Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 6 Months Ended
Feb. 28, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The reconciliations between basic and diluted earnings per share are as follows (in thousands, except per share amounts):
 
 
Three Months Ended
 
Six Months Ended
 
 
February 28,
2013
 
February 29,
2012
 
February 28,
2013
 
February 29,
2012
Numerator:
 
 
 
 
 
 
 
 
Net earnings
 
$
28,435

 
$
32,175

 
$
64,778

 
$
69,349

Plus: 2% Convertible Notes financing costs, net of taxes
 
—

 
383

 
—

 
893

Net earnings for diluted earnings per share
 
$
28,435

 
$
32,558

 
$
64,778

 
$
70,242

Denominator:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding for basic earnings per share
 
72,946

 
68,064

 
72,869

 
68,242

Net effect of dilutive securities—equity based compensation plans
 
1,470

 
1,084

 
1,474

 
925

Net effect of 2% Convertible Notes based on the if-converted method
 
—

 
5,957

 
—

 
5,957

Weighted average common and equivalent shares outstanding for diluted earnings per share
 
74,416

 
75,105

 
74,343

 
75,124

 
 
 
 
 
 
 
 
 
Basic Earnings Per Share:
 
$
0.39

 
$
0.47

 
$
0.89

 
$
1.02

Diluted Earnings Per Share:
 
$
0.38

 
$
0.43

 
$
0.87

 
$
0.94

 
 
 
 
 
 
 
 
 
Anti-dilutive securities-equity based compensation plans (excluded from earnings per share calculation)
 
759

 
2,175

 
774

 
3,016


As discussed in Note 6, “Debt” the Company issued 5,951,440 shares of common stock in the third quarter of fiscal 2012, in conjunction with the conversion of its 2% Convertible Notes, resulting in an increase in the weighted average common shares outstanding for basic earnings per share. However, the impact of the additional share issuance was already included in the diluted earnings per share calculation, on an if-converted method. The Company has also repurchased common shares on the open market in the last year, as well as issued new shares pursuant to equity compensation plans.