Net Earnings Per Share

9 Months Ended

Nov. 30, 2023

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)	2023		2022		2023		2022
Net earnings	$	82,003	$	37,580	$	428,936	$	415,750

Weighted average common shares outstanding	158,446		158,003		158,347		159,044
Dilutive potential common shares:
Stock options	156		268		301		857
Stock-settled stock units and awards	197		265		218		294
Weighted average common shares and dilutive potential common shares	158,799		158,536		158,866		160,195

Basic net earnings per share	$	0.52	$	0.24	$	2.71	$	2.61
Diluted net earnings per share	$	0.52	$	0.24	$	2.70	$	2.60

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, 2023 and 2022, options to purchase 6,263,513 shares and 4,934,554 shares of common stock, respectively, were not included. For the nine months ended November 30, 2023 and 2022, options to purchase 5,732,651 shares and 1,917,727 shares of common stock, respectively, were not included.