XML 49 R32.htm IDEA: XBRL DOCUMENT v3.20.2
LEASES (Tables)
12 Months Ended
Jul. 31, 2020
Leases [Abstract]  
Lease, Cost

We have no material finance leases, and variable costs for operating leases are immaterial. Operating lease costs are included in Cost of Sales or SG&A expenses based on the nature of the lease. The following table summarizes total lease costs for our operating leases (in thousands):

 
For the Twelve Months Ended July 31, 2020
Operating Lease Cost
 
Operating lease cost
$
2,219

Short-term operating lease cost
788



Supplemental cash flow information related to leases was as follows (in thousands):

 
For the Twelve Months Ended July 31, 2020
Other Information
 
Cash paid for amounts included in the measurement of lease liabilities:
 
  Operating cash flows from operating leases
$
1,878



Operating lease ROU assets and operating lease liabilities are separately presented on the Consolidated Balance Sheet, excluding leases with an initial term of twelve months or less. Other supplemental balance sheet information related to leases was as follows:
 
For the Twelve Months Ended July 31, 2020
Weighted-average remaining lease term - operating leases
9.4 years
Weighted-average discount rate - operating leases
3.87%

Lessee, Operating Lease, Liability, Maturity
The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of July 31, 2020 (in thousands):
2021
$
2,552

2022
2,076

2023
1,106

2024
965

2025
885

Thereafter
6,131

Total
13,715

Less: imputed interest
(2,410
)
Net lease obligation
$
11,305


Schedule of Future Minimum Rental Payments for Operating Leases
Rent expense for the fiscal year ended July 31, 2019 was $2,873,000. The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of July 31, 2019 (in thousands):
2020
$
2,255

2021
1,640

2022
1,513

2023
1,038

2024
899

Thereafter
7,422