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Earnings Per Share
 9 Months Ended
Feb. 29, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share 
Cintas uses the two-class method to calculate basic and diluted earnings per share as a result of outstanding participating securities in the form of restricted stock awards. The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares:
Three Months EndedNine Months Ended
Basic Earnings per Share
(In thousands except per share data)
February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Net income$397,579 $325,827 $1,157,277 $1,001,809 
Less: net income allocated to participating securities1,543 1,351 4,486 4,155 
Net income available to common shareholders$396,036 $324,476 $1,152,791 $997,654 
Basic weighted average common shares outstanding
101,477 101,714 101,681 101,589 
Basic earnings per share$3.90 $3.19 $11.34 $9.82 
Three Months EndedNine Months Ended
Diluted Earnings per Share
(In thousands except per share data)
February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Net income$397,579 $325,827 $1,157,277 $1,001,809 
Less: net income allocated to participating securities1,543 1,351 4,486 4,155 
Net income available to common shareholders$396,036 $324,476 $1,152,791 $997,654 
Basic weighted average common shares outstanding
101,477 101,714 101,681 101,589 
Effect of dilutive securities – employee stock options
1,710 1,704 1,666 1,774 
Diluted weighted average common shares outstanding
103,187 103,418 103,347 103,363 
Diluted earnings per share$3.84 $3.14 $11.15 $9.65 

For both the three months ended February 29, 2024 and February 28, 2023, options granted to purchase 0.5 million shares of Cintas common stock were excluded from the computation of diluted earnings per share. For the nine months ended February 29, 2024 and February 28, 2023, options granted to purchase 0.4 million and 1.0 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. The exercise prices of these options were greater than the average market price of the common stock (anti-dilutive).

On July 27, 2021, Cintas announced that the Board of Directors authorized a $1.5 billion share buyback program, which does not have an expiration date. On July 26, 2022, Cintas announced that the Board of Directors authorized a new $1.0 billion share buyback program, which does not have an expiration date.
The following table summarizes the share buyback activity by program and period:
Three Months EndedNine Months Ended
February 29, 2024February 29, 2024
Buyback Activity
(In thousands except per share data)
SharesAvg. Price
per Share		Purchase
Price		SharesAvg. Price
per Share		Purchase
Price
July 27, 2021— $— $— 658 $486.58 $320,266 
July 26, 2022— — — — — — 
— $— $— 658 $486.58 $320,266 
Shares acquired for taxes due (1)
74 $604.51 $45,018 277 $533.65 $147,880 
Total repurchase of Cintas common stock$45,018 $468,146 
Three Months EndedNine Months Ended
February 28, 2023February 28, 2023
Buyback Activity
(In thousands except per share data)
SharesAvg. Price
per Share		Purchase
Price		SharesAvg. Price
per Share		Purchase
Price
July 27, 2021— $— $— 544 $395.97 $215,434 
July 26, 2022— — — — — — 
— $— $— 544 $395.97 $215,434 
Shares acquired for taxes due (1)
49 $448.79 $22,235 375 $414.23 $155,483 
Total repurchase of Cintas common stock$22,235 $370,917 
(1) Shares of Cintas common stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards.

In addition to the share buyback activity presented above, Cintas acquired shares of Cintas common stock, via non-cash transactions, in connection with net-share settlements of option exercises. The following table summarizes Cintas' non-cash share buyback activity:
Three Months EndedNine Months Ended
February 29, 2024February 29, 2024

(In thousands except per share data)
SharesAvg. Price
per Share		Non-Cash
Value		SharesAvg. Price
per Share		Non-Cash
Value
Non-cash transaction activity58 $598.80 $34,723 244 $528.68 $129,023 
Three Months EndedNine Months Ended
February 28, 2023February 28, 2023
SharesAvg. Price
per Share		Non-Cash
Value		SharesAvg. Price
per Share		Non-Cash
Value
Non-cash transaction activity54 $445.60 $23,852 313 $419.78 $131,418