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Earnings Per Share
 12 Months Ended
Nov. 30, 2016
Earnings Per Share [Abstract]  
Earnings 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,
 
2016
 
2015
 
2014
Numerator:
 
 
 
 
 
Net income
$
105,615

 
$
84,643

 
$
918,349

Less: Distributed earnings allocated to nonvested restricted stock
(45
)
 
(33
)
 
(26
)
Less: Undistributed earnings allocated to nonvested restricted stock
(508
)
 
(273
)
 
(2,667
)
Numerator for basic earnings per share
105,062

 
84,337

 
915,656

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

 
2,667

 
2,667

Add: Undistributed earnings allocated to nonvested restricted stock
508

 
273

 
2,667

Less: Undistributed earnings reallocated to nonvested restricted stock
(453
)
 
(244
)
 
(2,398
)
Numerator for diluted earnings per share
$
107,784

 
$
87,033

 
$
918,592

Denominator:
 
 
 
 
 
Weighted average shares outstanding — basic
85,706

 
92,054

 
89,265

Effect of dilutive securities:
 
 
 
 
 
Share-based payments
2,170

 
2,401

 
1,647

Convertible senior notes
8,402

 
8,402

 
8,402

Weighted average shares outstanding — diluted
96,278

 
102,857

 
99,314

Basic earnings per share
$
1.23

 
$
.92

 
$
10.26

Diluted earnings per share
$
1.12

 
$
.85

 
$
9.25


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 7.3 million, 8.0 million and 5.2 million shares of common stock were excluded from the diluted earnings per share calculations for 2016, 2015 and 2014, 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 applicable vesting conditions had not been satisfied.