Net Earnings Per Share

3 Months Ended

Nov. 30, 2023

Earnings Per Share [Abstract]

Net Earnings Per Share

Note 3 – Net Earnings per Share

Basic earnings per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings per share is calculated on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, restricted stock unit awards and other dilutive securities.

The following table shows the computation of basic and diluted net earnings per share for the three months ended November 30, 2023 and 2022:

	Three months ended
($ and shares in thousands, except per share amounts)	November 30, 2023		November 30, 2022
Numerator:
Net earnings	$	15,019	$	18,217
Denominator:
Weighted average shares outstanding		11,017		10,989
Diluted effect of stock awards		42		84
Weighted average shares outstanding assuming    dilution		11,059		11,073
Basic net earnings per share	$	1.36	$	1.66
Diluted net earnings per share	$	1.36	$	1.65

Certain stock options and restricted stock units were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive. Performance stock units are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied. The number of securities excluded from the computation of earnings per share because their effect would have been anti-dilutive was not significant for the three months ended November 30, 2023 and 2022.