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Earnings per share
 6 Months Ended
May 31, 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
 
Six Months Ended
 
May 31,
2020
 
May 31,
2019
 
May 31,
2020
 
May 31,
2019
Net income
$
16,968

 
$
8,181

 
$
38,084

 
$
17,583

Weighted average shares outstanding
44,889

 
44,611

 
44,893

 
44,784

Dilutive impact from common stock equivalents
378

 
676

 
498

 
503

Diluted weighted average shares outstanding
45,267

 
45,287

 
45,391

 
45,287

Basic earnings per share
$
0.38

 
$
0.18

 
$
0.85

 
$
0.39

Diluted earnings per share
$
0.37

 
$
0.18

 
$
0.84

 
$
0.39



We excluded stock awards representing approximately 1,538,000 shares and 1,099,000 shares of common stock from the calculation of diluted earnings per share in the three and six months ended May 31, 2020, respectively, because these awards were anti-dilutive. In the three and six months ended May 31, 2019, we excluded stock awards representing 545,000 shares and 728,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive.