Net Income Per Share (Tables)

3 Months Ended

Feb. 28, 2018

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Income Per Share

The following table presents the calculation of basic and diluted net income per share:

	Three Months Ended
(in thousands, except per share amounts)	February 28, 2018		February 28, 2017
Basic net income per share:
Numerator:
Net income attributable to Class A shareholders	$	9,947	$	861
Denominator:
Basic weighted-average shares	28,089		28,073
Basic net income per share	$	0.35	$	0.03
Diluted net income per share:
Numerator:
Net income attributable to Class A shareholders	$	9,947	$	861
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	5,191		514
	$	15,138	$	1,375
Denominator:
Basic weighted-average shares	28,089		28,073
Effect of dilutive securities:
Class B shares (1)	15,500		15,500
Diluted weighted-average shares	43,589		43,573
Diluted net income per share	$	0.35	$	0.03

(1) Up to the amount of OpCo common units held by Sponsors.