Earnings Per Share

9 Months Ended

May 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

Note 14. Earnings Per Share

The dilutive effect of outstanding stock options on earnings per share is calculated using the treasury stock method. Stock options are anti-dilutive and excluded from the earnings per share calculation if the exercise price exceeds the average market price of the common shares. There were 2.8 million outstanding options to purchase common shares that were anti-dilutive and excluded from the third quarter earnings per share calculation as of May 31, 2016 compared to no outstanding options as of May 31, 2015. Anti-dilutive shares excluded from the year to date earnings per share calculation were 2.4 million compared to 3.3 million for the periods ending May 31, 2016 and May 31, 2015, respectively.