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Net Income per Common Share
 9 Months Ended
Apr. 30, 2017
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 April 30,
 
Nine months ended April 30,
 
2017
 
2016
 
2017
 
2016
Numerator: (in thousands)
 
 
 
 
 
 
 
Earnings (Numerator for basic and diluted Class A Nonvoting Common Share)
$
22,553

 
$
20,981

 
$
70,403

 
$
54,974

Less:
 
 
 
 
 
 
 
Preferential dividends
—

 
—

 
(788
)
 
(783
)
Preferential dividends on dilutive stock options
—

 
—

 
(14
)
 
(1
)
Numerator for basic and diluted earnings per Class B Voting Common Share
$
22,553

 
$
20,981

 
$
69,601

 
$
54,190

Denominator: (in thousands)
 
 
 
 
 
 
 
Denominator for basic earnings per share for both Class A and Class B
51,227

 
50,251

 
50,972

 
50,602

Plus: Effect of dilutive stock options and restricted stock units
974

 
254

 
910

 
145

Denominator for diluted earnings per share for both Class A and Class B
52,201

 
50,505

 
51,882

 
50,747

Net earnings per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.44

 
$
0.42

 
$
1.38

 
$
1.09

Diluted
$
0.43

 
$
0.42

 
$
1.36

 
$
1.08

Net earnings per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.44

 
$
0.42

 
$
1.37

 
$
1.07

Diluted
$
0.43

 
$
0.42

 
$
1.34

 
$
1.07


Options to purchase 577,557 and 2,480,000 shares of Class A Nonvoting Common Stock for the three months ended April 30, 2017 and 2016, respectively, and 705,859 and 3,525,000 shares for the nine months ended April 30, 2017 and 2016, 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.