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Earnings Per Share
 6 Months Ended
May 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):

 
Three Months Ended
 
Six Months Ended
 
May 31,
2017
 
May 31,
2016
 
May 31,
2017
 
May 31,
2016
Net income
$
10,341

 
$
7,275

 
$
9,816

 
$
10,491

Weighted average shares outstanding
48,221

 
49,873

 
48,477

 
50,341

Dilutive impact from common stock equivalents
269

 
481

 
285

 
556

Diluted weighted average shares outstanding
48,490

 
50,354

 
48,762

 
50,897

Basic earnings per share
$
0.21

 
$
0.15

 
$
0.20

 
$
0.21

Diluted earnings per share
$
0.21

 
$
0.14

 
$
0.20

 
$
0.21



We excluded stock awards representing approximately 941,000 shares and 519,000 shares of common stock from the calculation of diluted earnings per share in the three and six months ended May 31, 2017, respectively, because these awards were anti-dilutive. In the three and six months ended May 31, 2016, we excluded stock awards representing 450,000 shares and 491,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive.