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Net Income per Common Share
 3 Months Ended
Apr. 30, 2015
Net Income per Common Share

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
April 30,		  
     2015      2014  

Basic weighted-average common shares outstanding

      131,202,740         144,075,666   

Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units

      1,633,404         1,830,878   
  

 

 

     

 

 

  

Diluted weighted-average shares outstanding

   132,836,144      145,906,544   
  

 

 

     

 

 

  

For the three months ended April 30, 2015, awards to purchase 100,000 common shares with an exercise price of $46.02 were excluded from the Company’s computation of diluted weighted-average shares outstanding because their effect would have been anti-dilutive. For the three months ended April 30, 2014, awards to purchase 947,950 common shares with an exercise price range of $37.02 to $46.02 were excluded from the Company’s computation of diluted weighted-average shares outstanding because their effect would have been anti-dilutive.

Excluded from the calculation of diluted net income per common share as of April 30, 2015 and 2014 were 1,939,500 and 1,742,033 performance-based equity awards, respectively, since they did not meet the required performance criteria.