Earnings Per Share

12 Months Ended

Oct. 31, 2017

Certain share-based payment awards entitling holders to receive non-forfeitable dividends before vesting are considered participating securities and thus included in the calculation of basic earnings per share, to the extent they are dilutive. These awards are included in the calculation of basic earnings per share under the two-class method. The two-class method allocates earnings for the period between common shareholders and other security holders. The participating awards receiving dividends are allocated the same amount of income as if they were outstanding shares.

The following table presents earnings per share (in thousands).



	For the years ended
	October 31, 2017			October 31, 2016			October 31, 2015
Net income	$	279,745		$	188,961		$	216,001
Distributed and undistributed (earnings) to unvested restricted stock	(4,285		)	(2,930		)	(4,172		)
Distributed and undistributed earnings to common shareholders — Basic	275,460			186,031			211,829
Weighted average shares outstanding — Basic	22,393			22,225			22,243
Weighted average shares outstanding — Diluted	22,393			22,225			22,243
Earnings per common share — Basic	$	12.30		$	8.37		$	9.52
Earnings per common share — Diluted	$	12.30		$	8.37		$	9.52