Earnings Per Share ("EPS")

12 Months Ended

Jan. 31, 2019

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 (see Note 10 – Employee Benefit Plans for further discussion) 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:	2019		2018		2017
Net income	$	340,580	$	116,641	$	195,095

Weighted average common shares - basic	38,094		37,957		35,194
Effect of dilutive securities:
Equity-based awards	223		259		234
Weighted average common shares - diluted	38,317		38,216		35,428

Earnings per share
Basic	$	8.94	$	3.07	$	5.54
Diluted	$	8.89	$	3.05	$	5.51

For the fiscal years ended January 31, 2019, 2018 and 2017 there were 21,008, 3,017 and 5,191 shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive.