XML 66 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Earnings Per Share
 3 Months Ended
Feb. 29, 2020
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
 
February 29,
2020
 
February 28,
2019
Net income
$
21,116

 
$
9,402

Weighted average shares outstanding
44,897

 
44,956

Dilutive impact from common stock equivalents
618

 
330

Diluted weighted average shares outstanding
45,515

 
45,286

Basic earnings per share
$
0.47

 
$
0.21

Diluted earnings per share
$
0.46

 
$
0.21



We excluded stock awards representing approximately 661,000 shares and 911,000 shares of common stock from the calculation of diluted earnings per share in the three months ended February 29, 2020 and February 28, 2019, respectively, because these awards were anti-dilutive.