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Leases (Tables)

12 Months Ended

Jul. 31, 2015

Rent expense under operating leases, including the sale-leaseback transactions discussed below, for each of the three years was:

Year	Minimum		Contingent		Total
2015	$	72,877	$	252	$	73,129
2014		71,123		242		71,365
2013		70,095		232		70,327

Schedule of Future Minimum Operating Lease Payments

The following is a schedule by year of the future minimum rental payments required under the Company’s operating leases as of July 31, 2015:

Year	Total
2016	$	61,405
2017		48,885
2018		44,489
2019		42,853
2020		43,175
Later years		502,283
Total	$	743,090

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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