Income Taxes

6 Months Ended

Jan. 31, 2020

Income Taxes [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

The effective income tax rate for the three and six months ended January 31, 2020, was 20.8% and 15.3%, respectively. The Company expects its ongoing annual effective income tax rate to be approximately 20% based on its current global business mix. The effective income tax rate for the six months ended January 31, 2020, was lower than the expected income tax rate due to the favorable settlement of a domestic income tax audit and tax benefits from stock-based compensation.

The effective income tax rate for the three and six months ended January 31, 2019, was 20.3% and 21.8%, respectively.