Net Earnings Per Share

6 Months Ended

Aug. 31, 2021

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)	2021		2020		2021		2020
Net earnings	$	285,267	$	296,696	$	722,023	$	301,674

Weighted average common shares outstanding	162,966		163,434		163,058		163,053
Dilutive potential common shares:
Stock options	2,271		1,858		2,400		1,193
Stock-settled stock units and awards	406		331		511		334
Weighted average common shares and dilutive potential common shares	165,643		165,623		165,969		164,580

Basic net earnings per share	$	1.75	$	1.82	$	4.43	$	1.85
Diluted net earnings per share	$	1.72	$	1.79	$	4.35	$	1.83

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, 2021 and 2020, options to purchase 912,093 shares and 29,200 shares of common stock, respectively, were not

included. For the six months ended August 31, 2021 and 2020, options to purchase 600,617 shares and 2,061,194 shares of common stock, respectively, were not included.