Leases (Notes)

3 Months Ended

Oct. 31, 2024

The Company leases certain manufacturing facilities, warehouse and office spaces, and vehicles accounted for as operating leases. Lease terms typically range from one year to ten years. As of October 31, 2024, the Company did not have any finance leases.

Operating lease expense was $4,735 and $4,065 for the three months ended October 31, 2024 and 2023, respectively, which was recognized in either “Cost of goods sold” or “Selling, general and administrative” expenses in the condensed consolidated statements of income based on the nature of the lease. Short-term lease expense, variable lease expenses, and sublease income were immaterial to the condensed consolidated statements of income for the three months ended October 31, 2024 and 2023.

Supplemental cash flow information related to the Company's operating leases for the three months ended October 31, 2024 and 2023 was as follows:


	Three months ended October 31,
	2024		2023
Operating cash flows from operating leases	$	4,619	$	4,431
Operating lease assets obtained in exchange for new operating lease liabilities (1)	7,630		1,656

(1) Includes new leases, acquired leases and remeasurements or modifications of existing leases.