Earnings Per Common Share (Tables)

9 Months Ended

Apr. 30, 2020

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 April 30,						Nine Months Ended April 30,
	2020		2019		2020		2019
Numerator for basic and diluted earnings per share:
Net income	$	15,787	$	8,175	$	19,291	$	46,217
Less income allocated to participating securities	—		(5)		(3)		(51)
Net income available to common shareholders	$	15,787	$	8,170	$	19,288	$	46,166
Denominator for basic and diluted earnings per share, adjusted for participating securities:
Denominator for basic earnings per share - weighted average number of shares outstanding attributable to common stock	42,187,539		41,720,733		42,266,677		41,685,623
Dilutive effect of stock awards using the treasury stock method and the average market price for the year	—		38,705		60,858		40,608
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock	42,187,539		41,759,438		42,327,535		41,726,231
Earnings per share attributable to common stock:
Basic earnings per share	$	0.37	$	0.20	$	0.46	$	1.11
Diluted earnings per share	$	0.37	$	0.20	$	0.46	$	1.11
Stock awards excluded because their inclusion would have been anti-dilutive	15,000		—		—		—

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 our total weighted average number of shares and common stock equivalents, including participating securities, is set forth in the following table:


	Three Months Ended April 30,			Nine Months Ended April 30,
	2020	2019	2020	2019
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock	42,187,539	41,759,438	42,327,535	41,726,231
Participating securities	1,696	25,002	7,247	45,485
Total weighted average number of shares and common stock equivalents attributable to both common stock and participating securities	42,189,235	41,784,440	42,334,782	41,771,716