Quarterly report pursuant to Section 13 or 15(d)

Capital Stock and Share Repurchase

v3.3.1.900
Capital Stock and Share Repurchase
 6 Months Ended
Feb. 29, 2016
Earnings Per Share [Abstract]  
Capital Stock and Share Repurchase
The Company's Board of Directors approved four separate authorizations (September 2011, March 2014, October 2014 and March 2015) to repurchase up to 7,000,000 shares each of the Company's outstanding common stock. At February 29, 2016, shares repurchased under these authorizations totaled 20,126,479, leaving 7,873,521 shares available for repurchase under the existing share repurchase programs.
The reconciliation between basic and diluted earnings (loss) per share is as follows (in thousands, except per share amounts):
 
Three Months Ended
 
Six Months Ended
 
February 29, 2016
 
February 28, 2015
 
February 29,
2016
 
February 28,
2015
Numerator:
 
 
 
 
 
 
 
Net loss
$
(159,190
)
 
$
(64,838
)
 
$
(143,742
)
 
$
(40,164
)
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic and diluted (1)
58,991

 
61,759

 
59,089

 
63,045

 
 
 
 
 
 
 
 
Basic and Diluted loss per share
$
(2.70
)
 
$
(1.05
)
 
$
(2.43
)
 
$
(0.64
)
 
 
 
 
 
 
 
 
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation)
5,146

 
4,761

 
5,146

 
4,761

(1) As a result of the impairment charges which caused a net loss in both the current and prior year, shares from stock based compensation plans are excluded from the calculation of diluted earnings (loss) per share, as the result would be anti-dilutive.