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Earnings Per Share (Tables) | 3 Months Ended
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May 31, 2024
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, |  |
|  | 2024 |  | 2023 |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 39,602 |  |  | $ | 28,522 |  |  |  |  |
Dividends on Series A Preferred Stock |  | (1,200) |  |  | (3,600) |  |  |  |  |
Redemption premium on Series A Preferred Stock |  | (75,198) |  |  | — |  |  |  |  |
Numerator for basic earnings per share |  | $ | (36,796) |  |  | $ | 24,922 |  |  |  |  |
Dividends on Series A Preferred Stock |  | — |  |  | 3,600 |  |  |  |  |
Numerator for diluted earnings per share |  | $ | (36,796) |  |  | $ | 28,522 |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding for basic earnings per share |  | 26,751 |  |  | 24,940 |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Employee and director stock awards |  | — |  |  | 93 |  |  |  |  |
Series A Convertible Preferred Stock |  | — |  |  | 4,117 |  |  |  |  |
Denominator for diluted earnings per share |  | 26,751 |  |  | 29,150 |  |  |  |  |
Basic earnings (loss) per common share |  | $ | (1.38) |  |  | $ | 1.00 |  |  |  |  |
Diluted earnings (loss) per common share |  | $ | (1.38) |  |  | $ | 0.98 |  |  |  |  |

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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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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