Schedule of Earnings Per Share, Basic and Diluted |
Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | Years Ended November 30, | | 2021 | | 2020 | | 2019 | Numerator: | | | | | | Net income | $ | 564,746 | | | $ | 296,243 | | | $ | 268,775 | | Less: Distributed earnings allocated to nonvested restricted stock | (253) | | | (197) | | | (123) | | Less: Undistributed earnings allocated to nonvested restricted stock | (2,366) | | | (1,329) | | | (1,505) | | Numerator for basic earnings per share | 562,127 | | | 294,717 | | | 267,147 | | Effect of dilutive securities: | | | | | | Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes | — | | | — | | | 541 | | Add: Undistributed earnings allocated to nonvested restricted stock | 2,366 | | | 1,329 | | | 1,505 | | Less: Undistributed earnings reallocated to nonvested restricted stock | (2,286) | | | (1,278) | | | (1,412) | | Numerator for diluted earnings per share | $ | 562,207 | | | $ | 294,768 | | | $ | 267,781 | | | | | | | | Denominator: | | | | | | Weighted average shares outstanding — basic | 90,401 | | | 90,464 | | | 87,996 | | Effect of dilutive securities: | | | | | | Share-based payments | 3,186 | | | 3,622 | | | 4,415 | | Convertible senior notes | — | | | — | | | 1,427 | | Weighted average shares outstanding — diluted | 93,587 | | | 94,086 | | | 93,838 | | Basic earnings per share | $ | 6.22 | | | $ | 3.26 | | | $ | 3.04 | | Diluted earnings per share | $ | 6.01 | | | $ | 3.13 | | | $ | 2.85 | |
|