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Stock-Based Compensation (Tables)
12 Months Ended
Jul. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of stock-based awards outstanding by award type
As of July 31, 2021, the following stock-based awards, by award type, were outstanding:
 July 31, 2021
Stock options1,073,435 
Performance shares236,464 
RSUs and restricted stock568,399 
Share units263,507 
Total2,141,805 
Stock-based compensation for awards detailing where recorded in Consolidated Statement of Operations
Stock-based compensation for awards issued is reflected in the following line items in our Consolidated Statements of Operations:
 Fiscal Years Ended July 31,
 202120202019
Cost of sales$929,000 823,000 1,047,000 
Selling, general and administrative expenses8,091,000 7,527,000 9,336,000 
Research and development expenses963,000 925,000 1,044,000 
Stock-based compensation expense before income tax benefit
9,983,000 9,275,000 11,427,000 
Estimated income tax benefit(2,164,000)(2,042,000)(2,553,000)
Net stock-based compensation expense$7,819,000 7,233,000 8,874,000 
Summary of stock-based compensation expense by award type Stock-based compensation expense (benefit), by award type, is summarized as follows:
Fiscal Years Ended July 31,
202120202019
Stock options$370,000 442,000 739,000 
Performance shares1,345,000 1,491,000 1,554,000 
RSUs and restricted stock2,985,000 2,543,000 2,149,000 
ESPP208,000 222,000 215,000 
Share units5,075,000 4,577,000 6,770,000 
Stock-based compensation expense before income tax benefit
9,983,000 9,275,000 11,427,000 
Estimated income tax benefit(2,164,000)(2,042,000)(2,553,000)
Net stock-based compensation expense$7,819,000 7,233,000 8,874,000 
Summary of the Plan's activity relating to stock options
The following table summarizes the Plan's activity:
 Awards
(in Shares)
Weighted Average
Exercise Price
Weighted Average
Remaining Contractual
Term (Years)
Aggregate
Intrinsic Value
Outstanding at July 31, 20181,668,975 $28.72   
Expired/canceled(32,490)30.11   
Exercised(80,930)28.18   
Outstanding at July 31, 20191,555,555 28.72   
Granted327,100 17.88 
Expired/canceled(174,840)29.06   
Exercised(285,790)28.82 
Outstanding at July 31, 20201,422,025 26.17 
Expired/canceled(348,590)27.44 
Outstanding at July 31, 20211,073,435 $25.76 4.31$2,178,000 
Exercisable at July 31, 2021835,755 $28.00 3.03$492,000 
Vested and expected to vest at July 31, 20211,060,830 $25.85 4.26$2,088,000 
Summary of the Plan's activity relating to performance shares, RSUs, restricted stock and share units
The following table summarizes the Plan's activity relating to performance shares, RSUs, restricted stock and share units:
  Awards
(in Shares)
 Weighted Average
Grant Date
Fair Value
 
Aggregate
Intrinsic Value
Outstanding at July 31, 2018 818,438 $19.78 
Granted 442,363 29.76 
Settled (275,619)26.05 
Canceled/Forfeited (30,506)25.52 
Outstanding at July 31, 2019 954,676 22.40 
Granted 560,361 19.93 
Settled (431,581)22.02 
Canceled/Forfeited (83,882)22.84 
Outstanding at July 31, 2020999,574 21.15 
Granted644,272 19.06 
Settled(455,564)17.09 
Canceled/Forfeited(119,912)18.42 
Outstanding at July 31, 2021 1,068,370 $21.93 $26,677,000 
  
Vested at July 31, 2021 373,522 $21.84 $9,327,000 
  
Vested and expected to vest at July 31, 2021 1,023,923 $21.93 $25,567,000