Net Income per Common Share

9 Months Ended

Oct. 31, 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				Nine Months Ended
	October 31,				October 31,
	2022		2021		2022		2021
Basic weighted-average common shares outstanding		92,174,160		98,202,399		93,544,085		98,209,796
Effect of dilutive options, performance stock units and restricted stock units		861,906		1,213,439		778,698		1,237,755
Diluted weighted-average shares outstanding		93,036,066		99,415,838		94,322,783		99,447,551

For the three months ended October 31, 2022 and 2021, awards to purchase 205,000 common shares ranging in price from $23.74 to $46.42 and 160,000 common shares ranging in price from $38.09 to $46.42, 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, 2022 and 2021, awards to purchase 203,333 common shares ranging in price from $23.74 to $46.42 and 173,333 common shares ranging in price from $35.85 to $46.42 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, 2022 and October 31, 2021, were 167,500 and 30,001 performance-based equity awards, respectively, because they did not meet the required performance criteria.