Net Income per Common Share

6 Months Ended

Jul. 31, 2023

Net Income per Common Share

Net Income per Common Share

NOTE 7 – NET INCOME PER COMMON SHARE

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards outstanding during the period. Approximately 106,000 and 312,500 shares of common stock have been excluded from the diluted net income per share calculation for the three and six months ended July 31, 2023. Approximately 301,300 and 205,400 shares of common stock have been excluded from the diluted net income per share calculation for the three and six months ended July 31, 2022. All share-based payments outstanding that vest based on the achievement of performance conditions, and for which the respective performance conditions have not been achieved, have been excluded from the diluted per share calculation.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:

	Three Months Ended July 31,				Six Months Ended July 31,
	2023		2022		2023		2022
	(In thousands, except share and per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	16,438	$	36,319	$	19,674	$	66,953
Basic net income per share:
Basic common shares		45,714		47,999		45,996		48,007
Basic net income per share	$	0.36	$	0.76	$	0.43	$	1.39
Diluted net income per share:
Basic common shares		45,714		47,999		45,996		48,007
Dilutive restricted stock unit awards and stock options		856		1,020		996		1,054
Diluted common shares		46,570		49,019		46,992		49,061
Diluted net income per share	$	0.35	$	0.74	$	0.42	$	1.36