Reconciliation of Weighted Average Shares Outstanding

9 Months Ended

Jan. 31, 2022

Reconciliation of Weighted Average Shares Outstanding [Abstract]

Reconciliation of Weighted Average Shares Outstanding

Note 8 — Reconciliation of Weighted Average Shares Outstanding

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

	Three Months Ended January 31,				Nine Months Ended January 31,
	2022		2021		2022		2021
Weighted average shares outstanding		55,701		55,984		55,789		55,968
Less: Unvested restricted shares		—		—		—		(1	)
Shares used for basic earnings per share		55,701		55,984		55,789		55,967
Dilutive effect of unvested restricted stock units and other stock awards		688		348		692		263
Shares used for diluted earnings per share		56,389		56,332		56,481		56,230
Antidilutive options to purchase Class A common shares, restricted shares, warrants to purchase Class A common shares, and contingently issuable restricted stock which are excluded from the table above		977		1,281		863		1,323

The shares associated with performance-based stock awards are considered contingently issuable shares and will be included in the diluted weighted average number of common shares outstanding when they have met the performance conditions, and when their effect is dilutive.

We included contingently issuable shares using the treasury stock method for our PSU awards in the diluted weighted average number of common shares outstanding based on the number of contingently issuable shares that would be issued assuming the end of our reporting period was the end of the relevant PSU award contingency period. The calculation of diluted weighted average shares outstanding related to performance-based stock awards was nominal in the three and nine months ended January 31, 2022.