EARNINGS (LOSS) PER SHARE

Basic and diluted earnings (loss) 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, 2026		August 31, 2025		August 31, 2026		August 31, 2025
Basic earnings (loss) per common share:
Net income (loss)	$	(988,113)	$	88,110	$	(911,248)	$	200,460
Less: net income allocated to participating securities (1)	(1,116)		(4,219)		(3,461)		(9,714)
Net income (loss) attributable to common stockholders	$	(989,229)	$	83,891	$	(914,709)	$	190,746

Weighted-average number of common shares - basic	60,910		62,598		61,011		63,325

Basic earnings (loss) per common share	$	(16.24)	$	1.34	$	(14.99)	$	3.01

Diluted earnings (loss) per common share:
Net income (loss)	$	(988,113)	$	88,110	$	(911,248)	$	200,460
Less: net income allocated to participating securities (1)	(1,116)		(4,214)		(3,461)		(9,709)
Net income (loss) attributable to common stockholders	$	(989,229)	$	83,896	$	(914,709)	$	190,751

Weighted-average number of common shares - basic	60,910		62,598		61,011		63,325
Effect of dilutive securities:
Stock options and certain restricted stock units (2)	—		104		—		54
Weighted-average number of common shares - diluted	60,910		62,702		61,011		63,379

Diluted earnings (loss) per common share	$	(16.24)	$	1.34	$	(14.99)	$	3.01

(1) Restricted stock awards and certain restricted stock units granted to employees by the Company are considered participating securities.