Earnings Per Share

6 Months Ended

Feb. 29, 2016

Our outstanding shares consist of Apollo Class A and Class B common stock. Our Articles of Incorporation treat the declaration of dividends on the Class A and Class B common stock in an identical manner. As such, both the 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						Six Months Ended
(In thousands, except per share data)	February 29, 2016			February 28, 2015			February 29, 2016			February 28, 2015
Numerator:
Net (loss) income attributable to Apollo (basic and diluted)	$	(60,396	)	$	(33,610	)	$	(121,161	)	$	175
Denominator:
Basic weighted average shares outstanding	108,595			108,166			108,521			108,375
Dilutive effect of restricted stock units and performance share awards⁽¹⁾	—			—			—			759
Dilutive effect of stock options⁽¹⁾	—			—			—			203
Diluted weighted average shares outstanding	108,595			108,166			108,521			109,337
Basic loss per share attributable to Apollo	$	(0.56	)	$	(0.31	)	$	(1.12	)	$	—
Diluted loss per share attributable to Apollo	$	(0.56	)	$	(0.31	)	$	(1.12	)	$	—

Anti-dilutive securities excluded from diluted loss per share:
Anti-dilutive restricted stock units and performance share awards⁽¹⁾	3,994			929			4,220			11
Anti-dilutive stock options⁽¹⁾	3,557			2,572			3,636			2,411

⁽¹⁾ Due to the loss from continuing operations attributable to Apollo during the three and six months ended February 29, 2016 and the three months ended February 28, 2015, no dilutive share-based awards were included in the calculations of diluted loss per share because they would have been anti-dilutive.