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Stock-Based Compensation (Tables)
 3 Months Ended
Oct. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Weighted-Average Assumptions to Estimate Option Grant Date Fair Values The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table:
Three months ended October 31,
Black-Scholes Option Valuation Assumptions20222021
Expected term (in years)5.76.1
Expected volatility29.6 %30.0 %
Expected dividend yield2.0 %2.3 %
Risk-free interest rate3.7 %1.0 %
Schedule of Stock Option Activity
The following is a summary of stock option activity for the three months ended October 31, 2022:
Time-Based OptionsOptions OutstandingWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value
Outstanding at July 31, 20221,591,525$41.57 
Granted147,62943.50 
Exercised(22,494)30.48 
Forfeited(10,247)45.41 
Outstanding at October 31, 20221,706,413$41.86 6.4$9,729 
Exercisable at October 31, 20221,270,763$40.67 5.4$8,851 
Schedule of RSU Activity
The following is a summary of RSU activity for the three months ended October 31, 2022:
Number of SharesWeighted Average Grant Date Fair Value
Non-vested RSUs as of July 31, 2022173,230 $47.45 
Granted62,197 44.70 
Vested(61,316)47.50 
Forfeited(2,585)45.03 
Non-vested RSUs as of October 31, 2022171,526 $46.47 
Schedule of Share-Based Payment Award, Performance Shares, Valuation Assumptions The assumptions used in the Monte Carlo valuation model are reflected in the following table:
Three months ended October 31,
Monte Carlo Valuation Assumptions20222021
Expected volatility34.8 %34.7 %
Risk-free interest rate2.8 %0.3 %
Schedule of PRSU Activity
The following is a summary of PRSU activity for the three months ended October 31, 2022:
Number of SharesWeighted Average Grant Date Fair Value
Non-vested PRSUs as of July 31, 202279,134 $66.79 
Granted44,110 55.77 
Vested(18,959)75.00 
Forfeited(16,332)71.99 
Non-vested PRSUs as of October 31, 202287,953 $58.63