Earnings Per Share
 6 Months Ended
May 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is calculated using the Company's weighted-average outstanding common shares. Diluted earnings per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when the Company recognizes a net loss, it excludes the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an anti-dilutive effect.
The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended May 31, 2018 and 2019, respectively (in thousands, except share and per share amounts):
 
Three Months Ended
 
Six Months Ended
 
May 31, 2018
 
May 31, 2019
 
May 31, 2018
 
May 31, 2019
Numerator:
 
 
 
 
 
 
 
Net income
$
16,670

 
$
15,073

 
$
186,016

 
$
36,628

Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding
44,158,611

 
43,441,350

 
44,177,342

 
43,431,283

Effect of dilutive securities
11,070

 
7,759

 
12,334

 
7,721

Diluted weighted average shares outstanding
44,169,681

 
43,449,109

 
44,189,676

 
43,439,004

 
 
 
 
 
 
 
 
Basic and diluted earnings per share
$
0.38

 
$
0.35

 
$
4.21

 
$
0.84

 
 
 
 
 
 
 
 
Anti-dilutive shares excluded in the computation of diluted earnings per share
41,107

 
18,792

 
47,725

 
18,792