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Net Income per Common Share
 6 Months Ended
Jul. 31, 2012
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
July  31,		      Six Months Ended
July 31,		  
     2012      2011      2012      2011  

Basic weighted average shares outstanding

      144,817,752         158,581,618         144,764,072         160,436,550   

Effect of dilutive options, restricted stock and performance shares

      797,054         2,162,125         828,261         2,524,195   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted average shares outstanding

      145,614,806         160,743,743         145,592,333         162,960,745   
  

 

 

     

 

 

     

 

 

     

 

 

  

For the three months ended July 31, 2012 and 2011, awards to purchase 4,529,300 common shares with an exercise price range of $28.49 to $39.58 and awards to purchase 4,448,250 common shares with an exercise price range of $30.93 to $39.58, respectively, were outstanding but were not included in the Company’s computation of diluted weighted average shares outstanding because their effect would have been anti-dilutive. Furthermore, awards to purchase 4,352,475 and 2,890,900 common shares were outstanding for the six months ended July 31, 2012 and 2011, 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 $28.49 to $39.58 and $30.93 to $39.58 for the six months ended July 31, 2012 and 2011, respectively.

Excluded from the calculations of diluted net income per common share, as of July 31, 2012, were 2,775,740 performance based equity awards, since they did not meet the required performance criteria.