| Schedule of Earnings Per Share, Basic and Diluted |
Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended May 31, | | Six Months Ended May 31, | | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | Net income | $ | 27,349 | | | $ | 107,883 | | | $ | 60,773 | | | $ | 217,440 | | Less: Distributed earnings allocated to participating securities | (72) | | | (114) | | | (149) | | | (228) | | Less: Undistributed earnings allocated to participating securities | (56) | | | (588) | | | (134) | | | (1,161) | | | Numerator for basic earnings per share | 27,221 | | | 107,181 | | | 60,490 | | | 216,051 | | | Effect of dilutive securities: | | | | | | | | | | | | | | | | Add: Undistributed earnings allocated to participating securities | 56 | | | 588 | | | 134 | | | 1,161 | | Less: Undistributed earnings reallocated to participating securities | (55) | | | (578) | | | (132) | | | (1,139) | | | Numerator for diluted earnings per share | $ | 27,222 | | | $ | 107,191 | | | $ | 60,492 | | | $ | 216,073 | | | | | | | | | | | | | | | | | | | | | | | | | | | Denominator: | | | | | | | | | Weighted average shares outstanding — basic | 61,789 | | | 69,976 | | | 62,214 | | | 70,745 | | | Effect of dilutive securities: | | | | | | | | | Share-based payments | 944 | | | 1,250 | | | 1,005 | | | 1,363 | | | Weighted average shares outstanding — diluted | 62,733 | | | 71,226 | | | 63,219 | | | 72,108 | | | Basic earnings per share | $ | .44 | | | $ | 1.53 | | | $ | .97 | | | $ | 3.05 | | | Diluted earnings per share | $ | .43 | | | $ | 1.50 | | | $ | .96 | | | $ | 3.00 | |
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