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Earnings Per Share
 9 Months Ended
Nov. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
4. Earnings Per Share
Basic earnings per share is based on the weighted average number of common shares outstanding during each period. 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 period.
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):
Three Months Ended November 30,Nine Months Ended November 30,
2025202420252024
Numerator:
Net income$41,075 $33,603 $301,329 $108,624 
Series A Preferred Stock Dividends— — — (1,200)
Redemption premium on Series A Preferred Stock— — — (75,198)
Numerator for diluted earnings per share—net income available to common shareholders$41,075 $33,603 $301,329 $32,226 
Denominator:
Weighted average shares outstanding for basic earnings per share29,963 29,879 29,983 28,819 
Effect of dilutive securities:
Employee and director stock awards235 239 248 257 
Denominator for diluted earnings per share30,198 30,118 30,231 29,076 
Basic earnings per common share$1.37 $1.12 $10.05 $1.12 
Diluted earnings per common share$1.36 $1.12 $9.97 $1.11 
    
For the three months ended November 30, 2025 and 2024, 13.5 thousand and 34.8 thousand shares, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive. For the nine months ended November 30, 2025 and 2024, 21.1 thousand and 56.1 thousand shares, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive. These shares could be dilutive in future periods. For the nine months ended November 30, 2024, all shares related to the Series A Preferred Stock (1.0 million weighted average shares) were excluded from the computation of diluted earnings per share, as their effect would be anti-dilutive.