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Net Income per Share
9 Months Ended
Oct. 31, 2020
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period.
Diluted net income per share is computed by dividing net income by the weighted-average shares outstanding, including potentially dilutive shares of common equivalents outstanding during the period. The dilutive effect of potential shares of common stock are determined using the treasury stock method.
The computation of fully diluted net income per share of Class A common stock assumes the conversion from Class B common stock, while the fully diluted net income per share of Class B common stock does not assume the conversion of those shares.
The numerators and denominators of the basic and diluted net income per share computations for our common stock are calculated as follows (in thousands, except per share data):
Three months ended October 31,Nine months ended October 31,
2020201920202019
Class AClass B
Class A
Class B
Class AClass BClass AClass B
Basic
Numerator
Net income, basic$87,262 $9,697 $73,120 $9,125 $249,155 $27,925 $206,862 $28,074 
Denominator
Weighted average shares used in computing net income per share, basic135,892 15,101 131,720 16,437 135,172 15,150 129,845 17,622 
Net income per share, basic$0.64 $0.64 $0.56 $0.56 $1.84 $1.84 $1.59 $1.59 
Diluted
Numerator
Net income, basic$87,262 $9,697 $73,120 $9,125 $249,155 $27,925 $206,862 $28,074 
Reallocation as a result of conversion of Class B to Class A common stock:
Net income, basic9,697 — 9,125 — 27,925 — 28,074 — 
Reallocation of net income to Class B common stock— 5,784 — 4,879 — 15,825 — 13,942 
Net income, diluted$96,959 $15,481 $82,245 $14,004 $277,080 $43,750 $234,936 $42,016 
Denominator
Number of shares used for basic net income per share computation135,892 15,101 131,720 16,437 135,172 15,150 129,845 17,622 
Conversion of Class B to Class A common stock15,101 — 16,437 — 15,150 — 17,622 — 
Effect of potentially dilutive common shares10,718 10,718 10,593 10,593 10,195 10,195 10,657 10,657 
Weighted average shares used in computing net income per share, diluted161,711 25,819 158,750 27,030 160,517 25,345 158,124 28,279 
Net income per share, diluted$0.60 $0.60 $0.52 $0.52 $1.73 $1.73 $1.49 $1.49 
Potential common share equivalents excluded where the inclusion would be anti-dilutive are as follows:
Three months ended October 31,Nine months ended October 31,
2020201920202019
Options and awards to purchase shares not included in the computation of diluted net income per share because their inclusion would be anti-dilutive85,099 1,362,085 997,236 1,037,362