Earnings Per Share (Notes)

12 Months Ended

Feb. 28, 2017

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



	Year Ended
	2017		2016		2015
	(In thousands, except per share data)
Numerator:
Net income for basic and diluted earnings per common share	$	60,921	$	76,790	$	64,943
Denominator:
Denominator for basic earnings per common share–weighted average shares	25,965		25,800		25,676
Effect of dilutive securities:
Employee and director stock awards	132		137		102
Denominator for diluted earnings per common share	26,097		25,937		25,778
Earnings per share basic and diluted:
Basic earnings per common share	$	2.35	$	2.98	$	2.53
Diluted earnings per common share	$	2.33	$	2.96	$	2.52

For fiscal 2017 and 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 were excluded from the computation of diluted earnings per share for fiscal 2015 as the effect would be anti-dilutive.