Net Earnings Per Share

3 Months Ended

May 31, 2022

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)	2022		2021
Net earnings	$	252,265	$	436,756

Weighted average common shares outstanding	160,298		163,151
Dilutive potential common shares:
Stock options	1,178		2,529
Stock-settled stock units and awards	322		615
Weighted average common shares and dilutive potential common shares	161,798		166,295

Basic net earnings per share	$	1.57	$	2.68
Diluted net earnings per share	$	1.56	$	2.63

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, 2022 and 2021, options to purchase 1,344,783 shares and 289,140 shares of common stock, respectively, were not included.