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Net Income per Common Share
 3 Months Ended
Oct. 31, 2015
Earnings Per Share [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 October 31,
 
2015
 
2014
Numerator: (in thousands)
 
 
 
Earnings from continuing operations (Numerator for basic and diluted Class A Nonvoting Common Share)
$
18,703

 
$
15,499

Less:
 
 
 
Preferential dividends
(783
)
 
(794
)
Preferential dividends on dilutive stock options
(1
)
 
(1
)
Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share
$
17,919

 
$
14,704

Denominator: (in thousands)
 
 
 
Denominator for basic earnings from continuing operations per share for both Class A and Class B
51,029

 
51,251

Plus: Effect of dilutive stock options
60

 
62

Denominator for diluted earnings from continuing operations per share for both Class A and Class B
51,089

 
51,313

Earnings from continuing operations per Class A Nonvoting Common Share:
 
 
 
Basic
$
0.37

 
$
0.30

Diluted
$
0.37

 
$
0.30

Earnings from continuing operations per Class B Voting Common Share:
 
 
 
Basic
$
0.35

 
$
0.29

Diluted
$
0.35

 
$
0.29

Loss from discontinued operations per Class A Nonvoting Common Share:
 
 
 
Basic
$
—

 
$
(0.03
)
Diluted
$
—

 
$
(0.04
)
Loss from discontinued operations per Class B Voting Common Share:
 
 
 
Basic
$
—

 
$
(0.04
)
Diluted
$
—

 
$
(0.04
)
Net earnings per Class A Nonvoting Common Share:
 
 
 
Basic
$
0.37

 
$
0.27

Diluted
$
0.37

 
$
0.26

Net earnings per Class B Voting Common Share:
 
 
 
Basic
$
0.35

 
$
0.25

Diluted
$
0.35

 
$
0.25


Options to purchase approximately 4,172,000 and 3,897,000 shares of Class A Nonvoting Common Stock for the three months ended October 31, 2015 and 2014, 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.