Stock-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2018

Share-based Compensation [Abstract]

Schedule of valuation assumption used to determine fair value of stock-based compensation awards

The Company determined the fair value of these awards using the Black-Scholes option pricing model with the following assumptions:

	Year Ended July 31,
	2018		2017		2016
Risk-free interest rate	2.0 - 2.9%		2.5 - 2.6%		1.6 - 2.3%
Expected volatility	18.2 - 20.6%		20.8 - 24.1%		21.8 - 25.9%
Expected dividend yield	1.6	%	1.7	%	1.7	%
Expected life:
Director and officer grants	8 years		8 years		8 years
Non-officer original grants	7 years		7 years		7 years

Schedule of stock option activity

The following table summarizes stock option activity for the years ended July 31, 2018, 2017 and 2016:

	Options Outstanding		Weighted Average Exercise Price
Outstanding at July 31, 2015	7,191,442		$	29.38
Granted	969,450		28.19
Exercised	(916,789	)	19.39
Canceled	(421,713	)	36.95
Outstanding at July 31, 2016	6,822,390		30.09
Granted	888,500		42.65
Exercised	(978,193	)	24.04
Canceled	(47,146	)	36.51
Outstanding at July 31, 2017	6,685,551		32.60
Granted	881,050		45.70
Exercised	(738,635	)	26.47
Canceled	(42,154	)	39.52
Outstanding at July 31, 2018	6,785,812		34.93

Schedule of outstanding and exercisable options

The following table summarizes information concerning outstanding and exercisable options as of July 31, 2018:

Range of Exercise Prices	Number Outstanding	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$0.00 to $27.69	892,599	1.1	$	19.83	892,599	$	19.83
$27.70 to $32.69	1,464,785	5.3	28.58		1,164,643	28.68
$32.70 to $37.69	1,345,832	4.0	34.43		1,344,999	34.43
$37.70 to $42.69	1,363,651	6.2	40.36		1,276,451	40.23
$40.70 and above	1,718,945	8.6	44.25		365,804	42.84
	6,785,812	5.5	34.93		5,044,496	32.60

Schedule of status of options that contain vesting provisions

The following table summarizes the status of options that contain vesting provisions:

	Options		Weighted Average Grant Date Fair Value
Non-vested at July 31, 2017	1,780,525		$	9.06
Granted	881,050		9.29
Vested	(880,939	)	9.05
Canceled	(39,320	)	8.41
Non-vested at July 31, 2018	1,741,316		9.20