Net Income Per Share

6 Months Ended

Jan. 31, 2019

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 6 – Net Income Per Share

The table below reconciles basic weighted average shares outstanding to diluted weighted average shares outstanding:

	Three Months Ended January 31,		Six Months Ended January 31,
(In thousands)	2019	2018	2019	2018
Weighted average common shares outstanding	230,798	231,478	232,343	231,086
Effect of dilutive securities - stock options	9,862	9,882	10,400	8,990
Weighted average common and dilutive potential common shares outstanding	240,660	241,360	242,743	240,076

There were no material adjustments to net income required in calculating diluted net income per share. Excluded from the dilutive earnings per share calculation were 425,000 and 2,287,500 options to purchase the Company’s common stock for the three months ended January 31, 2019 and 2018, respectively, and 460,000 and 4,478,004 options to purchase the Company’s common stock for the six months ended January 31, 2019 and 2018, respectively, because their inclusion would have been anti-dilutive.