Income Taxes (Tables)

12 Months Ended

Jul. 31, 2014

Income Taxes [Abstract]

Components Of Earnings Before Income Taxes

	2014		2013		2012
	(thousands of dollars)
Earnings before income taxes:
United States	$	131,396	$	147,317	$	171,101
Foreign		229,307		200,864		199,679
Total	$	360,703	$	348,181	$	370,780

Components Of The Provision For Income Taxes

	2014		2013		2012
	(thousands of dollars)
Income taxes:
Current
Federal	$	48,981	$	35,820	$	45,468
State		4,724		4,337		4,012
Foreign		54,536		52,300		50,655
		108,241		92,457		100,135
Deferred
Federal		(9,465)		7,071		7,391
State		365		312		722
Foreign		1,338		964		(1,769)
		(7,762)		8,347		6,344
Total	$	100,479	$	100,804	$	106,479

Schedule Of Reconciliation Of U.S. Statutory Income Tax Rate With Effective Income Tax Rate

	2014	2013	2012
Statutory U.S. federal rate	35.0%	35.0%	35.0%
State income taxes	1.1%	1.2%	1.2%
Foreign operations	(6.1%)	(6.3%)	(5.2%)
Export, manufacturing, and research credits	(0.8%)	(1.5%)	(1.0%)
Change in unrecognized tax benefits	(1.1%)	0.5%	(1.0%)
Other	(0.2%)	0.1%	(0.3%)
	27.9%	29.0%	28.7%

Schedule Of Temporary Differences That Give Rise To Deferred Tax Assets And Liabilities

	2014		2013
	(thousands of dollars)
Deferred tax assets:
Accrued expenses	$	11,118	$	11,580
Compensation and retirement plans		32,317		23,578
NOL and tax credit carryforwards		3,471		3,279
LIFO and inventory reserves		5,482		5,037
Other		4,470		3,890
Deferred tax assets, gross		56,858		47,364
Valuation allowance		(3,471)		(3,228)
Net deferred tax assets		53,387		44,136
Deferred tax liabilities:
Depreciation and amortization		(49,901)		(45,737)
Other		(1,025)		(663)
Deferred tax liabilities		(50,926)		(46,400)
Prepaid tax assets		4,392		4,015
Net tax asset	$	6,853	$	1,751

Schedule Of Reconciliation Of Beginning And Ending Amount Of Gross Unrecognized Tax Benefits

	2014		2013		2012
	(thousands of dollars)
Gross unrecognized tax benefits at beginning of fiscal year	$	18,419	$	16,514	$	20,005
Additions for tax positions of the current year		2,959		5,453		3,323
Additions for tax positions of prior years		1,706		407		261
Reductions for tax positions of prior years		(7,113)		(1,640)		(4,462)
Settlements		(240)		(277)		-
Reductions due to lapse of applicable statute of limitations		(726)		(2,038)		(2,613)
Gross unrecognized tax benefits at end of fiscal year	$	15,005	$	18,419	$	16,514