Leases (Tables)

12 Months Ended

Jul. 31, 2020

Leases [Abstract]

Components of Lease Cost for Operating Leases

The following table summarizes the components of lease cost for operating leases for the year ended July 31, 2020:

	Year Ended July 31, 2020
Operating lease cost	$	82,963
Short term lease cost		2,896
Variable lease cost		1,719
Total lease cost	$	87,578

Rent Expense under Operating Leases

Prior to the adoption of the new lease accounting guidance in 2020, rent expense under operating leases, including the sale-leaseback transactions discussed below, for 2019 and 2018 was:

Year	Minimum		Contingent		Total
2019	$	78,044	$	280	$	78,324
2018		76,445		255		76,700

Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases

The following table summarizes supplemental cash flow information and non-cash activity related to the Company’s operating leases for the year ended July 31, 2020:

	Year Ended July 31, 2020
Operating cash flow information:
Gain on sale and leaseback transaction	$	69,954
Cash paid for amounts included in the measurement of lease liabilities		80,265
Noncash information:
Right-of-use assets obtained in exchange for new operating lease liabilities		267,266
Lease modifications  or reassessments increasing or decreasing right-of-use assets		29,793
Lease modifications removing right-of-use assets		(19,939	)

Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate for Operating Leases

The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of July 31, 2020:

Weighted-average remaining lease term	19.05 Years
Weighted-average discount rate	4.50%

Maturities of Undiscounted Cash Flows Reconciled to Total Lease Liability

The following table summarizes the maturities of undiscounted cash flows reconciled to the total lease liability as of July 31, 2020:

Year	Total
2021	$	71,184
2022		57,183
2023		52,785
2024		50,886
2025		49,768
Thereafter		762,624
Total future minimum lease payments		1,044,430
Less imputed remaining interest		(369,499	)
Total present value of operating lease liabilities	$	674,931

Future Minimum Operating Lease Payments

The following table summarizes the maturities of lease commitments as of August 2, 2019, prior to the adoption of the new lease guidance, as previously disclosed in the Company’s Form 10-K for the fiscal year ended August 2, 2019:

Year	Total
2020	$	69,249
2021		40,962
2022		36,280
2023		33,639
2024		34,020
Thereafter		515,169
Total	$	729,319