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Net Income per Common Share | 9 Months Ended
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Apr. 30, 2016
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 April 30, |  | Nine months ended April 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Numerator: (in thousands) |  |  |  |  |  |  |
Earnings from continuing operations | $ | 20,981 |  |  | $ | 17,213 |  |  | $ | 54,974 |  |  | $ | 44,296 |
Less: |  |  |  |  |  |  |
Preferential dividends | — |  |  | — |  |  | (783 | ) |  | (794 | )
Preferential dividends on dilutive stock options | — |  |  | — |  |  | (1 | ) |  | (1 | )
Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share | $ | 20,981 |  |  | $ | 17,213 |  |  | $ | 54,190 |  |  | $ | 43,501 |
Denominator: (in thousands) |  |  |  |  |  |  |
Denominator for basic earnings from continuing operations per share for both Class A and Class B | 50,251 |  |  | 51,301 |  |  | 50,602 |  |  | 51,275 |
Plus: Effect of dilutive stock options | 254 |  |  | 149 |  |  | 145 |  |  | 95 |
Denominator for diluted earnings from continuing operations per share for both Class A and Class B | 50,505 |  |  | 51,450 |  |  | 50,747 |  |  | 51,370 |
Earnings from continuing operations per Class A Nonvoting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.42 |  |  | $ | 0.34 |  |  | $ | 1.09 |  |  | $ | 0.86 |
Diluted | $ | 0.42 |  |  | $ | 0.33 |  |  | $ | 1.08 |  |  | $ | 0.86 |
Earnings from continuing operations per Class B Voting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.42 |  |  | $ | 0.34 |  |  | $ | 1.07 |  |  | $ | 0.85 |
Diluted | $ | 0.42 |  |  | $ | 0.33 |  |  | $ | 1.07 |  |  | $ | 0.85 |
Loss from discontinued operations per Class A Nonvoting Common Share: |  |  |  |  |  |  |
Basic | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.03 | )
Diluted | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.03 | )
Loss from discontinued operations per Class B Voting Common Share: |  |  |  |  |  |  |
Basic | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.04 | )
Diluted | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.04 | )
Net earnings per Class A Nonvoting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.42 |  |  | $ | 0.34 |  |  | $ | 1.09 |  |  | $ | 0.83 |
Diluted | $ | 0.42 |  |  | $ | 0.33 |  |  | $ | 1.08 |  |  | $ | 0.83 |
Net earnings per Class B Voting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.42 |  |  | $ | 0.34 |  |  | $ | 1.07 |  |  | $ | 0.81 |
Diluted | $ | 0.42 |  |  | $ | 0.33 |  |  | $ | 1.07 |  |  | $ | 0.81 |
Options to purchase approximately 2,480,000 and 2,836,000 shares of Class A Nonvoting Common Stock for the three months ended April 30, 2016 and 2015, respectively, and 3,525,000 and 3,531,000 shares for the nine months ended April 30, 2016 and 2015, 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.

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