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Earnings Per Share (Tables) | 3 Months Ended
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May 31, 2023
Earnings Per Share [Abstract] |
Computation of basic and diluted earnings per share | 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, |  |
|  | 2023 |  | 2022 |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 28,522 |  |  | $ | 15,353 |  |  |  |  |
Dividends on preferred stock |  | (3,600) |  |  | — |  |  |  |  |
Numerator for basic earnings per share continuing operations |  | 24,922 |  |  | 15,353 |  |  |  |  |
After-tax interest expense for Convertible Notes |  | — |  |  | 547 |  |  |  |  |
Dividends on preferred stock |  | 3,600 |  |  | — |  |  |  |  |
Numerator for diluted earnings per share continuing operations |  | $ | 28,522 |  |  | $ | 15,900 |  |  |  |  |
Net income from discontinued operations |  | $ | — |  |  | $ | 8,724 |  |  |  |  |
Net income available to common shareholders |  | $ | 24,922 |  |  | $ | 24,077 |  |  |  |  |
After-tax interest expense for Convertible Notes |  | — |  |  | 547 |  |  |  |  |
Dividends on preferred stock |  | 3,600 |  |  | — |  |  |  |  |
Numerator for diluted earnings per share—net income available to common shareholders |  | $ | 28,522 |  |  | $ | 24,624 |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding for basic earnings per share |  | 24,940 |  |  | 24,709 |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Employee and director stock awards |  | 93 |  |  | 161 |  |  |  |  |
Convertible Notes |  | — |  |  | 805 |  |  |  |  |
Series A Convertible Preferred Stock |  | 4,117 |  |  | — |  |  |  |  |
Denominator for diluted earnings per share |  | 29,150 |  |  | 25,675 |  |  |  |  |
Basic earnings per share |  |  |  |  |  |  |  |
Earnings per common share from continuing operations |  | $ | 1.00 |  |  | $ | 0.62 |  |  |  |  |
Earnings per common share from discontinued operations |  | $ | — |  |  | $ | 0.35 |  |  |  |  |
Earnings per common share |  | $ | 1.00 |  |  | $ | 0.97 |  |  |  |  |
Diluted earnings per share |  |  |  |  |  |  |  |
Earnings per common share from continuing operations |  | $ | 0.98 |  |  | $ | 0.62 |  |  |  |  |
Earnings per common share from discontinued operations |  | $ | — |  |  | $ | 0.34 |  |  |  |  |
Earnings per common share |  | $ | 0.98 |  |  | $ | 0.96 |  |  |  |  |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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