Net Income per Common Share

9 Months Ended

Oct. 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				Nine Months Ended
	October 31,				October 31,
	2023		2022		2023		2022
Basic weighted-average common shares outstanding		92,780,736		92,174,160		92,667,878		93,544,085
Effect of dilutive options, performance stock units and restricted stock units		1,667,640		861,906		1,500,180		778,698
Diluted weighted-average shares outstanding		94,448,376		93,036,066		94,168,058		94,322,783

For the three months ended October 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 nine months ended October 31, 2023 and 2022, awards to purchase 66,667 common shares ranging in price from $28.47 to $46.42 and 203,333 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 October 31, 2023 and October 31, 2022, were 272,554 and 167,500 performance-based equity awards, respectively, because they did not meet the required performance criteria.