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Net Income per Common Share
 6 Months Ended
Jan. 31, 2014
Text Block [Abstract]  
Net Income per Common Share
Net Earnings per Common Share
Reconciliations of the numerator and denominator of the basic and diluted per share computations for the Company’s Class A and Class B common stock are summarized as follows:
 
Three months ended January 31,
 
Six months ended January 31,
 
2014
 
2013
 
2014
 
2013
Numerator: (in thousands)
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
$
10,517

 
$
(10,671
)
 
$
28,652

 
$
15,620

Less:
 
 
 
 
 
 
 
Restricted stock dividends
(16
)
 
(60
)
 
(61
)
 
(119
)
Numerator for basic and diluted earnings (loss) from continuing operations per Class A Nonvoting Common Share
$
10,501

 
$
(10,731
)
 
$
28,591

 
$
15,501

Less:
 
 
 
 
 
 
 
Preferential dividends
—

 
—

 
(813
)
 
(797
)
Preferential dividends on dilutive stock options
—

 
—

 
(6
)
 
(4
)
Numerator for basic and diluted earnings (loss) from continuing operations per Class B Voting Common Share
$
10,501

 
$
(10,731
)
 
$
27,772

 
$
14,700

Denominator: (in thousands)
 
 
 
 
 
 
 
Denominator for basic earnings (loss) from continuing operations per share for both Class A and Class B
52,208

 
51,177

 
52,140

 
51,108

Plus: Effect of dilutive stock options
286

 
—

 
317

 
399

Denominator for diluted earnings (loss) from continuing operations per share for both Class A and Class B
52,494

 
51,177

 
52,457

 
51,507

Earnings (loss) from continuing operations per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.20

 
$
(0.21
)
 
$
0.55

 
$
0.30

Diluted
$
0.20

 
$
(0.21
)
 
$
0.55

 
$
0.30

Earnings (loss) from continuing operations per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.20

 
$
(0.21
)
 
$
0.53

 
$
0.29

Diluted
$
0.20

 
$
(0.21
)
 
$
0.53

 
$
0.29

Earnings from discontinued operations per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.11

 
$
0.04

 
$
0.22

 
$
0.06

Diluted
$
0.11

 
$
0.04

 
$
0.22

 
$
0.06

Earnings from discontinued operations per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.11

 
$
0.04

 
$
0.23

 
$
0.05

Diluted
$
0.11

 
$
0.04

 
$
0.22

 
$
0.05

Net earnings (loss) per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.31

 
$
(0.17
)
 
$
0.77

 
$
0.36

Diluted
$
0.31

 
$
(0.17
)
 
$
0.77

 
$
0.36

Net earnings (loss) per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.31

 
$
(0.17
)
 
$
0.76

 
$
0.34

Diluted
$
0.31

 
$
(0.17
)
 
$
0.75

 
$
0.34


In accordance with ASC 260, "Earnings per share," dilutive options were not included in the computation of diluted loss per share for the three months ended January 31, 2013, since to do so would reduce the calculated loss per share.
Options to purchase approximately 2,537,000 and 3,539,000 shares of Class A Nonvoting Common Stock for the three months ended January 31, 2014 and 2013, respectively, were not included in the computation of diluted net earnings or loss per share because the option exercise price was greater than the average market price of the common shares and, therefore, the effect would have been anti-dilutive. Options to purchase approximately 2,521,000 and 4,044,000 shares of Class A Nonvoting Common Stock for the six months ended January 31, 2014 and 2013, respectively, were not included in the computation of diluted net earnings per share because the option exercise price was greater than the average market price of the common shares and, therefore, the effect would have been anti-dilutive.