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CAPITAL STOCK
12 Months Ended
Aug. 31, 2015
Stockholders' Equity Note [Abstract]  
CAPITAL STOCK
NOTE 16. CAPITAL STOCK

Treasury Stock

On October 27, 2014, CMC's Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $100.0 million of CMC's outstanding shares of common stock. This new program replaced the existing program, which has been terminated by the Company's Board of Directors in connection with the approval of the new program. The new share repurchase program does not require the Company to acquire any dollar amount or number of shares of CMC's common stock and may be modified, suspended, extended or terminated by the Company at any time without prior notice. CMC did not purchase any shares under the previous share repurchase program during the year ended August 31, 2015. Under the new share repurchase program, CMC purchased 2,902,218 shares during the year ended August 31, 2015 and had remaining authorization to purchase $58.2 million of its common stock at August 31, 2015.

CMC did not purchase any shares during the year ended August 31, 2014.

Preferred Stock

Preferred stock has a par value of $1.00 per share, with 2,000,000 shares authorized. It may be issued in series, and the shares of each series have such rights and preferences as may be fixed by CMC's Board of Directors when authorizing the issuance of that particular series. There are no shares of preferred stock outstanding.