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STOCKHOLDERS EQUITY AND EARNINGS PER SHARE | 3 Months Ended
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Nov. 30, 2020
Earnings Per Share [Abstract] |
Stockholder's equity and earnings per share | NOTE 12. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE The calculations of basic and diluted earnings per share from continuing operations were as follows:
|  | Three Months Ended November 30, |  |
(in thousands, except share data) |  | 2020 |  | 2019 |  |  |  |
Earnings from continuing operations |  | $ | 63,911 |  |  | $ | 82,755 |  |  |  |  |
Basic earnings per share: |  |  |  |  |  |  |  |
Shares outstanding for basic earnings per share |  | 119,762,706 |  |  | 118,370,191 |  |  |  |  |
Basic earnings per share from continuing operations |  | $ | 0.53 |  |  | $ | 0.70 |  |  |  |  |
Diluted earnings per share: |  |  |  |  |  |  |  |
Shares outstanding for basic earnings per share |  | 119,762,706 |  |  | 118,370,191 |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Stock-based incentive/purchase plans |  | 1,365,338 |  |  | 1,403,347 |  |  |  |  |
Shares outstanding for diluted earnings per share |  | 121,128,044 |  |  | 119,773,538 |  |  |  |  |
Diluted earnings per share from continuing operations |  | $ | 0.53 |  |  | $ | 0.69 |  |  |  |  |
Anti-dilutive shares not included above were immaterial for all periods presented. Restricted stock is included in the number of shares of common stock issued and outstanding, but omitted from the basic earnings per share calculation until the shares vest. During the first quarter of 2015, CMC's Board of Directors authorized a share repurchase program under which CMC may repurchase up to $100.0 million of shares of common stock. During the three months ended November 30, 2020, CMC did not repurchase any shares of common stock. CMC had remaining authorization to repurchase $27.6 million of common stock at November 30, 2020.

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