Basic earnings per share is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Under the treasury stock method, the diluted earnings per share calculation includes potential common shares assumed to be issued, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested.

The following table sets forth the computation of basic and diluted earnings per share under the treasury stock method.


	Three Months Ended July 31,
		2026		2025
Net income (loss)		$	324.3	$	(43.9)
Weighted-average common shares outstanding – assuming dilution:
Weighted-average common shares outstanding		106.8		106.6
Add: Dilutive effect of stock options		—		—
Add: Dilutive effect of restricted shares, restricted stock units, and performance units		0.3		—
Weighted-average common shares outstanding – assuming dilution		107.1		106.6
Net income (loss) per common share		$	3.04	$	(0.41)
Net income (loss) per common share – assuming dilution		$	3.03	$	(0.41)

During the first three months of 2026, we recognized a net loss, and as a result, excluded the anti-dilutive effect of stock-based awards from the computation of diluted earnings per share.