Net Income Per Share

6 Months Ended

Jan. 31, 2018

NOTE 5 – Net Income Per Share

The table below reconciles basic weighted average shares outstanding to diluted weighted average shares outstanding:



	Three Months Ended January 31,		Six Months Ended January 31,
(In thousands)	2018	2017	2018	2017
Weighted average common shares outstanding	231,478	229,142	231,086	227,288
Effect of dilutive securities - stock options	9,882	6,446	8,990	9,384
Weighted average common and dilutive potential common shares outstanding	241,360	235,588	240,076	236,672

There were no material adjustments to net income required in calculating diluted net income per share. Excluded from the dilutive earnings per share calculation were 2,287,500 and 877,122 shares underlying outstanding stock options for the three months ended January 31, 2018 and 2017, respectively, and 4,478,004 and 1,274,244 for the six months ended January 31, 2018 and 2017, respectively, because their inclusion would have been anti-dilutive.