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				Nine Months Ended
	October 31,				October 31,
	2017		2016		2017		2016
Basic weighted-average common shares outstanding		109,667,224		116,829,912		113,113,597		117,087,696
Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units		433,030		563,798		318,770		365,309
Diluted weighted-average shares outstanding		110,100,254		117,393,710		113,432,367		117,453,005

For the three months ended October 31, 2017 and 2016, awards to purchase 319,883 common shares ranging in price from $28.10 to $46.02 and 556,375 common shares ranging in price from $35.41 to $46.02, respectively, were excluded from the calculation of diluted net income per common share because the impact would be anti-dilutive. For the nine months ended October 31, 2017 and 2016, awards to purchase 1,016,733 common shares ranging in price from $25.60 to $46.02 and 857,331 common shares ranging in price from $28.10 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 October 31, 2017 and 2016 were 2,610,295 and 2,442,345 performance-based equity awards, respectively, because they did not meet the required performance criteria.