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Earnings Per Share
 12 Months Ended
Nov. 30, 2019
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,
 
2019
 
2018
 
2017
Numerator:
 
 
 
 
 
Net income
$
268,775

 
$
170,365

 
$
180,595

Less: Distributed earnings allocated to nonvested restricted stock
(123
)
 
(51
)
 
(56
)
Less: Undistributed earnings allocated to nonvested restricted stock
(1,505
)
 
(927
)
 
(1,121
)
Numerator for basic earnings per share
267,147

 
169,387

 
179,418

Effect of dilutive securities:
 
 
 
 
 
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes
541

 
3,190

 
2,654

Add: Undistributed earnings allocated to nonvested restricted stock
1,505

 
927

 
1,121

Less: Undistributed earnings reallocated to nonvested restricted stock
(1,412
)
 
(805
)
 
(979
)
Numerator for diluted earnings per share
$
267,781

 
$
172,699

 
$
182,214

 
 
 
 
 
 

 
Years Ended November 30,
 
2019
 
2018
 
2017
Denominator:
 
 
 
 
 
Weighted average shares outstanding — basic
87,996

 
87,773

 
85,842

Effect of dilutive securities:
 
 
 
 
 
Share-based payments
4,415

 
4,884

 
4,072

Convertible senior notes
1,427

 
8,402

 
8,402

Weighted average shares outstanding — diluted
93,838

 
101,059

 
98,316

Basic earnings per share
$
3.04

 
$
1.93

 
$
2.09

Diluted earnings per share
$
2.85

 
$
1.71

 
$
1.85


The diluted earnings per share calculations for the years ended November 30, 2019, 2018 and 2017 included the dilutive effect of our 1.375% Convertible Senior Notes due 2019 based on the number of days they were outstanding during each period. We repaid these notes at their February 1, 2019 maturity. In 2019, outstanding stock options to purchase a nominal amount of common stock were excluded from the diluted earnings per share calculation because the effect of their inclusion would be antidilutive. In 2018 and 2017, outstanding stock options to purchase .8 million and 1.6 million shares of common stock, respectively, were excluded from the diluted earnings per share calculations because the effect of their inclusion in each case 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.