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				Nine Months Ended
	August 31, 2018		August 31, 2017		August 31, 2018		August 31, 2017
Net income	$	16,746	$	11,172	$	45,061	$	20,988
Weighted average shares outstanding	45,130		48,071		45,730		48,342
Dilutive impact from common stock equivalents	446		299		650		289
Diluted weighted average shares outstanding	45,576		48,370		46,380		48,631
Basic earnings per share	$	0.37	$	0.23	$	0.99	$	0.43
Diluted earnings per share	$	0.37	$	0.23	$	0.97	$	0.43

We excluded stock awards representing approximately 690,000 shares and 577,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2018, respectively, because these awards were anti-dilutive. In the three and nine months ended August 31, 2017, we excluded stock awards representing 905,000 shares and 648,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive.