Operating Leases (Tables)

6 Months Ended

Jan. 31, 2022

Leases [Abstract]

Schedule of Revenues by Lease and non-lease components

The following table disaggregates the Company's revenues by lease and non-lease components:

	Three Months Ended				Six Months Ended
	January 31				January 31
	2022		2021		2022		2021
Base rent - fixed	$	4,907,556	$	4,629,553	$	9,583,388	$	9,062,131
Reimbursements of common area costs		182,843		152,164		343,160		306,695
Non-lease components (real estate taxes)		237,950		265,150		481,348		513,035
Rental income	$	5,328,349	$	5,046,867	$	10,407,896	$	9,881,861

Schedule of Future Minimum Non-Cancelable Rental Income

Future minimum non-cancelable rental income for leases with initial or remaining terms of one year or more is as follows:

	As of January 31, 2022
	Company
	Owned		Leased
Fiscal Year	Property		Property		Total
For the remainder of 2022	$	6,072,221	$	2,600,817	$	8,673,038
2023		9,191,692		3,238,674		12,430,366
2024		7,342,648		2,958,708		10,301,356
2025		6,993,387		2,575,496		9,568,883
2026		6,144,341		2,441,013		8,585,354
2027		2,926,183		4,848,001		7,774,184
After 2027		29,030,452		2,302,619		31,333,071
Total	$	67,700,924	$	20,965,328	$	88,666,252

Schedule of rental expense

Operating lease costs for leased real property was exceeded by sublease rental income from the Company’s real estate operations as follows:

	Three Months Ended January 31						Six Months Ended January 31
	2022			2021			2022			2021
Sublease income	$	1,810,962		$	1,740,248		$	3,597,138		$	3,468,281
Operating lease cost		(832,709	)		(832,707	)		(1,665,420	)		(1,665,420	)
Excess of sublease income over lease cost	$	978,253		$	907,541		$	1,931,718		$	1,802,861

Schedule of annual undiscounted cash flows of the operating lease liabilities

The following is a maturity analysis of the annual undiscounted cash flows of the operating lease liabilities as of January 31, 2022:

	Operating
Period Ended	Leases
January 31, 2023	$	2,124,546
January 31, 2024		2,141,424
January 31, 2025		2,158,823
January 31, 2026		2,181,170
January 31, 2027		2,262,743
Thereafter		24,194,029
Total undiscounted cash flows		35,062,735
Less: present value discount		(7,882,432	)
Total Lease Liabilities	$	27,180,303

Schedule of Additional Information Related to Leases

	Three Months Ended January 31				Six Months Ended January 31
Other information:	2022		2021		2022		2021
Operating cash flows from operating leases	$	528,073	$	497,281	$	1,055,287	$	989,613