Earnings per share

12 Months Ended

Jan. 31, 2020

Earnings per share

Earnings per share

2.Earnings per share

Earnings per share is computed as follows (in thousands except per share data):

	2019
			Weighted
	Net		Average	Per Share
	Income		Shares	Amount
Basic earnings per share	$	1,712,555	256,553	$	6.68
Effect of dilutive share-based awards			1,500
Diluted earnings per share	$	1,712,555	258,053	$	6.64

	2018
			Weighted
	Net		Average	Per Share
	Income		Shares	Amount
Basic earnings per share	$	1,589,472	265,155	$	5.99
Effect of dilutive share-based awards			950
Diluted earnings per share	$	1,589,472	266,105	$	5.97

	2017
			Weighted
	Net		Average	Per Share
	Income		Shares	Amount
Basic earnings per share	$	1,538,960	272,751	$	5.64
Effect of dilutive share-based awards			611
Diluted earnings per share	$	1,538,960	273,362	$	5.63

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share is determined based on the dilutive effect of share-based awards using the treasury stock method.

Share-based awards that were outstanding at the end of the respective periods, but were not included in the computation of diluted earnings per share because the effect of exercising such options would be antidilutive, were 0.3 million, 0.8 million and 2.1 million in 2019, 2018 and 2017, respectively.