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Earnings Per Share
 9 Months Ended
Feb. 28, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share 
Cintas uses the two-class method to calculate basic and diluted earnings per share as a result of outstanding participating securities in the form of restricted stock awards. The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares:
Three Months EndedNine Months Ended
Basic Earnings per Share
(In thousands except per share data)
February 28, 2023February 28, 2022February 28, 2023February 28, 2022
Net income$325,827 $315,448 $1,001,809 $941,296 
Less: net income allocated to participating securities1,351 1,581 4,155 4,706 
Net income available to common
   shareholders
$324,476 $313,867 $997,654 $936,590 
Basic weighted average common shares outstanding
101,714 103,388 101,589 103,438 
Basic earnings per share$3.19 $3.04 $9.82 $9.05 
Three Months EndedNine Months Ended
Diluted Earnings per Share
(In thousands except per share data)
February 28, 2023February 28, 2022February 28, 2023February 28, 2022
Net income$325,827 $315,448 $1,001,809 $941,296 
Less: net income allocated to participating securities1,351 1,581 4,155 4,706 
Net income available to common
   shareholders
$324,476 $313,867 $997,654 $936,590 
Basic weighted average common shares outstanding
101,714 103,388 101,589 103,438 
Effect of dilutive securities – employee stock options
1,704 2,253 1,774 2,458 
Diluted weighted average common shares outstanding
103,418 105,641 103,363 105,896 
Diluted earnings per share$3.14 $2.97 $9.65 $8.84 

For the three months ended February 28, 2023 and 2022, options granted to purchase 0.5 million and 0.6 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. For the nine months ended February 28, 2023 and 2022, options granted to purchase 1.0 million and 0.5 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. The exercise prices of these options were greater than the average market price of the common stock (anti-dilutive).
On October 29, 2019, we announced that the Board of Directors authorized a $1.0 billion share buyback program, which was completed during the first quarter of fiscal 2022. On July 27, 2021, Cintas announced that the Board of Directors authorized a $1.5 billion share buyback program, which does not have an expiration date. From the inception of the July 27, 2021 share buyback program through February 28, 2023, Cintas purchased a total of 2.7 million shares of Cintas common stock at an average price of $385.62 per share for a total purchase price of $1.0 billion. On July 26, 2022, Cintas announced that the Board of Directors authorized a new $1.0 billion share buyback program, which does not have an expiration date. The following tables summarize the share buyback activity by program and period:
Three Months EndedNine Months Ended
February 28, 2023February 28, 2023
Buyback Activity
(In thousands except per share data)
SharesAvg. Price
per Share		Purchase
Price		SharesAvg. Price
per Share		Purchase
Price
July 27, 2021— $— $— 544 $395.97 $215,434 
July 26, 2022— — — — — — 
— $— $— 544 $395.97 $215,434 
Shares acquired for taxes due (1)
49 $448.79 $22,235 375 $414.23 $155,483 
Total repurchase of Cintas common stock$22,235 $370,917 

Three Months EndedNine Months Ended
February 28, 2022February 28, 2022
Buyback Activity
(In thousands except per share data)
SharesAvg. Price
per Share		Purchase
Price		SharesAvg. Price
per Share		Purchase
Price
October 29, 2019— $— $— 1,590 $365.41 $581,220 
July 27, 20211,386 388.03 537,655 1,386 388.03 537,655 
1,386 $388.03 $537,655 2,976 $375.94 $1,118,875 
Shares acquired for taxes due (1)
50 $390.60 $19,460 261 $394.84 $102,966 
Total repurchase of Cintas common stock$557,115 $1,221,841 
(1) Shares of Cintas common stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards.

In addition to the share buyback activity presented above, Cintas acquired shares of Cintas common stock, via non-cash transactions, in connection with net-share settlements of option exercises. The following tables summarizes Cintas' non-cash share buyback activity:
Three Months EndedNine Months Ended
February 28, 2023February 28, 2023

(In thousands except per share data)
SharesAvg. Price
per Share		Non-Cash
Value		SharesAvg. Price
per Share		Non-Cash
Value
Non-cash transaction activity54 $445.60 $23,852 313 $419.78 $131,418 
Three Months EndedNine Months Ended
February 28, 2022February 28, 2022
SharesAvg. Price
per Share		Non-Cash
Value		SharesAvg. Price
per Share		Non-Cash
Value
Non-cash transaction activity30 $391.03 $12,000 30 $391.03 $12,000