XML 28 R10.htm IDEA: XBRL DOCUMENT v3.23.3
Acquisitions
12 Months Ended
Jul. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions Acquisitions
Fiscal Year 2022 Transactions.

On July 5, 2022, the Company acquired 100% of the voting stock of ILT Project Limited which conducts business primarily as Hills Motors Co. the Green Parts Specialists (“Hills”), which is a leading parts recycler in the U.K. Hills predominantly sells recycled parts to the public. The purchase price paid for Hills was $106.6 million paid with cash on hand.

On July 14, 2023 the U.K. Competition and Markets Authority approved the merger of Copart and Hills. With the approval of the merger the Company finalized the allocation of the fair value for acquired assets and liabilities. The resulting impact to the balance sheet and income statement were immaterial.