Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2020

Summary of Significant Accounting Policies [Abstract]

Estimated Useful Lives of Assets

Property and equipment – Property and equipment are stated at cost.  For financial reporting purposes, depreciation and amortization on these assets are computed by use of the straight-line and double-declining balance methods over the estimated useful lives of the respective assets, as follows:

	Years
Buildings and improvements	30-45
Restaurant and other equipment	2-10
Leasehold improvements	1-35

Total Depreciation Expense and Depreciation Expense Related to Store Operations

Total depreciation expense and depreciation expense related to store operations for each of the three years are as follows:

	2020		2019		2018
Total depreciation expense	$	117,259	$	107,294	$	93,266
Depreciation expense related to store operations*		109,362		100,366		86,913

*Depreciation expense related to store operations is included in other store operating expenses in the Consolidated Statements of Income.

Advertising Expense

Advertising expense for each of the three years was as follows:

	2020		2019		2018
Advertising expense	$	79,155	$	81,855	$	83,448