Net Earnings Per Share

9 Months Ended

Nov. 30, 2019

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)	2019		2018		2019		2018
Net earnings	$	173,156	$	190,311	$	673,499	$	649,857

Weighted average common shares outstanding	164,273		173,816		165,321		176,088
Dilutive potential common shares:
Stock options	1,820		1,109		1,466		1,165
Stock-settled stock units and awards	441		396		367		403
Weighted average common shares and dilutive potential common shares	166,534		175,321		167,154		177,656

Basic net earnings per share	$	1.05	$	1.09	$	4.07	$	3.69
Diluted net earnings per share	$	1.04	$	1.09	$	4.03	$	3.66

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, 2019 and 2018, options to purchase 1,235,575 shares and 2,808,555 shares of common stock, respectively, were not included. For the nine months ended November 30, 2019 and 2018, options to purchase 1,272,429 shares and 3,904,738 shares of common stock, respectively, were not included.