Net Income per Common Share

3 Months Ended

Apr. 30, 2023

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,
	2023		2022
Basic weighted-average common shares outstanding		92,474,688		95,479,927
Effect of dilutive options, performance stock units and restricted stock units		1,346,604		867,284
Diluted weighted-average shares outstanding		93,821,292		96,347,211

For the three months ended April 30, 2023 and 2022, awards to purchase 120,000 common shares ranging in price from $28.47 to $46.42 and 200,000 common shares ranging in price from $28.47 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, 2023 and April 30, 2022, were 272,554 and 197,501 performance-based equity awards, respectively, because they did not meet the required performance criteria.