Earnings Per Share (Notes)

3 Months Ended

Apr. 30, 2016

NOTE 2 — EARNINGS PER SHARE ("EPS")

The Company presents the computation of earnings per share on a basic and diluted basis. 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 April 30,
	2016		2015
(in thousands, except per share data)
Net income	$	33,373	$	51,277

Weighted average common shares - basic	35,127		36,822
Effect of dilutive securities:
Equity based awards	243		214
Weighted average common shares - diluted	35,370		37,036

Earnings per share:
Basic	$	0.95	$	1.39
Diluted	$	0.94	$	1.38

For the three months ended April 30, 2016 and 2015, there were 200,383 and zero shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive.