XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2022
Cash flows from operating activities:      
Net income $ 1,362,347 $ 1,237,741 $ 1,090,130
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization, including debt cost 190,256 159,684 138,605
Allowance for credit losses 3,914 1,946 1,349
Gain on extinguishment of liabilities (4,058) 0 0
Equity in losses of unconsolidated affiliates 2,241 5,347 284
Stock-based compensation 35,234 39,673 38,965
Gain on sale of property and equipment (2,386) (1,846) (939)
Loss on extinguishment of debt 0 0 16,759
Deferred income (benefits) taxes (847) 9,946 17,017
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable (145,385) (123,207) (97,750)
Vehicle pooling costs (9,542) (10,989) (18,342)
Inventories (3,698) 26,549 (10,851)
Prepaid expenses and other current and non-current assets (71,067) (59,949) (5,156)
Operating lease right-of-use assets and lease liabilities 1,064 350 715
Accounts payable and accrued liabilities 59,528 18,010 36,306
Deferred revenue 1,867 5,896 (574)
Income taxes receivable 6,561 33,193 (29,884)
Income taxes payable 46,535 21,866 49
Net cash provided by operating activities 1,472,564 1,364,210 1,176,683
Cash flows from investing activities:      
Purchases of property and equipment (510,990) (516,636) (337,448)
Assets and liabilities acquired in connection with acquisition 17,662    
Assets and liabilities acquired in connection with acquisition   0 (106,604)
Proceeds from sale of property and equipment 4,166 33,919 4,333
Investment in held to maturity securities (4,087,162) (1,406,588) (374,866)
Proceeds from the sale of held to maturity securities 3,645,000 0 374,866
Investment in unconsolidated affiliate (8,755) (2,744) (2,591)
Net cash used in investing activities (940,079) (1,892,049) (442,310)
Cash flows from financing activities:      
Proceeds from the exercise of stock options 24,260 49,679 28,108
Proceeds from the issuance of Employee Stock Purchase Plan shares 12,406 11,098 9,625
Payments for employee stock-based tax withholdings (6,558) (4,709) (1,925)
Issuance of principal on revolver facility 0 44,494 0
Principal payments on revolver facility (10,821) (33,924) 0
Debt offering costs 0 0 (1,212)
Principal payments on long-term debt 0 0 (416,759)
Payments of finance lease obligations (14) (23) (530)
Net cash provided by (used in) financing activities 19,273 66,615 (382,693)
Effect of foreign currency translation 4,958 34,383 (15,704)
Net (decrease) increase in cash, cash equivalents, and restricted cash 556,716 (426,841) 335,976
Cash, cash equivalents, and restricted cash at beginning of period 957,395 1,384,236 1,048,260
Cash, cash equivalents, and restricted cash at end of period 1,514,111 957,395 1,384,236
Supplemental disclosure of cash flow information:      
Interest paid 3,127 2,614 18,539
Income taxes paid, net of refunds $ 285,891 $ 257,514 $ 263,226