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Net Income Per Common Share
 3 Months Ended
Apr. 30, 2012
Net Income Per Common Share [Abstract]  
Net Income Per Common Share

8. 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 April 30,  
     2012      2011  

Basic weighted average shares outstanding

      144,709,199         162,407,330   

Effect of dilutive stock options, non-vested shares and stock appreciation rights

      859,468         2,886,264   
  

 

 

     

 

 

  

Diluted weighted average common shares outstanding

      145,568,667         165,293,594   
  

 

 

     

 

 

  

For the three months ended April 30, 2012 and 2011, options to purchase 4,175,650 common shares with an exercise price range of $29.46 to $39.58 and awards to purchase 1,333,550 common shares with an exercise price range of $35.01 to $39.58, respectively, were excluded from the calculation of diluted net income per common share because their effect would have been anti-dilutive.

Excluded from the calculation of diluted net income per common share, as of April 30, 2012, were 2,797,740 performance based equity awards, since they did not meet the required performance criteria.