Presented below is basic and diluted EPS for the three months ended January 31, 2018 and 2017 (in thousands, except per share amounts):



	Three Months Ended January 31,
	2018				2017
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	235,691	$	235,691	$	149,179	$	149,179
Weighted-average Vail Shares outstanding	40,414		40,414		39,888		39,888
Weighted-average Exchangeco Shares outstanding	61		61		162		162
Total Weighted-average shares outstanding	40,475		40,475		40,050		40,050
Effect of dilutive securities	—		1,119		—		1,057
Total shares	40,475		41,594		40,050		41,107
Net income per share attributable to Vail Resorts	$	5.82	$	5.67	$	3.72	$	3.63

The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable upon the exercise of share based awards excluded from the calculation of diluted EPS because the effect of their inclusion would have been anti-dilutive totaled approximately 5,000 and 2,000 for the three months ended January 31, 2018 and 2017, respectively.

Presented below is basic and diluted EPS for the six months ended January 31, 2018 and 2017 (in thousands, except per share amounts):



	Six Months Ended January 31,
	2018				2017
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	207,306	$	207,306	$	86,592	$	86,592
Weighted-average Vail Shares outstanding	40,281		40,281		38,327		38,327
Weighted-average Exchangeco Shares outstanding	62		62		115		115
Total Weighted-average shares outstanding	40,343		40,343		38,442		38,442
Effect of dilutive securities	—		1,346		—		1,087
Total shares	40,343		41,689		38,442		39,529
Net income per share attributable to Vail Resorts	$	5.14	$	4.97	$	2.25	$	2.19

The number of shares issuable upon the exercise of share based awards excluded from the calculation of diluted EPS because the effect of their inclusion would have been anti-dilutive totaled approximately 5,000 and 1,000 for the six months ended January 31, 2018 and 2017, respectively.