Earnings Per Share (Notes)

12 Months Ended

Feb. 29, 2016

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 restricted stock units, performance share units and stock appreciation rights 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:



	Year Ended
	2016		2015		2014
	(In thousands, except per share data)
Numerator:
Net income for basic and diluted earnings per common share	$	76,790	$	64,943	$	59,597
Denominator:
Denominator for basic earnings per common share–weighted average shares	25,800		25,676		25,514
Effect of dilutive securities:
Employee and Director stock awards	137		102		179
Denominator for diluted earnings per common share	25,937		25,778		25,693
Earnings per share basic and diluted:
Basic earnings per common share	$	2.98	$	2.53	$	2.34
Diluted earnings per common share	$	2.96	$	2.52	$	2.32

For fiscal 2016, the company had no stock appreciation rights that were excluded from the computation of diluted earnings per share. Stock appreciation rights of approximately 80,683 and 113,887 were excluded from the computation of diluted earnings per share for fiscal 2015 and 2014, respectively, as the effect would be anti-dilutive.