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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2019
Jul. 31, 2018
Jul. 31, 2017
Operating Activities      
Net earnings $ 267.2 $ 180.3 $ 232.8
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 81.1 76.7 75.2
Equity in earnings of affiliates, net of distributions (1.2) (2.7) (0.5)
Deferred income taxes 10.2 7.0 (10.6)
Stock-based compensation plan expense 15.0 16.7 9.1
Other, net (7.6) (27.6) 5.1
Changes in operating assets and liabilities, excluding effect of acquired businesses:      
Accounts receivable 1.4 (41.7) (31.8)
Inventories (5.5) (43.8) (42.4)
Prepaid expenses and other current assets (9.7) 3.6 12.8
Income taxes payable (2.0) 87.9 8.5
Trade accounts payable and other accrued expenses (3.1) 6.5 59.6
Net cash provided by operating activities 345.8 262.9 317.8
Investing Activities      
Purchases of property, plant and equipment (150.7) (97.5) (65.9)
Proceeds from sale of property, plant and equipment 0.3 1.6 2.4
Acquisitions, net of cash acquired (96.0) 0.5 (32.2)
Net cash used in investing activities (246.4) (95.4) (95.7)
Financing Activities      
Proceeds from long-term debt 155.0 197.7 0.0
Repayments of long-term debt (45.9) (272.4) (81.7)
Change in short-term borrowings (25.3) 6.0 129.2
Purchase of treasury stock (129.2) (122.0) (140.4)
Dividends paid (99.7) (94.7) (92.4)
Tax withholding for stock compensation transactions (4.1) (2.6) (2.6)
Exercise of stock options 25.9 19.2 22.7
Net cash used in financing activities (123.3) (268.8) (165.2)
Effect of exchange rate changes on cash (3.0) (2.4) 8.3
(Decrease) increase in cash and cash equivalents (26.9) (103.7) 65.2
Cash and cash equivalents, beginning of year 204.7 308.4 243.2
Cash and cash equivalents, end of year 177.8 204.7 308.4
Supplemental Cash Flow Information      
Income taxes 99.3 82.6 88.0
Interest 19.1 21.9 19.9
Supplemental disclosure of non-cash investing transactions      
Accrued property, plant and equipment additions $ 16.5 $ 9.0 $ 6.1