Earnings Per Share

12 Months Ended

Feb. 28, 2013

Earnings Per Share

NOTE 4 – EARNINGS PER SHARE

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

	2013		2012		2011
Numerator (thousands):
Net income	$	49,918	$	57,198	$	87,018
Denominator (thousands):
Weighted average shares outstanding		33,225		39,625		39,983
Effect of dilutive securities:
Share-based payment awards		797		663		1,262
Weighted average shares outstanding – assuming dilution		34,022		40,288		41,245
Earnings per share	$	1.50	$	1.44	$	2.18
Earnings per share – assuming dilution	$	1.47	$	1.42	$	2.11

Approximately 3.5 million, 2.5 million and 3.1 million stock options in 2013, 2012 and 2011, 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.