Capital Stock and Share Repurchases

12 Months Ended

Aug. 31, 2026

Note 14. Capital Stock and Share Repurchases

The authorized common stock of the Company as of August 31, 2026 consisted of 168,000,000 shares of Class A common stock, $0.20 par value, of which 51,185,430 shares were issued and outstanding; 1,500,000 shares of Class B common stock, $0.20 par value, none of which are outstanding; and 160,000 shares of cumulative preferred stock, $1.00 par value (“preferred stock”), none of which have been issued. Holders of both classes of the Company’s common stock are entitled to dividends, as the Company’s Board of Directors may declare out of funds legally available, subject to any contractual restrictions on the payment of dividends or other distributions on the common stock. If the Company were to issue any of its preferred stock, no dividends could be paid or set apart on shares of common stock, unless paid in common stock, until dividends on all of the issued and outstanding shares of preferred stock had been paid or set apart for payment and provision had been made for any mandatory sinking fund payments.

The Company's Board of Directors has authorized the repurchase and immediate retirement of shares of the Company's common stock under publicly announced share repurchase and retirement programs. Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 33,860,026 shares of common stock for $988.7 million. In October 2025, the Company's Board of Directors approved a new share repurchase program authorizing the repurchase of a total of $200 million of the Company's outstanding common stock. This new program took immediate effect, and replaced the prior share repurchase program that had been authorized in March 2022. The Company repurchased and retired 2,078,645 shares for $81.1 million (inclusive of excise taxes of $0.8 million) in the year ended August 31, 2026 under the October 2025 authorization and 1,699,200 shares for $68.7 million (inclusive of excise taxes of $0.7 million) in the year ended August 31, 2025 under the previous authorization. At August 31, 2026, the maximum value of shares that may yet be purchased under the program is $119.7 million.

Earnings Per Share

The reconciliation between basic and diluted earnings per share is as follows:


(in millions, except per share amounts)	Year Ended August 31,
	2026		2025		2024
Numerator:
Net earnings from continuing operations	$	89.7	$	92.7	$	82.2
Earnings from discontinued operations, net of income taxes	—		—		3.5
Net earnings	$	89.7	$	92.7	$	85.7
Denominator:
Weighted average common shares outstanding - basic	51.8		54.0		54.3
Net effect of dilutive securities - stock based compensation plans	0.4		0.5		0.6
Weighted average common shares outstanding - diluted	52.2		54.5		54.9

Earnings per share from continuing operations
Basic	$	1.73	$	1.72	$	1.51
Diluted	$	1.72	$	1.70	$	1.50

Earnings per share from discontinued operations
Basic	$	—	$	—	$	0.07
Diluted	$	—	$	—	$	0.06

Earnings per share:
Basic	$	1.73	$	1.72	$	1.58
Diluted	$	1.72	$	1.70	$	1.56

Anti-dilutive securities- stock based compensation plans (excluded from earnings per share calculation)	0.1		0.1		0.1