Earnings Per Share

3 Months Ended

Nov. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Our outstanding shares consist of Apollo Group Class A and Class B common stock. Our Articles of Incorporation treat the declaration of dividends on the Apollo Group Class A and Class B common stock in an identical manner. As such, both the Apollo Group Class A and Class B common stock are included in the calculation of our earnings per share.

Diluted weighted average shares outstanding includes the incremental effect of shares that would be issued upon the assumed exercise of stock options and the vesting and release of restricted stock units and performance share awards. The components of basic and diluted earnings per share are as follows:

	Three months ended November 30,
($ in thousands)	2012		2011
Net income attributable to Apollo (basic and diluted)	$	133,495	$	149,314
Basic weighted average shares outstanding	112,420		130,318
Dilutive effect of stock options	—		32
Dilutive effect of restricted stock units and performance share awards	429		524
Diluted weighted average shares outstanding	112,849		130,874
Earnings per share:
Basic income per share attributable to Apollo	$	1.19	$	1.15
Diluted income per share attributable to Apollo	$	1.18	$	1.14

During the three months ended November 30, 2012 and 2011, approximately 8.4 million and 9.0 million, respectively, of our stock options outstanding and approximately 2.0 million and 0.1 million, respectively, of our restricted stock units and performance share awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. These options, restricted stock units and performance share awards could be dilutive in the future.