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Net Income per Common Share (Notes) | 9 Months Ended
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Apr. 30, 2023
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 April 30, |  | Nine months ended April 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Numerator (in thousands): |  |  |  |  |  |  |
Net income (Numerator for basic and diluted income per Class A Nonvoting Common Share) | $ | 48,052 |  |  | $ | 40,054 |  |  | $ | 125,479 |  |  | $ | 108,915 |
Less: |  |  |  |  |  |  |
Preferential dividends | — |  |  | — |  |  | (769) |  |  | (803) |
Preferential dividends on dilutive stock options | — |  |  | — |  |  | (4) |  |  | (8) |
Numerator for basic and diluted income per Class B Voting Common Share | $ | 48,052 |  |  | $ | 40,054 |  |  | $ | 124,706 |  |  | $ | 108,104 |
Denominator (in thousands): |  |  |  |  |  |  |
Denominator for basic income per share for both Class A and Class B | 49,653 |  |  | 51,326 |  |  | 49,755 |  |  | 51,700 |
Plus: Effect of dilutive equity awards | 348 |  |  | 242 |  |  | 278 |  |  | 355 |
Denominator for diluted income per share for both Class A and Class B | 50,001 |  |  | 51,568 |  |  | 50,033 |  |  | 52,055 |
Net income per Class A Nonvoting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.97 |  |  | $ | 0.78 |  |  | $ | 2.52 |  |  | $ | 2.11 |
Diluted | $ | 0.96 |  |  | $ | 0.78 |  |  | $ | 2.51 |  |  | $ | 2.09 |
Net income per Class B Voting Common Share: |  |  |  |  |  |  |
Basic | $ | 0.97 |  |  | $ | 0.78 |  |  | $ | 2.51 |  |  | $ | 2.09 |
Diluted | $ | 0.96 |  |  | $ | 0.78 |  |  | $ | 2.49 |  |  | $ | 2.08 |
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 447,210 and 526,603 for the three months ended April 30, 2023 and 2022, respectively, and 555,247 and 492,527 for the nine months ended April 30, 2023 and 2022, respectively.

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