Quarterly report pursuant to Section 13 or 15(d)

Capital Stock and Share Repurchase

v3.10.0.1
Capital Stock and Share Repurchase
3 Months Ended
Nov. 30, 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 November 30, 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 months ended November 30, 2018.
The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts):
 
Three Months Ended November 30,
 
2018
 
2017
Numerator:
 
 
 
Net (loss) earnings
$
(17,452
)
 
$
5,226

Denominator:
 
 
 
Weighted average common shares outstanding - basic
61,031

 
59,871

Net effect of dilutive securities - stock based compensation plans

 
738

Weighted average common shares outstanding - diluted
61,031

 
60,609

 
 
 
 
Basic (loss) earnings per share
$
(0.29
)
 
$
0.09

Diluted (loss) earnings per share
$
(0.29
)
 
$
0.09

 
 
 
 
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) (1)
2,973

 
1,829

(1) As a result of the impairment & divestiture charges, which caused a net loss for the three months ended November 30, 2018, shares from stock based compensation plans are excluded from the calculation of diluted loss per share, as the result would be anti-dilutive.