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. |