Three Months Ended

Six Months Ended

April 30,

(In thousands, except per share data)

2023

2022

2023

2022

Numerator:

Net income

$

34,146

$

62,435

$

52,862

$

87,243

Less: preferred stock dividends

(2,669

)

(2,669

)

(5,338

)

(5,338

)

Less: undistributed earnings allocated to participating securities

(2,599

)

(5,426

)

(3,983

)

(7,621

)

Numerator for basic earnings per share

$

28,878

$

54,340

$

43,541

$

74,284

Plus: undistributed earnings allocated to participating securities

2,599

5,426

3,983

7,621

Less: undistributed earnings reallocated to participating securities

(2,600

)

(5,427

)

(3,987

)

(7,625

)

Numerator for diluted earnings per share

$

28,877

$

54,339

$

43,537

$

74,280

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,166

6,396

6,176

6,392

Effect of dilutive securities:

Stock-based payments

296

81

287

100

Denominator for diluted earnings per share – weighted-average shares outstanding

6,462

6,477

6,463

6,492

Basic earnings per share

$

4.68

$

8.50

$

7.05

$

11.62

Diluted earnings per share

$

4.47

$

8.39

$

6.74

$

11.44