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Net Income per Common Share
 6 Months Ended
Jan. 31, 2017
Earnings Per Share [Abstract]  
Net Income per Common Share
Net Earnings 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,
 
2017
 
2016
 
2017
 
2016
Numerator: (in thousands)
 
 
 
 
 
 
 
Earnings (Numerator for basic and diluted Class A Nonvoting Common Share)
$
25,297

 
$
15,290

 
$
47,850

 
$
33,993

Less:
 
 
 
 
 
 
 
Preferential dividends
—

 
—

 
(788
)
 
(783
)
Preferential dividends on dilutive stock options
—

 
—

 
(14
)
 
(1
)
Numerator for basic and diluted earnings per Class B Voting Common Share
$
25,297

 
$
15,290

 
$
47,048

 
$
33,209

Denominator: (in thousands)
 
 
 
 
 
 
 
Denominator for basic earnings per share for both Class A and Class B
$
51,054

 
$
50,527

 
$
50,844

 
$
50,778

Plus: Effect of dilutive stock options and restricted stock units
900

 
120

 
877

 
90

Denominator for diluted earnings per share for both Class A and Class B
$
51,954

 
$
50,647

 
$
51,721

 
$
50,868

Net earnings per Class A Nonvoting Common Share:
 
 
 
 
 
 
 
Basic
$
0.50

 
$
0.30

 
$
0.94

 
$
0.67

Diluted
$
0.49

 
$
0.30

 
$
0.93

 
$
0.67

Net earnings per Class B Voting Common Share:
 
 
 
 
 
 
 
Basic
$
0.50

 
$
0.30

 
$
0.93

 
$
0.65

Diluted
$
0.49

 
$
0.30

 
$
0.91

 
$
0.65


Options to purchase 768,617 and 3,923,000 shares of Class A Nonvoting Common Stock for the three months ended January 31, 2017 and 2016, respectively, and 770,010 and 4,048,000 shares for the six months ended January 31, 2017 and 2016, respectively, were not included in the computation of diluted net earnings or loss per share because the option exercise price was greater than the average market price of the common shares and, therefore, the effect would have been anti-dilutive.