Earnings per Share

3 Months Ended

May 31, 2017

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 options to purchase common stock and issued and contingently issuable unvested restricted share units (RSUs) and performance-based restricted share units (PSUs). 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 awards.

The following table presents our basic and diluted shares for the periods shown:

WEIGHTED AVERAGE DILUTED SECURITIES


	Three Months Ended May 31,
(in thousands)	2017	2016
Weighted average shares outstanding, basic	27,076	27,773
Incremental shares from share-based payment arrangements	169	374
Weighted average shares outstanding, diluted	27,245	28,147

Dilutive securities, stock options	253	425
Dilutive securities, unvested or unsettled stock awards	79	333
Antidilutive securities, stock options and unvested or unsettled stock awards	378	143