v2.4.0.6
Net Earnings Per Share
 3 Months Ended 9 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Nov. 30, 2011
Net Earnings Per Share [Abstract]        
Net Earnings Per Share    

11.  Net Earnings per Share

 

Basic net earnings per share is computed by dividing net earnings available for basic common shares by the weighted average common shares outstanding during the period.  Diluted net earnings per share is computed by dividing net earnings available for diluted common shares by the sum of weighted average common shares outstanding and dilutive  potential common shares.  For periods with outstanding participating securities, diluted net earnings per share reflects the more dilutive of the “if‑converted” treasury stock method or the two-class method.  For periods with no outstanding participating securities, diluted net earnings per share is calculated using the “if-converted” treasury stock method.  There were no outstanding participating securities during the three months and nine months ended November 30, 2012.

 

Nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and should be included in the computation of net earnings per share pursuant to the two-class method.  Our restricted stock awards are considered participating securities because they contain nonforfeitable rights to dividends and are included in the computation of net earnings per share pursuant to the two-class method.  Nonvested MSUs do not receive nonforfeitable dividend equivalent rights, and therefore, are not considered participating securities.  RSUs are nonparticipating, non-equity instruments, and therefore, are excluded from net earnings per share calculations.

 

Basic and Dilutive Net Earnings Per Share Reconciliations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

Nine Months Ended

 

 

 

November 30

November 30

(In thousands except per share data)

 

 

2012

2011 (1)

2012

2011 (1)

Net earnings

 

 

$
94,681 

 

$
82,110 

 

$
327,063 

 

$
318,764 

 

Less net earnings allocable to restricted stock

 

 

 

 ―

 

 

 ―

 

 

 ―

 

 
160 

 

Net earnings available for basic common shares

 

 

 
94,681 

 

 
82,110 

 

 
327,063 

 

 
318,604 

 

Adjustment for dilutive potential common shares

 

 

 

 ―

 

 

 ―

 

 

 ―

 

 

 ―

 

Net earnings available for diluted common shares

 

 

$
94,681 

 

$
82,110 

 

$
327,063 

 

$
318,604 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

 
228,904 

 

 
226,446 

 

 
228,346 

 

 
226,104 

 

Dilutive potential common shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 
3,210 

 

 
3,337 

 

 
3,199 

 

 
3,622 

 

Stock-settled restricted stock units

 

 

 
542 

 

 
849 

 

 
503 

 

 
803 

 

Weighted average common shares and dilutive

 

 

 

 

 

 

 

 

 

 

 

 

 

 

potential common shares

 

 

 
232,656 

 

 
230,632 

 

 
232,048 

 

 
230,529 

 

Basic net earnings per share

 

 

$
0.41 

 

$
0.36 

 

$
1.43 

 

$
1.41 

 

Diluted net earnings per share

 

 

$
0.41 

 

$
0.36 

 

$
1.41 

 

$
1.38 

 

 

(1)  As discussed in Note 2, fiscal 2012 reflects the revisions to correct our accounting for sale-leaseback transactions.

 

Certain weighted-average options to purchase shares of common stock were outstanding and not included in the calculation of diluted net earnings per share because their inclusion would have been antidilutive.  For the three months ended November 30, 2012 and 2011, weighted average options to purchase 3,794,317 shares and 3,263,335 shares of common stock, respectively, were not included.  For the nine months ended November 30, 2012 and 2011, weighted-average options to purchase 3,833,199 shares and 3,026,729 shares of common stock, respectively, were not included.

 
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 3,794,317 3,263,335 3,833,199 3,026,729