Leases (Notes)

9 Months Ended

Apr. 30, 2026

Leases

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 April 30, 2026, the Company did not have any finance leases.

Operating lease expense was $5,327 and $4,714 for the three months ended April 30, 2026 and 2025, respectively, and $15,823 and $13,988 for the nine months ended April 30, 2026 and 2025, 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 and nine months ended April 30, 2026 and 2025.

Supplemental cash flow information related to the Company’s operating leases for the nine months ended April 30, 2026 and 2025 was as follows:


	Nine months ended April 30,
	2026		2025
Operating cash outflows from operating leases	$	15,462	$	13,780
Operating lease assets obtained in exchange for new operating lease liabilities (1)	13,805		30,964

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