Earnings per Share

12 Months Ended

Feb. 29, 2020

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, including the dilutive effects of stock options, SARs and nonvested shares. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:



(In thousands)	2020	2019	2018
Basic earnings per share - weighted average common shares outstanding	26,474	27,802	28,534
Weighted average effect of nonvested share grants and assumed exercise of stock options	255	280	270
Diluted earnings per share - weighted average common shares and potential common shares outstanding	26,729	28,082	28,804
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares	99	134	141