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Stockholder's Equity (Tables) | 12 Months Ended
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Jul. 31, 2023
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 2021—Q4 |  | 360,000 |  |  | 4.43 |  |  | 49,464 |  |  | 117,396 |  |  | 193,140 |  |  | 32.25 |  |  | 3,786 |
FY 2022 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
FY 2023 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(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) |  | 2023 |  | 2022 |  | 2021
General and administrative |  | $ | 32,747 |  |  | $ | 33,838 |  |  | $ | 35,633 |
Yard operations |  | 6,926 |  |  | 5,127 |  |  | 5,289 |
Total stock-based compensation |  | $ | 39,673 |  |  | $ | 38,965 |  |  | $ | 40,922 |
Schedule of Fair Value Assumptions | The Black-Scholes Merton option-pricing model utilized the following assumptions:
|  | July 31, |
|  | 2023 |  | 2022 |  | 2021
Expected life (in years) |  | 5.0 |  | — |  | 6.3 |  |  | 5.1 |  | — |  | 6.8 |  |  | 5.2 |  | — |  | 6.3 |
Risk-free interest rate |  | 3.67 |  | % | — |  | 3.88 |  | % |  | 0.82 |  | % | — |  | 2.70 |  | % |  | 0.42 |  | % | — |  | 1.23 |  | %
Estimated volatility |  | 29.6 |  | % | — |  | 32.0 |  | % |  | 27.9 |  | % | — |  | 30.0 |  | % |  | 26.3 |  | % | — |  | 28.7 |  | %
Expected dividends |  | — |  | % |  | — |  | % |  | — |  | %
Weighted average fair value at measurement date |  | $ | 12.10 |  |  |  | $ | 10.59 |  |  |  | $ | 7.61 |  |
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, 2023 was as follows:
(In thousands, except per share amounts) |  | Shares |  | Weighted Average Grant- date Fair Value
Unvested shares at July 31, 2022 |  | 9,576 |  |  | $ | 7.43 |
Grants of non-vested shares |  | 887 |  |  | 12.94 |
Vested |  | (3,617) |  |  | 6.78 |
Forfeitures or expirations |  | (1,076) |  |  | 7.22 |
Unvested shares at July 31, 2023 |  | 5,770 |  |  | $ | 8.72 |
Schedule of Option Activity | The following is a summary of activity for the Company’s stock options for the year ended July 31, 2023:
(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, 2022 |  | 22,788 |  |  | $ | 14.66 |  |  | 5.50 |  | $ | 398,331 |
Grants of options |  | 588 |  |  | 32.75 |  |  |  |  |
Exercises |  | (4,474) |  |  | 11.10 |  |  |  |  |
Forfeitures or expirations |  | (1,077) |  |  | 25.80 |  |  |  |  |
Outstanding as of July 31, 2023 |  | 17,825 |  |  | $ | 15.47 |  |  | 4.67 |  | $ | 512,045 |
Exercisable as of July 31, 2023 |  | 15,033 |  |  | $ | 13.53 |  |  | 4.14 |  | $ | 460,993 |
Vested and expected to vest as of July 31, 2023 |  | 17,728 |  |  | $ | 15.41 |  |  | 4.66 |  | $ | 510,333 |
The following is a summary of activity for the Company’s stock option awards subject to market conditions for the year ended July 31, 2023:
(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, 2022 |  | 5,620 |  |  | $ | 23.91 |  |  | 8.33 |  | $ | 45,590 |
Grants of options |  | 300 |  |  | 32.85 |  |  |  |  |
Exercises |  | — |  |  | — |  |  |  |  |
Forfeitures or expirations |  | — |  |  | — |  |  |  |  |
Outstanding as of July 31, 2023 |  | 5,920 |  |  | $ | 24.37 |  |  | 7.43 |  | $ | 117,389 |
Exercisable as of July 31, 2023 |  | 2,941 |  |  | $ | 22.65 |  |  | 7.11 |  | $ | 63,356 |
Vested and expected to vest as of July 31, 2023 |  | 5,901 |  |  | $ | 24.36 |  |  | 7.43 |  | $ | 117,059 |
Schedule of Stock Options Outstanding and Exercisable | The following table summarizes stock options outstanding and exercisable as of July 31, 2023:
(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
$4.37 | — | $4.56 |  | 2,597 |  |  | 1.66 |  | $ | 4.47 |  |  | 2,597 |  |  | $ | 4.47 |
$4.65 | — | $8.70 |  | 3,014 |  |  | 3.32 |  | 6.98 |  |  | 3,014 |  |  | 6.98 |
$9.08 | — | $21.26 |  | 10,821 |  |  | 5.62 |  | 15.91 |  |  | 8,636 |  |  | 15.04 |
$22.15 | — | $36.41 |  | 7,313 |  |  | 7.13 |  | 29.42 |  |  | 3,727 |  |  | 28.85 |
Outstanding as of July 31, 2023 |  | 23,745 |  |  | 5.36 |  | $ | 17.69 |  |  | 17,974 |  |  | $ | 15.02 |
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, 2023:
(In thousands, except per share data) |  | Restricted Shares |  | Weighted Average Grant Date Fair Value
Outstanding as of July 31, 2022 |  | 708 |  |  | $ | 30.14 |
Grants |  | 539 |  |  | 32.52 |
Vested |  | (384) |  |  | 30.63 |
Forfeitures or expirations |  | (63) |  |  | 26.89 |
Outstanding as of July 31, 2023 |  | 800 |  |  | $ | 31.77 |

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