Provision for Income Taxes

6 Months Ended

Jan. 31, 2026

Income Tax Disclosure [Abstract]

Provision for Income Taxes

Provision for Income Taxes

The overall effective income tax rate for the three months ended January 31, 2026 was 30.3%, and the effective income tax rate for the six months ended January 31, 2026 was 29.3%. These rates were both negatively impacted by certain losses in foreign jurisdictions without an associated tax benefit and changes in statutory tax rates in certain foreign jurisdictions. The negative impact was partially offset by foreign exchange gains not subject to taxation in both periods.

The overall effective income tax rate for the three months ended January 31, 2025 was (93.1)%, and the effective income tax rate for the six months ended January 31, 2025 was (43.7)%. These rates were both impacted by the jurisdictional mix of pre-tax earnings between foreign and domestic operations, including the impact of non-deductible foreign exchange losses not subject to taxation, and the Company’s consolidated pre-tax losses in both the quarter and year-to-date periods.

Within the next 12 months, the Company does not anticipate any material changes in its unrecognized tax benefits recorded as of January 31, 2026.