Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 3 Months Ended
Nov. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share

Note 9. Earnings Per Share

The reconciliations between basic and diluted earnings per share are as follows (in thousands, except per share amounts):

 

     Three Months Ended November 30,  
     2011      2010  

Numerator:

      

Net earnings

   $ 37,174       $ 25,890   

Plus: 2% Convertible Notes financing costs, net of taxes

      511         456   
  

 

 

     

 

 

  

Net earnings for diluted earnings per share

    $ 37,685       $ 26,346   
  

 

 

     

 

 

  

Denominator:

      

Weighted average common shares outstanding for basic earnings per share

      68,421         68,000   

Net effect of dilutive securities - equity based compensation plans

      764         928   

Net effect of 2% Convertible Notes based on the if-converted method

      5,957         5,948   
  

 

 

     

 

 

  

Weighted average common and equivalent shares outstanding for diluted earnings per share

      75,142         74,876   
  

 

 

     

 

 

  
     

Basic Earnings Per Share:

    $ 0.54       $ 0.38   

Diluted Earnings Per Share:

    $ 0.50       $ 0.35   

At November 30, 2011 and 2010, outstanding share based awards to acquire 3,856,000 and 3,200,000 shares of common stock were not included in the Company's computation of earnings per share because the effect would have been anti-dilutive.