Net Income per Common Share

9 Months Ended

Oct. 31, 2023

Net Income per Common Share

Net Income per Common Share

NOTE 7 – NET INCOME PER COMMON SHARE

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards outstanding during the period. Approximately 8,200 and 59,200 shares of common stock have been excluded from the diluted net income per share calculation for the three and nine months ended October 31, 2023. Approximately 310,600 and 258,600 shares of common stock have been excluded from the diluted net income per share calculation for the three and nine months ended October 31, 2022. All share-based payments outstanding that vest based on the achievement of performance conditions, and for which the respective performance conditions have not been achieved, have been excluded from the diluted per share calculation.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2023		2022		2023		2022
	(In thousands, except share and per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	127,640	$	61,103	$	147,314	$	128,056
Basic net income per share:
Basic common shares		45,723		47,488		45,904		47,832
Basic net income per share	$	2.79	$	1.29	$	3.21	$	2.68
Diluted net income per share:
Basic common shares		45,723		47,488		45,904		47,832
Dilutive restricted stock unit awards and stock options		837		987		1,088		1,034
Diluted common shares		46,560		48,475		46,992		48,866
Diluted net income per share	$	2.74	$	1.26	$	3.13	$	2.62