Earnings (Loss) Per Share

12 Months Ended

Feb. 28, 2011

Earnings (Loss) Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 4 – EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of earnings (loss) per share and earnings (loss) per share-assuming dilution:

	2011		2010		2009
Numerator (thousands):
Net income (loss)	$	87,018	$	81,574	$	(227,759	)
Denominator (thousands):
Weighted average shares outstanding		39,983		39,468		46,544
Effect of dilutive securities:
Stock options and other		1,262		692		–
Weighted average shares outstanding – assuming dilution		41,245		40,160		46,544
Earnings (loss) per share	$	2.18	$	2.07	$	(4.89	)
Earnings (loss) per share — assuming dilution	$	2.11	$	2.03	$	(4.89	)

Approximately 3.1 million and 5.7 million stock options, in 2011 and 2010, respectively, were excluded from the computation of earnings per share-assuming dilution because the options’ exercise prices were greater than the average market price of the common shares during the respective years. For 2009, all options outstanding (totaling approximately 6.7 million) were excluded from the computation of earnings per share-assuming dilution, as the effect would have been antidilutive due to the net loss in the period. Had the Corporation reported income for the year, approximately 6.0 million stock options outstanding during the period would have been excluded from the computation of earnings per share-assuming dilution because the options’ exercise prices were greater than the average market price of the common shares during the year.