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Earnings Per Share
 9 Months Ended
Aug. 31, 2015
Earnings Per Share, Basic and Diluted [Abstract]  
Earnings Per Share
Earnings Per Share
Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): 
 
Nine Months Ended August 31,
 
Three Months Ended August 31,
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Net income
$
40,626

 
$
65,548

 
$
23,254

 
$
28,361

Less: Distributed earnings allocated to nonvested restricted stock
(24
)
 
(18
)
 
(7
)
 
(6
)
Less: Undistributed earnings allocated to nonvested restricted stock
(115
)
 
(159
)
 
(63
)
 
(73
)
Numerator for basic earnings per share
40,487

 
65,371

 
23,184

 
28,282

Effect of dilutive securities:
 
 
 
 
 
 
 
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes
2,000

 
2,000

 
667

 
667

Add: Undistributed earnings allocated to nonvested restricted stock
115

 
159

 
63

 
73

Less: Undistributed earnings reallocated to nonvested restricted stock
(104
)
 
(142
)
 
(57
)
 
(66
)
Numerator for diluted earnings per share
$
42,498

 
$
67,388

 
$
23,857

 
$
28,956

 
 
 
 
 
 
 
 
 
Nine Months Ended August 31,
 
Three Months Ended August 31,
 
2015
 
2014
 
2015
 
2014
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding — basic
92,005

 
88,389

 
92,065

 
91,793

Effect of dilutive securities:
 
 
 
 
 
 
 
Share-based payments
1,198

 
1,823

 
1,407

 
1,875

Convertible senior notes
8,402

 
8,402

 
8,402

 
8,402

Weighted average shares outstanding — diluted
101,605

 
98,614

 
101,874

 
102,070

Basic earnings per share
$
.44

 
$
.74

 
$
.25

 
$
.31

Diluted earnings per share
$
.42

 
$
.68

 
$
.23

 
$
.28


We compute earnings per share using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at August 31, 2015 or 2014.
Outstanding stock options to purchase 5.7 million shares of our common stock were excluded from the diluted earnings per share calculations for the three-month and nine-month periods ended August 31, 2015, and outstanding stock options to purchase 5.2 million shares of our common stock were excluded from the diluted earnings per share calculations for the three-month and nine-month periods ended August 31, 2014, because the effect of their inclusion in each case would be antidilutive. Contingently issuable shares associated with outstanding performance-based restricted stock units (each a “PSU”) were not included in the earnings per share calculations for the three-month and nine-month periods ended August 31, 2015 and 2014, as the applicable vesting conditions had not been satisfied.