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STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC | 6 Months Ended
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Feb. 29, 2016
Earnings Per Share [Abstract] |
Stockholder's equity and earnings per share attributable to CMC | NOTE 13. STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC The calculations of basic and diluted earnings per share from continuing operations for the three and six months ended February 29, 2016 and February 28, 2015 were as follows:
|  | Three Months Ended |  | Six Months Ended
(in thousands, except share data) |  | February 29, 2016 |  | February 28, 2015 |  | February 29, 2016 |  | February 28, 2015
Earnings from continuing operations attributable to CMC |  | $ | 10,849 |  |  | $ | 13,465 |  |  | $ | 36,482 |  |  | $ | 47,730 |
Basic earnings per share: |  |  |  |  |  |  |  |
Shares outstanding for basic earnings per share |  | 115,429,550 |  |  | 116,688,162 |  |  | 115,725,896 |  |  | 117,244,406 |
Basic earnings per share from continuing operations attributable to CMC |  | $ | 0.09 |  |  | $ | 0.12 |  |  | $ | 0.32 |  |  | $ | 0.41 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Shares outstanding for basic earnings per share |  | 115,429,550 |  |  | 116,688,162 |  |  | 115,725,896 |  |  | 117,244,406 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Stock-based incentive/purchase plans |  | 1,078,041 |  |  | 995,314 |  |  | 1,276,926 |  |  | 1,151,438 |
Shares outstanding for diluted earnings per share |  | 116,507,591 |  |  | 117,683,476 |  |  | 117,002,822 |  |  | 118,395,844 |
Diluted earnings per share from continuing operations attributable to CMC |  | $ | 0.09 |  |  | $ | 0.11 |  |  | $ | 0.31 |  |  | $ | 0.40 |
Anti-dilutive shares not included above |  | 714,342 |  |  | 854,703 |  |  | 714,342 |  |  | 623,042 |
CMC's restricted stock is included in the number of shares of common stock issued and outstanding, but is omitted from the basic earnings per share calculation until the shares vest. During the first quarter of fiscal 2015, CMC's Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $100.0 million of shares of CMC common stock. This new program replaced the existing program, which was terminated by CMC's Board of Directors in connection with the approval of the new program. During the three and six months ended February 29, 2016, the Company purchased 1,938,983 and 2,255,069 shares of CMC common stock, respectively, at an average purchase price of $13.43 and $13.57 per share, respectively. During the three and six months ended February 28, 2015, the Company purchased 2,202,342 and 2,762,835 shares of CMC common stock, respectively, at an average purchase price of $13.73 and $14.33 per share, respectively. The Company had remaining authorization to purchase $27.6 million of common stock at February 29, 2016 pursuant to its share repurchase program.

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