CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 31, 2020	Jul. 31, 2019
Current assets:
Cash and cash equivalents	$ 211.1	$ 177.8
Accounts receivable, less allowance of $5.0 and $4.8, respectively	475.8	529.5
Inventories, net	350.1	332.8
Prepaid expenses and other current assets	84.2	82.5
Total current assets	1,121.2	1,122.6
Property, plant and equipment, net	623.1	588.9
Right-of-use lease assets	76.0	0.0
Goodwill	308.5	303.1
Intangible assets, net	69.7	70.9
Deferred income taxes	15.4	14.2
Other long-term assets	48.3	42.9
Total assets	2,262.2	2,142.6
Current liabilities:
Short-term borrowings	34.7	2.1
Current maturities of long-term debt	50.0	50.2
Trade accounts payable	210.1	237.5
Current lease liabilities	25.9	0.0
Other current liabilities	177.5	193.1
Total current liabilities	498.2	482.9
Long-term debt	595.8	584.4
Non-current income taxes payable	102.1	110.9
Deferred income taxes	19.5	13.2
Long-term lease liabilities	50.1	0.0
Other long-term liabilities	45.3	48.5
Total liabilities	1,311.0	1,239.9
Commitments and contingencies (Note 15)
Redeemable non-controlling interest	10.8	10.0
Shareholders’ equity:
Preferred stock, $1.00 par value, 1,000,000 shares authorized, none issued	0.0	0.0
Common stock, $5.00 par value, 240,000,000 shares authorized, 151,643,194 shares issued	758.2	758.2
Retained earnings	1,354.1	1,281.5
Non-controlling interest	5.6	5.4
Stock-compensation plans	14.5	21.7
Accumulated other comprehensive loss	(178.3)	(192.9)
Treasury stock, 24,876,430 and 24,324,483 shares, respectively, at cost	(1,013.7)	(981.2)
Total shareholders’ equity	940.4	892.7
Total liabilities and shareholders’ equity	$ 2,262.2	$ 2,142.6