Earnings Per Common Share

9 Months Ended

May 31, 2016

Earnings Per Common Share [Abstract]

Note 9. Earnings per Common Share

The table below reconciles net income to net income available to common shareholders (in thousands):



	Three Months Ended May 31,				Nine Months Ended May 31,
	2016		2015		2016		2015
Net income	$	12,665	$	10,965	$	38,396	$	33,084
Less: Net income allocated to
participating securities		(84)		(68)		(246)		(198)
Net income available to common shareholders	$	12,581	$	10,897	$	38,150	$	32,886

The table below summarizes the weighted-average number of common shares outstanding included in the calculation of basic and diluted EPS (in thousands):



	Three Months Ended May 31,				Nine Months Ended May 31,
	2016		2015		2016		2015
Weighted-average common
shares outstanding, basic		14,306		14,546		14,365		14,616
Weighted-average dilutive securities		43		69		48		69
Weighted-average common
shares outstanding, diluted		14,349		14,615		14,413		14,685

For the three months ended May 31, 2016, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 1,090 were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive. For the three months ended May 31, 2015, there were no anti-dilutive stock-based equity awards outstanding.

For the nine months ended May 31, 2016 and 2015, weighted-average stock-based equity awards outstanding that are non-participating securities in the amounts of 6,001 and 1,782, respectively, were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive.