Earnings Per Common Share

6 Months Ended

Feb. 28, 2022

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 February 28,				Six Months Ended February 28,
	2022		2021		2022		2021
Net income	$	19,508	$	17,191	$	38,063	$	40,814
Less: Net income allocated to
participating securities		(73)		(64)		(137)		(174)
Net income available to common shareholders	$	19,435	$	17,127	$	37,926	$	40,640

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 28,				Six Months Ended February 28,
	2022		2021		2022		2021
Weighted-average common
shares outstanding, basic		13,679		13,700		13,773		13,687
Weighted-average dilutive securities		25		29		31		31
Weighted-average common
shares outstanding, diluted		13,704		13,729		13,804		13,718

For the three and six months ended February 28, 2022, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 9,280 and 7,212, respectively, were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive. For the three and six months ended February 28, 2021, there were no anti-dilutive stock-based equity awards outstanding.

‎