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STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC
6 Months Ended
Feb. 28, 2015
Earnings Per Share [Abstract]  
Stockholder's equity and earnings per share attributable to CMC
NOTE 12. STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC

The calculations of basic and diluted earnings per share from continuing operations for the three and six months ended February 28, 2015 and 2014 were as follows: 
 
 
Three Months Ended February 28,
 
Six Months Ended February 28,
(in thousands, except share data)
 
2015
 
2014
 
2015
 
2014
Earnings from continuing operations attributable to CMC
 
$
61,719

 
$
13,254

 
$
100,053

 
$
46,954

 
 
 
 
 
 
 
 
 
Basic earnings per share:
 
 
 
 
 
 
 
 
       Shares outstanding for basic earnings per share
 
116,688,162

 
117,424,962

 
117,244,406

 
117,247,731

 
 
 
 
 
 
 
 
 
Basic earnings per share attributable to CMC:
 
$
0.53

 
$
0.11

 
$
0.85

 
$
0.40

 
 
 
 
 
 
 
 
 
Diluted earnings per share:
 
 
 
 
 
 
 
 
       Shares outstanding for basic earnings per share
 
116,688,162

 
117,424,962

 
117,244,406

 
117,247,731

 
 
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
Stock-based incentive/purchase plans
 
995,314

 
1,214,199

 
1,151,438

 
1,150,155

Shares outstanding for diluted earnings per share
 
117,683,476

 
118,639,161

 
118,395,844

 
118,397,886

 
 
 
 
 
 
 
 
 
Diluted earnings per share attributable to CMC:
 
$
0.52

 
$
0.11

 
$
0.85

 
$
0.40

 
 
 
 
 
 
 
 
 
Anti-dilutive shares not included above
 
854,703

 
1,175,090

 
623,042

 
1,175,090


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CMC's restricted stock is included in the number of shares of common stock issued and outstanding, but is omitted from the basic earnings per share calculation until the shares vest.
On October 27, 2014, CMC's Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $100.0 million of shares of CMC common stock. This new program replaced the existing program, which was terminated by CMC's Board of Directors in connection with the approval of the new program. During the three and six months ended February 28, 2015, the Company purchased 2,202,342 and 2,762,835 shares of CMC common stock, respectively, at an average purchase price of $13.73 and $14.33 per share, respectively. The Company had remaining authorization to purchase $60.4 million of common stock at February 28, 2015 pursuant to its share repurchase program.