XML 21 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Net Income per Common Share
 6 Months Ended
Jan. 31, 2018
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 January 31,
 
Six months ended January 31,
 
2018
 
2017
 
2018
 
2017
Numerator: (in thousands)
 
 
 
 
 
 
 
Earnings (Numerator for basic and diluted Class A Nonvoting Common Share)
$
4,273

 
$
25,297

 
$
30,109

 
$
47,850

Less:
 
 
 
 
 
 
 
Preferential dividends
—

 
—

 
(799
)
 
(788
)
Preferential dividends on dilutive stock options
—

 
—

 
(16
)
 
(14
)
Numerator for basic and diluted earnings per Class B Voting Common Share
$
4,273

 
$
25,297

 
$
29,294

 
$
47,048

Denominator: (in thousands)
 
 
 
 
 
 
 
Denominator for basic earnings per share for both Class A and Class B
51,698

 
51,054

 
51,569

 
50,844

Plus: Effect of dilutive stock options and restricted stock units
1,021

 
900

 
982

 
877

Denominator for diluted earnings per share for both Class A and Class B
52,719

 
51,954

 
52,551

 
51,721

Net earnings per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.08

 
$
0.50

 
$
0.58

 
$
0.94

Diluted
$
0.08

 
$
0.49

 
$
0.57

 
$
0.93

Net earnings per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.08

 
$
0.50

 
$
0.57

 
$
0.93

Diluted
$
0.08

 
$
0.49

 
$
0.56

 
$
0.91


Options to purchase 705,069 and 768,617 shares of Class A Nonvoting Common Stock for the three months ended January 31, 2018 and 2017, respectively, and 721,100 and 770,010 shares for the six months ended January 31, 2018 and 2017, 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.