Earnings per share

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):



	Three Months Ended				Six Months Ended
	May 31, 2018		May 31, 2017		May 31, 2018		May 31, 2017
Net income	$	15,403	$	10,341	$	28,315	$	9,816
Weighted average shares outstanding	45,531		48,221		46,030		48,477
Dilutive impact from common stock equivalents	556		269		751		285
Diluted weighted average shares outstanding	46,087		48,490		46,781		48,762
Basic earnings per share	$	0.34	$	0.21	$	0.62	$	0.20
Diluted earnings per share	$	0.33	$	0.21	$	0.61	$	0.20

We excluded stock awards representing approximately 698,000 shares and 521,000 shares of common stock from the calculation of diluted earnings per share in the three and six months ended May 31, 2018, respectively, because these awards were anti-dilutive. In the three and six months ended May 31, 2017, we excluded stock awards representing 941,000 shares and 519,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive.