Net Income per Common Share

9 Months Ended

Apr. 30, 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 April 30,				Nine months ended April 30,
	2021		2020		2021		2020
Numerator (in thousands):
Net Income (Numerator for basic and diluted income per Class A Nonvoting Common Share)	$	37,291	$	13,633	$	101,632	$	84,684
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	$	37,291	$	13,633	$	100,820	$	83,846
Denominator: (in thousands)
Denominator for basic income per share for both Class A and Class B	52,050		52,607		52,030		53,023
Plus: Effect of dilutive equity awards	399		365		311		489
Denominator for diluted income per share for both Class A and Class B	52,449		52,972		52,341		53,512
Net income per Class A Nonvoting Common Share:
Basic	$	0.72	$	0.26	$	1.95	$	1.60
Diluted	$	0.71	$	0.26	$	1.94	$	1.58
Net income per Class B Voting Common Share:
Basic	$	0.72	$	0.26	$	1.94	$	1.58
Diluted	$	0.71	$	0.26	$	1.93	$	1.57

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 239,707 and 488,932 for the three months ended April 30, 2021 and 2020, respectively, and 603,356 and 353,752 for the nine months ended April 30, 2021 and 2020, respectively.