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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Operating activities:    
Net income $ 47,241 $ 39,441
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,466 8,665
Stock-based compensation expense 4,163 2,958
Deferred income taxes (2,225) (1,705)
Other 1,137 (383)
Changes in operating assets and liabilities:    
Accounts receivable (2,205) (627)
Inventories 6,152 (9,582)
Prepaid expenses and other assets (1,488) (2,563)
Accounts payable and accrued liabilities (3,725) (14,150)
Income taxes 5,757 5,945
Net cash provided by operating activities 62,273 27,999
Investing activities:    
Purchases of property, plant and equipment (11,279) (3,861)
Net cash used in investing activities (11,279) (3,861)
Financing activities:    
Payment of dividends (11,338) (11,376)
Proceeds from exercise of stock options 2,598 349
Payments for employee taxes withheld from stock-based awards (2,333) (1,504)
Purchase of treasury stock (14,121) (12,070)
Proceeds from borrowing on credit agreement 38,551 36,000
Repayment of borrowing on credit agreement (36,000) (32,000)
Other 1,149 66
Net cash used in financing activities (21,494) (20,535)
Effect of exchange rate changes on cash and cash equivalents (5,680) (3,201)
Net increase in cash and cash equivalents 23,820 402
Cash and cash equivalents, beginning of period 151,532 114,069
Cash and cash equivalents, end of period $ 175,352 $ 114,471