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Earnings Per Share | 12 Months Ended
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Nov. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts):
| Years Ended November 30,
| 2020 |  | 2019 |  | 2018
Numerator: |  |  |  |  |
Net income | $ | 296,243 |  |  | $ | 268,775 |  |  | $ | 170,365 |
Less: Distributed earnings allocated to nonvested restricted stock | (197) |  |  | (123) |  |  | (51) |
Less: Undistributed earnings allocated to nonvested restricted stock | (1,329) |  |  | (1,505) |  |  | (927) |
Numerator for basic earnings per share | 294,717 |  |  | 267,147 |  |  | 169,387 |
Effect of dilutive securities: |  |  |  |  |
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes | — |  |  | 541 |  |  | 3,190 |
Add: Undistributed earnings allocated to nonvested restricted stock | 1,329 |  |  | 1,505 |  |  | 927 |
Less: Undistributed earnings reallocated to nonvested restricted stock | (1,278) |  |  | (1,412) |  |  | (805) |
Numerator for diluted earnings per share | $ | 294,768 |  |  | $ | 267,781 |  |  | $ | 172,699 |
Denominator: |  |  |  |  |
Weighted average shares outstanding — basic | 90,464 |  |  | 87,996 |  |  | 87,773 |
Effect of dilutive securities: |  |  |  |  |
Share-based payments | 3,622 |  |  | 4,415 |  |  | 4,884 |
Convertible senior notes | — |  |  | 1,427 |  |  | 8,402 |
Weighted average shares outstanding — diluted | 94,086 |  |  | 93,838 |  |  | 101,059 |
Basic earnings per share | $ | 3.26 |  |  | $ | 3.04 |  |  | $ | 1.93 |
Diluted earnings per share | $ | 3.13 |  |  | $ | 2.85 |  |  | $ | 1.71 |
In 2020, no outstanding stock options were excluded from the diluted earnings per share calculation. In 2019 and 2018, outstanding stock options to purchase a nominal amount and .8 million shares of common stock, respectively, were excluded from the diluted earnings per share calculations because the effect of their inclusion would be antidilutive. The diluted earnings per share calculations for the years ended November 30, 2019 and 2018 included the dilutive effect of our 1.375% Convertible Senior Notes due 2019 based on the number of days they were outstanding during each period. We repaid these notes at their February 1, 2019 maturity. Contingently issuable shares associated with outstanding PSUs were not included in the basic earnings per share calculations for the periods presented, as the applicable vesting conditions had not been satisfied.

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