CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 30, 2020	Jul. 31, 2019
Current assets:
Cash and cash equivalents	$ 326.5	$ 177.8
Accounts receivable, less allowance of $5.3 and $4.8, respectively	460.5	529.5
Inventories, net	346.5	332.8
Prepaid expenses and other current assets	87.0	82.5
Total current assets	1,220.5	1,122.6
Property, plant and equipment, net	614.3	588.9
Right-of-use lease assets	71.4	0.0
Goodwill	303.8	303.1
Intangible assets, net	65.3	70.9
Deferred income taxes	15.4	14.2
Other Assets, Noncurrent	47.8	42.9
Total assets	2,338.5	2,142.6
Current liabilities:
Short-term borrowings	8.1	2.1
Current maturities of long-term debt	50.0	50.2
Trade accounts payable	202.7	237.5
Current lease liabilities	24.0	0.0
Other current liabilities	148.0	193.1
Total current liabilities	432.8	482.9
Long-term debt	735.1	584.4
Non-current income taxes payable	104.0	110.9
Deferred income taxes	18.6	13.2
Long-term lease liabilities	47.4	0.0
Other long-term liabilities	45.8	48.5
Total liabilities	1,383.7	1,239.9
Commitments and contingencies (Note 15)
Redeemable non-controlling interest	10.3	10.0
Shareholders’ equity:
Preferred stock, $1.00 par value, 1,000,000 shares authorized, none issued	0.0	0.0
Common stock, $5.00 par value, 240,000,000 shares authorized, 151,643,194 shares issued	758.2	758.2
Retained earnings	1,418.8	1,281.5
Non-controlling interest	5.7	5.4
Stock-compensation plans	14.0	21.7
Accumulated other comprehensive loss	(212.1)	(192.9)
Treasury stock, 25,480,083 and 24,324,483 shares, respectively, at cost	(1,040.1)	(981.2)
Total shareholders’ equity	944.5	892.7
Total liabilities and shareholders’ equity	$ 2,338.5	$ 2,142.6