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Income Taxes (Tables) | 12 Months Ended
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Jul. 31, 2013
Schedule of Components of Provision (Benefit) for Income Taxes from Continuing Operations | The components of the provision (benefit) for income taxes from continuing operations are as follows:
Income Taxes: |  | July 31, 2013 |  |  | July 31, 2012 |  |  | July 31, 2011 |
Federal |  | $ | 74,610 |  |  | $ | 52,665 |  |  | $ | 43,787 |
State and local |  |  | 4,187 |  |  |  | 4,250 |  |  |  | (151) |
Total current expense (benefit) |  |  | 78,797 |  |  |  | 56,915 |  |  |  | 43,636 |
Federal |  |  | (7,712) |  |  |  | (2,888) |  |  |  | (3,049) |
State and local |  |  | (789) |  |  |  | (74) |  |  |  | 103 |
Total deferred expense (benefit) |  |  | (8,501) |  |  |  | (2,962) |  |  |  | (2,946) |
Total income tax expense |  | $ | 70,296 |  |  | $ | 53,953 |  |  | $ | 40,690 |
Schedule of Differences between Income Taxes at Federal Statutory Rate and Actual Income Taxes | The differences between income taxes at the federal statutory rate and the actual income taxes are as follows:
|  | July 31, 2013 |  |  | July 31, 2012 |  |  | July 31, 2011 |
Provision at federal statutory rate |  | $ | 77,691 |  |  | $ | 57,886 |  |  | $ | 46,318 |
State and local income taxes, net of federal benefit |  |  | 2,815 |  |  |  | 846 |  |  |  | 590 |
Federal income tax credits and incentives |  |  | (2,468) |  |  |  | (831) |  |  |  | (1,697) |
Domestic production activities deduction |  |  | (7,303) |  |  |  | (5,145) |  |  |  | (4,574) |
Change in uncertain tax positions |  |  | (718) |  |  |  | 1,879 |  |  |  | (1,107) |
Executive compensation limitation |  |  | – |  |  |  | 38 |  |  |  | – |
Reduction of excess current tax payable and deferred tax liabilities |  |  | 13 |  |  |  | (1,018) |  |  |  | (48) |
Other permanent items |  |  | 266 |  |  |  | 298 |  |  |  | 1,208 |
Total income tax expense |  | $ | 70,296 |  |  | $ | 53,953 |  |  | $ | 40,690 |
Schedule of Deferred Income Taxes |
A summary of deferred income taxes is as follows: |  | July 31, |  |  | July 31, |
|  | 2013 |  |  | 2012 |
Current deferred tax asset (liability): |  |  |  |  |  |  |  |
Inventory basis |  | $ | (314) |  |  | $ | (589) |
Employee benefits |  |  | 2,215 |  |  |  | 2,026 |
Self-insurance reserves |  |  | 8,333 |  |  |  | 8,556 |
Accrued product warranties |  |  | 30,802 |  |  |  | 26,690 |
Accrued incentives |  |  | 2,672 |  |  |  | 2,369 |
Sales returns and allowances |  |  | 1,381 |  |  |  | 1,145 |
Accrued expenses |  |  | 2,145 |  |  |  | 1,399 |
Unrecognized tax benefits |  |  | 984 |  |  |  | 963 |
Other |  |  | (1,700) |  |  |  | (1,662) |
Total current net deferred tax asset |  | $ | 46,518 |  |  | $ | 40,897 |
Long-term deferred tax asset (liability): |  |  |  |  |  |  |  |
Property basis |  |  | (2,007) |  |  |  | (4,482) |
Investments |  |  | (121) |  |  |  | (433) |
Deferred compensation |  |  | 3,349 |  |  |  | 5,069 |
Tax credit carryforwards |  |  | 547 |  |  |  | – |
Intangibles |  |  | (33,464) |  |  |  | (35,524) |
Unrecognized tax benefits |  |  | 13,136 |  |  |  | 14,436 |
Total net long-term deferred tax asset (liability) |  |  | (18,560) |  |  |  | (20,934) |
Net deferred tax asset |  | $ | 27,958 |  |  | $ | 19,963 |
Schedule of Changes in Unrecognized Tax Benefit | Changes in the unrecognized tax benefit during fiscal year 2013, 2012 and 2011 were as follows:
|  | 2013 Unrecognized Tax Benefit |  |  | 2012 Unrecognized Tax Benefit |  |  | 2011 Unrecognized Tax Benefit |
Beginning balance |  |  |  | $ | 33,900 |  |  |  |  | $ | 32,174 |  |  |  |  | $ | 31,039 |
Tax positions related to prior years: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions |  |  |  |  | 436 |  |  |  |  |  | 562 |  |  |  |  |  | 1,817 |
Reductions |  |  |  |  | (113) |  |  |  |  |  | (284) |  |  |  |  |  | (1,062) |
Tax positions related to current year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions |  |  |  |  | 5,348 |  |  |  |  |  | 3,995 |  |  |  |  |  | 3,713 |
Settlements |  |  |  |  | (5,593) |  |  |  |  |  | (1,364) |  |  |  |  |  | (2,642) |
Lapses in statute of limitations |  |  |  |  | (1,245) |  |  |  |  |  | (1,183) |  |  |  |  |  | (691) |
Ending balance |  |  |  | $ | 32,733 |  |  |  |  | $ | 33,900 |  |  |  |  | $ | 32,174 |
Components of Total Unrecognized Tax Benefits | The components of total unrecognized tax benefits are summarized as follows:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Unrecognized tax benefits |  |  |  | $ | 32,733 |  |  |  |  | $ | 33,900 |  |  |  |  | $ | 32,174 |
Reduction to unrecognized tax benefits for tax credit carry forward |  |  |  |  | (440) |  |  |  |  |  | – |  |  |  |  |  | – |
Accrued interest and penalties |  |  |  |  | 11,671 |  |  |  |  |  | 13,265 |  |  |  |  |  | 12,533 |
Total unrecognized tax benefits |  |  |  | $ | 43,964 |  |  |  |  | $ | 47,165 |  |  |  |  | $ | 44,707 |
Short term, included in “Income and other taxes” |  |  |  | $ | 2,745 |  |  |  |  | $ | 2,649 |  |  |  |  | $ | 1,683 |
Long term |  |  |  |  | 41,219 |  |  |  |  |  | 44,516 |  |  |  |  |  | 43,024 |
Total unrecognized tax benefits |  |  |  | $ | 43,964 |  |  |  |  | $ | 47,165 |  |  |  |  | $ | 44,707 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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