Net Income Per Share

3 Months Ended

Oct. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

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

	Three Months Ended October 31,
(In thousands)	2022	2021
Weighted average common shares outstanding	476,099	474,136
Effect of dilutive securities	6,069	8,306
Weighted average common and dilutive potential common shares outstanding	482,168	482,442

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 1,642,800 and 110,500 options to purchase the Company’s common stock for the three months ended October 31, 2022 and 2021, respectively, because their inclusion would have been anti-dilutive.