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Net Income per Common Share | 12 Months Ended
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Jul. 31, 2019
Earnings Per Share [Abstract] |
Net Earnings per Common Share | Net Income per Common Share Basic net income per common share is computed by dividing net income (after deducting the applicable preferential Class A Common Stock dividends) by the weighted average Common Shares outstanding of 52,596 for fiscal 2019, 51,677 for fiscal 2018, and 51,056 for fiscal 2017. The Company utilizes the two-class method to calculate income 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,
| 2019 |  | 2018 |  | 2017
Numerator (in thousands): |  |  |  |  |
Income (Numerator for basic and diluted income per Class A Nonvoting Common Share) | $ | 131,258 |  |  | $ | 91,060 |  |  | $ | 95,645 |
Less: |  |  |  |  |
Preferential dividends | (815 | ) |  | (799 | ) |  | (788 | )
Preferential dividends on dilutive stock options | (13 | ) |  | (14 | ) |  | (14 | )
Numerator for basic and diluted income per Class B Voting Common Share | $ | 130,430 |  |  | $ | 90,247 |  |  | $ | 94,843 |
Denominator (in thousands): |  |  |  |  |
Denominator for basic income per share for both Class A and Class B | 52,596 |  |  | 51,677 |  |  | 51,056 |
Plus: Effect of dilutive equity awards | 727 |  |  | 847 |  |  | 900 |
Denominator for diluted income per share for both Class A and Class B | 53,323 |  |  | 52,524 |  |  | 51,956 |
Net income per Class A Nonvoting Common Share: |  |  |  |  |
Basic | $ | 2.50 |  |  | $ | 1.76 |  |  | $ | 1.87 |
Diluted | $ | 2.46 |  |  | $ | 1.73 |  |  | $ | 1.84 |
Net income per Class B Voting Common Share: |  |  |  |  |
Basic | $ | 2.48 |  |  | $ | 1.75 |  |  | $ | 1.86 |
Diluted | $ | 2.45 |  |  | $ | 1.72 |  |  | $ | 1.83 |
Options to purchase 372,255, 751,200, and 669,036 shares of Class A Nonvoting Common Stock for the fiscal years ended July 31, 2019, 2018, and 2017, respectively, were not included in the computation of diluted net income 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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