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Stock Compensation Plan (Tables)

12 Months Ended

Jul. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule Of Share Based Compensation Valuation Model

The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.

	Year Ended July 31,
	2020	2019	2018
Expected volatility	29.7%	38.6%	40.0%
Expected dividends	2.8%	2.1%	2.0%
Expected term (average in years)	6.5-7.1	6.0-6.6	5.8-6.4
Risk-free rate	1.8-2.0%	2.4-2.9%	1.2-2.3%

Schedule Of Share Based Compensation Option And SARs Award Activity

A summary of aggregate SARs award activity under the Plan as of July 31, 2020, 2019 and 2018, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):

	Awards		Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at August 1, 2017	2,290		$	59.12
Granted	86		$	237.86
Exercised	(1,049	)	$	33.25
Forfeited or expired	(3	)	$	172.03
Outstanding at July 31, 2018	1,324		$	91.01
Granted	80		$	293.82
Exercised	(219	)	$	49.09
Forfeited or expired	(14	)	$	217.58
Outstanding at July 31, 2019	1,171		$	111.12
Granted	146		$	245.26
Exercised	(247	)	$	67.19
Forfeited or expired	(9	)	$	252.75
Outstanding at July 31, 2020	1,061		$	138.59		5.0 years	$	75,736
Vested and expected to vest at July 31, 2020	1,042		$	136.66		4.9 years	$	75,736
Exercisable at July 31, 2020	846		$	108.73		4.1 years	$	75,736

Schedule of Share Based Compensation SARs Activity

A summary of the status of the Company’s nonvested SARs as of July 31, 2020 and changes during the year then ended is presented below (in thousands, except fair value amounts):

	Awards	Weighted-Average Grant-Date Fair Value
Outstanding at July 31, 2019	168	$	80.75
Granted	146	$	58.25
Vested	(91)	$	71.57
Forfeited	(8)	$	79.23
Nonvested at July 31, 2020	215	$	69.45

Schedule Of Share Based Compensation Restricted Stock Units Activity

A summary of the status of the Company’s nonvested restricted share units as of July 31, 2020 and changes during the year then ended is presented below (in thousands, except fair value amounts):

	Awards	Weighted-Average Grant-Date Fair Value
Nonvested at July 31, 2019	126	$	230.10
Granted	83	$	217.46
Vested	(63)	$	216.07
Forfeited	(16)	$	229.97
Nonvested at July 31, 2020	130	$	228.77

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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