Net Income per Common Share

9 Months Ended

Oct. 31, 2015

Earnings Per Share [Abstract]

Net Income per Common Share

Note 5 – 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 is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options outstanding, during the period. In addition, all share based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation. Approximately 66,000 and 533,000 shares of common stock have been excluded from the diluted net income per share calculation for the three months ended October 31, 2015 and 2014, respectively. Approximately 134,000 and 685,000 shares of common stock have been excluded from the diluted net income per share calculation for the nine months ended October 31, 2015 and 2014, respectively. For the nine months ended October 31, 2015 and 2014, 262,830 and 606,236 shares of common stock, respectively, were issued in connection with the exercise or vesting of equity awards. In addition, the Company re-issued 317,143 treasury shares in connection with the exercise or vesting of equity awards that occurred in October 2015.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share, adjusted for the two-for-one split of the Company’s common stock effected on May 1, 2015:

	Three Months Ended  October 31,				Nine Months Ended  October 31,
	2015		2014		2015		2014
	(In thousands, except per share amounts)
Net income attributable to G-III	$	87,156	$	80,615	$	106,369	$	88,141
Basic net income per share:
Basic common shares		45,311		44,822		45,117		42,740
Basic net income per share	$	1.92	$	1.80	$	2.36	$	2.06
Diluted net income per share:
Basic common shares		45,311		44,822		45,117		42,740
Restricted stock awards and stock options		1,215		902		1,275		942
Diluted common shares		46,526		45,724		46,392		43,682
Diluted net income per share	$	1.87	$	1.76	$	2.29	$	2.02