Net Income per Common Share

3 Months Ended

Apr. 30, 2017

10. 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,
	2017		2016
Basic weighted-average common shares outstanding		116,276,289		117,304,736
Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units		263,016		282,273

Diluted weighted-average shares outstanding		116,539,305		117,587,009

For the three months ended April 30, 2017 and 2016, awards to purchase 1,128,400 common shares ranging in price from $25.60 to $46.02 and 918,000 common shares ranging in price from $29.92 to $46.02, respectively, were excluded from the calculation of diluted net income per common share because the impact would be anti-dilutive.

Excluded from the calculation of diluted net income per common share as of April 30, 2017 and 2016 were 2,941,727 and 4,034,213 performance-based equity awards, respectively, since they did not meet the required performance criteria.