Earnings Per Share (Tables)

6 Months Ended

May 31, 2022

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 May 31,				Six Months Ended May 31,
	2022		2021		2022		2021
Numerator:
Net income	$	210,670	$	143,364	$	344,927	$	240,415
Less: Distributed earnings allocated to nonvested restricted stock	(64)		(63)		(129)		(126)
Less: Undistributed earnings allocated to nonvested restricted stock	(957)		(587)		(1,539)		(968)
Numerator for basic earnings per share	209,649		142,714		343,259		239,321
Effect of dilutive securities:
Add: Undistributed earnings allocated to nonvested restricted stock	957		587		1,539		968
Less: Undistributed earnings reallocated to nonvested restricted stock	(931)		(567)		(1,495)		(935)
Numerator for diluted earnings per share	$	209,675	$	142,734	$	343,303	$	239,354
Denominator:
Weighted average shares outstanding — basic	87,858		92,087		88,069		91,904
Effect of dilutive securities:
Share-based payments	2,458		3,292		2,621		3,239
Weighted average shares outstanding — diluted	90,316		95,379		90,690		95,143
Basic earnings per share	$	2.39	$	1.55	$	3.90	$	2.60
Diluted earnings per share	$	2.32	$	1.50	$	3.79	$	2.52