EARNINGS PER SHARE

6 Months Ended

Apr. 30, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Certain share-based payment awards entitling holders to receive non-forfeitable dividends before vesting are considered participating securities and thus are included in the calculation of basic earnings per share, to the extent they are dilutive. These awards are included in the calculation of basic earnings per share under the two-class method. The two-class method allocates earnings for the period between common shareholders and other security holders. The participating awards receiving dividends are allocated the same amount of income as if they were vested shares.

The following table presents earnings per share.

	Three months ended
	April 30, 2015			April 30, 2014
	(in thousands except per share amounts)
Net Income	$	71,246		$	50,988
Distributed and undistributed (earnings) to unvested restricted stock	(1,388		)	(1,390		)
Distributed and undistributed earnings to common shareholders—Basic	$	69,858		$	49,598
Weighted average shares outstanding—Basic	22,318			22,441
Weighted average shares outstanding—Diluted	22,318			22,441
Earnings per common share—Basic	$	3.13		$	2.21
Earnings per common share—Diluted	$	3.13		$	2.21

	Six months ended
	April 30, 2015			April 30, 2014
	(in thousands except per share amounts)
Net Income	$	137,749		$	79,859
Distributed and undistributed (earnings) to unvested restricted stock	(3,124		)	(2,198		)
Distributed and undistributed earnings to common shareholders—Basic	$	134,625		$	77,661
Weighted average shares outstanding—Basic	22,438			22,432
Weighted average shares outstanding—Diluted	22,438			22,432
Earnings per common share—Basic	$	6.00		$	3.46
Earnings per common share—Diluted	$	6.00		$	3.46