti-dilutive. |