Earnings Per Share (Notes)

3 Months Ended

Apr. 30, 2017

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



	Three months ended April 30,
	2017		2016
(in thousands, except per share data)
Net income	$	30,654	$	33,373

Weighted average common shares - basic	37,251		35,127
Effect of dilutive securities:
Equity based awards	217		243
Weighted average common shares - diluted	37,468		35,370

Earnings per share:
Basic	$	0.82	$	0.95
Diluted	$	0.82	$	0.94

For the three months ended April 30, 2017 and 2016, there were zero and 200,383 shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive.