Earnings Per Share (Tables)

9 Months Ended

Aug. 31, 2021

Earnings Per Share, Basic and Diluted [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts):

	Three Months Ended August 31,				Nine Months Ended August 31,
	2021		2020		2021		2020
Numerator:
Net income	$	150,097	$	78,415	$	390,512	$	190,152
Less: Distributed earnings allocated to nonvested restricted stock	(62)		(42)		(188)		(129)
Less: Undistributed earnings allocated to nonvested restricted stock	(625)		(360)		(1,594)		(875)
Numerator for basic earnings per share	149,410		78,013		388,730		189,148
Effect of dilutive securities:
Add: Undistributed earnings allocated to nonvested restricted stock	625		360		1,594		875
Less: Undistributed earnings reallocated to nonvested restricted stock	(604)		(346)		(1,540)		(843)
Numerator for diluted earnings per share	$	149,431	$	78,027	$	388,784	$	189,180
Denominator:
Weighted average shares outstanding — basic	90,076		90,535		91,290		90,292
Effect of dilutive securities:
Share-based payments	3,188		3,570		3,222		3,496
Weighted average shares outstanding — diluted	93,264		94,105		94,512		93,788
Basic earnings per share	$	1.66	$	.86	$	4.26	$	2.09
Diluted earnings per share	$	1.60	$	.83	$	4.11	$	2.02