Earnings Per Share (Notes)

3 Months Ended

Apr. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

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 (see Note 5 – Stock-Based Compensation for further discussion) using the treasury stock method. The composition of basic and diluted EPS is as follows:

	Three months ended April 30,
	2019		2018
(in thousands, except per share data)
Net income	$	55,400	$	33,699
Weighted average common shares - basic	37,011		38,281
Effect of dilutive securities:
Equity based awards	236		280
Weighted average common shares - diluted	37,247		38,561
Earnings per share:
Basic	$	1.50	$	0.88
Diluted	$	1.49	$	0.87

For the three months ended April 30, 2019 and 2018, there were 322 and 8,439 shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive.