Property and Equipment, Net

12 Months Ended

Jul. 31, 2020

Property, Plant and Equipment [Abstract]

NOTE 3 — Property and Equipment, Net

Property and equipment, net consisted of the following:


	July 31,
(In thousands)	2020		2019
Land	$	1,235,315	$	939,817
Buildings and improvements	932,976		686,615
Transportation and other equipment	274,422		236,282
Office furniture and equipment	70,926		63,200
Software	52,621		39,434
	2,566,260		1,965,348
Less: Accumulated depreciation and amortization	(624,541)		(537,622)
Property and equipment, net	$	1,941,719	$	1,427,726

Depreciation expense on property and equipment was $82.1 million, $66.8 million and $58.8 million for the years ended July 31, 2020, 2019 and 2018, respectively. Amortization expense of software was $10.4 million, $7.6 million and $5.7 million for the years ended July 31, 2020, 2019 and 2018, respectively. During the year ended July 31, 2018, the Company retired fully amortized capitalized software of $15.5 million, which were no longer being utilized.