Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2
Earnings Per Share (Tables)
 9 Months Ended
May 31, 2022
Earnings Per Share [Abstract]  
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):
  Three Months Ended May 31, Nine Months Ended May 31,
  2022 2021 2022 2021
Numerator:
Net earnings from continuing operations $ 4,061  $ 25,257  $ 9,367  $ 33,663 
Net loss from discontinued operations (2,418) (226) (3,715) (852)
Net earnings $ 1,643  $ 25,031  5,652  32,811 
Denominator:
Weighted average common shares outstanding - basic 60,227  60,144  60,292  59,964 
Net effect of dilutive securities - stock based compensation plans 383  430  348  348 
Weighted average common shares outstanding - diluted 60,610  60,574  60,640  60,312 
Earnings per common share from continuing operations:
Basic $ 0.07  $ 0.42  $ 0.16  $ 0.56 
Diluted $ 0.07  $ 0.42  $ 0.15  $ 0.56 
Loss per common share from discontinued operations:
Basic $ (0.04) $ (0.00) $ (0.06) $ (0.01)
Diluted $ (0.04) $ (0.00) $ (0.06) $ (0.01)
Earnings per common share:*
Basic $ 0.03  $ 0.42  $ 0.09  $ 0.55 
Diluted $ 0.03  $ 0.41  $ 0.09  $ 0.54 
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 951  548  945  990 
*The total of Earnings per share from continuing operations and Loss per share from discontinued operations may not equal Earnings per share due to rounding.
The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2022 (in thousands):
  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, 2021 83,022  $ 16,604  $ 202,971  $ (667,732) $ 953,339  $ (92,984) $ (3,067) $ 3,067  $ 412,198 
Net earnings —  —  —  —  2,788  —  —  —  2,788 
Other comprehensive loss, net of tax —  —  —  —  —  (10,044) —  —  (10,044)
Stock contribution to employee benefit plans and other 2  1  84  —  —  —  —  —  85 
Vesting of equity awards 67  17  (17) —  —  —  —  —  — 
Stock based compensation expense —  —  6,147  —  —  —  —  —  6,147 
Tax effect related to net share settlement of equity awards —  —  (1,393) —  —  —  —  —  (1,393)
Stock issued to, acquired for and distributed from rabbi trust 1  —  25  —  —  —  (25) 25  25 
Balance at November 30, 2021 83,092  $ 16,622  $ 207,817  $ (667,732) $ 956,127  $ (103,028) $ (3,092) $ 3,092  $ 409,806 
Net earnings —  —  —  —  1,221  —  —  —  1,221 
Other comprehensive income, net of tax —  —  —  —  —  1,744  —  —  1,744 
Stock contribution to employee benefit plans and other 5  1  64  —  —  —  —  —  65 
Vesting of equity awards 247  46  (46) —  —  —  —  —  — 
Stock based compensation expense —  —  2,142  —  —  —  —  —  2,142 
Tax effect related to net share settlement of equity awards —  —  (1,980) —  —  —  —  —  (1,980)
Stock issued to, acquired for and distributed from rabbi trust 1  —  25  —  —  —  3  (3) 25 
Balance at February 28, 2022 83,345  $ 16,669  $ 208,022  $ (667,732) $ 957,348  $ (101,284) $ (3,089) $ 3,089  $ 413,023 
Net earnings —  —  —  —  1,643  —  —  —  1,643 
Other comprehensive loss, net of tax —  —  —  —  —  (16,030) —  —  (16,030)
Stock contribution to employee benefit plans and other 4  1  65  —  —  —  —  —  66 
Treasury stock repurchases —  —  —  (36,295) —  —  —  —  (36,295)
Stock based compensation expense —  —  3,828  —  —  —  —  —  3,828 
Tax effect related to net share settlement of equity awards —  —  (3) —  —  —  —  —  (3)
Stock issued to, acquired for and distributed from rabbi trust 1  —  40  —  —  —  (59) 59  40 
Balance at May 31, 2022 83,350  $ 16,670  $ 211,952  $ (704,027) $ 958,991  $ (117,314) $ (3,148) $ 3,148  $ 366,272 
The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2021 (in thousands):
  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, 2020 82,594  $ 16,519  $ 193,492  $ (667,732) $ 917,671  $ (100,724) $ (2,562) $ 2,562  $ 359,226 
Net earnings —  —  —  —  4,598  —  —  —  4,598 
Other comprehensive income, net of tax —  —  —  —  —  1,629  —  —  1,629 
Stock contribution to employee benefit plans and other 6  1  100  —  —  —  —  —  101 
Vesting of equity awards 20  4  (4) —  —  —  —  —  — 
Stock based compensation expense —  —  2,581  —  —  —  —  —  2,581 
Tax effect related to net share settlement of equity awards —  —  (275) —  —  —  —  —  (275)
Stock issued to, acquired for and distributed from rabbi trust 5  1  85  —  —  —  (81) 81  86 
Balance at November 30, 2020 82,625  $ 16,525  $ 195,979  $ (667,732) $ 922,269  $ (99,095) $ (2,643) $ 2,643  $ 367,946 
Net earnings —  —  —  —  3,182  —  —  —  3,182 
Other comprehensive income, net of tax —  —  —  —  —  9,157  —  —  9,157 
Stock contribution to employee benefit plans and other 4  1  80  —  —  —  —  —  81 
Vesting of equity awards 235  47  (47) —  —  —  —  —  — 
Stock based compensation expense —  —  2,647  —  —  —  —  —  2,647 
Tax effect related to net share settlement of equity awards —  —  (1,706) —  —  —  —  —  (1,706)
Stock issued to, acquired for and distributed from rabbi trust 15  3  83  —  —  —  (353) 353  86 
Balance at February 28, 2021 82,879  $ 16,576  $ 197,036  $ (667,732) $ 925,451  $ (89,938) $ (2,996) $ 2,996  $ 381,393 
Net earnings —  —  —  —  25,031  —  —  —  25,031 
Other comprehensive income, net of tax —  —  —  —  —  6,538  —  —  6,538 
Stock contribution to employee benefit plans and other 5  1  96  —  —  —  —  —  97 
Vesting of equity awards 17  3  (3) —  —  —  —  —  — 
Stock based compensation expense —  —  2,157  —  —  —  —  —  2,157 
Stock option exercises 89  18  2,008  —  —  —  —  —  2,026 
Tax effect related to net share settlement of equity awards —  —  (356) —  —  —  —  —  (356)
Stock issued to, acquired for and distributed from rabbi trust 1  —  25  —  —  —  (3) 3  25 
Balance at May 31, 2021 82,991  $ 16,598  $ 200,963  $ (667,732) $ 950,482  $ (83,400) $ (2,999) $ 2,999  $ 416,911