Reconciliation of Weighted Average Shares Outstanding and Share Repurchases

3 Months Ended

Jul. 31, 2017

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases [Abstract]

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases

5. Reconciliation of Weighted Average Shares Outstanding and Share Repurchases

A reconciliation of the shares used in the computation of earnings per share follows (in thousands):

	For the Three Months Ended January 31,
	2017	2016
Weighted average shares outstanding	57,188	57,665
Less: Unearned restricted shares	(172)	(227)
Shares used for basic earnings per share	57,016	57,438
Dilutive effect of stock options and other stock awards	693	738
Shares used for diluted earnings per share	57,709	58,176

Since their inclusion in the calculation of diluted earnings per share would have been anti-dilutive, options to purchase 292,852 and 331,575 shares of Class A Common Stock have been excluded for the three months ended July 31, 2017 and July 31, 2016, respectively. In addition, for the three months ended July 31, 2016, 44,650 unearned restricted shares have been excluded as their inclusion would have been antidilutive. There were no restricted shares excluded for the three months ended July 31, 2017. During the three months ended July 31, 2017 and 2016, the Company repurchased 265,158 and 221,305 shares of common stock at an average price of $52.86 and $51.01, respectively.