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Income Taxes (Tables)
 12 Months Ended
Jul. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of income from continuing operations before taxes Income before taxes consisted of the following:
Year Ended July 31,
(In thousands)202220212020
U.S.$1,241,177 $1,022,134 $740,171 
International99,777 99,712 60,668 
Total income before taxes$1,340,954 $1,121,846 $800,839 
Schedule of income tax expense (benefit) from continuing operations Income tax expense (benefit) from continuing operations consisted of the following:
Year Ended July 31,
(In thousands)202220212020
Federal:   
Current$179,840 $135,216 $53,942 
Deferred14,115 (4,259)21,019 
 193,955 130,957 74,961 
State:   
Current33,078 34,302 12,095 
Deferred1,689 (3,489)565 
 34,767 30,813 12,660 
International:   
Current23,247 23,575 13,333 
Deferred(1,145)6 (22)
 22,102 23,581 13,311 
Income tax expense$250,824 $185,351 $100,932 
Schedule of reconciliation of Income tax A reconciliation of the expected U.S. statutory tax rate to the actual effective income tax rate is as follows:
Year Ended July 31,
(In thousands)202220212020
Federal statutory rate21.0 %21.0 %21.0 %
State income taxes, net of federal income tax benefit1.3 %1.5 %1.6 %
International rate differential(0.5)%(0.5)%0.1 %
Compensation and fringe benefits (1)
(0.6)%(1.9)%(11.2)%
FDII and/or GILTI(2.8)%(3.1)%(0.3)%
Federal return to provision adjustment0.6 %(1.8)%— %
Federal amended return adjustment
(1.3)%— %— %
Other differences1.0 %1.3 %1.4 %
Effective tax rate18.7 %16.5 %12.6 %
(1)Included in the compensation and fringe benefits rate reconciliation is the impact of the Company’s adoption of ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. Under this standard, all excess tax benefits and tax deficiencies related to exercises of stock options are recognized as income tax expense or benefit in the income statement as discrete items in the reporting period in which they occur.
Schedule of tax effects on deferred tax assets and deferred tax liabilities The tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) are presented below:
July 31,
(In thousands)20222021
Deferred tax assets:  
Allowance for credit loss$1,210 $942 
Accrued compensation and benefits16,965 15,541 
State taxes— — 
Operating lease liabilities24,379 25,176 
Accrued other5,053 4,551 
Deferred revenue4,560 4,239 
Losses carried forward29,936 24,384 
Federal tax benefit14,542 12,242 
Total gross deferred tax assets96,645 87,075 
Less: Valuation allowance(29,171)(24,987)
Net deferred tax assets67,474 62,088 
Deferred tax liabilities:  
Vehicle pooling costs(23,655)(20,241)
Property and equipment(72,975)(55,047)
Operating lease right-of-use assets(24,369)(25,253)
Other prepaids(728)(461)
Intangibles and goodwill(25,431)(24,602)
Total gross deferred tax liabilities(147,158)(125,604)
Net deferred tax liabilities$(79,684)$(63,516)
Schedule of unrecognized tax benefits The following table summarizes the activities related to the Company’s unrecognized tax benefits resulting from uncertain tax positions.
July 31,
(In thousands)202220212020
Beginning balance$47,061 $36,123 $27,537 
Increases related to current year tax positions14,809 13,122 8,196 
Prior year tax positions:   
Increases recognized during the period1,393 8,782 6,390 
Decreases recognized during the period(2,163)(5,749)(1,603)
Cash settlements during the period(3,524)(3,261)(1,182)
Lapse of statute of limitations(1,822)(1,956)(3,215)
Ending balance$55,754 $47,061 $36,123