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Net Earnings Per Common Share
 3 Months Ended
Apr. 30, 2016
Net Earnings Per Common Share  
Net Earnings Per Common Share

Note 12.Net Earnings Per Common Share

 

Basic net earnings per common share is computed using the weighted average common shares outstanding during the period. Diluted net earnings per common share is computed by using the weighted average common shares outstanding including the dilutive effect of stock options, shares issued under the KLX LTIP and restricted shares based on an average share price during the period. For the three months ended April 30, 2016 and 2015, approximately 0.2 and 0.1 shares of the Company’s common stock, respectively, were excluded from the determination of diluted earnings per common share because their effect would have been anti-dilutive. The computations of basic and diluted earnings per share for the three months ended April 30, 2016 and 2015 are as follows:

 

 

 

 

 

 

 

 

 

 

 

THREE MONTHS ENDED

 

 

 

APRIL 30, 

 

APRIL 30, 

 

 

 

2016

    

2015

 

Net earnings

 

$
6.2

    

$
17.9

  

(Shares in millions)

 

 

 

 

 

 

 

Basic weighted average common shares

 

 
52.0

 

 
52.2

 

Effect of dilutive securities - Dilutive securities

 

 
0.2

 

 
0.1

 

Diluted weighted average common shares

 

 
52.2

 

 
52.3

 

 

 

 

 

 

 

 

 

Basic net earnings per common share

 

$
0.12

 

$
0.34

 

Diluted net earnings per common share

 

$
0.12

 

$
0.34