Earnings Per Share (Tables)

9 Months Ended

Feb. 29, 2016

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share from continuing operations using the two-class method for amounts attributable to Cintas’ common shares:



	Three Months Ended				Nine Months Ended
(In thousands except per share data)	February 29, 2016		February 28, 2015		February 29, 2016		February 28, 2015

Basic Earnings per Share from Continuing Operations
Income from continuing operations	$	117,279	$	100,331	$	338,930	$	309,937
Less: income from continuing operations allocated to participating securities	1,871		733		5,500		2,666
Income from continuing operations available to common shareholders	$	115,408	$	99,598	$	333,430	$	307,271
Basic weighted average common shares outstanding	107,843		116,178		108,923		116,653

Basic earnings per share from continuing operations	$	1.07	$	0.86	$	3.06	$	2.64



	Three Months Ended				Nine Months Ended
(In thousands except per share data)	February 29, 2016		February 28, 2015		February 29, 2016		February 28, 2015

Diluted Earnings per Share from Continuing Operations
Income from continuing operations	$	117,279	$	100,331	$	338,930	$	309,937
Less: income from continuing operations allocated to participating securities	1,871		733		5,500		2,666
Income from continuing operations available to common shareholders	$	115,408	$	99,598	$	333,430	$	307,271
Basic weighted average common shares outstanding	107,843		116,178		108,923		116,653
Effect of dilutive securities – employee stock options	1,620		1,689		1,689		1,561
Diluted weighted average common shares outstanding	109,463		117,867		110,612		118,214

Diluted earnings per share from continuing operations	$	1.05	$	0.85	$	3.01	$	2.60

Summary of Share Buyback Program

The following table summarizes the buyback activity by program and fiscal period:



(In thousands except per share data)	Three Months Ended February 29, 2016					Nine Months Ended February 29, 2016
Buyback Program	Shares	Avg. Price per Share		Purchase Price		Shares	Avg. Price per Share		Purchase Price

January 13, 2015	—	$	—	$	—	3,078	$	85.44	$	262,937
August 4, 2015	1,188	$	84.15	$	99,997	2,584	$	85.11	$	219,978
	1,188	$	84.15	$	99,997	5,662	$	85.29	$	482,915