Accrued Expenses (Tables)

3 Months Ended

Oct. 31, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses were comprised of the following:

(in thousands)	October 31, 2024		July 31, 2024
Bulk wine and other received not invoiced	$	23,796	$	2,901
Trade spend(a)	17,012		10,593
Accrued professional fees(b)	8,085		264
Deferred compensation liability(c)	3,919		3,932
Income taxes payable	1,900		—
Barrel purchase	1,794		3,143
Accrued construction in progress	749		4,385
Accrued invoices and other accrued expenses	12,091		8,946
Accrued expenses	$	69,346	$	34,164

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(a) Trade spend refers to estimated amounts the Company owes to distributors for depletion-based incentives.

(b) Includes transaction costs related to the Merger Agreement.

(c) The Company intends to use the cash surrender value of life insurance policies to settle its deferred compensation plan liability. The cash surrender value of the life insurance policies was $3.7 million at October 31, 2024 and July 31, 2024, and is included in other assets on the Condensed Consolidated Statements of Financial Position.