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