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Net Income Per Share

12 Months Ended

Jul. 31, 2021

NOTE 10 — Net Income Per Share

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


	Year Ended July 31,
(In thousands)	2021	2020	2019
Weighted average common shares outstanding	236,252	233,202	230,489
Effect of dilutive securities	4,038	5,454	9,964
Weighted average common and dilutive potential common shares outstanding	240,290	238,656	240,453

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 4,090,250; 1,575,167; and 3,045,000 options to purchase the Company’s common stock for the years ended July 31, 2021, 2020 and 2019, respectively, because their inclusion would have been anti-dilutive.