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Stockholders' Equity (Tables) | 12 Months Ended
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Jul. 31, 2024
Stockholders' Equity Note [Abstract] |
Schedule of Capital Stock | Information as to the Company’s capital stock as of July 31, 2024 and 2023 was as follows:
|  | July 31, 2024 |  | July 31, 2023
|  | Shares Authorized |  | Shares Issued |  | Amount (thousands) |  | Shares Authorized |  | Shares Issued |  | Amount (thousands)
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' Equity | The following is a summary of other activity in stockholders’ equity during the years ended July 31, 2024, 2023, and 2022:
|  | Deferred Compensation |  | Shares Held in Rabbi Trust, at cost |  | Total
Balances at July 31, 2021 |  | $ | 10,534 |  |  | $ | (10,534) |  |  | $ | — |
Shares at July 31, 2021 |  | 315,916 |  |  | 315,916 |  |  |
Sale of shares at cost |  | $ | (721) |  |  | $ | 721 |  |  | $ | — |
Purchase of shares at cost |  | 1,242 |  |  | (1,242) |  |  | — |
Balances at July 31, 2022 |  | $ | 11,055 |  |  | $ | (11,055) |  |  | $ | — |
Shares at July 31, 2022 |  | 318,285 |  |  | 318,285 |  |  |
Sale of shares at cost |  | $ | (739) |  |  | $ | 739 |  |  | $ | — |
Purchase of shares at cost |  | 1,067 |  |  | (1,067) |  |  | — |
Balances at July 31, 2023 |  | $ | 11,383 |  |  | $ | (11,383) |  |  | $ | — |
Shares at July 31, 2023 |  | 318,198 |  |  | 318,198 |  |  |
Sale of shares at cost |  | $ | (889) |  |  | $ | 889 |  |  | $ | — |
Purchase of shares at cost |  | 1,217 |  |  | (1,217) |  |  | — |
Balances at July 31, 2024 |  | $ | 11,711 |  |  | $ | (11,711) |  |  | $ | — |
Shares at July 31, 2024 |  | 312,124 |  |  | 312,124 |  |  |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table:
Black-Scholes Option Valuation Assumptions |  | 2024 |  | 2023 |  | 2022
Expected term (in years) |  | 5.40 |  | 5.71 |  | 6.23
Expected volatility |  | 30.23 | % |  | 29.64 | % |  | 30.04 | %
Expected dividend yield |  | 1.89 | % |  | 2.01 | % |  | 2.26 | %
Risk-free interest rate |  | 4.72 | % |  | 3.66 | % |  | 1.27 | %
Schedule of Stock Option Activity | The following is a summary of stock option activity for the year ended July 31, 2024:
Time-Based Options |  | Options Outstanding |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding as of July 31, 2023 |  | 1,546,783 |  |  | $ | 42.05 |  |  |  |  |
Granted |  | 53,062 |  |  | 54.74 |  |  |  |  |
Exercised |  | (352,983) |  |  | 35.20 |  |  |  |  |
Forfeited |  | (24,816) |  |  | 48.08 |  |  |  |  |
Outstanding as of July 31, 2024 |  | 1,222,046 |  |  | $ | 44.46 |  |  | 5.5 |  | $ | 33,087 |
Exercisable as of July 31, 2024 |  | 1,038,471 |  |  | $ | 43.70 |  |  | 5.1 |  | $ | 28,906 |
The following table summarizes additional stock option information:
|  | 2024 |  | 2023 |  | 2022
Weighted-average fair value of options granted during the period |  | $ | 16.41 |  |  | $ | 12.14 |  | $ | 11.55
Intrinsic value of options exercised during the period (in thousands) |  | 8,860 |  |  | 1,822 |  |  | 4,269 |
Fair value of options vested during the period (in thousands) |  | 2,020 |  |  | 3,384 |  |  | 2,446 |
Cash received from the exercise of stock options during the period (in thousands) |  | 8,186 |  |  | 4,091 |  |  | 1,082 |
Tax benefit on options exercised during the period (in thousands) |  | 2,215 |  |  | 455 |  |  | 1,067 |
Schedule of RSU Activity | The following tables summarize the RSU activity during the year ended July 31, 2024:
RSUs | Shares |  | Weighted Average Grant Date Fair Value
Non-vested RSUs as of July 31, 2023 | 133,868 |  |  | $ | 46.55 |
Granted | 95,145 |  |  | 55.43 |
Vested | (69,001) |  |  | 45.98 |
Forfeited | (11,021) |  |  | 50.36 |
Non-vested RSUs as of July 31, 2024 | 148,991 |  |  | $ | 52.20 |
Schedule of PRSU Activity | The following tables summarize the PRSU activity during the year ended July 31, 2024:
PRSUs | Shares |  | Weighted Average Grant Date Fair Value
Non-vested PRSUs as of July 31, 2023 | 63,448 |  |  | $ | 58.39 |
Granted | 65,956 |  |  | 51.16 |
Vested | (2,786) |  |  | 60.73 |
Forfeited | (23,397) |  |  | 59.47 |
Non-vested PRSUs as of July 31, 2024 | 103,221 |  |  | $ | 53.46 |

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