XML 20 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Cash flows from operating activities:    
Net income $ 539,525 $ 547,775
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including debt cost 78,094 65,627
Allowance for credit loss 2,133 1,695
Equity in losses of unconsolidated affiliates 4,030 685
Stock-based compensation 20,323 19,114
Gain on sale of property and equipment (748) (755)
Deferred income taxes (3,309) 6,003
Changes in operating assets and liabilities:    
Accounts receivable (186,559) (152,763)
Vehicle pooling costs (21,268) (29,623)
Inventories 8,001 (8,589)
Prepaid expenses, other current and non-current assets (29,176) (19,889)
Operating lease right-of-use assets and lease liabilities 414 657
Accounts payable and accrued liabilities 27,619 10,741
Deferred revenue 3,709 (309)
Income taxes receivable 49,430 4,577
Income taxes payable 7,615 1,655
Other liabilities 0 (53)
Net cash provided by operating activities 499,833 446,548
Cash flows from investing activities:    
Purchases of property and equipment (256,719) (156,200)
Purchase of assets in connection with acquisitions 0 (469)
Proceeds from sale of property and equipment 16,343 1,252
Investment in unconsolidated affiliate 1,993 0
Purchase of held to maturity securities 0 (374,866)
Net cash used in investing activities (242,369) (530,283)
Cash flows from financing activities:    
Proceeds from the exercise of stock options 10,815 11,985
Proceeds from the issuance of Employee Stock Purchase Plan shares 5,363 5,022
Payments for employee stock-based tax withholdings (831) (599)
Payments of finance lease obligations (13) (314)
Net cash provided by financing activities 15,334 16,094
Effect of foreign currency translation 3,918 (8,968)
Net increase (decrease) in cash, cash equivalents, and restricted cash 276,716 (76,609)
Cash, cash equivalents, and restricted cash at beginning of period 1,384,236 1,048,260
Cash, cash equivalents, and restricted cash at end of period 1,660,952 971,651
Supplemental disclosure of cash flow information:    
Interest paid 706 9,311
Income taxes paid, net of refunds $ 98,324 $ 128,972