STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC

6 Months Ended

Feb. 28, 2018

Stockholder's equity and earnings per share attributable to CMC

NOTE 12. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE

The calculations of basic and diluted earnings per share from continuing operations for the three and six months ended February 28, 2018 and February 28, 2017 were as follows:



	Three Months Ended February 28,				Six Months Ended February 28,
(in thousands, except share data)	2018		2017		2018		2017
Earnings from continuing operations attributable to CMC	$	9,781	$	22,992	$	41,652	$	28,678

Basic earnings per share:
Shares outstanding for basic earnings per share	116,808,838		115,736,369		116,524,630		115,415,662

Basic earnings per share attributable to CMC	$	0.08	$	0.20	$	0.36	$	0.25

Diluted earnings per share:
Shares outstanding for basic earnings per share	116,808,838		115,736,369		116,524,630		115,415,662
Effect of dilutive securities:
Stock-based incentive/purchase plans	1,460,883		1,383,839		1,625,185		1,592,296
Shares outstanding for diluted earnings per share	118,269,721		117,120,208		118,149,815		117,007,958

Diluted earnings per share attributable to CMC	$	0.08	$	0.20	$	0.35	$	0.25

CMC had no shares that were anti-dilutive for all periods presented.

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.

During the first quarter of fiscal 2015, CMC's Board of Directors authorized a share repurchase program under which CMC may repurchase up to $100.0 million of shares of CMC common stock. During the six months ended February 28, 2018 and 2017, CMC did not repurchase any shares of CMC common stock. CMC had remaining authorization to repurchase $27.6 million shares of common stock at February 28, 2018.