Earnings Per Common Share

6 Months Ended

Feb. 28, 2023

Earnings Per Common Share [Abstract]

Note 9. Earnings per Common Share

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


	Three Months Ended February 28,				Six Months Ended February 28,
	2023		2022		2023		2022
Net income	$	16,526	$	19,508	$	30,523	$	38,063
Less: Net income allocated to
participating securities		(71)		(73)		(125)		(137)
Net income available to common stockholders	$	16,455	$	19,435	$	30,398	$	37,926

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,
	2023		2022		2023		2022
Weighted-average common
shares outstanding, basic		13,583		13,679		13,586		13,773
Weighted-average dilutive securities		25		25		22		31
Weighted-average common
shares outstanding, diluted		13,608		13,704		13,608		13,804

For the three and six months ended February 28, 2023, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 10,734 and 9,103, 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, 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.