Fair Value Measurements

3 Months Ended

Oct. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The financial assets and liabilities that are accounted for at fair value on a recurring basis at October 31, 2025 and July 31, 2025 are as follows:

	Input Level	October 31, 2025		July 31, 2025
Cash equivalents	Level 1	$	244,363	$	362,067
Deferred compensation plan mutual fund assets	Level 1	$	13,079	$	12,302
Interest rate swap liabilities, net	Level 2	$	1,251	$	1,210
Warrants to purchase shares	Level 2	$	10,885	$	10,885

Cash equivalents represent investments in short-term money market instruments that are direct obligations of the U.S. Treasury and/or repurchase agreements backed by U.S. Treasury obligations. These investments are reported as a component of Cash and cash equivalents in the Condensed Consolidated Balance Sheets.

Deferred compensation plan assets accounted for at fair value are investments in securities (primarily mutual funds) traded in an active market held for the benefit of certain employees of the Company as part of a deferred compensation plan. Additional plan investments in corporate-owned life insurance are recorded at their cash surrender value, not fair value, and therefore are not included above.

The fair value of interest rate swaps is determined by discounting the estimated future cash flows based on the applicable observable yield curves.

Warrants to purchase shares represent certain warrants to purchase common and preferred shares of a non-public company that is not actively traded. Fair value is determined based upon prices paid by investors for the same or similar securities. These warrants are reported as a component of Other long-term assets on the Condensed Consolidated Balance Sheets.