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,
	2026		2025		2024
Numerator (in thousands):
Net Income (Numerator for basic and diluted income per Class A Nonvoting Common Share)	$	205,378	$	189,256	$	197,215
Less:
Preferential dividends	(728)		(736)		(748)
Preferential dividends on dilutive stock options	(8)		(8)		(5)
Numerator for basic and diluted income per Class B Voting Common Share	$	204,642	$	188,512	$	196,462
Denominator (in thousands):
Denominator for basic income per share for both Class A and Class B	47,285		47,641		48,119
Plus: Effect of dilutive equity awards	465		451		377
Denominator for diluted income per share for both Class A and Class B	47,750		48,092		48,496
Net income per Class A Nonvoting Common Share:
Basic	$	4.34	$	3.97	$	4.10
Diluted	$	4.30	$	3.94	$	4.07
Net income per Class B Voting Common Share:
Basic	$	4.33	$	3.96	$	4.08
Diluted	$	4.29	$	3.92	$	4.05

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 Brady's Class A Nonvoting Common Stock because the effect would have been anti-dilutive. The amount of anti-dilutive shares were 4,617, 4,319, and 113,641 for the years ended July 31, 2026, 2025, and 2024, respectively.