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Earnings Per Share
 12 Months Ended
Jan. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

Note 16 - Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (number of shares in thousands):

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January 31,

    

January 31,

    

January 31,

Year Ended

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2023

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2022

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2021

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Net income for purposes of calculating basic and diluted earnings per share

 

102,236

 

86,282

 

52,100

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Weighted average shares outstanding

 

84,791

 

84,591

 

84,360

Dilutive effect of employee stock options

 

455

 

482

 

358

Dilutive effect of restricted and performance share units

 

1,205

 

1,127

 

1,038

Weighted average common and common equivalent shares outstanding

 

86,451

 

86,200

 

85,756

Earnings per share

 

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Basic

 

1.21

 

1.02

 

0.62

Diluted

 

1.18

 

1.00

 

0.61

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For the years ended January 31, 2023, 2022 and 2021, the application of the treasury stock method excluded 589,658, 267,236 and 1,750 stock options, respectively, from the calculation of diluted EPS as the assumed proceeds from the unrecognized stock-based compensation expense of such stock options that are attributed to future service periods made such stock options anti-dilutive.

For the years ended January 31, 2023, 2022 and 2021, 1,315, 1,000 and 71,161 stock options, respectively, were excluded from the calculation of diluted EPS as those options had an exercise price greater than or equal to the average market value of our common shares during the applicable periods and their inclusion would have been anti-dilutive.

Additionally, for the years ended January 31, 2023, 2022 and 2021, the application of the treasury stock method excluded PSUs and RSUs of nil, nil and 43,002, respectively, from the calculation of diluted EPS as the unrecognized stock-based compensation expense of such PSUs and RSUs that are attributed to future service periods made such PSUs and RSUs anti-dilutive.