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Earnings Per Share
 6 Months Ended
Feb. 28, 2021
Earnings Per Share [Abstract]  
Earnings per Share Earnings Per Share
Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share is computed similarly but reflects the potential dilution that would occur if dilutive options were exercised, all unvested share-based payment awards were vested, and other distributions related to deferred stock agreements were incurred.
The following table calculates basic earnings per common share and diluted earnings per common share for the periods presented (in millions, except per share data):
Three Months EndedSix Months Ended
February 28, 2021February 29, 2020February 28, 2021February 29, 2020
Net income$62.9 $57.2 $122.5 $114.2 
Basic weighted average shares outstanding36.0 39.5 36.9 39.5 
Common stock equivalents0.2 0.2 0.2 0.2 
Diluted weighted average shares outstanding36.2 39.7 37.1 39.7 
Basic earnings per share$1.75 $1.45 $3.32 $2.89 
Diluted earnings per share$1.74 $1.44 $3.30 $2.88 
The following table presents stock options, performance stock awards, and restricted stock awards that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive:
Three Months EndedSix Months Ended
February 28, 2021February 29, 2020February 28, 2021February 29, 2020
Stock options954,677 443,595 1,077,258 361,283 
Performance stock awards— — — 7,569 
Restricted stock awards71,812 102,210 116,219 116,962 
Further discussion of our stock options and restricted stock awards is included within the Common Stock and Related Matters and Share-based Payments footnotes of the Notes to Consolidated Financial Statements within our Form 10-K.