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Earnings Per Share (Tables) | 3 Months Ended
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Aug. 31, 2020
Earnings Per Share [Abstract] |
Computation of Basic and Diluted Earnings Per Share | The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares.
| Three Months Ended |  |  |  |  |  |
Basic Earnings per Share (in thousands except per share data) | August 31, 2020 |  | August 31, 2019 |  |  |  |
Net income | $ | 300,005 |  |  | $ | 250,812 |  |  |  |  |
Less: income allocated to participating securities | 2,173 |  |  | 2,016 |  |  |  |  |
Income available to common shareholders | $ | 297,832 |  |  | $ | 248,796 |  |  |  |  |
Basic weighted average common shares outstanding | 104,110 |  |  | 103,543 |  |  |  |  |
Basic earnings per share | $ | 2.86 |  |  | $ | 2.40 |  |  |  |  |
| Three Months Ended |  |  |  |  |  |
Diluted Earnings per Share (in thousands except per share data) | August 31, 2020 |  | August 31, 2019 |  |  |  |
Net income | $ | 300,005 |  |  | $ | 250,812 |  |  |  |  |
Less: income allocated to participating securities | 2,173 |  |  | 2,016 |  |  |  |  |
Income available to common shareholders | $ | 297,832 |  |  | $ | 248,796 |  |  |  |  |
Basic weighted average common shares outstanding | 104,110 |  |  | 103,543 |  |  |  |  |
Effect of dilutive securities – employee stock options | 3,019 |  |  | 3,540 |  |  |  |  |
Diluted weighted average common shares outstanding | 107,129 |  |  | 107,083 |  |  |  |  |
Diluted earnings per share | $ | 2.78 |  |  | $ | 2.32 |  |  |  |  |
Buyback Activity by Program | The following table summarizes the buyback activity by program and for the three months ended August 31:
| 2020 |  |  |  |  |  | 2019 |  |  |  |
Buyback Program (In thousands except per share data) | Shares |  | Avg. Price per Share |  | Purchase Price |  | Shares |  | Avg. Price per Share |  | Purchase Price
October 30, 2018 | — |  |  | $ | — |  |  | $ | — |  |  | 837 |  |  | $ | 230.66 |  |  | $ | 193,109 |
October 29, 2019 | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | $ | — |
| — |  |  | $ | — |  |  | $ | — |  |  | 837 |  |  | $ | 230.66 |  |  | $ | 193,109 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23309-112656 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6405813&loc=d3e23239-112655 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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