Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2015

Accounting Policies [Abstract]

Components Of Inventory

Results of operations for all periods presented were not materially affected by the liquidation of LIFO inventory. The components of inventory are as follows (thousands of dollars):

	At July 31,
	2015		2014
Raw materials	$	113,335	$	112,522
Work in process		22,602		17,256
Finished products		129,018		123,573
Total inventories	$	264,955	$	253,351

Components Of Property, Plant And Equipment

The components of property, plant, and equipment are as follows (thousands of dollars):

	At July 31,
	2015			2014
Land	$	20,029		$	20,558
Buildings		272,616			273,599
Machinery and equipment		783,136			753,637
Construction in progress		52,350			51,394
Less accumulated depreciation		(657,520	)		(647,523	)
Total property, plant, and equipment, net	$	470,611		$	451,665

Calculation Of Basic And Diluted Earnings Per Share

The following table presents information necessary to calculate basic and diluted earnings per share:

	2015		2014		2013
	(thousands, except per share amounts)
Weighted average shares – basic		137,750		145,594		148,274
Diluted share equivalents		1,632		2,047		2,181
Weighted average shares – diluted		139,382		147,641		150,455
Net earnings for basic and diluted earnings per share computation	$	208,111	$	260,224	$	247,377
Net earnings per share – basic	$	1.51	$	1.79	$	1.67
Net earnings per share – diluted	$	1.49	$	1.76	$	1.64