Earnings Per Common Share (Tables)

3 Months Ended

Oct. 31, 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 October 31,
		2020		2019
Numerator for basic and diluted earnings per share:
Net income		$	24,464	$	5,767
Less income allocated to participating securities		—		(2)
Net income available to common shareholders		$	24,464	$	5,765
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		42,184,486		42,022,383
Dilutive effect of stock awards using the treasury stock method and the average market price for the year		154,352		146,422
Dilutive effect of convertible debt outstanding		619,640		—
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock		42,958,478		42,168,805
Earnings per share attributable to common stock:
Basic earnings per share		$	0.58	$	0.14
Diluted earnings per share		$	0.57	$	0.14
Stock awards excluded 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 our 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,
		2020	2019
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock		42,958,478	42,168,805
Participating securities		—	16,857
Total weighted average number of shares and common stock equivalents attributable to both common stock and participating securities		42,958,478	42,185,662