Stockholders' Equity (Tables)

12 Months Ended

Jul. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of Capital Stock

Information as to the Company’s capital stock as of July 31, 2023 and 2022 was as follows:

	July 31, 2023				July 31, 2022
	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' Equity

The following is a summary of other activity in stockholders’ equity during the years ended July 31, 2023, 2022, and 2021:

	Deferred Compensation		Shares Held in Rabbi Trust, at cost		Total
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
Sale of shares at cost	$	(739)	$	739	$	—
Purchase of shares at cost	1,067		(1,067)		—
Balances at July 31, 2023	$	11,383	$	(11,383)	$	—
Shares at July 31, 2023	318,198		318,198

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	2023		2022		2021
Expected term (in years)	5.71		6.23		6.21
Expected volatility	29.64	%	30.04	%	30.71	%
Expected dividend yield	2.01	%	2.26	%	2.49	%
Risk-free interest rate	3.66	%	1.27	%	0.38	%

Schedule of Stock Option Activity

The following is a summary of stock option activity for the year ended July 31, 2023:

Time-Based Options	Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding as of July 31, 2022	1,591,525	$	41.57
Granted	158,416	43.82
Exercised	(125,800)	35.60
Forfeited	(77,358)	46.16
Outstanding as of July 31, 2023	1,546,783	$	42.05	5.8	$	14,787
Exercisable as of July 31, 2023	1,201,223	41.08		5.1	$	12,783

The following table summarizes additional stock option information:

	2023		2022		2021
Weighted-average fair value of options granted during the period	$	12.14	$	11.55	$	8.65
Intrinsic value of options exercised during the period (in thousands)	1,822		4,269		1,477
Fair value of options vested during the period (in thousands)	3,384		2,446		2,371
Cash received from the exercise of stock options during the period (in thousands)	4,091		1,082		1,765
Tax benefit on options exercised during the period (in thousands)	455		1,067		369

Schedule of RSU Activity

The following tables summarize the RSU activity during the year ended July 31, 2023:

RSUs	Shares	Weighted Average Grant Date  Fair Value
Non-vested RSUs as of July 31, 2022	173,230	$	47.45
Granted	68,624	45.22
Vested	(83,155)	47.25
Forfeited	(24,831)	46.81
Non-vested RSUs as of July 31, 2023	133,868	$	46.55

Schedule of Share-Based Payment Award, Performance Shares, Valuation Assumptions

The PRSUs granted during the year ended July 31, 2023 had a fair value determined by a third-party valuation utilizing a Monte Carlo simulation for the portion of the grant with a market value condition and the portion of the grant with a performance condition had a fair value determined by the average of the high and low stock price on the date of grant.

Monte Carlo Valuation Assumptions	2023		2022		2021
Expected volatility	34.8	%	34.7	%	32.6	%
Risk-free interest rate	2.8	%	0.3	%	0.1	%

Schedule of PRSU Activity

The following tables summarize the PRSU activity during the year ended July 31, 2023:

PRSUs	Shares	Weighted Average Grant Date  Fair Value
Non-vested PRSUs as of July 31, 2022	79,134	$	66.79
Granted	44,110	55.77
Vested	(18,959)	75.00
Forfeited	(40,837)	64.12
Non-vested PRSUs as of July 31, 2023	63,448	$	58.39