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Earnings Per Share
 12 Months Ended
Jan. 31, 2024
Earnings Per Share  
Earnings Per Share

Note 15 - 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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2024

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2023

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2022

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

 

115,907

 

102,236

 

86,282

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Weighted average shares outstanding

 

85,068

 

84,791

 

84,591

Dilutive effect of employee stock options

 

505

 

455

 

482

Dilutive effect of restricted and performance share units

 

1,245

 

1,205

 

1,127

Weighted average common and common equivalent shares outstanding

 

86,818

 

86,451

 

86,200

Earnings per share

 

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​

 

  

Basic

 

1.36

 

1.21

 

1.02

Diluted

 

1.34

 

1.18

 

1.00

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For the years ended January 31, 2024, 2023 and 2022, the application of the treasury stock method excluded 16,562, 589,658 and 267,236 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, 2024, 2023 and 2022, 265,694, 1,315 and 1,000 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, 2024, 2023 and 2022, the application of the treasury stock method excluded PSUs and RSUs of 95,134, nil and nil, 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.