Earnings Per Share (Notes)

12 Months Ended

Feb. 29, 2020

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 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 for fiscal year 2020, 2019 and 2018 (in thousands, except per share data):



	2020		2019		2018
Numerator:
Net income for basic and diluted earnings per common share	$	48,234	$	51,208	$	45,169
Denominator:
Denominator for basic earnings per common share–weighted average shares	26,191		26,038		25,970
Effect of dilutive securities:
Employee and director stock awards	90		69		66
Denominator for diluted earnings per common share	26,281		26,107		26,036
Earnings per share basic and diluted:
Basic earnings per common share	$	1.84	$	1.97	$	1.74
Diluted earnings per common share	$	1.84	$	1.96	$	1.73

For both fiscal 2020 and 2019, approximately 0.1 million employee equity awards were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive. For fiscal 2018, no such equity awards were excluded from the computation of diluted earnings per share.