Net Income per Common Share (Notes)

9 Months Ended

Apr. 30, 2022

Earnings Per Share [Abstract]

Net Income per Common Share Disclosure

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 April 30,				Nine months ended April 30,
	2022		2021		2022		2021
Numerator (in thousands):
Net Income (Numerator for basic and diluted income per Class A Nonvoting Common Share)	$	40,054	$	37,291	$	108,915	$	101,632
Less:
Preferential dividends	—		—		(803)		(808)
Preferential dividends on dilutive stock options	—		—		(8)		(4)
Numerator for basic and diluted income per Class B Voting Common Share	$	40,054	$	37,291	$	108,104	$	100,820
Denominator: (in thousands)
Denominator for basic income per share for both Class A and Class B	51,326		52,050		51,700		52,030
Plus: Effect of dilutive equity awards	242		399		355		311
Denominator for diluted income per share for both Class A and Class B	51,568		52,449		52,055		52,341
Net income per Class A Nonvoting Common Share:
Basic	$	0.78	$	0.72	$	2.11	$	1.95
Diluted	$	0.78	$	0.71	$	2.09	$	1.94
Net income per Class B Voting Common Share:
Basic	$	0.78	$	0.72	$	2.09	$	1.94
Diluted	$	0.78	$	0.71	$	2.08	$	1.93

Potentially dilutive securities attributable to outstanding stock options and restricted stock units were excluded from the calculation of diluted earnings per share where the combined exercise price and average unamortized fair value were greater than the average market price of the Company's Class A Nonvoting Common Stock because the effect would have been anti-dilutive. The amount of anti-dilutive shares were 526,603 and 239,707 for the three months ended April 30, 2022 and 2021, respectively, and 492,527 and 603,356 for the nine months ended April 30, 2022 and 2021, respectively.