Net Income per Common Share

3 Months Ended

Apr. 30, 2022

11. 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,
	2022		2021
Basic weighted-average common shares outstanding		95,479,927		98,108,245
Effect of dilutive options, performance stock units and restricted stock units		867,284		1,213,975
Diluted weighted-average shares outstanding		96,347,211		99,322,220

For the three months ended April 30, 2022 and 2021, awards to purchase 200,000 common shares ranging in price from $28.47 to $46.42 and 200,000 common shares ranging in price from $35.85 to $46.42, 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, 2022 and April 30, 2021, were 197,501 and 161,254 performance-based equity awards, respectively, because they did not meet the required performance criteria.