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Net Income per Common Share
 9 Months Ended
Apr. 30, 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 April 30,
 
Nine months ended April 30,
 
2014
 
2013
 
2014
 
2013
Numerator: (in thousands)
 
 
 
 
 
 
 
Earnings from continuing operations
$
20,184

 
$
21,680

 
$
48,835

 
$
37,300

Less:
 
 
 
 
 
 
 
Restricted stock dividends
(16
)
 
(60
)
 
(76
)
 
(179
)
Numerator for basic and diluted earnings from continuing operations per Class A Nonvoting Common Share
$
20,168

 
$
21,620

 
$
48,759

 
$
37,121

Less:
 
 
 
 
 
 
 
Preferential dividends
—

 
—

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

 
—

 
(6
)
 
(5
)
Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share
$
20,168

 
$
21,620

 
$
47,940

 
$
36,319

Denominator: (in thousands)
 
 
 
 
 
 
 
Denominator for basic earnings from continuing operations per share for both Class A and Class B
51,933

 
51,415

 
52,071

 
51,210

Plus: Effect of dilutive stock options
67

 
626

 
233

 
475

Denominator for diluted earnings from continuing operations per share for both Class A and Class B
52,000

 
52,041

 
52,304

 
51,685

Earnings from continuing operations per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.39

 
$
0.42

 
$
0.94

 
$
0.72

Diluted
$
0.39

 
$
0.42

 
$
0.93

 
$
0.72

Earnings from continuing operations per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.39

 
$
0.42

 
$
0.92

 
$
0.71

Diluted
$
0.39

 
$
0.42

 
$
0.92

 
$
0.70

Earnings (loss) from discontinued operations per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.07

 
$
(0.34
)
 
$
0.30

 
$
(0.28
)
Diluted
$
0.07

 
$
(0.34
)
 
$
0.30

 
$
(0.28
)
Earnings (loss) from discontinued operations per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.07

 
$
(0.34
)
 
$
0.30

 
$
(0.29
)
Diluted
$
0.07

 
$
(0.34
)
 
$
0.29

 
$
(0.28
)
Net earnings per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.46

 
$
0.08

 
$
1.24

 
$
0.44

Diluted
$
0.46

 
$
0.08

 
$
1.23

 
$
0.44

Net earnings per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.46

 
$
0.08

 
$
1.22

 
$
0.42

Diluted
$
0.46

 
$
0.08

 
$
1.21

 
$
0.42


Options to purchase approximately 4,213,000 and 2,591,000 shares of Class A Nonvoting Common Stock for the three months ended April 30, 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 3,085,000 and 3,560,000 shares of Class A Nonvoting Common Stock for the nine months ended April 30, 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.