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Net Income per Common Share | 9 Months Ended
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Apr. 30, 2019
Earnings Per Share [Abstract] |
Net Income per Common Share | 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 April 30, |  | Nine months ended April 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Numerator: |  |  |  |  |  |  |
Income (Numerator for basic and diluted Class A Nonvoting Common Share) | $ | 34,781 |  |  | $ | 26,000 |  |  | $ | 94,645 |  |  | $ | 56,109 |
Less: |  |  |  |  |  |  |
Preferential dividends | — |  |  | — |  |  | (815 | ) |  | (799 | )
Preferential dividends on dilutive stock options | — |  |  | — |  |  | (13 | ) |  | (16 | )
Numerator for basic and diluted income per Class B Voting Common Share | $ | 34,781 |  |  | $ | 26,000 |  |  | $ | 93,817 |  |  | $ | 55,294 |
Denominator: (in thousands) |  |  |  |  |  |  |
Denominator for basic income per share for both Class A and Class B | 52,766 |  |  | 51,747 |  |  | 52,499 |  |  | 51,628 |
Plus: Effect of dilutive stock options and restricted stock units | 714 |  |  | 982 |  |  | 716 |  |  | 982 |
Denominator for diluted income per share for both Class A and Class B | 53,480 |  |  | 52,729 |  |  | 53,215 |  |  | 52,610 |
Net Income per Class A Nonvoting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.66 |  |  | $ | 0.50 |  |  | $ | 1.80 |  |  | $ | 1.09 |
Diluted | $ | 0.65 |  |  | $ | 0.49 |  |  | $ | 1.78 |  |  | $ | 1.07 |
Net Income per Class B Voting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.66 |  |  | $ | 0.50 |  |  | $ | 1.79 |  |  | $ | 1.07 |
Diluted | $ | 0.65 |  |  | $ | 0.49 |  |  | $ | 1.76 |  |  | $ | 1.05 |
Options to purchase 269,606 and 675,329 shares of Class A Nonvoting Common Stock for the three months ended April 30, 2019 and 2018, respectively, and 407,477 and 705,843 shares for the nine months ended April 30, 2019 and 2018, respectively, were not included in the computation of diluted net income 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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- 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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