Earnings Per Common Share

12 Months Ended

Aug. 31, 2020

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note 10. Earnings per Common Share

The table below reconciles net income to net income available to common shareholders (in thousands):

	Fiscal Year Ended August 31,
	2020		2019		2018
Net income	$	60,710	$	55,908	$	65,215
Less: Net income allocated to participating securities		(294)		(333)		(423)
Net income available to common shareholders	$	60,416	$	55,575	$	64,792

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The table below summarizes the weighted-average number of common shares outstanding included in the calculation of basic and diluted EPS (in thousands):

	Fiscal Year Ended August 31,
	2020		2019		2018
Weighted-average common shares outstanding, basic		13,691		13,799		13,929
Weighted-average dilutive securities		28		31		33
Weighted-average common shares outstanding, diluted		13,719		13,830		13,962

For the fiscal years ended August 31, 2020 and 2019,weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 6,172 and 1,082, respectively, were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive. There were no anti-dilutive stock-based equity awards outstanding for the fiscal year ended August 31, 2018.