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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jul. 31, 2019
Jul. 31, 2018
Jul. 31, 2017
Net sales $ 1,160,645 $ 1,173,851 $ 1,113,316
Cost of goods sold 581,967 585,560 555,024
Gross margin 578,678 588,291 558,292
Operating expenses:      
Research and development 45,168 45,253 39,624
Selling, general and administrative 371,082 390,342 387,653
Total operating expenses 416,250 435,595 427,277
Operating income 162,428 152,696 131,015
Other income (expense):      
Investment and other income 5,046 2,487 1,121
Interest expense (2,830) (3,168) (5,504)
Income before income taxes 164,644 152,015 126,632
Income tax expense 33,386 60,955 30,987
Net income $ 131,258 $ 91,060 $ 95,645
Weighted average common shares outstanding:      
Basic (in shares) 52,596 51,677 51,056
Diluted (in shares) 53,323 52,524 51,956
Class A Nonvoting Common Stock [Member]      
Earnings per share:      
Net income per share, basic $ 2.50 $ 1.76 $ 1.87
Net income per share, diluted 2.46 1.73 1.84
Dividends 0.85 0.83 0.82
Class B Voting Common Stock [Member]      
Earnings per share:      
Net income per share, basic 2.48 1.75 1.86
Net income per share, diluted 2.45 1.72 1.83
Dividends $ 0.83 $ 0.81 $ 0.80