Common Stock and Earnings Per Share

6 Months Ended

Feb. 29, 2020

COMMON STOCK AND EARNINGS PER SHARE

On February 18, 2020, FactSet’s Board of Directors approved a regular quarterly dividend of $0.72 per share. The cash dividend of $27.1 million was paid on March 19, 2020 to common stockholders of record at the close of business on February 28, 2020.

Shares of common stock outstanding were as follows:


	Six Months Ended
	February 29,	February 28,
(in thousands)	2020	2019
Balance, beginning of year at September 1, 2019 and 2018, respectively	38,118	38,192
Common stock issued for employee stock plans	348	426
Repurchase of common stock from employees⁽¹⁾	(6)	(28)
Repurchase of common stock under the share repurchase program	(611)	(490)
Balance at February 29, 2020 and February 28 2019, respectively	37,849	38,100

(1)For the six months ended February 29, 2020 and February 28, 2019, the Company repurchased 6,252 and 27,852 shares, or $1.6 million and $6.1 million of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock and exercise of stock options.

A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share ("EPS") computations is as follows:


(in thousands, except per share data)	Net Income (Numerator)		Weighted Average Common Shares (Denominator)	Per Share Amount
For the three months ended February 29, 2020
Basic EPS
Income available to common stockholders	$	88,686	37,875	$	2.34
Diluted EPS
Dilutive effect of stock options and restricted stock			701
Income available to common stockholders plus assumed conversions	$	88,686	38,576	$	2.30
For the three months ended February 28, 2019
Basic EPS
Income available to common stockholders	$	84,702	38,055	$	2.23
Diluted EPS
Dilutive effect of stock options and restricted stock			564
Income available to common stockholders plus assumed conversions	$	84,702	38,619	$	2.19
For the six months ended February 29, 2020
Basic EPS
Income available to common stockholders	$	182,643	37,927	$	4.82
Diluted EPS
Dilutive effect of stock options and restricted stock			655
Income available to common stockholders plus assumed conversions	$	182,643	38,582	$	4.73
For the six months ended February 28, 2019
Basic EPS
Income available to common stockholders	$	168,998	38,081	$	4.44
Diluted EPS
Dilutive effect of stock options and restricted stock			633
Income available to common stockholders plus assumed conversions	$	168,998	38,714	$	4.37

Dilutive potential common shares consist of stock options and unvested performance-based awards. There were 18,065 stock options excluded from the calculation of diluted EPS for the six months ended February 29, 2020, because their inclusion would have been anti-dilutive. For the six months ended February 28, 2019, the number of stock options excluded from calculation of diluted EPS was 447,709.

Performance-based awards are omitted from the calculation of diluted EPS until it is determined that the performance criteria has been met at the end of the reporting period. For the six months ended February 29, 2020, there were 36,501 performance-based awards excluded from the calculation of diluted EPS respectively. For the six months ended February 28, 2019, there were 206,417 performance-based awards excluded from the calculation of diluted EPS.