Earnings Per Share (Notes)

6 Months Ended

Jul. 31, 2015

NOTE 2 — EARNINGS PER SHARE ("EPS")

The Company reports a dual presentation of basic and diluted EPS. Basic EPS is computed by dividing net income by the weighted average number of shares outstanding during the reported period. Diluted EPS reflects the potential dilution related to equity-based incentives (further discussed in Note 3 – Stock-Based Compensation) using the treasury stock method. The composition of basic and diluted EPS is as follows:



	Three months ended July 31,				Six months ended July 31,
	2015		2014		2015		2014
	(In thousands, except per share data)

Net income	$	76,412	$	39,328	$	127,689	$	52,795

Weighted average common shares - basic	36,506		38,244		36,661		38,191
Effect of dilutive securities:
Equity based awards	109		124		168		151
Weighted average common shares - diluted	36,615		38,368		36,829		38,342

Net income per share:
Basic	$	2.09	$	1.03	$	3.48	$	1.38
Diluted	$	2.09	$	1.03	$	3.47	$	1.38

For the three and six months ended July 31, 2015 and 2014 there were no shares excluded from the computation of diluted earnings per share because their effect would have been antidilutive.