Quarterly report pursuant to Section 13 or 15(d)

Capital Stock and Share Repurchase

v3.8.0.1
Capital Stock and Share Repurchase
 6 Months Ended
Feb. 28, 2018
Earnings Per Share [Abstract]  
Capital Stock and Share Repurchase
Note 11. Capital Stock and Share Repurchases
The Company's Board of Directors authorized the repurchase of shares of the Company's common stock under publicly announced share repurchase programs. Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 20,439,434 shares of common stock for $617.7 million. As of February 28, 2018, the maximum number of shares that may yet be purchased under the programs is 7,560,566 shares. There were no share repurchases in the three and six months ended February 28, 2018.
The reconciliation between basic and diluted (loss) earnings per share is as follows (in thousands, except per share amounts):
 
Three Months Ended February 28,
 
Six Months Ended February 28,
 
2018
 
2017
 
2018
 
2017
Numerator:
 
 
 
 
 
 
 
Net (loss) earnings
$
(18,221
)
 
$
5,074

 
$
(12,995
)
 
$
10,039

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
60,318

 
59,368

 
60,095

 
59,170

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

 
778

 
—

 
711

Weighted average common shares outstanding - diluted
60,318

 
60,146

 
$
60,095

 
$
59,881

 
 
 
 
 
 
 
 
Basic (loss) earnings per share
$
(0.30
)
 
$
0.09

 
$
(0.22
)
 
$
0.17

Diluted (loss) earnings per share
(0.30
)
 
0.08

 
(0.22
)
 
0.17

 
 
 
 
 
 
 
 
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation)
3,397

 
2,011

 
2,613

 
1,987

(1) As a result of the net loss for the three and six months ended February 28, 2018, shares from stock based compensation plans are excluded from the calculation of diluted (loss) earnings per share, as the result would be anti-dilutive.