Basic and diluted earnings per common share (“EPS”) are computed using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security.


	Three Months Ended				Nine Months Ended
	August 31, 2025		August 31, 2024		August 31, 2025		August 31, 2024
Basic earnings per common share:
Net income	$	88,110	$	16,631	$	200,460	$	135,567
Less: net income allocated to participating securities(1)	(4,219)		(559)		(9,714)		(4,873)
Net income attributable to common stockholders	$	83,891	$	16,072	$	190,746	$	130,694

Weighted-average number of common shares - basic	62,598		64,660		63,325		65,196

Basic earnings per common share	$	1.34	$	0.25	$	3.01	$	2.00

Diluted earnings per common share:
Net income	$	88,110	$	16,631	$	200,460	$	135,567
Less: net income allocated to participating securities(1)	(4,214)		(558)		(9,709)		(4,865)
Net income attributable to common stockholders	$	83,896	$	16,073	$	190,751	$	130,702

Weighted-average number of common shares - basic	62,598		64,660		63,325		65,196
Effect of dilutive securities:
Stock options and certain restricted stock units	104		89		54		115
Weighted-average number of common shares - diluted	62,702		64,749		63,379		65,311

Diluted earnings per common share	$	1.34	$	0.25	$	3.01	$	2.00