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Convertible Senior Notes (Tables) | 3 Months Ended
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Oct. 31, 2022
Debt Disclosure [Abstract] |
Schedule of convertible debt | The net carrying value of the liability component, unamortized debt discount and unamortized debt issuance costs of the Convertible Senior Notes was as follows (in thousands):
| October 31, 2022 |  | July 31, 2022
Principal | $ | 400,000 |  |  | $ | 400,000 |
Less unamortized: |  |  |
Debt discount(1) | — |  |  | 37,253 |
Debt issuance costs | 4,109 |  |  | 4,531 |
Net carrying amount | $ | 395,891 |  |  | $ | 358,216 |
(1) Effective August 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method which resulted in the accounting for the Convertible Senior Notes as a single liability and no longer required the liability and equity components to be accounted for separately. The prior period has not been retrospectively adjusted and continues to be reported under the accounting standards in effect for that period. The effective interest rate of the Convertible Senior Notes after the adoption of ASU 2020-06 on August 1, 2022 is 1.69%. Prior to the adoption of ASU 2020-06, the effective interest rate of the Convertible Senior Notes was 5.53%. The following table sets forth the interest expense recognized related to the Convertible Senior Notes (in thousands):
| Three Months Ended October 31, |  |
| 2022 |  | 2021 |  |  |  |
Contractual interest expense | $ | 1,250 |  |  | $ | 1,250 |  |  |  |  |
Amortization of debt discount(1) | — |  |  | 3,176 |  |  |  |  |
Amortization of debt issuance costs | 423 |  |  | 348 |  |  |  |  |
Total | $ | 1,673 |  |  | $ | 4,774 |  |  |  |  |
(1) Effective August 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method which resulted in the accounting for the Convertible Senior Notes as a single liability and no longer required the amortization of debt discount. The prior period has not been retrospectively adjusted and continues to be reported under the accounting standards in effect for that period.

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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- References No definition available. + Details
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