Net Income per Common Share

9 Months Ended

Oct. 31, 2015

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,
	2015		2014		2015		2014
Basic weighted-average common shares outstanding		123,442,931		134,267,259		127,478,092		138,201,670
Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units		282,650		1,681,195		1,028,863		1,745,173

Diluted weighted-average shares outstanding		123,725,581		135,948,454		128,506,955		139,946,843

For the three months ended October 31, 2015 and 2014, awards to purchase 999,916 common shares with an exercise price range of $30.50 to $46.02 and 879,600 common shares with an exercise price range of $37.02 to $46.02, respectively, were excluded from the Company’s computation of diluted weighted-average shares outstanding because their effect would have been anti-dilutive. For the nine months ended October 31, 2015 and 2014, awards to purchase 553,208 common shares with an exercise price range of $30.50 to $46.02 and 1,003,647 common shares with an exercise price range of $35.12 to $46.02, respectively, 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 October 31, 2015 and 2014 were 3,702,743 and 2,200,434 performance-based equity awards, respectively, since they did not meet the required performance criteria.