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Net Income Per Share | 12 Months Ended
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Aug. 31, 2024
Earnings Per Share [Abstract] |
Net Income Per Share | NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted-average number of shares of the Class A Common Stock, and the Company’s Class B Common Stock, par value $0.001 per share (“Class B Common Stock” and, together with Class A Common Stock, “Common Stock”), outstanding during the period. In the first quarter of fiscal year 2024, all Class B Com mon Stock was reclassified, exchanged and converted into Class A Common Stock in connection with the Reclassification. See Note 12, “Shareholders’ Equity” for additional information. Dil uted net income per share is computed by dividing net income by the weighted-average number of shares of Common Stock outstanding during the period, including potentially dilutive shares of Common Stock equivalents outstanding during the period. The dilutive effect of potential shares of Common Stock is determined using the treasury stock method. The following table sets forth the computation of basic and diluted net income per common share under the treasury stock method for fiscal years 2024, 2023 and 2022:
| For the Fiscal Years Ended
| August 31, 2024 |  | September 2, 2023 |  | September 3, 2022
| (52 weeks) |  | (52 weeks) |  | (53 weeks)
Numerator: |  |  |  |  |
Net income attributable to MSC Industrial, as reported | 258,594 |  |  | $ | 343,233 |  |  | $ | 339,786 |
Denominator: |  |  |  |  |
Weighted-average shares outstanding for basic net income per share | 56,257 |  | 55,918 |  | 55,777
Effect of dilutive securities | 184 |  | 292 |  | 268
Weighted-average shares outstanding for diluted net income per share | 56,441 |  | 56,210 |  | 56,045
Net income per share: |  |  |  |  |
Basic | $ | 4.60 |  |  | $ | 6.14 |  |  | $ | 6.09 |
Diluted | $ | 4.58 |  |  | $ | 6.11 |  |  | $ | 6.06 |
Potentially dilutive securities | 37 |  | — |  | 400
Potentially dilutive securities attributable to outstanding share-based awards are excluded from the calculation of diluted net income per share when the combined exercise price and average unamortized fair value are greater than the average market price of Class A Common Stock, and, therefore, their inclusion would be anti-dilutive.

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