Note 13 - Common Stock and Earnings Per Share

12 Months Ended

Aug. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

13.

COMMON STOCK AND EARNINGS PER SHARE

On

May 7, 2018,

FactSet’s Board of Directors approved a

14.3%

increase in the regular quarterly dividend from

$0.56

to

$0.64

per share.

Shares of common stock outstanding were as follows:

	Years ended August 31,
(in thousands)	2018			2017			2016
Balance, beginning of year (September 1)		39,023			40,038			41,317
Common stock issued for employee stock plans		711			693			823
Repurchase of common stock from employees (1)		(8	)		(50	)		(28	)
Repurchase of common stock under the share repurchase program		(1,534	)		(1,555	)		(1,478	)
Repurchase of common stock under accelerated share repurchase agreement		—			(103	)		(596	)
Balance, end of year (August 31)		38,192			39,023			40,038

( 1 )   For fiscal 201 8 , 201 7 and 201 6 , the Company repurchased 8 , 070 , 49 , 771 and 2 7 , 625 shares, or $ 1 . 5 million, $ 7 . 8 million and $ 4 . 5 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock.

A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share (“EPS”) computations is as follows:

(in thousands, except per share data)	Net Income (Numerator)		Weighted Average Common Shares (Denominator)		Per Share Amount
For the year ended August 31, 2018
Basic EPS
Income available to common stockholders	$	267,085		38,733	$	6.90
Diluted EPS
Dilutive effect of stock options and restricted stock				644
Income available to common stockholders plus assumed conversions	$	267,085		39,377	$	6.78
For the year ended August 31, 2017
Basic EPS
Income available to common stockholders	$	258,259		39,444	$	6.55
Diluted EPS
Dilutive effect of stock options and restricted stock				198
Income available to common stockholders plus assumed conversions	$	258,259		39,642	$	6.51
For the year ended August 31, 2016
Basic EPS
Income available to common stockholders	$	338,815		40,880	$	8.29
Diluted EPS
Dilutive effect of stock options and restricted stock				485
Income available to common stockholders plus assumed conversions	$	338,815		41,365	$	8.19

Dilutive potential common shares consist of stock options and unvested restricted stock awards. There were

no

stock options excluded from the Fiscal

2018

calculation of diluted EPS. There were

704,786

and

507,658

stock options excluded from fiscal

2017

and

2016

calculations of diluted EPS, respectively, because their inclusion would have been anti-dilutive.

As of

August 31, 2018,

2017

and

2016,

the number of performance-based stock options excluded from the calculation of diluted EPS was

249,443,

415,061

and

782,843,

respectively. Performance-based stock options are omitted from the calculation of diluted EPS until the performance criteria is considered probable of being achieved.