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v3.7.0.1

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Jul. 31, 2017 | Jul. 31, 2016 | Jul. 31, 2015
Service revenues and vehicle sales: |  |  |
Service revenues | $ 1,286,252 | $ 1,104,379 | $ 985,363
Vehicle sales | 161,729 | 164,070 | 160,716
Total service revenues and vehicle sales | 1,447,981 | 1,268,449 | 1,146,079
Operating expenses: |  |  |
Yard operations | 678,401 | 582,904 | 526,291
Cost of vehicle sales | 137,552 | 140,959 | 136,412
General and administrative | 151,364 | 138,116 | 138,975
Impairment of long-lived assets | 19,365 | 0 | 0
Total operating expenses | 986,682 | 861,979 | 801,678
Operating income | 461,299 | 406,470 | 344,401
Other (expense) income: |  |  |
Interest expense | (23,779) | (23,606) | (18,121)
Interest income | 1,406 | 1,449 | 817
Other income, net | 1,174 | 11,552 | 4,972
Total other expense | (21,199) | (10,605) | (12,332)
Income before income tax expense | 440,100 | 395,865 | 332,069
Income tax expense | 45,839 | 125,505 | 112,286
Net income | 394,261 | 270,360 | 219,783
Net income attributable to noncontrolling interest | 34 | 0 | 0
Net income attributable to Copart, Inc. | $ 394,227 | $ 270,360 | $ 219,783
Basic net income per common share | $ 1.72 | $ 1.18 | $ 0.87
Weighted average common shares outstanding | 228,686 | 228,846 | 251,829
Diluted net income per common share | $ 1.66 | $ 1.11 | $ 0.84
Diluted weighted average common shares outstanding | 237,019 | 244,295 | 262,851

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