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Net Income per Common Share
 6 Months Ended
Jan. 31, 2020
Earnings Per Share [Abstract]  
Net Income per Common Share Net Income 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,
 
2020
 
2019
 
2020
 
2019
Numerator (in thousands):
 
 
 
 
 
 
 
Income (Numerator for basic and diluted income per
Class A Nonvoting Common Share)
$
33,553

 
$
29,227

 
$
71,051

 
$
59,864

Less:
 
 
 
 
 
 
 
Preferential dividends
—

 
—

 
(828
)
 
(815
)
Preferential dividends on dilutive stock options
—

 
—

 
(10
)
 
(13
)
Numerator for basic and diluted income per Class B
Voting Common Share
$
33,553

 
$
29,227

 
$
70,213

 
$
59,036

Denominator: (in thousands)
 
 
 
 
 
 
 
Denominator for basic income per share for both
Class A and Class B
53,320

 
52,532

 
53,232

 
52,366

Plus: Effect of dilutive equity awards
507

 
674

 
549

 
716

Denominator for diluted income per share for both
Class A and Class B
53,827

 
53,206

 
53,781

 
53,082

Net income per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.63

 
$
0.56

 
$
1.33

 
$
1.14

Diluted
$
0.62

 
$
0.55

 
$
1.32

 
$
1.13

Net income per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.63

 
$
0.56

 
$
1.32

 
$
1.13

Diluted
$
0.62

 
$
0.55

 
$
1.31

 
$
1.11


Stock-based awards to purchase 248,604 and 272,922 shares of Class A Nonvoting Common Stock for the three months ended January 31, 2020 and 2019, respectively, and 286,161 and 476,412 shares for the six months ended January 31, 2020 and 2019, respectively, were not included in the computation of diluted net income per share because the effect would have been anti-dilutive.