Earnings Per Share
 6 Months Ended
May. 31, 2015
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
 
Six Months Ended
 
May 31,
2015
 
May 31,
2014
 
May 31,
2015
 
May 31,
2014
Net income
$
5,769

 
$
12,799

 
$
4,798

 
$
23,899

Weighted average shares outstanding
50,342

 
51,049

 
50,505

 
51,271

Dilutive impact from common stock equivalents
743

 
624

 
719

 
648

Diluted weighted average shares outstanding
51,085

 
51,673

 
51,224

 
51,919

Basic earnings per share
$
0.11

 
$
0.25

 
$
0.10

 
$
0.47

Diluted earnings per share
$
0.11

 
$
0.25

 
$
0.09

 
$
0.46



We excluded stock awards representing approximately 247,000 shares and 250,000 shares of common stock from the calculation of diluted earnings per share in the three and six months ended May 31, 2015, respectively, because these awards were anti-dilutive. In the three and six months ended May 31, 2014, we excluded stock awards representing 501,000 shares and 399,000 shares of common stock, respectively, from the calculation of diluted earnings per share.