Stockholder's Investments (Tables)

12 Months Ended

Jul. 31, 2020

Equity [Abstract]

Schedule of Capital Stock

Information as to the Company’s capital stock at July 31, 2020 and 2019 is as follows:

	July 31, 2020				July 31, 2019
	Shares Authorized	Shares Issued	(thousands) Amount		Shares Authorized	Shares Issued	(thousands) Amount
Preferred Stock, $.01 par value	5,000,000				5,000,000
Cumulative Preferred Stock: 6% Cumulative	5,000				5,000
1972 Series	10,000				10,000
1979 Series	30,000				30,000
Common Stock, $.01 par value: Class A Nonvoting	100,000,000	51,261,487	$	513	100,000,000	51,261,487	$	513
Class B Voting	10,000,000	3,538,628	35		10,000,000	3,538,628	35
			$	548			$	548

Schedule of Other Activity in Stockholders' Investment

The following is a summary of other activity in stockholders’ equity for the fiscal years ended July 31, 2020, 2019, and 2018:

	Deferred Compensation		Shares Held in Rabbi Trust, at cost		Total
Balances at July 31, 2017	$	8,124	$	(8,124)	$	—
Shares at July 31, 2017	314,082		314,082
Sale of shares at cost	$	(977)	$	977	$	—
Purchase of shares at cost	1,075		(1,075)		—
Balances at July 31, 2018	$	8,222	$	(8,222)	$	—
Shares at July 31, 2018	299,916		299,916
Sale of shares at cost	$	(928)	$	928	$	—
Purchase of shares at cost	1,212		(1,212)		—
Balances at July 31, 2019	$	8,506	$	(8,506)	$	—
Shares at July 31, 2019	285,533		285,533
Sale of shares at cost	$	(460)	$	460	$	—
Purchase of shares at cost	1,293		(1,293)		—
Balances at July 31, 2020	$	9,339	$	(9,339)	$	—
Shares at July 31, 2020	292,329		292,329

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Black-Scholes Option Valuation Assumptions	2020			2019			2018
Expected term (in years)	6.20			6.20			6.07
Expected volatility	26.07		%	26.05		%	28.19		%
Expected dividend yield	2.63		%	2.71		%	2.72		%
Risk-free interest rate	1.64		%	3.01		%	1.96		%
Weighted-average market value of underlying stock at grant date	$	54.05		$	43.96		$	36.85
Weighted-average exercise price	$	54.05		$	43.96		$	36.85
Weighted-average fair value of options granted during the period	$	10.63		$	9.70		$	7.96

Summary of Stock Option Activity under Company's Share-Based Compensation Plans

for the fiscal year ended July 31, 2020:

Time-Based Options	Option Price				Options Outstanding	Weighted Average Exercise Price
Balance as of July 31, 2019	$	19.96	—	$43.98	1,594,716	$	31.63
New grants	54.05				247,297	54.05
Exercised	19.96		—	43.98	(556,143)	27.21
Forfeited	22.66		—	54.05	(12,488)	39.59
Balance as of July 31, 2020	$	19.96	—	$54.05	1,273,382	$	37.84

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding at July 31, 2020:

	Options Outstanding				Options Outstanding and Exercisable
Range of Exercise Prices	Number of Shares Outstanding at July 31, 2020	Weighted  Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Shares Exercisable at July 31, 2020	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price
$19.96 - $29.99	265,600	4.1	$	22.07	265,600	4.1	$	22.07
$30.00 - $39.99	519,870	6.2	35.36		433,576	6.0	35.07
$40.00 - $54.05	487,912	8.7	49.06		77,097	8.2	43.96
Total	1,273,382	6.7	$	37.84	776,273	5.5	$	31.50

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following tables summarize the RSU activity for the fiscal year ended July 31, 2020:

Time-Based RSUs	Shares	Weighted Average Grant Date Fair Value
Balance as of July 31, 2019	188,638	$	38.15
New grants	76,358	53.38
Vested	(107,187)	35.49
Forfeited	(2,849)	43.73
Balance as of July 31, 2020	154,960	$	47.39

The time-based RSUs granted during the fiscal year ended July 31, 2019, had a weighted-average grant-date fair value of $44.20. The total fair value of time-based RSUs vested during the years ended July 31, 2020 and 2019, was $9,776 and $9,859, respectively.

Performance-Based RSUs	Shares	Weighted Average Grant Date Fair Value
Balance as of July 31, 2019	158,410	$	38.33
New grants (1)	71,921	75.00
Vested	(87,928)	32.03
Forfeited	(16,343)	52.16
Balance as of July 31, 2020	126,060	$	50.61

(1) Includes 32,975 shares resulting from the payout of performance-based RSUs granted in fiscal year 2018 due to achievement of performance metrics exceeding the target payout.

The performance-based RSUs granted during the fiscal year ended July 31, 2020, had a weighted-average grant-date fair value determined by a third-party valuation involving the use of a Monte Carlo simulation. The performance-based RSUs granted during the fiscal year ended July 31, 2019, had a weighted-average grant-date fair value of $50.70. The aggregate intrinsic value of unvested time-based and performance-based RSUs outstanding at July 31, 2020 and 2019, and expected to vest, was $14,013 and $17,953, respectively.