Earnings Per Share

12 Months Ended

Nov. 30, 2021

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 from continuing operations (in thousands, expect per share data):


	Fiscal Year Ended
	November 30, 2021		November 30, 2020		November 30, 2019
Net income	$	78,420	$	79,722	$	26,400
Weighted average shares outstanding	43,916		44,886		44,791
Dilutive impact from common stock equivalents	704		435		549
Diluted weighted average shares outstanding	44,620		45,321		45,340
Basic earnings per share	$	1.79	$	1.78	$	0.59
Diluted earnings per share	$	1.76	$	1.76	$	0.58

We excluded stock awards representing approximately 1,232,000 shares, 1,268,000 shares, and 932,000 shares of common stock from the calculation of diluted earnings per share in the fiscal years ended November 30, 2021, 2020 and 2019, respectively, because these awards were anti-dilutive.