Earnings Per Share ("EPS")

12 Months Ended

Jan. 31, 2017

NOTE 2 — EARNINGS PER SHARE ("EPS")

The Company presents the composition of EPS 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 9 – Employee Benefit Plans) using the treasury stock method. The composition of basic and diluted EPS (in thousands, except per share data) is as follows:



Year ended January 31:	2017		2016		2015
Net income	$	195,095	$	265,736	$	175,172

Weighted average common shares - basic	35,194		35,898		38,172
Effect of dilutive securities:
Equity-based awards	234		199		182
Weighted average common shares - diluted	35,428		36,097		38,354

Earnings per share
Basic	$	5.54	$	7.40	$	4.59
Diluted	$	5.51	$	7.36	$	4.57

For the fiscal year ended January 31, 2017, there were 5,191 shares excluded from the computation of diluted earnings per share because their effect would have been antidilutive. For the fiscal years ended January 31, 2016 and 2015, there were no shares excluded from the computation of diluted earnings per share because their effect would have been antidilutive.