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Stockholder's Equity (Tables)

12 Months Ended

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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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested shares.

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