Stockholder's Equity (Tables)

12 Months Ended

Jul. 31, 2022

Equity [Abstract]

Schedule of Capital Stock

Information as to the Company’s capital stock as of July 31, 2022 and 2021 was as follows:

	July 31, 2022				July 31, 2021
	Shares Authorized	Shares Issued	Amount (thousands)		Shares Authorized	Shares Issued	Amount (thousands)
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 during the years ended July 31, 2022, 2021, and 2020:

	Deferred Compensation		Shares Held in Rabbi Trust, at cost		Total
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
Sale of shares at cost	$	(721)	$	721	$	—
Purchase of shares at cost	1,242		(1,242)		—
Balances at July 31, 2022	$	11,055	$	(11,055)	$	—
Shares at July 31, 2022	318,285		318,285

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	2022			2021			2020
Expected term (in years)	6.23			6.21			6.20
Expected volatility	30.04		%	30.71		%	26.07		%
Expected dividend yield	2.26		%	2.49		%	2.63		%
Risk-free interest rate	1.27		%	0.38		%	1.64		%
Weighted-average market value of underlying stock at grant date	$	49.17		$	39.92		$	54.05
Weighted-average exercise price	$	49.17		$	39.92		$	54.05
Weighted-average fair value of options granted during the period	$	11.55		$	8.65		$	10.63

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

The following is a summary of stock option activity for the year ended July 31, 2022:

Time-Based Options	Option Price				Options Outstanding	Weighted Average Exercise Price
Balance as of July 31, 2021	$	19.96	—	$54.05	1,474,068	$	38.45
New grants	46.70		—	49.79	302,225	49.17
Exercised	19.96		—	43.98	(141,748)	23.68
Forfeited	39.92		—	54.05	(43,020)	47.09
Balance as of July 31, 2022	$	19.96	—	$54.05	1,591,525	$	41.57

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, 2022:

	Options Outstanding				Options Outstanding and Exercisable
Range of Exercise Prices	Number of Shares Outstanding at July 31, 2022	Weighted  Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Shares Exercisable at July 31, 2022	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price
$19.96 - $29.99	106,913	2.8	$	21.10	106,913	2.8	$	21.10
$30.00 - $39.99	749,131	5.7	37.12		568,451	4.9	36.23
$40.00 - $54.05	735,481	7.7	49.07		374,876	6.6	48.02
Total	1,591,525	6.4	$	41.57	1,050,240	5.3	$	38.90

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

The following tables summarize the RSU activity during the year ended July 31, 2022:

Time-Based RSUs	Shares	Weighted Average Grant Date  Fair Value
Balance as of July 31, 2021	156,466	$	45.40
New grants	99,278	48.96
Vested	(73,162)	45.47
Forfeited	(9,352)	44.73
Balance as of July 31, 2022	173,230	$	47.45

The time-based RSUs granted during the years ended July 31, 2021 and 2020, had a weighted-average grant-date fair value of $40.82 and $53.38, respectively.

Performance-Based RSUs	Shares	Weighted Average Grant Date  Fair Value
Balance as of July 31, 2021	119,281	$	61.05
New grants (1)	76,743	61.76
Vested (1)	(76,885)	50.70
Forfeited	(40,005)	62.00
Balance as of July 31, 2022	79,134	$	66.79

(1) Includes 32,393 shares resulting from the payout of performance-based RSUs granted in fiscal year 2019 due to the achievement of performance metrics exceeding the target payout.