Earnings Per Common Share (Tables)

3 Months Ended

Oct. 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):



	Three Months Ended October 31,
	2017			2016
Numerator for basic and diluted earnings per share:
Net income	$	22,929		$	18,800
Less income allocated to participating securities	(124		)	(134		)
Net income available to common shareholders	$	22,805		$	18,666
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	41,521,952			41,403,050
Dilutive effect of stock options using the treasury stock method and the average market price for the year	66,233			72,015
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock	41,588,185			41,475,065
Earnings per share attributable to common stock:
Basic earnings per share	$	0.55		$	0.45
Diluted earnings per share	$	0.55		$	0.45
Stock options excluded from weighted average dilutive common shares outstanding because their inclusion would have been anti-dilutive	—			—

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:



	Three Months Ended October 31,
	2017	2016
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock	41,588,185	41,475,065
Participating securities	225,675	309,831
Total weighted average number of shares and common stock equivalents attributable to both common stock and participating securities	41,813,860	41,784,896