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
	February 28, 2026		February 28, 2025
Basic earnings per common share:
Net income	$	21,589	$	70,257
Less: net income allocated to participating securities(1)	(1,185)		(3,417)
Net income attributable to common stockholders	$	20,404	$	66,840

Weighted-average number of common shares - basic	61,279		64,037

Basic earnings per common share	$	0.33	$	1.04

Diluted earnings per common share:
Net income	$	21,589	$	70,257
Less: net income allocated to participating securities(1)	(1,185)		(3,416)
Net income attributable to common stockholders	$	20,404	$	66,841

Weighted-average number of common shares - basic	61,279		64,037
Effect of dilutive securities:
Stock options and certain restricted stock units	21		28
Weighted-average number of common shares - diluted	61,300		64,065

Diluted earnings per common share	$	0.33	$	1.04

(1) Restricted stock awards and certain restricted stock units granted to employees by the Company are considered participating securities. For the three months ended February 28, 2026, dividends paid to common stockholders and participating securities exceeded net income. As a result, the allocation to participating securities in the three months ended February 28, 2026 represents dividends paid to participating securities as participating securities do not participate in undistributed losses.