Earnings Per Share (Tables)

3 Months Ended

May 31, 2024

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 May 31,
	2024		2023
Numerator:
Net income	$	39,602	$	28,522
Dividends on Series A Preferred Stock	(1,200)		(3,600)
Redemption premium on Series A Preferred Stock	(75,198)		—
Numerator for basic earnings per share	$	(36,796)	$	24,922
Dividends on Series A Preferred Stock	—		3,600
Numerator for diluted earnings per share	$	(36,796)	$	28,522
Denominator:
Weighted average shares outstanding for basic earnings per share	26,751		24,940
Effect of dilutive securities:
Employee and director stock awards	—		93
Series A Convertible Preferred Stock	—		4,117
Denominator for diluted earnings per share	26,751		29,150
Basic earnings (loss) per common share	$	(1.38)	$	1.00
Diluted earnings (loss) per common share	$	(1.38)	$	0.98