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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Apr. 30, 2020
Apr. 30, 2019
Service revenues and vehicle sales: $ 550,360 $ 553,116 $ 1,679,924 $ 1,499,382
Operating Costs and Expenses 355,259 345,622 1,069,540 975,709
Operating expenses:        
Yard operations 253,760 230,553 751,902 653,707
Cost of vehicle sales 53,987 70,984 170,651 189,952
General and administrative 47,512 44,085 146,987 132,050
Total operating expenses 355,259 345,622 1,069,540 975,709
Other expense:        
Interest expense (5,803) (5,324) (15,328) (15,208)
Interest income 225 240 1,260 1,878
Other income, net 2,277 1,719 2,640 7,538
Total other expense (3,301) (3,365) (11,428) (5,792)
Operating income 195,101 207,494 610,384 523,673
Income before income taxes 191,800 204,129 598,956 517,881
Income tax expense (44,313) (11,388) (64,582) (79,684)
Net income $ 147,487 $ 192,741 $ 534,374 $ 438,197
Basic net income per common share $ 0.63 $ 0.85 $ 2.30 $ 1.90
Weighted average common shares outstanding 234,133 227,984 232,647 230,922
Diluted net income per common share $ 0.62 $ 0.81 $ 2.24 $ 1.82
Diluted weighted average common shares outstanding 238,591 237,892 238,564 241,158
Service revenues        
Service revenues and vehicle sales: $ 491,582 $ 473,682 $ 1,489,472 $ 1,285,295
Vehicle sales        
Service revenues and vehicle sales: $ 58,778 $ 79,434 $ 190,452 $ 214,087