Earnings Per Share (Tables)

9 Months Ended

Aug. 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 August 31,				Nine Months Ended August 31,
	2022		2021		2022		2021
Numerator:
Net income	$	255,329	$	150,097	$	600,256	$	390,512
Less: Distributed earnings allocated to nonvested restricted stock	(62)		(62)		(190)		(188)
Less: Undistributed earnings allocated to nonvested restricted stock	(1,150)		(625)		(2,685)		(1,594)
Numerator for basic earnings per share	254,117		149,410		597,381		388,730
Effect of dilutive securities:
Add: Undistributed earnings allocated to nonvested restricted stock	1,150		625		2,685		1,594
Less: Undistributed earnings reallocated to nonvested restricted stock	(1,119)		(604)		(2,610)		(1,540)
Numerator for diluted earnings per share	$	254,148	$	149,431	$	597,456	$	388,784
Denominator:
Weighted average shares outstanding — basic	86,487		90,076		87,538		91,290
Effect of dilutive securities:
Share-based payments	2,370		3,188		2,537		3,222
Weighted average shares outstanding — diluted	88,857		93,264		90,075		94,512
Basic earnings per share	$	2.94	$	1.66	$	6.82	$	4.26
Diluted earnings per share	$	2.86	$	1.60	$	6.63	$	4.11