Net Income per Common Share

6 Months Ended

Jul. 31, 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				Six Months Ended
	July 31,				July 31,
	2023		2022		2023		2022
Basic weighted-average common shares outstanding		92,741,888		93,041,310		92,610,499		94,240,412
Effect of dilutive options, performance stock units and restricted stock units		1,486,297		606,904		1,416,451		737,093
Diluted weighted-average shares outstanding		94,228,185		93,648,214		94,026,950		94,977,505

For the three months ended July 31, 2023 and 2022, awards to purchase 40,000 common shares at a price of $46.42 and 205,000 common shares ranging in price from $23.74 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 six months ended July 31, 2023 and 2022, awards to purchase 80,000 common shares ranging in price from $28.47 to $46.42 and 202,500 common shares ranging in price from $23.74 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 July 31, 2023 and July 31, 2022, were 272,554 and 167,500 performance-based equity awards, respectively, because they did not meet the required performance criteria.