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Net Earnings Per Share
 12 Months Ended
Feb. 28, 2014
Net Earnings Per Share [Abstract]  
Net Earnings Per Share

13.Net Earnings Per Share

Nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and should be included in the computation of net earnings per share pursuant to the two-class method as discussed in Note 2(X).  Our restricted stock awards are considered participating securities because they contain nonforfeitable rights to dividends and are included in the computation of net earnings per share pursuant to the two-class method.  Nonvested MSUs do not receive nonforfeitable dividend equivalent rights, and therefore, are not considered participating securities.  RSUs are nonparticipating, non-equity instruments, and therefore, are excluded from net earnings per share calculations.  There were no outstanding participating securities during fiscal 2014 and 2013.

Basic and Dilutive Net Earnings Per Share Reconciliations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended February 28 or 29

(In thousands except per share data)

 

 

2014

2013

2012

Net earnings

 

 

$
492,586 

 

$
434,284 

 

$
413,795 

 

Less net earnings allocable to restricted stock

 

 

 

 ―

 

 

 ―

 

 
166 

 

Net earnings available for basic and diluted common shares

 

 

$
492,586 

 

$
434,284 

 

$
413,629 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

 
223,589 

 

 
228,095 

 

 
226,282 

 

Dilutive potential common shares:

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 
3,255 

 

 
3,161 

 

 
3,608 

 

Stock-settled restricted stock units

 

 

 
740 

 

 
567 

 

 
831 

 

Weighted average common shares and dilutive

 

 

 

 

 

 

 

 

 

 

 

potential common shares

 

 

 
227,584 

 

 
231,823 

 

 
230,721 

 

Basic net earnings per share

 

 

$
2.20 

 

$
1.90 

 

$
1.83 

 

Diluted net earnings per share

 

 

$
2.16 

 

$
1.87 

 

$
1.79 

 

 

Certain weighted-average options to purchase shares of common stock were outstanding and not included in the calculation of diluted net earnings per share because their inclusion would have been antidilutive.  In fiscal 2014, weighted average options to purchase 1,231,382 shares were not included.  In fiscal 2013, weighted-average options to purchase 3,877,165 shares were not included.  In fiscal 2012, weighted-average options to purchase 1,750,473 shares were not included.