Stock Compensation Plan (Tables)

12 Months Ended

Jul. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule Of Share Based Compensation Valuation Model

The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.

	Year Ended July 31,
	2019	2018	2017
Expected volatility	38.6%	40.0%	40.3%
Expected dividends	2.1%	2.0%	2.2%
Expected term (average in years)	6.0-6.6	5.8-6.4	5.5-6.2
Risk-free rate	2.4-2.9%	1.2-2.3%	0.5-1.5%

Schedule Of Share Based Compensation Option And SARs Award Activity

A summary of aggregate SARs award activity under the Plan as of July 31, 2019, 2018 and 2017, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):

	Awards		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at August 1, 2016	2,381		$	52.98
Granted	143		$	174.42
Exercised	(215	)	$	60.05
Forfeited or expired	(19	)	$	108.06
Outstanding at July 31, 2017	2,290		$	59.12
Granted	86		$	237.86
Exercised	(1,049	)	$	33.25
Forfeited or expired	(3	)	$	172.03
Outstanding at July 31, 2018	1,324		$	91.01
Granted	80		$	293.82
Exercised	(219	)	$	49.09
Forfeited or expired	(14	)	$	217.58
Outstanding at July 31, 2019	1,171		$	111.12	4.9 years	$	162,835
Vested and expected to vest at July 31, 2019	1,160		$	109.93	4.9 years	$	162,604
Exercisable at July 31, 2019	1,003		$	87.92	4.4 years	$	159,244

Schedule of Share Based Compensation SARs Activity

A summary of the status of the Company’s nonvested SARs as of July 31, 2019 and changes during the year then ended is presented below (in thousands, except fair value amounts):

	Awards	Weighted-Average Grant-Date Fair Value
Outstanding at July 31, 2018	232	$	56.72
Granted	80	$	98.19
Vested	(130)	$	51.76
Forfeited	(14)	$	75.85
Nonvested at July 31, 2019	168	$	80.75

Schedule Of Share Based Compensation Restricted Stock Units Activity

A summary of the status of the Company’s nonvested restricted share units as of July 31, 2019 and changes during the year then ended is presented below (in thousands, except fair value amounts):

	Awards	Weighted-Average Grant-Date Fair Value
Nonvested at July 31, 2018	176	$	163.83
Granted	68	$	264.44
Vested	(102)	$	142.69
Forfeited	(16)	$	200.50
Nonvested at July 31, 2019	126	$	230.10