Stock-Based Compensation (Tables)

3 Months Ended

Oct. 31, 2023

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 Assumptions	2023		2022
Expected term (in years)	5.4		5.7
Expected volatility	30.2	%	29.6	%
Expected dividend yield	1.9	%	2.0	%
Risk-free interest rate	4.7	%	3.7	%

Schedule of Stock Option Activity

The following is a summary of stock option activity for the three months ended October 31, 2023:

Time-Based Options	Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at July 31, 2023	1,546,783	$	42.05
Granted	52,097	54.80
Exercised	(174,370)	36.57
Forfeited	(5,433)	48.82
Outstanding at October 31, 2023	1,419,077	$	43.17	6.0	$	12,727
Exercisable at October 31, 2023	1,195,029	$	42.17	5.4	$	11,851

The following table summarizes additional stock option information:

	Three months ended October 31,
	2023		2022
Weighted-average fair value of options granted during the period	$	16.42	$	12.06
Intrinsic value of options exercised during the period (in thousands)	3,410		364
Fair value of options vested during the period (in thousands)	1,729		2,458
Cash received from the exercise of stock options during the period (in thousands)	2,598		349
Tax benefit on options exercised during the period (in thousands)	841		91

Schedule of RSU Activity

The following is a summary of RSU activity for the three months ended October 31, 2023:

	Number of Shares	Weighted Average Grant Date Fair Value
Non-vested RSUs as of July 31, 2023	133,868	$	46.55
Granted	86,286	54.80
Vested	(53,888)	45.23
Forfeited	(1,483)	48.92
Non-vested RSUs as of October 31, 2023	164,783	$	51.28

Schedule of PRSU Activity

The following is a summary of PRSU activity for the three months ended October 31, 2023:

	Number of Shares	Weighted Average Grant Date Fair Value
Non-vested PRSUs as of July 31, 2023	63,448	$	58.39
Granted	65,956	51.16
Vested	(2,786)	60.73
Forfeited	(19,436)	60.73
Non-vested PRSUs as of October 31, 2023	107,182	$	53.46