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STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC | 3 Months Ended
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Nov. 30, 2017
Earnings Per Share [Abstract] |
Stockholder's equity and earnings per share attributable to CMC | NOTE 12. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE The calculations of basic and diluted earnings per share from continuing operations for the three months ended November 30, 2017 and 2016 were as follows:
|  | Three Months Ended November 30,
(in thousands, except share data) |  | 2017 |  | 2016
Earnings from continuing operations |  | $ | 38,536 |  |  | $ | 4,936 |
Basic earnings per share: |  |  |  |
Shares outstanding for basic earnings per share |  | 116,243,545 |  |  | 115,097,467 |
Basic earnings per share from continuing operations |  | $ | 0.33 |  |  | $ | 0.04 |
Diluted earnings per share: |  |  |  |
Shares outstanding for basic earnings per share |  | 116,243,545 |  |  | 115,097,467 |
Effect of dilutive securities: |  |  |  |
Stock-based incentive/purchase plans |  | 1,614,366 |  |  | 1,507,322 |
Shares outstanding for diluted earnings per share |  | 117,857,911 |  |  | 116,604,789 |
Diluted earnings per share from continuing operations |  | $ | 0.32 |  |  | $ | 0.04 |
Anti-dilutive shares not included above |  | — |  |  | 130,989 |
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 share repurchase program under which CMC may repurchase up to $100.0 million of shares of CMC common stock. During the three months ended November 30, 2017 and 2016, CMC did not purchase any shares of CMC common stock. CMC had remaining authorization to purchase $27.6 million of common stock at November 30, 2017.

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