Income Taxes (Tables)

12 Months Ended

Jul. 31, 2024

Schedule of (Loss) Earnings from Continuing Operations

Income before income taxes consists of the following:


	Years Ended July 31,
	2024		2023		2022
United States	$	111,647	$	92,053	$	92,985
Other Nations	136,194		133,643		98,995
Total	$	247,841	$	225,696	$	191,980

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense consists of the following:


	Years Ended July 31,
	2024		2023		2022
Current income tax expense:
United States	$	22,637	$	26,324	$	8,639
Other Nations	32,121		31,093		31,851
States (U.S.)	5,267		5,894		3,156
	$	60,025	$	63,311	$	43,646
Deferred income tax (benefit) expense:
United States	$	(7,999)	$	(10,577)	$	970
Other Nations	(133)		251		(2,377)
States (U.S.)	(1,267)		(2,146)		(238)
	$	(9,399)	$	(12,472)	$	(1,645)
Total income tax expense	$	50,626	$	50,839	$	42,001

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences are as follows as of July 31, 2024 and 2023:


	July 31, 2024
	Assets		Liabilities		Total
Inventories	$	7,462	$	(59)	$	7,403
Employee compensation and benefits	9,248		—		9,248
Accounts receivable	1,828		—		1,828
Fixed assets	3,507		(8,148)		(4,641)
Intangible assets	639		(48,248)		(47,609)
Capitalized R&D expenditures	20,252		—		20,252
Deferred and equity-based compensation	9,071		—		9,071
Postretirement benefits	2,463		(52)		2,411
Tax credit and net operating loss carry-forwards	43,929		—		43,929
Valuation allowances	(47,224)		—		(47,224)
Other, net	20,346		(5,462)		14,884
Total	$	71,521	$	(61,969)	$	9,552


	July 31, 2023
	Assets		Liabilities		Total
Inventories	$	8,526	$	(64)	$	8,462
Employee compensation and benefits	8,556		—		8,556
Accounts receivable	2,202		—		2,202
Fixed assets	3,118		(9,238)		(6,120)
Intangible assets	760		(49,267)		(48,507)
Capitalized R&D expenditures	9,986		—		9,986
Deferred and equity-based compensation	9,937		—		9,937
Postretirement benefits	2,683		(100)		2,583
Tax credit and net operating loss carry-forwards	51,387		—		51,387
Valuation allowances	(52,750)		—		(52,750)
Other, net	19,826		(4,798)		15,028
Total	$	64,231	$	(63,467)	$	764

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax rate computed by applying the statutory U.S. federal income tax rate to income before income taxes to the total income tax expense is as follows:


	Years Ended July 31,
	2024		2023		2022
Tax at statutory rate	21.0	%	21.0	%	21.0	%
International rate differential (1)	0.7	%	1.7	%	4.2	%
Adjustments to tax accruals and reserves	0.2	%	0.2	%	(0.1)	%
Research and development tax credits	(1.6)	%	(1.3)	%	(1.6)	%
Valuation allowance against foreign tax credits and foreign net operating loss carry-forwards	0.2	%	1.2	%	(1.2)	%
Deferred tax and other adjustments, net	(0.1)	%	(0.3)	%	(0.4)	%
Income tax rate	20.4	%	22.5	%	21.9	%

(1)Represents the foreign income tax rate differential when compared to the U.S. statutory income tax rate for the years ended July 31, 2024, 2023, and 2022.

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of unrecognized tax benefits (excluding interest and penalties) is as follows:


Balance as of July 31, 2021	$	21,912
Additions based on tax positions related to the current year	3,233
Additions for tax positions of prior years	435
Reductions for tax positions of prior years	(122)
Lapse of statute of limitations	(3,226)
Settlements with tax authorities	(1,129)
Cumulative translation adjustments and other	(539)
Balance as of July 31, 2022	$	20,564
Additions based on tax positions related to the current year	2,902
Additions for tax positions of prior years	792
Reductions for tax positions of prior years	(19)
Lapse of statute of limitations	(2,682)
Settlements with tax authorities	(782)
Cumulative translation adjustments and other	124
Balance as of July 31, 2023	$	20,899
Additions based on tax positions related to the current year	3,130
Additions for tax positions of prior years	1,594
Reductions for tax positions of prior years	(43)
Lapse of statute of limitations	(2,666)

Settlements with tax authorities	(257)
Cumulative translation adjustments and other	(67)
Balance as of July 31, 2024	$	22,590

Schedule of Open Tax Years by Major Jurisdictions

The following table summarizes the open tax years for the Company's major jurisdictions:


Jurisdiction						Open Tax Years
United States — Federal						F’21 — F’24