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Earnings Per Common Share

6 Months Ended

Feb. 29, 2020

Earnings Per Common Share [Abstract]

Note 10. Earnings per Common Share

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



	Three Months Ended February 29/28,				Six Months Ended February 29/28,
	2020		2019		2020		2019
Net income	$	14,327	$	15,906	$	26,521	$	29,185
Less: Net income allocated to
participating securities		(68)		(94)		(135)		(181)
Net income available to common shareholders	$	14,259	$	15,812	$	26,386	$	29,004

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 February 29/28,				Six Months Ended February 29/28,
	2020		2019		2020		2019
Weighted-average common
shares outstanding, basic		13,712		13,828		13,713		13,837
Weighted-average dilutive securities		25		29		28		32
Weighted-average common
shares outstanding, diluted		13,737		13,857		13,741		13,869

For the three months ended February 29, 2020, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 9,479 were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive. There were no anti-dilutive stock-based equity awards outstanding for the three months ended February 28, 2019. For the six months ended February 29, 2020 and February 28, 2019, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 7,604 and 2,164, respectively, were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive.