Stockholder's Equity (Tables)

12 Months Ended

Jul. 31, 2021

Equity [Abstract]

Schedule of Capital Stock

Information as to the Company’s capital stock at July 31, 2021 and 2020 is as follows:

	July 31, 2021				July 31, 2020
	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, 2021, 2020, and 2019:

	Deferred Compensation		Shares Held in Rabbi Trust, at cost		Total
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
Sale of shares at cost	$	(277)	$	277	$	—
Purchase of shares at cost	1,472		(1,472)		—
Balances at July 31, 2021	$	10,534	$	(10,534)	$	—
Shares at July 31, 2021	315,916		315,916

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

The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table:

Black-Scholes Option Valuation Assumptions	2021			2020			2019
Expected term (in years)	6.21			6.20			6.20
Expected volatility	30.71		%	26.07		%	26.05		%
Expected dividend yield	2.49		%	2.63		%	2.71		%
Risk-free interest rate	0.38		%	1.64		%	3.01		%
Weighted-average market value of underlying stock at grant date	$	39.92		$	54.05		$	43.96
Weighted-average exercise price	$	39.92		$	54.05		$	43.96
Weighted-average fair value of options granted during the period	$	8.65		$	10.63		$	9.70

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

The following is a summary of stock option activity for the fiscal year ended July 31, 2021:

Time-Based Options	Option Price				Options Outstanding	Weighted Average Exercise Price
Balance as of July 31, 2020	$	19.96	—	$54.05	1,273,382	$	37.84
New grants	39.92				303,052	39.92
Exercised	19.96		—	54.05	(77,272)	32.07
Forfeited	39.92		—	54.05	(25,094)	44.82
Balance as of July 31, 2021	$	19.96	—	$54.05	1,474,068	$	38.45

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, 2021:

	Options Outstanding				Options Outstanding and Exercisable
Range of Exercise Prices	Number of Shares Outstanding at July 31, 2021	Weighted  Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Shares Exercisable at July 31, 2021	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price
$19.96 - $29.99	217,913	3.8	$	20.87	217,913	3.8	$	20.87
$30.00 - $39.99	789,608	6.6	37.05		501,997	5.2	35.40
$40.00 - $54.05	466,547	7.7	49.02		229,758	7.5	47.39
Total	1,474,068	6.5	$	38.45	949,668	5.4	$	34.97

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, 2021:

Time-Based RSUs	Shares	Weighted Average Grant Date  Fair Value
Balance as of July 31, 2020	154,960	$	47.39
New grants	79,811	40.82
Vested	(69,436)	44.48
Forfeited	(8,869)	46.14
Balance as of July 31, 2021	156,466	$	45.40

The time-based RSUs granted during the fiscal year ended July 31, 2020 and 2019, had a weighted-average grant-date fair value of $53.38 and $44.20, respectively.

Performance-Based RSUs	Shares	Weighted Average Grant Date  Fair Value
Balance as of July 31, 2020	126,060	$	50.61
New grants (1)	64,634	60.73
Vested (1)	(71,413)	33.12
Balance as of July 31, 2021	119,281	$	61.05

(1) Includes 23,805 shares resulting from the payout of performance-based RSUs granted in fiscal year 2018 due to the achievement of performance metrics exceeding the target payout.