Net Earnings Per Share

Basic net earnings per share is computed by dividing net earnings available for basic common shares by the weighted average number of shares of common stock outstanding. Diluted net earnings per share is computed by dividing net earnings available for diluted common shares by the sum of weighted average number of shares of common stock outstanding and dilutive potential common stock. Diluted net earnings per share is calculated using the “if-converted” treasury stock method.

Basic and Dilutive Net Earnings Per Share Reconciliations



	Three Months Ended				Nine Months Ended
	November 30				November 30
(In thousands except per share data)	2017		2016		2017		2016
Net earnings	$	148,840	$	136,645	$	541,966	$	474,367

Weighted average common shares outstanding	181,888		189,200		183,324		191,431
Dilutive potential common shares:
Stock options	1,659		1,191		1,444		1,346
Stock-settled stock units and awards	486		427		433		462
Weighted average common shares and dilutive potential common shares	184,033		190,818		185,201		193,239

Basic net earnings per share	$	0.82	$	0.72	$	2.96	$	2.48
Diluted net earnings per share	$	0.81	$	0.72	$	2.93	$	2.45

Certain 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. On a weighted average basis, for the three months ended November 30, 2017 and 2016, options to purchase 2,712,724 shares and 3,104,720 shares of common stock, respectively, were not included. For the nine months ended November 30, 2017 and 2016, weighted average options to purchase 2,900,093 shares and 3,253,237 shares, respectively, were not included.