Leases

12 Months Ended

Jul. 31, 2021

Leases [Abstract]

Leases

Leases

The Company enters into operating leases primarily for office, production and warehouse facilities, production and non-production equipment, automobiles and computer equipment.

The Company’s operating lease costs were as follows (in millions):

	Year Ended July 31,
	2021		2020
Operating lease cost	$	25.6	$	30.1
Short-term lease cost	2.4		2.4
Total lease costs	$	28.0	$	32.5

Supplemental balance sheet information for the Company was as follows (in millions):

	July 31,
	2021		2020
Right-of-use lease assets	$	51.2	$	73.7
Current lease liabilities	$	18.1	$	25.7
Long-term lease liabilities	$	33.7	$	48.1

Additional information related to operating leases was as follows:

	July 31,
	2021		2020
Weighted average remaining lease term (years)	4.6		4.8
Weighted average discount rate	3.26	%	3.50	%

Remaining payments for operating leases having initial terms of more than one year as of as of July 31, 2021 were as follows (in millions):

2022	$	18.9
2023	12.3
2024	7.3
2025	4.3
2026	3.8
Thereafter	7.7
Total future lease payments	54.3
Less imputed interest	3.1
Present value of future lease payments	$	51.2