STOCKHOLDERS EQUITY AND EARNINGS PER SHARE

6 Months Ended

Feb. 28, 2021

Earnings Per Share [Abstract]

Stockholder's equity and earnings per share

The calculations of basic and diluted earnings per share from continuing operations were as follows: 

	Three Months Ended				Six Months Ended
(in thousands, except share data)	February 28, 2021		February 29, 2020		February 28, 2021		February 29, 2020
Earnings from continuing operations	$	66,233	$	63,596	$	130,144	$	146,351
Basic earnings per share:
Shares outstanding for basic earnings per share	120,345,432		118,919,455		120,052,459		118,644,823
Basic earnings per share from continuing operations	$	0.55	$	0.53	$	1.08	$	1.23
Diluted earnings per share:
Shares outstanding for basic earnings per share	120,345,432		118,919,455		120,052,459		118,644,823
Effect of dilutive securities:
Stock-based incentive/purchase plans	1,406,427		1,487,801		1,619,735		1,658,436
Shares outstanding for diluted earnings per share	121,751,859		120,407,256		121,672,194		120,303,259
Diluted earnings per share from continuing operations	$	0.54	$	0.53	$	1.07	$	1.22

Anti-dilutive shares not included above were immaterial for all periods presented.

Restricted stock is included in the number of shares of common stock issued and outstanding, but omitted from the basic earnings per share calculation until the shares vest.

During the first quarter of 2015, CMC's Board of Directors authorized a share repurchase program under which CMC may repurchase up to $100.0 million of shares of common stock. During the three and six months ended February 28, 2021, CMC did not repurchase any shares of common stock. CMC had remaining authorization to repurchase $27.6 million of common stock at February 28, 2021.