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Earnings Per Share | 3 Months Ended
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May 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per ShareBasic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by giving effect to the potential dilution that could occur if stock awards vested and were converted into common shares during the period. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):
|  | Three Months Ended May 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 24,077 |  |  | $ | 22,337 |  |  |  |  |
After-tax interest expense for Convertible Notes |  | 547 |  |  | — |  |  |  |  |
Numerator for diluted earnings per share |  | $ | 24,624 |  |  | $ | 22,337 |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding for basic earnings per share |  | 24,709 |  |  | 25,051 |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Employee and director stock awards |  | 161 |  |  | 219 |  |  |  |  |
Convertible Notes |  | 805 |  |  | — |  |  |  |  |
Denominator for diluted earnings per share |  | 25,675 |  |  | 25,270 |  |  |  |  |
Earnings per share basic and diluted: |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 0.97 |  |  | $ | 0.89 |  |  |  |  |
Diluted earnings per share |  | $ | 0.96 |  |  | $ | 0.88 |  |  |  |  |
For the three months ended May 31, 2022 and 2021, 81,647 and 154,259 shares, respectively, were excluded from the calculation of diluted earnings per share because the effect would be antidilutive. These shares could be dilutive in future periods.

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- 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 http://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 http://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 http://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 http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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