Basic net income per common share is calculated by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per common share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company's stock options, performance stock units and restricted stock units. The following is a reconciliation of the weighted-average common shares outstanding used for the computation of basic and diluted net income per common share:


	Fiscal Year Ended January 31,
	2026		2025		2024
Net income	$	464,919	$	402,462	$	287,674

Basic weighted-average common shares outstanding		90,191,801		92,684,127		92,697,751
Effect of dilutive options, performance stock units and restricted stock units		1,616,556		1,763,919		1,630,034
Diluted weighted-average shares outstanding		91,808,357		94,448,046		94,327,785

Net income per common share:
Basic	$	5.15	$	4.34	$	3.10
Diluted	$	5.06	$	4.26	$	3.05

For fiscal 2026, there were no awards to purchase common shares that were excluded from the calculation of diluted net income per common share for which the impact would be anti-dilutive. For fiscal 2025 and 2024, awards to purchase 30,000 common shares at a price of $46.42 and awards to purchase 60,000 common shares ranging in price from $28.47 to $46.42, respectively, were excluded from the calculation of diluted net income per common share because the impact would be anti-dilutive.

As of January 31, 2026 and 2025, 209,248 and 270,441 contingently issuable awards, respectively, were excluded from the calculation of diluted net income per common share as they did not meet certain performance criteria.