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Note 13 - Per Share Calculations | 12 Months Ended
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Oct. 31, 2022
Notes to Financial Statements |
Earnings Per Share [Text Block] | 13. Per Share Calculations Basic and diluted earnings per share for the periods presented below were calculated as follows:
|  | Year Ended October 31, |
(In thousands, except per share data) |  | 2022 |  |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 225,490 |  |  | $ | 607,817 |  |  | $ | 50,928 |
Less: preferred stock dividends |  |  | (10,675 | ) |  |  | - |  |  |  | - |
Less: undistributed earnings allocated to participating securities |  |  | (19,702 | ) |  |  | (57,676 | ) |  |  | (4,652 | )
Numerator for basic earnings per share |  | $ | 195,113 |  |  | $ | 550,141 |  |  | $ | 46,276 |
Plus: undistributed earnings allocated to participating securities |  |  | 19,702 |  |  |  | 57,676 |  |  |  | 4,652 |
Less: undistributed earnings reallocated to participating securities |  |  | (19,717 | ) |  |  | (58,687 | ) |  |  | (4,652 | )
Numerator for diluted earnings per share |  | $ | 195,098 |  |  | $ | 549,130 |  |  | $ | 46,276 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share – weighted average shares outstanding |  |  | 6,437 |  |  |  | 6,287 |  |  |  | 6,189 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Stock-based payments |  |  | 291 |  |  |  | 108 |  |  |  | 395 |
Denominator for diluted earnings per share – weighted-average shares outstanding |  |  | 6,728 |  |  |  | 6,395 |  |  |  | 6,584 |
Basic earnings per share |  | $ | 30.31 |  |  | $ | 87.50 |  |  | $ | 7.48 |
Diluted earnings per share |  | $ | 29.00 |  |  | $ | 85.86 |  |  | $ | 7.03 |
In addition, 26 thousand, 25 thousand and 0.2 million shares related to out-of-the money stock options, which could potentially dilute basic earnings per share in the future, were not included in the computation of diluted earnings per share for the years ended October 31, 2022, 2021 and 2020, respectively, because to do so would have been anti-dilutive for each period.

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