Earnings Per Share

6 Months Ended

Feb. 28, 2021

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 three months ended February 28, 2021
Basic EPS
Income available to common stockholders	$	96,643	37,916	$	2.55
Diluted EPS
Dilutive effect of stock options and restricted stock			704
Income available to common stockholders plus assumed conversions	$	96,643	38,620	$	2.50
For the three months ended February 29, 2020
Basic EPS
Income available to common stockholders	$	88,686	37,875	$	2.34
Diluted EPS
Dilutive effect of stock options and restricted stock			701
Income available to common stockholders plus assumed conversions	$	88,686	38,576	$	2.30
For the six months ended February 28, 2021
Basic EPS
Income available to common stockholders	$	197,849	37,961	$	5.21
Diluted EPS
Dilutive effect of stock options and restricted stock			697
Income available to common stockholders plus assumed conversions	$	197,849	38,658	$	5.12
For the six months ended February 29, 2020
Basic EPS
Income available to common stockholders	$	182,643	37,927	$	4.82
Diluted EPS
Dilutive effect of stock options and restricted stock			655
Income available to common stockholders plus assumed conversions	$	182,643	38,582	$	4.73

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 for the six months ended February 28, 2021, because their inclusion would have been anti-dilutive. For the six months ended February 29, 2020, the number of stock options excluded from calculation of diluted EPS was 18,065.

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. For the six months ended February 28, 2021, there were 71,275 performance-based awards excluded from the calculation of diluted EPS. For the six months ended February 29, 2020, there were 36,501 performance-based awards excluded from the calculation of diluted EPS.