Earnings per Share

3 Months Ended

May. 31, 2015

Note 4 – Earnings per Share

We compute basic earnings per share using the weighted average number of shares of common stock outstanding during the period. We compute diluted earnings per share using the weighted average number of shares of common stock outstanding plus the effect of dilutive securities. Dilutive securities at any given point in time may consist of outstanding stock options, issued and contingently issuable unvested restricted share units, and other performance-based share awards. Options for common stock are excluded from the computation of diluted earnings per share if their effect is antidilutive. See Note 15 to these consolidated condensed financial statements for more information regarding share-based payment arrangements.

For the periods covered below, the basic and diluted shares are as follows:

WEIGHTED AVERAGE DILUTED SECURITIES

(in thousands)


	Three Months Ended May 31,
	2015	2014
Weighted average shares outstanding, basic	28,520	29,105
Incremental shares from share-based payment arrangements	568	511
Weighted average shares outstanding, diluted	29,088	29,616

Dilutive securities, stock options	798	728
Dilutive securities, unvested or unsettled share awards	294	231
Antidilutive securities, stock options	197	233