EARNINGS PER SHARE Earnings Per Share (Policies)

6 Months Ended

Apr. 30, 2017

EARNINGS PER SHARE

Certain share-based payment awards described in Note 3 - Stock Compensation Plans above 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 tables present earnings per share.



	Three months ended
	April 30, 2017			April 30, 2016
	(in thousands except per share amounts)
Net Income	$	66,943		$	47,602
Distributed and undistributed (earnings) to unvested restricted stock	(1,015		)	(735		)
Distributed and undistributed earnings to common shareholders—Basic	$	65,928		$	46,867
Weighted average shares outstanding—Basic	22,396			22,226
Weighted average shares outstanding—Diluted	22,396			22,226
Earnings per common share—Basic	$	2.94		$	2.11
Earnings per common share—Diluted	$	2.94		$	2.11



	Six months ended
	April 30, 2017			April 30, 2016
	(in thousands except per share amounts)
Net Income	$	90,116		$	58,283
Distributed and undistributed (earnings) to unvested restricted stock	(1,399		)	(919		)
Distributed and undistributed earnings to common shareholders—Basic	$	88,717		$	57,364
Weighted average shares outstanding—Basic	22,387			22,216
Weighted average shares outstanding—Diluted	22,387			22,216
Earnings per common share—Basic	$	3.96		$	2.58
Earnings per common share—Diluted	$	3.96		$	2.58