XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE | 9 Months Ended
--- | ---
May 31, 2024
Earnings Per Share [Abstract] |
Stockholder's equity and earnings per share | NOTE 11. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE The Company's calculation of basic earnings per share ("EPS") and diluted EPS are described in Note 16, Earnings Per Share, to the consolidated financial statements in the 2023 Form 10-K. The calculations of basic and diluted EPS were as follows:
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
(in thousands, except share and per share data) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net earnings |  | $ | 119,440 |  |  | $ | 233,971 |  |  | $ | 381,560 |  |  | $ | 675,594 |
Average basic shares outstanding |  | 115,529,942 |  |  | 117,066,623 |  |  | 116,228,826 |  |  | 117,192,710 |
Effect of dilutive securities |  | 1,134,943 |  |  | 1,331,276 |  |  | 1,354,229 |  |  | 1,554,374 |
Average diluted shares outstanding |  | 116,664,885 |  |  | 118,397,899 |  |  | 117,583,055 |  |  | 118,747,084 |
Earnings per share: |  |  |  |  |  |  |  |
Basic |  | $ | 1.03 |  |  | $ | 2.00 |  |  | $ | 3.28 |  |  | $ | 5.76 |
Diluted |  | 1.02 |  |  | 1.98 |  |  | 3.25 |  |  | 5.69 |
For all periods presented above, the Company had immaterial anti-dilutive shares, which were not included in the computation of average diluted shares outstanding. In October 2021, the Board approved a share repurchase program under which the Company was authorized to repurchase up to $350.0 million of shares of CMC common stock. In January 2024, the Board authorized an increase of $500.0 million to the existing share repurchase program. During the three and nine months ended May 31, 2024, the Company repurchased 931,281 and 2,498,129 shares of CMC common stock, at an average purchase price of $55.64 and $51.30 per share, respectively. The Company had remaining authorization to repurchase $458.6 million of shares of CMC common stock at May 31, 2024.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration