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LEASES | 12 Months Ended
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Jul. 31, 2023
Leases [Abstract] |
LEASES | LEASES The Company has operating leases primarily for land, buildings and equipment and has various finance leases for certain land and buildings principally expiring through 2035. Certain of the Company's leases include options to extend or terminate the leases and these options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised. The Company does not include significant restrictions or covenants in our lease agreements, and residual value guarantees are not generally included within our operating leases. The components of lease costs for the fiscal years ended July 31, 2023, July 31, 2022 and July 31, 2021 were as follows:
| Fiscal Year Ended July 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 30,200 |  |  | $ | 27,391 |  |  | $ | 18,140 |
Finance lease cost |  |  |  |  |
Amortization of right-of-use assets | 746 |  |  | 746 |  |  | 662 |
Interest on lease liabilities | 388 |  |  | 471 |  |  | 520 |
Total lease cost | $ | 31,334 |  |  | $ | 28,608 |  |  | $ | 19,322 |
Other information related to leases was as follows:
| Fiscal Year Ended July 31,
Supplemental Cash Flow Information | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 30,089 |  |  | $ | 27,364 |  |  | $ | 18,054 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 15,426 |  |  | $ | 21,258 |  |  | $ | 16,636 |
Finance leases | $ | — |  |  | $ | — |  |  | $ | 4,000 |
| July 31,
Supplemental Balance Sheet Information | 2023 |  | 2022
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 47,969 |  |  | $ | 44,407 |
Operating lease liabilities |  |  |
Other current liabilities | $ | 11,238 |  |  | $ | 9,406 |
Other long-term liabilities | 36,775 |  |  | 34,830 |
Total operating lease liabilities | $ | 48,013 |  |  | $ | 44,236 |
Finance leases: |  |  |
Finance lease right-of-use assets | $ | 5,518 |  |  | $ | 6,264 |
Finance lease liabilities |  |  |
Other current liabilities | $ | 754 |  |  | $ | 1,215 |
Other long-term liabilities | 2,722 |  |  | 3,476 |
Total finance lease liabilities | $ | 3,476 |  |  | $ | 4,691 |
| July 31,
| 2023 |  | 2022
Weighted-average remaining lease term |  |  |
Operating leases | 9.3 years |  | 10.2 years
Finance leases | 3.8 years |  | 4.4 years
Weighted-average discount rate |  |  |
Operating leases | 4.7 | % |  | 3.6 | %
Finance leases | 9.7 | % |  | 9.2 | %
Future minimum rental payments required under operating and finance leases as of July 31, 2023 were as follows:
|  | Operating Leases |  | Finance Leases
For the fiscal year ending July 31, 2024 |  | $ | 17,423 |  |  | $ | 1,059 |
For the fiscal year ending July 31, 2025 |  | 13,134 |  |  | 1,083 |
For the fiscal year ending July 31, 2026 |  | 9,098 |  |  | 1,107 |
For the fiscal year ending July 31, 2027 |  | 6,495 |  |  | 896 |
For the fiscal year ending July 31, 2028 |  | 4,302 |  |  | 58 |
For the fiscal year ending July 31, 2029 and thereafter |  | 16,546 |  |  | — |
Total future lease payments |  | $ | 66,998 |  |  | $ | 4,203 |
Less: amount representing interest |  | (18,985) |  |  | (727) |
Total reported lease liability |  | $ | 48,013 |  |  | $ | 3,476 |
LEASES | LEASES The Company has operating leases primarily for land, buildings and equipment and has various finance leases for certain land and buildings principally expiring through 2035. Certain of the Company's leases include options to extend or terminate the leases and these options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised. The Company does not include significant restrictions or covenants in our lease agreements, and residual value guarantees are not generally included within our operating leases. The components of lease costs for the fiscal years ended July 31, 2023, July 31, 2022 and July 31, 2021 were as follows:
| Fiscal Year Ended July 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 30,200 |  |  | $ | 27,391 |  |  | $ | 18,140 |
Finance lease cost |  |  |  |  |
Amortization of right-of-use assets | 746 |  |  | 746 |  |  | 662 |
Interest on lease liabilities | 388 |  |  | 471 |  |  | 520 |
Total lease cost | $ | 31,334 |  |  | $ | 28,608 |  |  | $ | 19,322 |
Other information related to leases was as follows:
| Fiscal Year Ended July 31,
Supplemental Cash Flow Information | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 30,089 |  |  | $ | 27,364 |  |  | $ | 18,054 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 15,426 |  |  | $ | 21,258 |  |  | $ | 16,636 |
Finance leases | $ | — |  |  | $ | — |  |  | $ | 4,000 |
| July 31,
Supplemental Balance Sheet Information | 2023 |  | 2022
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 47,969 |  |  | $ | 44,407 |
Operating lease liabilities |  |  |
Other current liabilities | $ | 11,238 |  |  | $ | 9,406 |
Other long-term liabilities | 36,775 |  |  | 34,830 |
Total operating lease liabilities | $ | 48,013 |  |  | $ | 44,236 |
Finance leases: |  |  |
Finance lease right-of-use assets | $ | 5,518 |  |  | $ | 6,264 |
Finance lease liabilities |  |  |
Other current liabilities | $ | 754 |  |  | $ | 1,215 |
Other long-term liabilities | 2,722 |  |  | 3,476 |
Total finance lease liabilities | $ | 3,476 |  |  | $ | 4,691 |
| July 31,
| 2023 |  | 2022
Weighted-average remaining lease term |  |  |
Operating leases | 9.3 years |  | 10.2 years
Finance leases | 3.8 years |  | 4.4 years
Weighted-average discount rate |  |  |
Operating leases | 4.7 | % |  | 3.6 | %
Finance leases | 9.7 | % |  | 9.2 | %
Future minimum rental payments required under operating and finance leases as of July 31, 2023 were as follows:
|  | Operating Leases |  | Finance Leases
For the fiscal year ending July 31, 2024 |  | $ | 17,423 |  |  | $ | 1,059 |
For the fiscal year ending July 31, 2025 |  | 13,134 |  |  | 1,083 |
For the fiscal year ending July 31, 2026 |  | 9,098 |  |  | 1,107 |
For the fiscal year ending July 31, 2027 |  | 6,495 |  |  | 896 |
For the fiscal year ending July 31, 2028 |  | 4,302 |  |  | 58 |
For the fiscal year ending July 31, 2029 and thereafter |  | 16,546 |  |  | — |
Total future lease payments |  | $ | 66,998 |  |  | $ | 4,203 |
Less: amount representing interest |  | (18,985) |  |  | (727) |
Total reported lease liability |  | $ | 48,013 |  |  | $ | 3,476 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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