Net Income per Common Share (Notes)

6 Months Ended

Jan. 31, 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 January 31,				Six months ended January 31,
	2022		2021		2022		2021
Numerator (in thousands):
Net Income (Numerator for basic and diluted income per Class A Nonvoting Common Share)	$	33,815	$	30,860	$	68,861	$	64,341
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	$	33,815	$	30,860	$	68,050	$	63,529
Denominator: (in thousands)
Denominator for basic income per share for both Class A and Class B	51,800		52,018		51,887		52,020
Plus: Effect of dilutive equity awards	362		264		412		268
Denominator for diluted income per share for both Class A and Class B	52,162		52,282		52,299		52,288
Net income per Class A Nonvoting Common Share:
Basic	$	0.65	$	0.59	$	1.33	$	1.24
Diluted	$	0.65	$	0.59	$	1.32	$	1.23
Net income per Class B Voting Common Share:
Basic	$	0.65	$	0.59	$	1.31	$	1.22
Diluted	$	0.65	$	0.59	$	1.30	$	1.21

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 471,377 and 829,617 for the three months ended January 31, 2022 and 2021, respectively, and 475,489 and 785,181 for the six months ended January 31, 2022 and 2021, respectively.