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Stockholder's Equity (Tables) | 12 Months Ended
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Jul. 31, 2022
Equity [Abstract] |
Schedule of stock options exercised utilizing a cashless exercise | The exercised stock options, utilizing a cashless exercise, are summarized in the following table:
Period |  | Options Exercised |  | Weighted Average Exercise Price |  | Shares Net Settled for Exercise |  | Shares Withheld for Taxes (1) |  | Net Shares to Employees |  | Weighted Average Share Price for Withholding |  | Employee Stock-Based Tax Withholding (in 000s)
FY 2020—Q1 |  | 4,000,000 |  |  | $ | 17.81 |  |  | 865,719 |  |  | 1,231,595 |  |  | 1,902,686 |  |  | $ | 82.29 |  |  | $ | 101,348 |
FY 2021—Q4 |  | 90,000 |  |  | 17.73 |  |  | 12,366 |  |  | 29,349 |  |  | 48,285 |  |  | 129.01 |  |  | 3,786 |
FY 2022 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(1)Shares withheld for taxes are treated as a repurchase of shares for accounting purposes but do not count against the Company’s stock repurchase program.
Schedule of share-based compensation expense | The table below sets forth the stock-based compensation recognized by the Company for stock options, restricted stock, and restricted unit awards:
|  | Year Ended July 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
General and administrative |  | $ | 33,838 |  |  | $ | 35,633 |  |  | $ | 17,567 |
Yard operations |  | 5,127 |  |  | 5,289 |  |  | 5,755 |
Total stock-based compensation |  | $ | 38,965 |  |  | $ | 40,922 |  |  | $ | 23,322 |
Schedule of fair value assumptions | The Black-Scholes Merton option-pricing model utilized the following assumptions:
|  | July 31, |
|  | 2022 |  | 2021 |  | 2020
Expected life (in years) |  | 5.1 |  | — |  | 6.8 |  |  | 5.2 |  | — |  | 6.3 |  |  | 5.4 |  | — |  | 5.7 |
Risk-free interest rate |  | 0.82 |  | % | — |  | 2.7 |  | % |  | 0.42 |  | % | — |  | 1.23 |  | % |  | 0.29 |  | % | — |  | 1.67 |  | %
Estimated volatility |  | 27.9 |  | % | — |  | 30.0 |  | % |  | 26.3 |  | % | — |  | 28.7 |  | % |  | 21.7 |  | % | — |  | 27.6 |  | %
Expected dividends |  | — |  | % |  | — |  | % |  | — |  | %
Weighted average fair value at measurement date |  | $ | 42.37 |  |  |  | $ | 30.43 |  |  |  | $ | 21.54 |  |
Schedule of non-vested shares | A summary of the status of the Company’s unvested stock options awards and its activity during the year ended July 31, 2022 was as follows:
(In thousands, except per share amounts) |  | Shares |  | Weighted Average Grant- date Fair Value
Unvested shares at July 31, 2021 |  | 3,261 |  |  | $ | 22.80 |
Grants of non-vested shares |  | 665 |  |  | 44.94 |
Vested |  | (1,331) |  |  | 21.72 |
Forfeitures or expirations |  | (201) |  |  | 18.36 |
Unvested shares at July 31, 2022 |  | 2,394 |  |  | $ | 29.71 |
Schedule of option activity | The following is a summary of activity for the Company’s stock options for the year ended July 31, 2022:
(In thousands, except per share and term data) |  | Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (In years) |  | Aggregate Intrinsic Value
Outstanding as of July 31, 2021 |  | 6,427 |  |  | $ | 50.69 |  |  | 5.69 |  | $ | 619,019 |
Grants of options |  | 340 |  |  | 133.96 |  |  |  |  |
Exercises |  | (905) |  |  | 31.06 |  |  |  |  |
Forfeitures or expirations |  | (165) |  |  | 56.11 |  |  |  |  |
Outstanding as of July 31, 2022 |  | 5,697 |  |  | $ | 58.62 |  |  | 5.50 |  | $ | 398,331 |
Exercisable as of July 31, 2022 |  | 4,270 |  |  | $ | 47.28 |  |  | 4.73 |  | $ | 346,616 |
Vested and expected to vest as of July 31, 2022 |  | 5,637 |  |  | $ | 58.12 |  |  | 5.47 |  | $ | 396,947 |
The following is a summary of activity for the Company’s stock option awards subject to market conditions for the year ended July 31, 2022:
(In thousands, except per share and term data) |  | Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (In years) |  | Aggregate Intrinsic Value
Outstanding as of July 31, 2021 |  | 1,130 |  |  | $ | 87.49 |  |  | 8.96 |  | $ | 67,250 |
Grants of options |  | 325 |  |  | 125.68 |  |  |  |  |
Exercises |  | — |  |  | — |  |  |  |  |
Forfeitures or expirations |  | (50) |  |  | 106.31 |  |  |  |  |
Outstanding as of July 31, 2022 |  | 1,405 |  |  | $ | 95.65 |  |  | 8.33 |  | $ | 45,590 |
Exercisable as of July 31, 2022 |  | 438 |  |  | $ | 86.08 |  |  | 7.91 |  | $ | 18,406 |
Vested and expected to vest as of July 31, 2022 |  | 1,396 |  |  | $ | 95.59 |  |  | 8.33 |  | $ | 45,402 |
Schedule of stock options outstanding and exercisable | The following table summarizes stock options outstanding and exercisable as of July 31, 2022:
(In thousands, except per share amounts) |  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price |  | Number |  | Weighted Average Exercise Price
$17.47 | — | $18.23 |  | 929 |  |  | 2.53 |  | $ | 17.88 |  |  | 929 |  |  | $ | 17.88 |
$18.61 | — | $31.24 |  | 726 |  |  | 3.80 |  | 23.73 |  |  | 726 |  |  | 23.73 |
$33.74 | — | $83.27 |  | 2,389 |  |  | 5.71 |  | 48.35 |  |  | 1,875 |  |  | 46.23 |
$85.04 | — | $145.62 |  | 3,058 |  |  | 7.94 |  | 104.30 |  |  | 1,178 |  |  | 101.06 |
Outstanding as of July 31, 2022 |  | 7,102 |  |  | 6.06 |  | $ | 65.94 |  |  | 4,708 |  |  | $ | 50.89 |
Schedule of restricted stock activity | The following is a summary of activity for the Company’s RSA’s and RSU’s for the for the year ended July 31, 2022:
(In thousands, except per share data) |  | Restricted Shares |  | Weighted Average Grant Date Fair Value
Outstanding as of July 31, 2021 |  | 102 |  |  | $ | 90.46 |
Grants |  | 142 |  |  | 133.53 |
Vested |  | (49) |  |  | 98.96 |
Forfeitures or expirations |  | (18) |  |  | 112.18 |
Outstanding as of July 31, 2022 |  | 177 |  |  | $ | 120.56 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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