Debt (Tables)

3 Months Ended

Oct. 31, 2022

Debt

Schedule of Debt Components

	October 31, 2022		July 31, 2022
Unsecured senior notes
Fixed rate, 5.375%, due 2026	$	650,000	$	650,000
Fixed rate, 5.875%, due 2029		825,000		825,000
Notes payable
8.3% and 8.9% weighted average interest rate at October 31, 2022 and July 31, 2022, respectively, due 2023 to 2027, net of unamortized discount of $840 and $465 at October 31, 2022 and July 31, 2022, respectively		5,636		4,539
Total debt, excluding unamortized debt issuance and other costs		1,480,636		1,479,539
Unamortized debt issuance and other costs		(26,535)		(27,731)
Less: current portion of long-term debt		2,442		1,792
Long-term debt	$	1,451,659	$	1,450,016

Schedule of financial covenant ratio

Financial Covenant	Ratio
Minimum interest coverage ratio (1)	2.50x
Maximum secured leverage ratio (2)	2.50x
Maximum total net leverage ratio (3) (4)	5.00x

(1) Defined generally as the ratio of adjusted EBITDA to cash interest expense.

(2) Defined generally as the ratio of total first priority secured indebtedness to adjusted EBITDA.

(3) Defined generally as the ratio of total indebtedness (net of unrestricted cash, subject to certain limits) to adjusted EBITDA.

(4) Was 5.25x immediately prior to the quarter ended October 31, 2022 and will be 4.75x beginning with the quarter ended April 30, 2023.

Scheduled Annual Principal Payments On Long-term Debt

	Scheduled
Payment due by fiscal year	principal payments
2023	$	838
2024		1,797
2025		1,667
2026		651,285
2027		550
Thereafter		825,339
Total	$	1,481,476