Net Income per Share

9 Months Ended

Oct. 31, 2020

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, 2020	October 31, 2019	October 31, 2020	October 31, 2019
Anti-dilutive options and restricted stock units	263,505	101,384	265,377	21,444

The computation of earnings per share is presented below:

	Three Months Ended				Nine Months Ended
	October 31, 2020		October 31, 2019		October 31, 2020		October 31, 2019
Numerator:
Net income attributable to Raven Industries, Inc.	$	8,728	$	9,934	$	18,594	$	31,910
Denominator:
Weighted average common shares outstanding	35,849,310		35,785,460		35,828,586		35,893,714
Weighted average fully vested stock units outstanding	151,971		128,604		146,377		120,691
Denominator for basic calculation	36,001,281		35,914,064		35,974,963		36,014,405
Weighted average common shares outstanding	35,849,310		35,785,460		35,828,586		35,893,714
Weighted average fully vested stock units outstanding	151,971		128,604		146,377		120,691
Dilutive impact of stock options and restricted stock units	150,097		176,850		142,708		236,222
Denominator for diluted calculation	36,151,378		36,090,914		36,117,671		36,250,627
Net income per share ─ basic	$	0.24	$	0.28	$	0.52	$	0.89
Net income per share ─ diluted	$	0.24	$	0.28	$	0.51	$	0.88