Earnings Per Common Share

12 Months Ended

Aug. 31, 2018

Earnings Per Common Share [Abstract]

Note 9. Earnings per Common Share

The table below reconciles net income to net income available to common shareholders (in thousands):



	Fiscal Year Ended August 31,
	2018		2017		2016
Net income	$	65,215	$	52,930	$	52,628
Less: Net income allocated to participating securities		(423)		(323)		(334)
Net income available to common shareholders	$	64,792	$	52,607	$	52,294

The table below summarizes the weighted-average number of common shares outstanding included in the calculation of basic and diluted EPS (in thousands):



	Fiscal Year Ended August 31,
	2018		2017		2016
Weighted-average common shares outstanding, basic		13,929		14,089		14,332
Weighted-average dilutive securities		33		34		47
Weighted-average common shares outstanding, diluted		13,962		14,123		14,379

There were no anti-dilutive stock-based equity awards outstanding for the fiscal years ended August 31, 2018 and 2017. For the fiscal year ended August 31, 2016, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 4,501 were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive.