Schedule of Earnings Per Share, Basic and Diluted |
The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts):
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Three Months Ended May 31, |
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Nine Months Ended May 31, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
Numerator: |
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|
|
|
|
Net earnings |
$ |
32,418 |
|
|
$ |
29,012 |
|
|
$ |
17,719 |
|
|
$ |
16,017 |
|
Denominator: |
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|
|
|
|
|
Weighted average common shares outstanding - basic |
61,422 |
|
|
60,683 |
|
|
61,232 |
|
|
60,291 |
|
Net effect of dilutive securities - stock based compensation plans |
418 |
|
|
381 |
|
|
469 |
|
|
559 |
|
Weighted average common shares outstanding - diluted |
61,840 |
|
|
61,064 |
|
|
61,701 |
|
|
60,850 |
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|
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Basic earnings per share |
$ |
0.53 |
|
|
$ |
0.48 |
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|
$ |
0.29 |
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|
$ |
0.27 |
|
Diluted earnings per share |
$ |
0.52 |
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|
$ |
0.48 |
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|
$ |
0.29 |
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|
$ |
0.26 |
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|
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Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) |
987 |
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|
1,788 |
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|
1,164 |
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|
2,338 |
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The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2019 (in thousands):
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Common Stock |
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Additional Paid-in Capital |
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Treasury Stock |
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Retained Earnings |
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Accumulated Other Comprehensive Loss |
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Stock Held in Trust |
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Deferred Compensation Liability |
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Total Shareholders’ Equity |
|
Issued Shares |
|
Amount |
|
Balance at February 28, 2019 |
81,832 |
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|
$ |
16,364 |
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|
$ |
174,418 |
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|
$ |
(617,731 |
) |
|
$ |
1,152,331 |
|
|
$ |
(139,752 |
) |
|
$ |
(2,989 |
) |
|
$ |
2,989 |
|
|
$ |
585,630 |
|
Net earnings |
— |
|
|
— |
|
|
— |
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|
— |
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|
32,418 |
|
|
— |
|
|
— |
|
|
— |
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|
32,418 |
|
Other comprehensive loss, net of tax |
— |
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|
— |
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|
— |
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|
— |
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|
— |
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(13,800 |
) |
|
— |
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|
— |
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(13,800 |
) |
Stock contribution to employee benefit plans and other |
5 |
|
|
1 |
|
|
114 |
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|
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
115 |
|
Restricted stock awards |
28 |
|
|
6 |
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(6 |
) |
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— |
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— |
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|
— |
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|
— |
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|
— |
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|
— |
|
Cash dividend ($0.04 per share) |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Stock based compensation expense |
— |
|
|
— |
|
|
3,091 |
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|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,091 |
|
Stock option exercises |
10 |
|
|
2 |
|
|
204 |
|
|
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
206 |
|
Tax effect of stock option exercises and restricted stock vesting |
— |
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|
— |
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(322 |
) |
|
— |
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|
— |
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|
— |
|
|
— |
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|
— |
|
|
(322 |
) |
Stock issued to, acquired for and distributed from rabbi trust |
5 |
|
|
1 |
|
|
85 |
|
|
— |
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|
— |
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|
— |
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(86 |
) |
|
86 |
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|
86 |
|
Balance at May 31, 2019 |
81,880 |
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|
$ |
16,374 |
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|
$ |
177,584 |
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|
$ |
(617,731 |
) |
|
$ |
1,184,749 |
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|
$ |
(153,552 |
) |
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$ |
(3,075 |
) |
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$ |
3,075 |
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|
$ |
607,424 |
|
The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2018 (in thousands):
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Common Stock |
|
Additional Paid-in Capital |
|
Treasury Stock |
|
Retained Earnings |
|
Accumulated Other Comprehensive Loss |
|
Stock Held in Trust |
|
Deferred Compensation Liability |
|
Total Shareholders’ Equity |
|
Issued Shares |
|
Amount |
|
Balance at February 28, 2018 |
81,088 |
|
|
$ |
16,218 |
|
|
$ |
155,974 |
|
|
$ |
(617,731 |
) |
|
$ |
1,178,047 |
|
|
$ |
(143,227 |
) |
|
$ |
(2,848 |
) |
|
$ |
2,848 |
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|
$ |
589,281 |
|
Net earnings |
— |
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|
— |
|
|
— |
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|
— |
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|
29,012 |
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|
— |
|
|
— |
|
|
— |
|
|
29,012 |
|
Other comprehensive loss, net of tax |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
(20,953 |
) |
|
254 |
|
|
(254 |
) |
|
(20,953 |
) |
Stock contribution to employee benefit plans and other |
5 |
|
|
1 |
|
|
129 |
|
|
— |
|
|
— |
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|
— |
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|
— |
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|
— |
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|
130 |
|
Restricted stock awards |
43 |
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|
8 |
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(8 |
) |
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— |
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— |
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— |
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— |
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|
— |
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|
— |
|
Cash dividend ($0.04 per share) |
— |
|
|
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
— |
|
Stock based compensation expense |
— |
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|
— |
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|
3,659 |
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|
— |
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|
— |
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|
— |
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|
— |
|
|
— |
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|
3,659 |
|
Stock option exercises |
— |
|
|
— |
|
|
— |
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|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Tax effect of stock option exercises and restricted stock vesting |
— |
|
|
— |
|
|
(171 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(171 |
) |
Stock issued to, acquired for and distributed from rabbi trust |
— |
|
|
— |
|
|
70 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
70 |
|
Balance at May 31, 2018 |
81,136 |
|
|
$ |
16,227 |
|
|
$ |
159,653 |
|
|
$ |
(617,731 |
) |
|
$ |
1,207,059 |
|
|
$ |
(164,180 |
) |
|
$ |
(2,594 |
) |
|
$ |
2,594 |
|
|
$ |
601,028 |
|
The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2019 (in thousands):
|
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|
Common Stock |
|
Additional Paid-in Capital |
|
Treasury Stock |
|
Retained Earnings |
|
Accumulated Other Comprehensive Loss |
|
Stock Held in Trust |
|
Deferred Compensation Liability |
|
Total Shareholders’ Equity |
|
Issued Shares |
|
Amount |
|
Balance at August 31, 2018 |
81,424 |
|
|
$ |
16,285 |
|
|
$ |
167,448 |
|
|
$ |
(617,731 |
) |
|
$ |
1,166,955 |
|
|
$ |
(174,245 |
) |
|
$ |
(2,450 |
) |
|
$ |
2,450 |
|
|
$ |
558,712 |
|
Net earnings |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
17,719 |
|
|
— |
|
|
— |
|
|
— |
|
|
17,719 |
|
Other comprehensive income, net of tax |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
20,693 |
|
|
— |
|
|
— |
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|
20,693 |
|
Stock contribution to employee benefit plans and other |
15 |
|
|
3 |
|
|
356 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
359 |
|
Restricted stock awards |
366 |
|
|
71 |
|
|
(71 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Cash dividend ($0.04 per share) |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Stock based compensation expense |
— |
|
|
— |
|
|
10,253 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10,253 |
|
Stock option exercises |
45 |
|
|
9 |
|
|
984 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
993 |
|
Tax effect related to net share settlement of equity awards |
— |
|
|
— |
|
|
(1,811 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(1,811 |
) |
Stock issued to, acquired for and distributed from rabbi trust |
30 |
|
|
6 |
|
|
425 |
|
|
— |
|
|
— |
|
|
— |
|
|
(625 |
) |
|
625 |
|
|
431 |
|
Adoption of accounting standard |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
75 |
|
|
— |
|
|
— |
|
|
— |
|
|
75 |
|
Balance at May 31, 2019 |
81,880 |
|
|
$ |
16,374 |
|
|
$ |
177,584 |
|
|
$ |
(617,731 |
) |
|
$ |
1,184,749 |
|
|
$ |
(153,552 |
) |
|
$ |
(3,075 |
) |
|
$ |
3,075 |
|
|
$ |
607,424 |
|
The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2018 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
|
Common Stock |
|
Additional Paid-in Capital |
|
Treasury Stock |
|
Retained Earnings |
|
Accumulated Other Comprehensive Loss |
|
Stock Held in Trust |
|
Deferred Compensation Liability |
|
Total Shareholders’ Equity |
|
Issued Shares |
|
Amount |
|
Balance at August 31, 2017 |
80,200 |
|
|
$ |
16,040 |
|
|
$ |
138,449 |
|
|
$ |
(617,731 |
) |
|
$ |
1,191,042 |
|
|
$ |
(227,261 |
) |
|
$ |
(2,696 |
) |
|
$ |
2,696 |
|
|
$ |
500,539 |
|
Net earnings |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
16,017 |
|
|
— |
|
|
— |
|
|
— |
|
|
16,017 |
|
Other comprehensive income, net of tax |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
63,081 |
|
|
254 |
|
|
(254 |
) |
|
63,081 |
|
Stock contribution to employee benefit plans and other |
15 |
|
|
3 |
|
|
393 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
396 |
|
Restricted stock awards |
395 |
|
|
79 |
|
|
(79 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Cash dividend ($0.04 per share) |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Stock based compensation expense |
— |
|
|
— |
|
|
11,951 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
11,951 |
|
Stock option exercises |
506 |
|
|
101 |
|
|
9,938 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10,039 |
|
Tax effect related to net share settlement of equity awards |
— |
|
|
— |
|
|
(1,279 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(1,279 |
) |
Stock issued to, acquired for and distributed from rabbi trust |
20 |
|
|
4 |
|
|
280 |
|
|
— |
|
|
— |
|
|
— |
|
|
(152 |
) |
|
152 |
|
|
284 |
|
Adoption of accounting standard |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Balance at May 31, 2018 |
81,136 |
|
|
$ |
16,227 |
|
|
$ |
159,653 |
|
|
$ |
(617,731 |
) |
|
$ |
1,207,059 |
|
|
$ |
(164,180 |
) |
|
$ |
(2,594 |
) |
|
$ |
2,594 |
|
|
$ |
601,028 |
|
|