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Net Income Per Common Share
 6 Months Ended
Jul. 31, 2011
Net Income Per Common Share  
Net Income Per Common Share

9. Net Income per Common Share

The following is a reconciliation of the weighted average shares outstanding used for the computation of basic and diluted net income per common share:

 

    Three Months Ended July 31,     Six Months Ended July 31,  
    2011     2010     2011     2010  

Basic weighted average shares outstanding

     158,581,618        168,908,598        160,436,550        168,880,803   

Effect of dilutive options, restricted stock and performance shares

     2,162,125        3,417,398        2,524,195        3,692,182   
 

 

 

    

 

 

    

 

 

    

 

 

  

Diluted weighted average shares outstanding

     160,743,743        172,325,996        162,960,745        172,572,985   
 

 

 

    

 

 

    

 

 

    

 

 

  

For the three months ended July 31, 2011 and 2010, awards to purchase 4,448,250 common shares with an exercise price range of $30.93 to $39.58 and awards to purchase 1,250,650 common shares with an exercise price range of $37.35 to $39.58, respectively, were outstanding but were not included in the Company's computation of diluted weighted average common shares and common share equivalents outstanding because their effect would have been anti-dilutive. Furthermore, awards to purchase 2,890,900 and 1,091,400 common shares were outstanding for the six months ended July 31, 2011 and 2010, respectively, but were not included in the Company's computation because their effect would have been anti-dilutive. The exercise price of the awards range from $30.93 to $39.58 and $37.35 to $39.58 for the six months ended July 31, 2011 and 2010, respectively.