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Net Income per Common Share | 12 Months Ended
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Jul. 31, 2018
Earnings Per Share [Abstract] |
Net Earnings per Common Share | Net Earnings per Common Share Basic net earnings per common share is computed by dividing net earnings (after deducting the applicable preferential Class A Common Stock dividends) by the weighted average Common Shares outstanding of 51,677 for fiscal 2018, 51,056 for fiscal 2017, and 50,541 for fiscal 2016. The Company utilizes the two-class method to calculate earnings per 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,
| 2018 |  | 2017 |  | 2016
Numerator (in thousands): |  |  |  |  |
Earnings (Numerator for basic and diluted earnings per Class A Nonvoting Common Share) | $ | 91,060 |  |  | $ | 95,645 |  |  | $ | 80,110 |
Less: |  |  |  |  |
Preferential dividends | (799 | ) |  | (788 | ) |  | (783 | )
Preferential dividends on dilutive stock options | (14 | ) |  | (14 | ) |  | (1 | )
Numerator for basic and diluted earnings per Class B Voting Common Share | $ | 90,247 |  |  | $ | 94,843 |  |  | $ | 79,326 |
Denominator (in thousands): |  |  |  |  |
Denominator for basic earnings per share for both Class A and Class B | 51,677 |  |  | 51,056 |  |  | 50,541 |
Plus: Effect of dilutive equity awards | 847 |  |  | 900 |  |  | 228 |
Denominator for diluted earnings per share for both Class A and Class B | 52,524 |  |  | 51,956 |  |  | 50,769 |
Net earnings per Class A Nonvoting Common Share: |  |  |  |  |
Basic | $ | 1.76 |  |  | $ | 1.87 |  |  | $ | 1.59 |
Diluted | $ | 1.73 |  |  | $ | 1.84 |  |  | $ | 1.58 |
Net earnings per Class B Voting Common Share: |  |  |  |  |
Basic | $ | 1.75 |  |  | $ | 1.86 |  |  | $ | 1.57 |
Diluted | $ | 1.72 |  |  | $ | 1.83 |  |  | $ | 1.56 |
Options to purchase 751,200, 669,036, and 3,172,755 shares of Class A Nonvoting Common Stock for the fiscal years ended July 31, 2018, 2017, and 2016, respectively, were not included in the computation of diluted net earnings per share as the impact of the inclusion of the options would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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