| 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, | | | 2020 | | 2019 | | 2020 | | 2019 | | Numerator (in thousands): | | | | | | | | Income (Numerator for basic and diluted income per
Class A Nonvoting Common Share) | $ | 13,633 | | | $ | 34,781 | | | $ | 84,684 | | | $ | 94,645 | | | Less: | | | | | | | | | Preferential dividends | — | | | — | | | (828) | | | (815) | | | Preferential dividends on dilutive stock options | — | | | — | | | (10) | | | (13) | | Numerator for basic and diluted income per Class B
Voting Common Share | $ | 13,633 | | | $ | 34,781 | | | $ | 83,846 | | | $ | 93,817 | | | Denominator: (in thousands) | | | | | | | | Denominator for basic income per share for both
Class A and Class B | 52,607 | | | 52,766 | | | 53,023 | | | 52,499 | | | Plus: Effect of dilutive equity awards | 365 | | | 714 | | | 489 | | | 716 | | Denominator for diluted income per share for both
Class A and Class B | 52,972 | | | 53,480 | | | 53,512 | | | 53,215 | | | Net income per Class A Nonvoting Common Share: | | | | | | | | | Basic | $ | 0.26 | | | $ | 0.66 | | | $ | 1.60 | | | $ | 1.80 | | | Diluted | $ | 0.26 | | | $ | 0.65 | | | $ | 1.58 | | | $ | 1.78 | | | Net income per Class B Voting Common Share: | | | | | | | | | Basic | $ | 0.26 | | | $ | 0.66 | | | $ | 1.58 | | | $ | 1.79 | | | Diluted | $ | 0.26 | | | $ | 0.65 | | | $ | 1.57 | | | $ | 1.76 | |
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