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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jul. 31, 2021
Jul. 31, 2020
Jul. 31, 2019
Net sales $ 1,144,698 $ 1,081,299 $ 1,160,645
Cost of goods sold 583,252 552,734 581,967
Gross margin 561,446 528,565 578,678
Operating expenses:      
Research and development 44,551 40,662 45,168
Selling, general and administrative 349,768 336,059 371,082
Impairment charges 0 13,821 0
Total operating expenses 394,319 390,542 416,250
Operating income (1) 167,127 138,023 162,428
Other income (expense):      
Investment and other income 4,333 5,079 5,046
Interest expense (437) (2,166) (2,830)
Income before income taxes and losses of unconsolidated affiliate 171,023 140,936 164,644
Income tax expense 35,610 28,321 33,386
Income before losses of unconsolidated affiliate 135,413 112,615 131,258
Equity in losses of unconsolidated affiliate (5,754) (246) 0
Net income $ 129,659 $ 112,369 $ 131,258
Weighted average common shares outstanding:      
Basic 52,039 52,763 52,596
Diluted 52,409 53,231 53,323
Class A Nonvoting Common Stock      
Earnings per share:      
Basic $ 2.49 $ 2.13 $ 2.50
Diluted 2.47 2.11 2.46
Dividends 0.88 0.87 0.85
Class B Voting Common Stock      
Earnings per share:      
Basic 2.48 2.11 2.48
Diluted 2.46 2.10 2.45
Dividends $ 0.86 $ 0.85 $ 0.83