Net Earnings Per Share

6 Months Ended

Aug. 31, 2019

Earnings Per Share [Abstract]

Net Earnings Per Share

Net Earnings Per Share

Basic net earnings per share is computed by dividing net earnings available for basic common shares by the weighted average number of shares of common stock outstanding.  Diluted net earnings per share is computed by dividing net earnings available for diluted common shares by the sum of weighted average number of shares of common stock outstanding and dilutive potential common stock.   Diluted net earnings per share is calculated using the “if-converted” treasury stock method.

Basic and Dilutive Net Earnings Per Share Reconciliations

	Three Months Ended				Six Months Ended
	August 31				August 31
(In thousands except per share data)	2019		2018		2019		2018
Net earnings	$	233,599	$	220,890	$	500,343	$	459,546
Weighted average common shares outstanding	165,354		176,284		165,839		177,211
Dilutive potential common shares:
Stock options	1,579		1,462		1,289		1,194
Stock-settled stock units and awards	339		454		330		406
Weighted average common shares and dilutive potential common shares	167,272		178,200		167,458		178,811
Basic net earnings per share	$	1.41	$	1.25	$	3.02	$	2.59
Diluted net earnings per share	$	1.40	$	1.24	$	2.99	$	2.57

Certain options to purchase shares of common stock were outstanding and not included in the calculation of diluted net earnings per share because their inclusion would have been antidilutive.  On a weighted average basis, for the three months ended August 31, 2019 and 2018, options to purchase 1,288,413 shares and 2,210,917 shares of common stock, respectively, were not included. For the six months ended August 31, 2019 and 2018, options to purchase 1,096,811 shares and 3,805,873 shares of common stock, respectively, were not included.