Earnings Per Share (Notes)

12 Months Ended

Feb. 28, 2021

Basic earnings per share is based on the weighted average number of common shares outstanding during each year. Diluted earnings per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the year. Diluted earnings per share has 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 years 2021, 2020 and 2019 (in thousands, except per share data):


	2021		2020		2019
Numerator:
Net income for basic and diluted earnings per common share	$	39,614	$	48,234	$	51,208
Denominator:
Total weighted average basic shares	25,897		26,191		26,038
Effect of dilutive securities:
Shares applicable to stock-based compensation	148		90		69
Total weighted average diluted shares	26,045		26,281		26,107
Earnings per share:
Basic earnings per share	$	1.53	$	1.84	$	1.97
Diluted earnings per share	$	1.52	$	1.84	$	1.96

For fiscal 2021, 2020 and 2019, approximately 0.2 million, 0.1 million and 0.1 million employee equity awards were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive.