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STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC
 9 Months Ended
May. 31, 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 nine months ended May 31, 2015 and 2014 were as follows: 
 
 
Three Months Ended May 31,
 
Nine Months Ended May 31,
(in thousands, except share data)
 
2015
 
2014
 
2015
 
2014
Earnings from continuing operations attributable to CMC
 
$
67,128

 
$
24,468

 
$
167,181

 
$
71,422

 
 
 
 
 
 
 
 
 
Basic earnings per share:
 
 
 
 
 
 
 
 
       Shares outstanding for basic earnings per share
 
115,742,534

 
117,705,133

 
116,807,469

 
117,400,198

 
 
 
 
 
 
 
 
 
Basic earnings per share attributable to CMC:
 
$
0.58

 
$
0.21

 
$
1.43

 
$
0.61

 
 
 
 
 
 
 
 
 
Diluted earnings per share:
 
 
 
 
 
 
 
 
       Shares outstanding for basic earnings per share
 
115,742,534

 
117,705,133

 
116,807,469

 
117,400,198

 
 
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
Stock-based incentive/purchase plans
 
1,016,681

 
1,064,542

 
1,063,759

 
1,121,618

Shares outstanding for diluted earnings per share
 
116,759,215

 
118,769,675

 
117,871,228

 
118,521,816

 
 
 
 
 
 
 
 
 
Diluted earnings per share attributable to CMC:
 
$
0.58

 
$
0.21

 
$
1.42

 
$
0.60

 
 
 
 
 
 
 
 
 
Anti-dilutive shares not included above
 
378,006

 
1,248,330

 
245,542

 
1,248,330


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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 nine months ended May 31, 2015, the Company purchased 139,383 and 2,902,218 shares of CMC common stock, respectively, at an average purchase price of $15.97 and $14.40 per share, respectively. The Company had remaining authorization to purchase $58.2 million of common stock at May 31, 2015 pursuant to its share repurchase program.