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Earnings Per Share | 12 Months Ended
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Nov. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | 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 from continuing operations (in thousands, expect per share data):
| Fiscal Year Ended
| November 30, 2020 |  | November 30, 2019 |  | November 30, 2018
|  |  |  |  | As Adjusted(1)
Net income | $ | 79,722 |  |  | $ | 26,400 |  |  | $ | 49,670 |
Weighted average shares outstanding | 44,886 |  |  | 44,791 |  |  | 45,561 |
Dilutive impact from common stock equivalents | 435 |  |  | 549 |  |  | 574 |
Diluted weighted average shares outstanding | 45,321 |  |  | 45,340 |  |  | 46,135 |
Basic earnings per share | $ | 1.78 |  |  | $ | 0.59 |  |  | $ | 1.09 |
Diluted earnings per share | $ | 1.76 |  |  | $ | 0.58 |  |  | $ | 1.08 |
(1)The Company adopted the accounting standard related to revenue recognition ("ASC 606") effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Summary of Significant Accounting Policies for further information.
We excluded stock awards representing approximately 1,268,000 shares, 932,000 shares, and 602,000 shares of common stock from the calculation of diluted earnings per share in the fiscal years ended November 30, 2020, 2019 and 2018, respectively, because these awards were anti-dilutive.

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