Earnings Per Share (Notes)

12 Months Ended

Feb. 28, 2014

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

Basic earnings per share is based on the weighted average number of shares outstanding during each year. Diluted earnings per share were similarly computed but have been adjusted for the dilutive effect of the weighted average number of stock options, stock appreciation rights and restricted stock units outstanding. The shares and earnings per share were adjusted to reflect our two for one stock split effected in the form of a share dividend approved by the Board of Directors on June 28, 2012, and paid on July 30, 2012. All share data has been retroactively restated.

The following table sets forth the computation of basic and diluted earnings per share:

	2014		2013		2012
	(In thousands, except share and per share amounts)
Numerator:
Net income for basic and diluted earnings per common share	$	59,597	$	60,456	$	40,736
Denominator:
Denominator for basic earnings per common share–weighted average shares	25,514,387		25,320,147		25,131,754
Effect of dilutive securities:
Employee and Director stock awards	179,081		240,447		230,366
Denominator for diluted earnings per common share	25,693,468		25,560,594		25,362,120
Earnings per share basic and diluted:
Basic earnings per common share	$	2.34	$	2.39	$	1.62
Diluted earnings per common share	$	2.32	$	2.37	$	1.61

Stock appreciation rights of approximately 113,887 for fiscal year 2014 were excluded from the computation of diluted earnings per share as the effect would be anti-dilutive. There were zero stock options or stock appreciation rights outstanding with exercise prices greater than the average market price of common shares for fiscal 2013 or fiscal 2012.