Earnings Per Share

3 Months Ended

Nov. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Our outstanding shares consist of Apollo Education Group Class A and Class B common stock. Our Articles of Incorporation treat the declaration of dividends on the Apollo Education Group Class A and Class B common stock in an identical manner. As such, both the Apollo Education 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, except per share data)	2013		2012
Net income attributable to Apollo (basic and diluted)	$	98,891	$	133,495
Basic weighted average shares outstanding	113,326		112,420
Dilutive effect of stock options	44		—
Dilutive effect of restricted stock units and performance share awards	590		429
Diluted weighted average shares outstanding	113,960		112,849
Basic income per share attributable to Apollo	$	0.87	$	1.19
Diluted income per share attributable to Apollo	$	0.87	$	1.18

During the three months ended November 30, 2013 and 2012, 3.2 million and 8.4 million, respectively, of our stock options outstanding and 1.0 million and 2.0 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 share-based awards could be dilutive in the future.