| Earnings Per Share |
NOTE 14 — 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 nine-month periods ended February 29, 2024 and February 28, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
February 29, |
|
February 28, |
|
|
February 29, |
|
February 28, |
|
(In thousands, except per share amounts) |
2024 |
|
2023 |
|
|
2024 |
|
2023 |
|
Numerator for earnings per share: |
|
|
|
|
|
|
|
|
|
Net income attributable to RPM International Inc. stockholders |
$ |
61,199 |
|
$ |
26,974 |
|
|
$ |
407,786 |
|
$ |
327,331 |
|
Less: Allocation of earnings and dividends to participating securities |
|
(279 |
) |
|
(274 |
) |
|
|
(1,840 |
) |
|
(1,593 |
) |
Net income available to common shareholders - basic |
|
60,920 |
|
|
26,700 |
|
|
|
405,946 |
|
|
325,738 |
|
Reverse: Allocation of earnings and dividends to participating securities |
|
- |
|
|
- |
|
|
|
- |
|
|
1,593 |
|
Add: Undistributed earnings reallocated to unvested shareholders |
|
- |
|
|
- |
|
|
|
5 |
|
|
- |
|
Net income available to common shareholders - diluted |
$ |
60,920 |
|
$ |
26,700 |
|
|
$ |
405,951 |
|
$ |
327,331 |
|
Denominator for basic and diluted earnings per share: |
|
|
|
|
|
|
|
|
|
Basic weighted average common shares |
|
127,781 |
|
|
127,495 |
|
|
|
127,803 |
|
|
127,564 |
|
Average diluted options and awards |
|
553 |
|
|
540 |
|
|
|
512 |
|
|
1,225 |
|
Total shares for diluted earnings per share (1) |
|
128,334 |
|
|
128,035 |
|
|
|
128,315 |
|
|
128,789 |
|
Earnings Per Share of Common Stock Attributable to |
|
|
|
|
|
|
|
|
|
RPM International Inc. Stockholders: |
|
|
|
|
|
|
|
|
|
Basic Earnings Per Share of Common Stock |
$ |
0.48 |
|
$ |
0.21 |
|
|
$ |
3.18 |
|
$ |
2.55 |
|
Method used to calculate basic earnings per share |
Two-class |
|
Two-class |
|
|
Two-class |
|
Two-class |
|
Diluted Earnings Per Share of Common Stock |
$ |
0.47 |
|
$ |
0.21 |
|
|
$ |
3.16 |
|
$ |
2.54 |
|
Method used to calculate diluted earnings per share |
Two-class |
|
Two-class |
|
|
Two-class |
|
Treasury |
|
(1) For the three and nine months ended February 29, 2024, approximately 300,000 and 250,000 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 nine months ended February 28, 2023, approximately 680,000 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. |