Net Income per Common Share

12 Months Ended

Jul. 31, 2022

Earnings Per Share [Abstract]

Net Earnings 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:

	Years ended July 31,
	2022		2021		2020
Numerator (in thousands):
Net Income (Numerator for basic and diluted income per Class A Nonvoting Common Share)	$	149,979	$	129,659	$	112,369
Less:
Preferential dividends	(803)		(807)		(828)
Preferential dividends on dilutive stock options	(8)		(5)		(10)
Numerator for basic and diluted income per Class B Voting Common Share	$	149,168	$	128,847	$	111,531
Denominator (in thousands):
Denominator for basic income per share for both Class A and Class B	51,321		52,039		52,763
Plus: Effect of dilutive equity awards	330		370		468
Denominator for diluted income per share for both Class A and Class B	51,651		52,409		53,231
Net income per Class A Nonvoting Common Share:
Basic	$	2.92	$	2.49	$	2.13
Diluted	$	2.90	$	2.47	$	2.11
Net income per Class B Voting Common Share:
Basic	$	2.91	$	2.48	$	2.11
Diluted	$	2.89	$	2.46	$	2.10

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 Brady's Class A Nonvoting Common Stock because the effect would have been anti-dilutive. The amount of anti-dilutive shares were 497,307, 511,189, and 387,382 for the years ended July 31, 2022, 2021, and 2020, respectively.