Earnings Per Share

9 Months Ended

Nov. 30, 2022

Note 16 - 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 stock units, performance stock units, restricted stock awards and performance restricted stock awards and other stock-based awards. Anti-dilutive securities are not included in the computation of diluted earnings per share under the treasury stock method. See Note 6 to these condensed consolidated financial statements for more information regarding stock-based awards.

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


	Three Months Ended November 30,		Nine Months Ended November 30,
(in thousands)	2022	2021	2022	2021
Weighted average shares outstanding, basic	23,991	24,129	23,942	24,193
Incremental shares from share-based compensation arrangements	87	270	144	268
Weighted average shares outstanding, diluted	24,078	24,399	24,086	24,461



Anti-dilutive securities	53	20	45	16