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Net Income Per Share (Tables)
8 Months Ended
Aug. 31, 2015
Earnings Per Share [Abstract]  
Summary of Net Income Per Share

Accordingly, basic and diluted net income per share were the same for each of the three and eight months ended August 31, 2015.

 

 

 

Three Months Ended

 

 

Eight Months Ended

 

 

 

August 31,

 

 

August 31,

 

(in thousands, except per share amounts)

 

2015

 

 

2015

 

Basic net income per share:

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income attributable to Class A shareholders

 

$

1,033

 

 

$

1,033

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Basic weighted-average shares

 

 

20,002

 

 

 

20,002

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.05

 

 

$

0.05

 

 

 

 

 

 

 

 

 

 

Diluted net income per share:

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income attributable to Class A shareholders

 

$

1,033

 

 

$

1,033

 

Add: Additional net income attributable to

   Class A shares due to increased percentage

   ownership in OpCo, net of tax, from the

   conversion of Class B shares

 

 

757

 

 

 

757

 

 

 

$

1,790

 

 

$

1,790

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Basic weighted-average  shares

 

 

20,002

 

 

 

20,002

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Class B shares (1)

 

 

14,413

 

 

 

14,413

 

Diluted weighted-average shares

 

 

34,415

 

 

 

34,415

 

 

 

 

 

 

 

 

 

 

Diluted net income per share

 

$

0.05

 

 

$

0.05

 

 

 

(1)

Up to the amount of OpCo common units held by Sponsors