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Earnings per share
 6 Months Ended
May 31, 2021
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 on an interim basis (in thousands, except per share data):
 Three Months EndedSix Months Ended
 May 31, 2021May 31, 2020May 31, 2021May 31, 2020
Net income$13,557 $16,968 $32,518 $38,084 
Weighted average shares outstanding43,818 44,889 43,963 44,893 
Dilutive impact from common stock equivalents654 378 599 498 
Diluted weighted average shares outstanding44,472 45,267 44,562 45,391 
Basic earnings per share$0.31 $0.38 $0.74 $0.85 
Diluted earnings per share$0.30 $0.37 $0.73 $0.84 

We excluded stock awards representing approximately 1,396,000 and 1,237,000 shares of common stock from the calculation of diluted earnings per share in the three and six months ended May 31, 2021, respectively, because these awards were anti-dilutive. In the three and six months ended May 31, 2020, we excluded stock awards representing 1,538,000 shares and 1,099,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive.

In connection with the issuance of the Notes, we entered into Capped Calls (Note 7), which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been antidilutive.