Quarterly report pursuant to Section 13 or 15(d)

Capital Stock and Share Repurchase

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Capital Stock and Share Repurchase
 9 Months Ended
May. 31, 2015
Earnings Per Share [Abstract]  
Capital Stock and Share Repurchase
The Company's Board of Directors has authorized the repurchase of shares of the Company's common stock under publicly announced share repurchase programs. At May 31, 2015, the Company could repurchase an additional 8,594,683 shares under existing share repurchase authorizations. The following table summarizes the total capital deployed for share repurchases:
Period
 
Shares Repurchased
 
Average Price Paid per Share
Fiscal 2012
 
2,658,751

 
$
23.70

Fiscal 2013
 
1,324,762

 
31.55

Fiscal 2014
 
8,211,846

 
34.52

Fiscal 2015 (September 1 - May 31)
 
7,209,958

 
28.35

 
 
19,405,317

 
$
30.54



The reconciliation between basic and diluted earnings (loss) per share from continuing operations is as follows (in thousands, except per share amounts):
 
Three Months Ended May 31,
 
Nine Months Ended May 31,
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
$
37,958

 
$
50,557

 
$
(2,206
)
 
$
105,866

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
59,617

 
70,432

 
61,911

 
71,915

Net effect of dilutive securities—stock based compensation plans (1)
626

 
1,338

 
—

 
1,603

Weighted average common shares outstanding - diluted
60,243

 
71,770

 
61,911

 
73,518

 
 
 
 
 
 
 
 
Earnings (loss) per common share from continuing operations:
 
 
 
 
 
 
 
        Basic
$
0.64

 
$
0.72

 
$
(0.04
)
 
$
1.47

        Diluted
$
0.63

 
$
0.70

 
$
(0.04
)
 
$
1.44

 
 
 
 
 
 
 
 
Anti-dilutive securities stock based compensation plans (excluded from earnings per share calculation)
2,256

 
463

 
4,662

 
558

(1) As a result of the impairment charge in the second quarter of fiscal 2015 which caused a loss from continuing operations for the nine months ended May 31, 2015, shares from stock based compensation plans are excluded from the calculation of diluted earnings (loss) per share, as the result would be anti-dilutive.