Net Income Per Share

12 Months Ended

Jul. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 10 — Net Income Per Share

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

	Year Ended July 31,
(In thousands)	2020	2019	2018
Weighted average common shares outstanding	233,202	230,489	231,793
Effect of dilutive securities — stock options	5,454	9,964	10,084
Weighted average common and dilutive potential common shares outstanding	238,656	240,453	241,877

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 1,575,167; 3,045,000; and 4,788,004 options to purchase the Company’s common stock for the years ended July 31, 2020, 2019 and 2018, respectively, because their inclusion would have been anti-dilutive.