Earnings Per Share

12 Months Ended

Aug. 31, 2020

EARNINGS PER SHARE

A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share ("EPS") computations is as follows:


(in thousands, except per share data)	Net Income (Numerator)		Weighted Average Common Shares (Denominator)	Per Share Amount
For the year ended August 31, 2020
Basic EPS
Income available to common stockholders	$	372,938	37,936	$	9.83
Diluted EPS
Dilutive effect of stock options and restricted stock			710
Income available to common stockholders plus assumed conversions	$	372,938	38,646	$	9.65
For the year ended August 31, 2019
Basic EPS
Income available to common stockholders	$	352,790	38,144	$	9.25
Diluted EPS
Dilutive effect of stock options and restricted stock			729
Income available to common stockholders plus assumed conversions	$	352,790	38,873	$	9.08
For the year ended August 31, 2018
Basic EPS
Income available to common stockholders	$	267,085	38,733	$	6.90
Diluted EPS
Dilutive effect of stock options and restricted stock			644
Income available to common stockholders plus assumed conversions	$	267,085	39,377	$	6.78

Dilutive potential common shares consist of stock options and unvested performance-based awards. There were 1,750 stock options excluded from the calculation of diluted EPS as of August 31, 2020, because their inclusion would have been anti-dilutive. There were 11,481 stock options excluded from the calculation of diluted EPS as of August 31, 2019.

Performance-based awards are omitted from the calculation of diluted EPS until it is determined that the performance criteria has been met at the end of the reporting period. As of August 31, 2020, there were 35,666 performance-based awards excluded from the calculation of diluted EPS. There were no performance-based awards excluded from the calculation of diluted EPS as of August 31, 2019.