Earnings Per Share ("EPS")

12 Months Ended

Jan. 31, 2020

Earnings Per Share (EPS) [Abstract]

Earnings Per Share

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:	2020		2019		2018
Net income	$	374,500	$	340,580	$	116,641
Weighted average common shares - basic	36,186		38,094		37,957
Effect of dilutive securities:
Equity-based awards	274		223		259
Weighted average common shares - diluted	36,460		38,317		38,216
Earnings per share
Basic	$	10.35	$	8.94	$	3.07
Diluted	$	10.27	$	8.89	$	3.05

For the fiscal year ended January 31, 2020, there were no shares excluded from the computation of diluted earnings per share because their effect would have been antidilutive. For the fiscal years ended January 31, 2019 and 2018 there were 21,008 and 3,017 shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive.