Earnings Per Common Share (Tables)

12 Months Ended

Jul. 31, 2017

Schedule of computation of basic and diluted EPS available to stockholders of common stock (excluding participating securities)

The following table sets forth the computation of basic and diluted EPS available to stockholders of common stock (excluding participating securities):



	Year Ended July 31,
	2017			2016			2015
Numerator for basic and diluted earnings per share:
Net income	$	71,378		$	59,953		$	47,953
Less income allocated to participating securities	(431		)	(488		)	(433		)
Net income available to common shareholders	$	70,947		$	59,465		$	47,520
Denominator for basic and diluted earnings per share, as adjusted for participating securities:
Denominator for basic earnings per share - weighted average number of shares outstanding attributable to common stock	41,468,487			41,344,013			41,139,467
Dilutive effect of stock options using the treasury stock method and the average market price for the year	74,278			46,181			63,133
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock	41,542,765			41,390,194			41,202,600
Earnings per share attributable to common stock:
Basic earnings per share	$	1.71		$	1.44		$	1.16
Diluted earnings per share	$	1.71		$	1.44		$	1.15
Stock options excluded from weighted average dilutive common shares outstanding because their inclusion would have been antidilutive	—			—			—

Schedule of reconciliation of weighted average number of shares and common stock equivalents attributable to common stock to the Company's total weighted average number of shares and common stock equivalents including participating securities

A reconciliation of weighted average number of shares and common stock equivalents attributable to common stock, as determined above, to the Company’s total weighted average number of shares and common stock equivalents, including participating securities, is set forth in the following table:



	Year Ended July 31,
	2017	2016	2015
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock	41,542,765	41,390,194	41,202,600
Participating securities	254,727	340,363	378,706
Total weighted average number of shares and common stock equivalents attributable to both common stock and participating securities	41,797,492	41,730,557	41,581,306