Three Months Ended

Nine Months Ended

July 31,

July 31,

(In thousands, except per share data)

2024

2023

2024

2023

Numerator:

Net income

$

72,919

$

55,764

$

147,659

$

108,626

Less: preferred stock dividends

(2,669

)

(2,669

)

(8,007

)

(8,007

)

Less: undistributed earnings allocated to participating securities

(1,548

)

(3,578

)

(4,660

)

(7,780

)

Numerator for basic earnings per share

$

68,702

$

49,517

$

134,992

$

92,839

Plus: undistributed earnings allocated to participating securities

1,548

3,578

4,660

7,780

Less: undistributed earnings reallocated to participating securities

(1,556

)

(3,582

)

(4,698

)

(7,801

)

Numerator for diluted earnings per share

$

68,694

$

49,513

$

134,954

$

92,818

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,474

6,249

6,476

6,201

Effect of dilutive securities:

Stock-based payments

574

456

572

441

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

7,048

6,705

7,048

6,642

Basic earnings per share

$

10.61

$

7.92

$

20.85

$

14.97

Diluted earnings per share

$

9.75

$

7.38

$

19.15

$

13.97