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EARNINGS PER SHARE | 12 Months Ended
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Aug. 31, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 17. EARNINGS PER SHARE Basic earnings per share ("EPS") is computed based on the weighted average shares of common stock outstanding during the period. Restricted stock is included in the number of shares of common stock issued and outstanding, but omitted from the basic EPS calculation until the shares vest. Diluted EPS is computed based on the weighted average shares of common stock plus the effect of dilutive securities outstanding during the period using the treasury stock method. The effect of dilutive securities includes the impact of outstanding stock-based incentive awards and shares purchased by employees through participation in the Company's employee stock purchase plan. The calculations of basic and diluted EPS from continuing operations were as follows:
|  | Year Ended August 31,
(in thousands, except share and per share data) |  | 2022 |  | 2021 |  | 2020
Net earnings from continuing operations |  | $ | 1,217,262 |  |  | $ | 412,865 |  |  | $ | 278,302 |
Average basic shares outstanding |  | 120,648,090 |  |  | 120,338,357 |  |  | 118,921,854 |
Effect of dilutive securities |  | 1,724,296 |  |  | 1,645,140 |  |  | 1,387,767 |
Average diluted shares outstanding |  | 122,372,386 |  |  | 121,983,497 |  |  | 120,309,621 |
Earnings per share: |  |  |  |  |  |
Basic |  | $ | 10.09 |  |  | $ | 3.43 |  |  | $ | 2.34 |
Diluted |  | $ | 9.95 |  |  | $ | 3.38 |  |  | $ | 2.31 |
Anti-dilutive shares not included in the table above were immaterial for all periods presented.

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