Net Income per Share

9 Months Ended

Oct. 31, 2019

Earnings Per Share [Abstract]

Net Income per Share

NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted average common shares and fully vested stock units outstanding. Diluted net income per share is computed by dividing net income by the weighted average common and common equivalent shares outstanding, which includes the shares issuable upon exercise of employee stock options (net of shares assumed purchased with the option proceeds), stock units and restricted stock units outstanding. Performance share awards are included in the diluted calculation based upon what would be issued if the end of the most recent reporting period was the end of the term of the award.

Certain outstanding options and restricted stock units were excluded from the diluted net income per share calculations because their effect would have been anti-dilutive under the treasury stock method. The options and restricted stock units excluded from the diluted net income per share calculation were as follows:

	Three Months Ended		Nine Months Ended
	October 31, 2019	October 31, 2018	October 31, 2019	October 31, 2018
Anti-dilutive options and restricted stock units	101,384	—	21,444	50,699

The computation of earnings per share is presented below:

	Three Months Ended				Nine Months Ended
	October 31, 2019		October 31, 2018		October 31, 2019		October 31, 2018
Numerator:
Net income attributable to Raven Industries, Inc.	$	9,934	$	13,032	$	31,910	$	48,844
Denominator:
Weighted average common shares outstanding	35,785,460		35,952,688		35,893,714		35,890,638
Weighted average fully vested stock units outstanding	128,604		104,649		120,691		98,235
Denominator for basic calculation	35,914,064		36,057,337		36,014,405		35,988,873
Weighted average common shares outstanding	35,785,460		35,952,688		35,893,714		35,890,638
Weighted average fully vested stock units outstanding	128,604		104,649		120,691		98,235
Dilutive impact of stock options and restricted stock units	176,850		414,542		236,222		450,429
Denominator for diluted calculation	36,090,914		36,471,879		36,250,627		36,439,302
Net income per share ─ basic	$	0.28	$	0.36	$	0.89	$	1.36
Net income per share ─ diluted	$	0.28	$	0.36	$	0.88	$	1.34