Earnings Per Share (Tables)

6 Months Ended

Aug. 31, 2023

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended August 31,				Six Months Ended August 31,
	2023		2022		2023		2022
Numerator:
Net income from continuing operations	$	28,332	$	25,120	$	56,854	$	40,485
Dividends on preferred stock	(3,600)		(1,040)		(7,200)		(1,040)
Numerator for basic earnings per share continuing operations	$	24,732	$	24,080	$	49,654	$	39,445
After-tax interest expense for Convertible Notes	—		2,006		—		2,554
Dividends on preferred stock	3,600		1,040		7,200		1,040
Numerator for diluted earnings per share continuing operations	$	28,332	$	27,126	$	56,854	$	43,039
Net loss from discontinued operations	$	—	$	(82,690)	$	—	$	(73,978)
Net income (loss) available to common shareholders	$	24,732	$	(58,610)	$	49,654	$	(34,533)
After-tax interest expense for Convertible Notes	—		2,006		—		2,554
Dividends on preferred stock	3,600		1,040		7,200		1,040
Numerator for diluted earnings per share—net income (loss) available to common shareholders	$	28,332	$	(55,564)	$	56,854	$	(30,939)
Denominator:
Weighted average shares outstanding for basic earnings per share	25,054		24,836		24,997		24,772
Effect of dilutive securities:
Employee and director stock awards	39		106		82		172
Convertible Notes	—		2,953		—		1,902
Series A Convertible Preferred Stock	4,117		1,164		4,117		582
Denominator for diluted earnings per share	29,210		29,059		29,196		27,428
Basic earnings (loss) per share
Earnings per common share from continuing operations	$	0.99	$	0.97	$	1.99	$	1.59
Loss per common share from discontinued operations	$	—	$	(3.33)	$	—	$	(2.99)
Earnings (loss) per common share	$	0.99	$	(2.36)	$	1.99	$	(1.39)
Diluted earnings (loss) per share
Earnings per common share from continuing operations	$	0.97	$	0.93	$	1.95	$	1.57
Loss per common share from discontinued operations	$	—	$	(2.85)	$	—	$	(2.70)
Earnings (loss) per common share	$	0.97	$	(1.91)	$	1.95	$	(1.13)