XML 18 R12.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Net Earnings Per Share
 9 Months Ended
May 31, 2024
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 and nine months ended May 31, 2024 and 2023:

 

 

Three months ended

 

 

Nine months ended

 

($ and shares in thousands, except per share amounts)

 

May 31,
2024

 

 

May 31,
2023

 

 

May 31,
2024

 

 

May 31,
2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

20,379

 

 

$

16,881

 

 

$

53,521

 

 

$

53,150

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

10,996

 

 

 

11,008

 

 

 

11,016

 

 

 

11,001

 

Diluted effect of stock awards

 

 

34

 

 

 

44

 

 

 

39

 

 

 

62

 

Weighted average shares outstanding assuming
   dilution

 

 

11,030

 

 

 

11,052

 

 

 

11,055

 

 

 

11,063

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net earnings per share

 

$

1.85

 

 

$

1.53

 

 

$

4.86

 

 

$

4.83

 

Diluted net earnings per share

 

$

1.85

 

 

$

1.53

 

 

$

4.84

 

 

$

4.80

 

 

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 and nine months ended May 31, 2024 and 2023.