Net Income per Common Share

9 Months Ended

Oct. 31, 2014

9. Net Income per Common Share

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


	Three Months Ended October 31,				Nine Months Ended October 31,
	2014		2013		2014		2013
Basic weighted-average common shares outstanding		134,267,259		147,405,769		138,201,670		146,918,029
Effect of dilutive stock options, stock appreciation rights, performance stock units and restricted stock units		1,681,195		2,111,377		1,745,173		2,314,580

Diluted weighted-average common shares outstanding		135,948,454		149,517,146		139,946,843		149,232,609

For the three months ended October 31, 2014 and 2013, awards to purchase 879,600 common shares with an exercise price range of $37.02 to $46.02 and 204,500 common shares with an exercise price range of $39.40 to $46.02, respectively, were outstanding but were not included in the Company’s computation of diluted weighted-average common shares outstanding because their effect would have been anti-dilutive. For the nine months ended October 31, 2014 and 2013, awards to purchase 1,003,647 common shares with an exercise price range of $35.12 to $46.02 and 101,500 common shares with an exercise price range of $39.40 to $46.02, respectively, were outstanding but were not included in the Company’s computation of diluted weighted-average common shares outstanding because their effect would have been anti-dilutive.

Excluded from the calculation of diluted net income per common share as of October 31, 2014 and 2013, were 2,200,434 and 1,751,100 performance-based equity awards, respectively, since they did not meet the required performance criteria.

- Definition

The entire disclosure for earnings per share.

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