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Earnings per share | 9 Months Ended
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Aug. 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 Ended |  | Nine Months Ended
| August 31, 2021 |  | August 31, 2020 |  | August 31, 2021 |  | August 31, 2020
Net income | $ | 30,976 |  |  | $ | 23,977 |  |  | $ | 63,494 |  |  | $ | 62,061 |
Weighted average shares outstanding | 43,762 |  |  | 45,036 |  |  | 43,896 |  |  | 44,941 |
Dilutive impact from common stock equivalents | 740 |  |  | 328 |  |  | 646 |  |  | 441 |
Diluted weighted average shares outstanding | 44,502 |  |  | 45,364 |  |  | 44,542 |  |  | 45,382 |
Basic earnings per share | $ | 0.71 |  |  | $ | 0.53 |  |  | $ | 1.45 |  |  | $ | 1.38 |
Diluted earnings per share | $ | 0.70 |  |  | $ | 0.53 |  |  | $ | 1.43 |  |  | $ | 1.37 |
We excluded stock awards representing approximately 1,250,000 and 1,241,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2021, respectively, because these awards were anti-dilutive. In the three and nine months ended August 31, 2020, we excluded stock awards representing 1,450,000 shares and 1,216,000 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.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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