Earnings Per Share (Notes)

9 Months Ended

Oct. 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 4 – Stock-Based Compensation) using the treasury stock method. The composition of basic and diluted EPS is as follows:



	Three months ended October 31,				Nine months ended October 31,
	2015		2014		2015		2014
	(In thousands, except per share data)

Net income	$	41,900	$	41,700	$	169,589	$	94,495

Weighted average common shares - basic	35,214		38,253		36,174		38,212
Effect of dilutive securities:
Equity based awards	183		180		180		164
Weighted average common shares - diluted	35,397		38,433		36,354		38,376

Net income per share:
Basic	$	1.19	$	1.09	$	4.69	$	2.47
Diluted	$	1.18	$	1.09	$	4.66	$	2.46

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