

	Three Months Ended April 30,
	2019				2018
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	292,134	$	292,134	$	256,252	$	256,252
Weighted-average Vail Shares outstanding	40,198		40,198		40,379		40,379
Weighted-average Exchangeco Shares outstanding	57		57		59		59
Total Weighted-average shares outstanding	40,255		40,255		40,438		40,438
Effect of dilutive securities	—		765		—		1,107
Total shares	40,255		41,020		40,438		41,545
Net income per share attributable to Vail Resorts	$	7.26	$	7.12	$	6.34	$	6.17

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 54,000 and 5,000 for the three months ended April 30, 2019 and 2018, respectively.

Presented below is basic and diluted EPS for the nine months ended April 30, 2019 and 2018 (in thousands, except per share amounts):



	Nine Months Ended April 30,
	2019				2018
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	390,688	$	390,688	$	463,558	$	463,558
Weighted-average Vail Shares outstanding	40,307		40,307		40,313		40,313
Weighted-average Exchangeco Shares outstanding	57		57		61		61
Total Weighted-average shares outstanding	40,364		40,364		40,374		40,374
Effect of dilutive securities	—		837		—		1,267
Total shares	40,364		41,201		40,374		41,641
Net income per share attributable to Vail Resorts	$	9.68	$	9.48	$	11.48	$	11.13

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 48,000 and 5,000 for the nine months ended April 30, 2019 and 2018, respectively.