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Earnings per Share (Tables) | 12 Months Ended
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May 31, 2022
Earnings Per Share [Abstract] |
Computation of Basic and Diluted Earnings Per Share For Continuing Operations | The following tables set forth the computation of basic and diluted earnings per share from continuing operations using the two-class method for amounts attributable to Cintas' common shares for the fiscal years ended May 31:
Basic Earnings per Share from Continuing Operations (In thousands except per share data) | 2022 |  | 2021 |  | 2020
Income from continuing operations | $ | 1,235,757 |  |  | $ | 1,110,968 |  |  | $ | 876,360 |
Less: income from continuing operations allocated to participating securities | 6,132 |  |  | 7,623 |  |  | 8,158 |
Income from continuing operations available to common shareholders | $ | 1,229,625 |  |  | $ | 1,103,345 |  |  | $ | 868,202 |
Basic weighted average common shares outstanding | 103,172 |  |  | 104,874 |  |  | 103,816 |
Basic earnings per share from continuing operations | $ | 11.92 |  |  | $ | 10.52 |  |  | $ | 8.36 |
Diluted Earnings per Share from Continuing Operations (In thousands except per share data) | 2022 |  | 2021 |  | 2020
Income from continuing operations | $ | 1,235,757 |  |  | $ | 1,110,968 |  |  | $ | 876,360 |
Less: income from continuing operations allocated to participating securities | 6,132 |  |  | 7,623 |  |  | 8,158 |
Income from continuing operations available to common shareholders | $ | 1,229,625 |  |  | $ | 1,103,345 |  |  | $ | 868,202 |
Basic weighted average common shares outstanding | 103,172 |  |  | 104,874 |  |  | 103,816 |
Effect of dilutive securities – employee stock options | 2,351 |  |  | 2,833 |  |  | 3,196 |
Diluted weighted average common shares outstanding | 105,523 |  |  | 107,707 |  |  | 107,012 |
Diluted earnings per share from continuing operations | $ | 11.65 |  |  | $ | 10.24 |  |  | $ | 8.11 |
Summary of Buyback Activity by Program | The following table summarizes the buyback activity by program and fiscal year ended May 31:
| 2022 |  | 2021 |  | 2020
Buyback Program (In thousands except per share data) | Shares |  | Average Price per Share |  | Purchase Price |  | Shares |  | Average Price per Share |  | Purchase Price |  | Shares |  | Average Price per Share |  | Purchase Price
October 30, 2018 | — |  |  | $ | — |  |  | $ | — |  |  | 190 |  |  | $ | 319.88 |  |  | $ | 60,877 |  |  | 1,607 |  |  | $ | 246.19 |  |  | $ | 395,681 |
October 29, 2019 | 1,590 |  |  | 365.41 |  |  | 581,220 |  |  | 1,196 |  |  | 350.31 |  |  | 418,779 |  |  | — |  |  | — |  |  | — |
July 27, 2021 | 2,150 |  |  | 383.01 |  |  | 823,429 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 3,740 |  |  | $ | 375.53 |  |  | $ | 1,404,649 |  |  | 1,386 |  |  | $ | 346.13 |  |  | $ | 479,656 |  |  | 1,607 |  |  | $ | 246.19 |  |  | $ | 395,681 |
Shares acquired for taxes due (1) | 305 |  |  | $ | 397.16 |  |  | $ | 121,224 |  |  | 246 |  |  | $ | 302.52 |  |  | $ | 74,465 |  |  | 264 |  |  | $ | 260.89 |  |  | $ | 68,837 |
Total repurchase of Cintas common stock |  |  |  |  | $ | 1,525,873 |  |  |  |  |  |  | $ | 554,121 |  |  |  |  |  |  | $ | 464,518 |
(1) Shares of Cintas stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards.

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