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Earnings Per Share
 12 Months Ended
Nov. 30, 2015
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings Per Share
Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts):
 
Years Ended November 30,
 
2015
 
2014
 
2013
Numerator:
 
 
 
 
 
Net income
$
84,643

 
$
918,349

 
$
39,963

Less: Distributed earnings allocated to nonvested restricted stock
(33
)
 
(26
)
 
(24
)
Less: Undistributed earnings allocated to nonvested restricted stock
(273
)
 
(2,667
)
 
(90
)
Numerator for basic earnings per share
84,337

 
915,656

 
39,849

Effect of dilutive securities:
 
 
 
 
 
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes
2,667

 
2,667

 
2,230

Add: Undistributed earnings allocated to nonvested restricted stock
273

 
2,667

 
90

Less: Undistributed earnings reallocated to nonvested restricted stock
(244
)
 
(2,398
)
 
(81
)
Numerator for diluted earnings per share
$
87,033

 
$
918,592

 
$
42,088

Denominator:
 
 
 
 
 
Weighted average shares outstanding — basic
92,054

 
89,265

 
82,630

Effect of dilutive securities:
 
 
 
 
 
Share-based payments
2,401

 
1,647

 
1,885

Convertible senior notes
8,402

 
8,402

 
7,044

Weighted average shares outstanding — diluted
102,857

 
99,314

 
91,559

Basic earnings per share
$
.92

 
$
10.26

 
$
.48

Diluted earnings per share
$
.85

 
$
9.25

 
$
.46


As discussed in Note 13. Notes Payable, in 2013, we issued the 1.375% Convertible Senior Notes due 2019 that, from issuance, have been convertible into shares of our common stock at a conversion rate of 36.5297 shares for each $1,000 principal amount of the notes. Outstanding stock options to purchase 8.0 million, 5.2 million and 5.2 million shares of common stock were excluded from the diluted earnings per share calculations for 2015, 2014 and 2013, respectively, because the effect of their inclusion would be antidilutive. Contingently issuable shares associated with outstanding PSUs were not included in the basic earnings per share calculations for the periods presented as the vesting conditions have not been satisfied.