EARNINGS PER SHARE

9 Months Ended

Jul. 31, 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
	July 31, 2015			July 31, 2014
	(in thousands except per share amounts)
Net Income	$	50,881		$	76,080
Distributed and undistributed (earnings) to unvested restricted stock	(829		)	(2,056		)
Distributed and undistributed earnings to common shareholders—Basic	$	50,052		$	74,024
Weighted average shares outstanding—Basic	22,047			22,448
Weighted average shares outstanding—Diluted	22,047			22,448
Earnings per common share—Basic	$	2.27		$	3.30
Earnings per common share—Diluted	$	2.27		$	3.30

	Nine months ended
	July 31, 2015			July 31, 2014
	(in thousands except per share amounts)
Net Income	$	188,630		$	155,939
Distributed and undistributed (earnings) to unvested restricted stock	(3,882		)	(4,267		)
Distributed and undistributed earnings to common shareholders—Basic	$	184,748		$	151,672
Weighted average shares outstanding—Basic	22,307			22,437
Weighted average shares outstanding—Diluted	22,307			22,437
Earnings per common share—Basic	$	8.28		$	6.76
Earnings per common share—Diluted	$	8.28		$	6.76