Earnings Per Share

3 Months Ended

May 31, 2021

Note 15 - Earnings Per Share

We compute basic earnings per share using the weighted average number of shares of common stock outstanding during the period. We compute diluted earnings per share using the weighted average number of shares of common stock outstanding plus the effect of dilutive securities. Dilutive securities at any given point in time may consist of outstanding options to purchase common stock and issued and contingently issuable unvested restricted stock units, performance stock units, restricted stock awards and performance restricted stock awards and other stock based awards. Anti-dilutive securities are not included in the computation of diluted earnings per share under the treasury stock method. See Note 5

to these condensed consolidated financial statements for more information regarding stock-based awards.

The following table presents our weighted average basic and diluted shares outstanding for the periods shown:


	Three Months Ended May 31,
(in thousands)	2021	2020
Weighted average shares outstanding, basic	24,349	25,254
Incremental shares from share-based compensation arrangements	287	143
Weighted average shares outstanding, diluted	24,636	25,397



Anti-dilutive securities	—	262