Net Earnings Per Share

3 Months Ended

May 31, 2020

Earnings Per Share [Abstract]

Net Earnings Per Share

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
	May 31
(In thousands except per share data)	2020		2019
Net earnings	$	4,978	$	266,744
Weighted average common shares outstanding	162,673		166,324
Dilutive potential common shares:
Stock options	527		1,000
Stock-settled stock units and awards	337		319
Weighted average common shares and dilutive potential common shares	163,537		167,643
Basic net earnings per share	$	0.03	$	1.60
Diluted net earnings per share	$	0.03	$	1.59

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 May 31, 2020 and 2019, options to purchase 4,258,269 shares and 3,083,172 shares of common stock, respectively, were not included.