XML 21 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jul. 31, 2022
Jul. 31, 2021
Jul. 31, 2020
Net sales $ 1,302,062 $ 1,144,698 $ 1,081,299
Cost of goods sold 670,510 583,252 552,734
Gross margin 631,552 561,446 528,565
Operating expenses:      
Research and development 58,548 44,551 40,662
Selling, general and administrative 379,992 349,768 336,059
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 0 0 8,665
Total operating expenses 438,540 394,319 390,542
Operating income 193,012 167,127 138,023
Other income (expense):      
Investment and other income 244 4,333 5,079
Interest expense (1,276) (437) (2,166)
Income before income taxes and losses of unconsolidated affiliate 191,980 171,023 140,936
Income tax expense 42,001 35,610 28,321
Income before losses of unconsolidated affiliate 149,979 135,413 112,615
Equity in losses of unconsolidated affiliate 0 (5,754) (246)
Net income $ 149,979 $ 129,659 $ 112,369
Weighted average common shares outstanding:      
Basic 51,321 52,039 52,763
Diluted 51,651 52,409 53,231
Class A Nonvoting Common Stock      
Earnings per share:      
Basic $ 2.92 $ 2.49 $ 2.13
Diluted 2.90 2.47 2.11
Class B Voting Common Stock      
Earnings per share:      
Basic 2.91 2.48 2.11
Diluted $ 2.89 $ 2.46 $ 2.10