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Earnings Per Common Share
3 Months Ended
Feb. 29, 2020
Earnings Per Share [Abstract]  
Earnings Per Common Share

 

 

NOTE 9—EARNINGS PER COMMON SHARE:  

The following table sets forth the computation of basic and diluted earnings per common share for the periods indicated:

 

 

 

Three Months Ended

 

 

 

 

February 29, 2020

 

 

February 28, 2019

 

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

Net income

 

$

122,584

 

 

$

87,106

 

 

Less: net income allocated to participating securities(1)

 

 

(1,487

)

 

 

(789

)

 

Net income attributable to common stockholders

 

$

121,097

 

 

$

86,317

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of common shares - basic

 

 

50,815

 

 

 

50,706

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

2.38

 

 

$

1.70

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

Net income

 

$

122,584

 

 

$

87,106

 

 

Less: net income allocated to participating securities(1)

 

 

(1,478

)

 

 

(786

)

 

Net income attributable to common stockholders

 

$

121,106

 

 

$

86,320

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of common shares - basic

 

 

50,815

 

 

 

50,706

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options and restricted stock units

 

 

417

 

 

 

221

 

 

Weighted-average number of common shares - diluted

 

 

51,232

 

 

 

50,927

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

2.36

 

 

$

1.69

 

 

Anti-dilutive shares excluded from diluted earnings per share calculation

 

 

15

 

 

 

151

 

 

 

 

(1)

Restricted stock awards granted to employees by the Company are considered participating securities.