Earnings per Share (Tables)

12 Months Ended

May 31, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share For Continuing Operations

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 for the fiscal years ended May 31:

Basic Earnings per Share (In thousands except per share data)	2024		2023		2022
Net income	$	1,571,592	$	1,348,010	$	1,235,757
Less: net income allocated to participating securities	5,928		5,463		6,132
Net income available to common shareholders	$	1,565,664	$	1,342,547	$	1,229,625
Basic weighted average common shares outstanding	101,653		101,645		103,172
Basic earnings per share	$	15.40	$	13.21	$	11.92

Diluted Earnings per Share (In thousands except per share data)	2024		2023		2022
Net income	$	1,571,592	$	1,348,010	$	1,235,757
Less: net income allocated to participating securities	5,928		5,463		6,132
Net income available to common shareholders	$	1,565,664	$	1,342,547	$	1,229,625
Basic weighted average common shares outstanding	101,653		101,645		103,172
Effect of dilutive securities – employee stock options	1,714		1,732		2,351
Diluted weighted average common shares outstanding	103,367		103,377		105,523
Diluted earnings per share	$	15.15	$	12.99	$	11.65

The following table presents unaudited proforma earnings per share on a post-split basis for the fiscal years ended May 31:

(In thousands except per share data)	2024		2023		2022
Net income allocated to common shareholders, as reported	$	1,565,664	$	1,342,547	$	1,229,625
Proforma basic weighted average common shares outstanding	406,612		406,580		412,688
Proforma effect of dilutive securities - employee stock options	6,856		6,928		9,404
Proforma diluted weighted average common shares outstanding	413,468		413,508		422,092
Proforma basic earnings per share	$	3.85	$	3.30	$	2.98
Proforma diluted earnings per share	$	3.79	$	3.25	$	2.91

Schedule of Buyback Activity by Program

The following table summarizes the buyback activity by program and fiscal years ended May 31:

	2024					2023					2022
Buyback Program (In thousands except    per share data)	Shares	Average Price per Share		Purchase Price		Shares	Average Price per Share		Purchase Price		Shares	Average Price per Share		Purchase Price
October 29, 2019	—	$	—	$	—	—	$	—	$	—	1,590	$	365.41	$	581,220
July 27, 2021	856	535.21		458,284		550	396.69		218,288		2,150	383.01		823,429
July 26, 2022	85	673.78		57,104		—	—		—		—	—		—
	941	$	547.69	$	515,388	550	$	396.69	$	218,288	3,740	$	375.53	$	1,404,649
Shares acquired for   taxes due (1)	331	$	557.34	$	184,645	430	$	420.21	$	180,577	305	$	397.16	$	121,224
Total repurchase of Cintas common stock				$	700,033				$	398,865				$	1,525,873

(1) Shares of Cintas stock acquired for employee-partner payroll taxes due on options exercised and vested restricted stock awards.

The following table summarizes Cintas' non-cash share buyback activity for the fiscal years ended May 31:

	2024					2023					2022
Buyback Program (In thousands except per share data)	Shares	Average Price per Share		Non-Cash Value		Shares	Average Price per Share		Non-Cash Value		Shares	Average Price per Share		Non-Cash Value
Non-cash transaction activity	283	$	548.74	$	155,403	360	$	424.86	$	152,983	71	$	402.73	$	28,670