Income Taxes (Tables)

12 Months Ended

Jul. 31, 2015

Income Tax Disclosure [Abstract]

Components Of Earnings Before Income Taxes

The components of earnings before income taxes are as follows:

	2015		2014		2013
	(thousands of dollars)
Earnings before income taxes:
United States	$	92,362	$	131,396	$	147,317
Foreign		196,241		229,307		200,864
Total	$	288,603	$	360,703	$	348,181

Components Of The Provision For Income Taxes

The components of the provision for income taxes are as follows:

	2015			2014			2013
	(thousands of dollars)
Income taxes:
Current
Federal	$	28,482		$	48,981		$	35,820
State		2,956			4,724			4,337
Foreign		54,665			54,536			52,300
		86,103			108,241			92,457
Deferred
Federal		(4,232	)		(9,465	)		7,071
State		94			365			312
Foreign		(1,473	)		1,338			964
		(5,611	)		(7,762	)		8,347
Total	$	80,492		$	100,479		$	100,804

Schedule Of Reconciliation Of U.S. Statutory Income Tax Rate With Effective Income Tax Rate

The following table reconciles the U.S. statutory income tax rate with the effective income tax rate:

	2015			2014			2013
Statutory U.S. federal rate		35.0	%		35.0	%		35.0	%
State income taxes		0.9	%		1.1	%		1.2	%
Foreign operations		(7.9	)%		(6.1	)%		(6.3	)%
Export, manufacturing, and research credits		(1.1	)%		(0.8	)%		(1.5	)%
Change in unrecognized tax benefits		1.3			(1.1	)%		0.5	%
Other		(0.3	)%		(0.2	)%		0.1	%
		27.9	%		27.9	%		29.0	%

Schedule Of Temporary Differences That Give Rise To Deferred Tax Assets And Liabilities

The tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows:

	2015			2014
	(thousands of dollars)
Deferred tax assets:
Accrued expenses	$	10,566		$	11,118
Compensation and retirement plans		39,090			32,317
NOL and tax credit carryforwards		4,353			3,471
LIFO and inventory reserves		6,891			5,482
Other		4,993			4,470
Deferred tax assets, gross		65,893			56,858
Valuation allowance		(2,737	)		(3,471	)
Net deferred tax assets		63,156			53,387
Deferred tax liabilities:
Depreciation and amortization		(50,628	)		(49,901	)
Other		(2,359	)		(1,025	)
Deferred tax liabilities		(52,987	)		(50,926	)
Prepaid tax assets		4,421			4,392
Net tax asset	$	14,590		$	6,853

Schedule Of Reconciliation Of Beginning And Ending Amount Of Gross Unrecognized Tax Benefits

If the recognition threshold is met, the tax benefit is measured and recognized as the largest amount of tax benefit that in the Company’s judgment is greater than 50 percent likely to be realized. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

	2015			2014			2013
	(thousands of dollars)
Gross unrecognized tax benefits at beginning of fiscal year	$	15,005		$	18,419		$	16,514
Additions for tax positions of the current year		4,660			2,959			5,453
Additions for tax positions of prior years		100			1,706			407
Reductions for tax positions of prior years		(608	)		(7,113	)		(1,640	)
Settlements		—			(240	)		(277	)
Reductions due to lapse of applicable statute of limitations		(970	)		(726	)		(2,038	)
Gross unrecognized tax benefits at end of fiscal year	$	18,187		$	15,005		$	18,419