XML 21 R9.htm IDEA: XBRL DOCUMENT
v3.23.2

Earnings Per Share | 6 Months Ended
--- | ---
May 31, 2023
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):
| Three Months Ended May 31, |  | Six Months Ended May 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: |  |  |  |  |  |  |
Net income | $ | 164,442 |  |  | $ | 210,670 |  |  | $ | 289,942 |  |  | $ | 344,927 |
Less: Distributed earnings allocated to nonvested restricted stock | (91) |  |  | (64) |  |  | (176) |  |  | (129) |
Less: Undistributed earnings allocated to nonvested restricted stock | (1,119) |  |  | (957) |  |  | (1,866) |  |  | (1,539) |
Numerator for basic earnings per share | 163,232 |  |  | 209,649 |  |  | 287,900 |  |  | 343,259 |
Effect of dilutive securities: |  |  |  |  |  |  |
Add: Undistributed earnings allocated to nonvested restricted stock | 1,119 |  |  | 957 |  |  | 1,866 |  |  | 1,539 |
Less: Undistributed earnings reallocated to nonvested restricted stock | (1,085) |  |  | (931) |  |  | (1,811) |  |  | (1,495) |
Numerator for diluted earnings per share | $ | 163,266 |  |  | $ | 209,675 |  |  | $ | 287,955 |  |  | $ | 343,303 |
| Three Months Ended May 31, |  | Six Months Ended May 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding — basic | 81,764 |  |  | 87,858 |  |  | 82,607 |  |  | 88,069 |
Effect of dilutive securities: |  |  |  |  |  |  |
Share-based payments | 2,542 |  |  | 2,458 |  |  | 2,534 |  |  | 2,621 |
Weighted average shares outstanding — diluted | 84,306 |  |  | 90,316 |  |  | 85,141 |  |  | 90,690 |
Basic earnings per share | $ | 2.00 |  |  | $ | 2.39 |  |  | $ | 3.49 |  |  | $ | 3.90 |
Diluted earnings per share | $ | 1.94 |  |  | $ | 2.32 |  |  | $ | 3.38 |  |  | $ | 3.79 |
We compute earnings per share using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at May 31, 2023 or 2022. For the three-month and six-month periods ended May 31, 2023 and 2022, no outstanding stock options were excluded from the diluted earnings per share calculations. Contingently issuable shares associated with outstanding performance-based restricted stock units (each, a “PSU”) were not included in the basic earnings per share calculations for the periods presented, as the applicable vesting conditions had not been satisfied.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration