Net Income per Common Share

6 Months Ended

Jan. 31, 2021

The following table summarizes the computation of basic and diluted net income per share for the Company’s Class A and Class B common stock:


	Three months ended January 31,				Six months ended January 31,
	2021		2020		2021		2020
Numerator (in thousands):
Net Income (Numerator for basic and diluted income per Class A Nonvoting Common Share)	$	30,860	$	33,553	$	64,341	$	71,051
Less:
Preferential dividends	—		—		(808)		(828)
Preferential dividends on dilutive stock options	—		—		(4)		(10)
Numerator for basic and diluted income per Class B Voting Common Share	$	30,860	$	33,553	$	63,529	$	70,213
Denominator: (in thousands)
Denominator for basic income per share for both Class A and Class B	52,018		53,320		52,020		53,232
Plus: Effect of dilutive equity awards	264		507		268		549
Denominator for diluted income per share for both Class A and Class B	52,282		53,827		52,288		53,781
Net income per Class A Nonvoting Common Share:
Basic	$	0.59	$	0.63	$	1.24	$	1.33
Diluted	$	0.59	$	0.62	$	1.23	$	1.32
Net income per Class B Voting Common Share:
Basic	$	0.59	$	0.63	$	1.22	$	1.32
Diluted	$	0.59	$	0.62	$	1.21	$	1.31

Potentially dilutive securities attributable to outstanding stock options and restricted stock units were excluded from the calculation of diluted net income per share where the combined exercise price and average unamortized fair value were greater than the average market price of Brady's Class A Nonvoting Common Stock because the effect would have been anti-dilutive. The amount of anti-dilutive shares was 829,617 and 248,604 for the three months ended January 31, 2021 and 2020, respectively, and 785,181 and 286,161 for the six months ended January 31, 2021 and 2020, respectively.