Net Earnings Per Share

3 Months Ended

Nov. 30, 2022

Earnings Per Share [Abstract]

Net Earnings Per Share

Note 3 – Net Earnings per Share

Basic earnings per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings per share is calculated on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, restricted stock unit awards and other dilutive securities.

The following table shows the computation of basic and diluted net earnings per share for the three months ended November 30, 2022 and 2021:

	Three months ended
($ and shares in thousands, except per share amounts)	November 30, 2022		November 30, 2021
Numerator:
Net earnings	$	18,217	$	7,901
Denominator:
Weighted average shares outstanding		10,989		10,927
Diluted effect of stock awards		84		99
Weighted average shares outstanding assuming    dilution		11,073		11,026
Basic net earnings per share	$	1.66	$	0.72
Diluted net earnings per share	$	1.65	$	0.72

Certain stock options and restricted stock units were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive. Performance stock units are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied. The number of securities excluded from the computation of earnings per share because their effect would have been anti-dilutive was not significant for the three months ended November 30, 2022 and 2021.