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Stockholder's Investments (Tables) | 12 Months Ended
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Jul. 31, 2019
Equity [Abstract] |
Schedule of Capital Stock | Information as to the Company’s capital stock at July 31, 2019 and 2018 is as follows:
|  | July 31, 2019 |  | July 31, 2018
|  | Shares Authorized |  | Shares Issued |  | (thousands) Amount |  | Shares Authorized |  | Shares Issued |  | (thousands) Amount
Preferred Stock, $.01 par value |  | 5,000,000 |  |  |  |  |  |  | 5,000,000 |  |  |  |  |
Cumulative Preferred Stock: 6% Cumulative |  | 5,000 |  |  |  |  |  |  | 5,000 |  |  |  |  |
1972 Series |  | 10,000 |  |  |  |  |  |  | 10,000 |  |  |  |  |
1979 Series |  | 30,000 |  |  |  |  |  |  | 30,000 |  |  |  |  |
Common Stock, $.01 par value: Class A Nonvoting |  | 100,000,000 |  |  | 51,261,487 |  |  | $ | 513 |  |  | 100,000,000 |  |  | 51,261,487 |  |  | $ | 513 |
Class B Voting |  | 10,000,000 |  |  | 3,538,628 |  |  | 35 |  |  | 10,000,000 |  |  | 3,538,628 |  |  | 35 |
|  |  |  |  |  | $ | 548 |  |  |  |  |  |  | $ | 548 |
Schedule of Other Activity in Stockholders' Investment | The following is a summary of other activity in stockholders’ equity for the fiscal years ended July 31, 2019, 2018, and 2017:
|  | Deferred Compensation |  | Shares Held in Rabbi Trust, at cost |  | Total
Balances at July 31, 2016 |  | $ | 4,624 |  |  | $ | (8,487 | ) |  | $ | (3,863 | )
Shares at July 31, 2016 |  | 201,418 |  |  | 347,081 |  |  |
Sale of shares at cost |  | $ | (1,247 | ) |  | $ | 1,288 |  |  | $ | 41 |
Purchase of shares at cost |  | 315 |  |  | (925 | ) |  | (610 | )
Effect of plan amendment |  | 4,432 |  |  | — |  |  | 4,432 |
Balances at July 31, 2017 |  | $ | 8,124 |  |  | $ | (8,124 | ) |  | $ | — |
Shares at July 31, 2017 |  | 314,082 |  |  | 314,082 |  |  |
Sale of shares at cost |  | $ | (977 | ) |  | $ | 977 |  |  | $ | — |
Purchase of shares at cost |  | 1,075 |  |  | (1,075 | ) |  | — |
Balances at July 31, 2018 |  | $ | 8,222 |  |  | $ | (8,222 | ) |  | $ | — |
Shares at July 31, 2018 |  | 299,916 |  |  | 299,916 |  |  |
Sale of shares at cost |  | $ | (928 | ) |  | $ | 928 |  |  | $ | — |
Purchase of shares at cost |  | 1,212 |  |  | (1,212 | ) |  | — |
Balances at July 31, 2019 |  | $ | 8,506 |  |  | $ | (8,506 | ) |  | $ | — |
Shares at July 31, 2019 |  | 285,533 |  |  | 285,533 |  |  |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
Black-Scholes Option Valuation Assumptions |  | 2019 |  | 2018 |  | 2017
Expected term (in years) |  | 6.20 |  |  | 6.07 |  |  | 6.11 |
Expected volatility |  | 26.05 | % |  | 28.19 | % |  | 29.55 | %
Expected dividend yield |  | 2.71 | % |  | 2.72 | % |  | 2.70 | %
Risk-free interest rate |  | 3.01 | % |  | 1.96 | % |  | 1.26 | %
Weighted-average market value of underlying stock at grant date |  | $ | 43.96 |  |  | $ | 36.85 |  |  | $ | 35.14 |
Weighted-average exercise price |  | $ | 43.96 |  |  | $ | 36.85 |  |  | $ | 35.14 |
Weighted-average fair value of options granted during the period |  | $ | 9.70 |  |  | $ | 7.96 |  |  | $ | 7.56 |
Summary of Stock Option Activity under Company's Share-Based Compensation Plans | for the fiscal year ended July 31, 2019:
|  | Option Price |  | Options Outstanding |  | Weighted Average Exercise Price
Balance as of July 31, 2018 |  | $ | 19.96 |  | — | $38.83 |  | 2,504,633 |  |  | $ | 28.23 |
Options granted |  | 41.70 |  | — | 43.98 |  | 276,238 |  |  | 43.96 |
Options exercised |  | 19.96 |  | — | 36.85 |  | (1,154,343 | ) |  | 27.03 |
Options canceled |  | 20.95 |  | — | 43.98 |  | (31,812 | ) |  | 37.95 |
Balance as of July 31, 2019 |  | $ | 19.96 |  | — | $43.98 |  | 1,594,716 |  |  | $ | 31.63 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | The following table summarizes information about stock options outstanding at July 31, 2019:
|  | Options Outstanding |  | Options Outstanding and Exercisable
Range of Exercise Prices |  | Number of Shares Outstanding at July 31, 2019 |  | Weighted Average Remaining Contractual Life (in years) |  | Weighted Average Exercise Price |  | Shares Exercisable at July 31, 2019 |  | Weighted Average Remaining Contractual Life (in years) |  | Weighted Average Exercise Price
$19.96 - $26.99 |  | 476,603 |  |  | 5.9 |  | $ | 20.64 |  |  | 476,603 |  |  | 5.9 |  | $ | 20.64 |
$27.00 - $32.99 |  | 285,513 |  |  | 2.8 |  | 29.71 |  |  | 285,150 |  |  | 2.8 |  | 29.71 |
$33.00 - $43.98 |  | 832,600 |  |  | 8.1 |  | 38.58 |  |  | 264,058 |  |  | 7.5 |  | 35.77 |
Total |  | 1,594,716 |  |  | 6.5 |  | $ | 31.63 |  |  | 1,025,811 |  |  | 5.4 |  | $ | 27.06 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following tables summarize the RSU activity for the fiscal year ended July 31, 2019:
Time-Based RSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Balance as of July 31, 2018 |  | 342,856 |  |  | $ | 29.05 |
New grants |  | 84,231 |  |  | 44.20 |
Vested |  | (212,788 | ) |  | 26.73 |
Forfeited |  | (25,661 | ) |  | 31.07 |
Balance as of July 31, 2019 |  | 188,638 |  |  | $ | 38.15 |
The time-based RSUs granted during the fiscal year ended July 31, 2018, had a weighted-average grant-date fair value of $36.80. The total fair value of time-based RSUs vested during the years ended July 31, 2019 and 2018, was $9,859 and $8,237, respectively.
Performance-Based RSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Balance as of July 31, 2018 |  | 108,097 |  |  | $ | 32.57 |
New grants |  | 50,313 |  |  | 50.70 |
Balance as of July 31, 2019 |  | 158,410 |  |  | $ | 38.33 |
The performance-based RSUs granted during the fiscal year ended July 31, 2019, had a weighted-average grant-date fair value determined by a third-party valuation involving the use of a Monte Carlo simulation. The performance-based RSUs granted during the fiscal year ended July 31, 2018, had a weighted-average grant-date fair value of $33.12. The aggregate intrinsic value of unvested time-based and performance-based RSUs outstanding at July 31, 2019 and 2018, and expected to vest, was $17,953 and $17,249, respectively.

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