Net Income Per Share

12 Months Ended

Jul. 31, 2023

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:

	Year Ended July 31,
(In thousands)	2023	2022	2021
Weighted average common shares outstanding	953,574	949,676	945,008
Effect of dilutive securities	13,073	14,928	16,152
Weighted average common and dilutive potential common shares outstanding	966,647	964,604	961,160

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 8,333,268; 14,891,048; and 16,361,000 options to purchase the Company’s common stock for the years ended July 31, 2023, 2022 and 2021, respectively, because their inclusion would have been anti-dilutive.