Reconciliation of Weighted Average Shares Outstanding and Share Repurchases

6 Months Ended

Oct. 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):

	Three Months Ended October 31,						Six Months Ended October 31,
	2017			2016			2017			2016

Weighted average shares outstanding		57,013			57,759			57,100			57,717
Less: Unearned restricted shares		(138	)		(221	)		(152	)		(223	)
Shares used for basic earnings per share		56,875			57,538			56,948			57,494
Dilutive effect of stock options and other stock awards		679			-			685			765
Shares used for diluted earnings per share		57,554			57,538			57,633			58,259

Since their inclusion in the calculation of diluted earnings per share would have been anti-dilutive, options to purchase 284,787 and 315,425 shares of Class A Common Stock have been excluded for the six months ended October 31, 2017 and 2016, respectively. In addition, for the six months ended October 31, 2016, 42,783 unearned restricted shares have been excluded as their inclusion would have been antidilutive. There were 26,740 unearned restricted shares excluded for the three months ended October 31, 2017. During the three months ended October 31, 2017 and 2016, the Company repurchased 285,599 and 193,955 shares of common stock at an average price of $53.37 and $51.56, respectively. During the six months ended October 31, 2017 and 2016, the Company repurchased 550,757 and 415,260 shares of common stock at an average price of $53.12 and $51.27, respectively.