Leases

3 Months Ended

Oct. 31, 2020

Leases [Abstract]

Leases

Leases

The Company has operating leases principally for land, buildings and equipment and has various finance leases for certain land and buildings expiring between calendar 2021 and 2035.

Certain of the Company's leases include options to extend or terminate the leases and these options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised.

The Company does not include significant restrictions or covenants in our lease agreements, and residual value guarantees are not generally included within our operating leases.

The components of lease costs for the three months ended October 31, 2020 and October 31, 2019 were as follows:

	Three Months Ended October 31,
	2020		2019
Operating lease cost	$	3,877	$	3,031
Finance lease cost
Amortization of right-of-use assets	136		136
Interest on lease liabilities	126		137
Total lease cost	$	4,139	$	3,304

Other information related to leases was as follows:

	Three Months Ended October 31,
Supplemental Cash Flows Information	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,855	$	3,005
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	2,348	$	278

Leases

Leases

The Company has operating leases principally for land, buildings and equipment and has various finance leases for certain land and buildings expiring between calendar 2021 and 2035.

Certain of the Company's leases include options to extend or terminate the leases and these options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised.

The Company does not include significant restrictions or covenants in our lease agreements, and residual value guarantees are not generally included within our operating leases.

The components of lease costs for the three months ended October 31, 2020 and October 31, 2019 were as follows:

	Three Months Ended October 31,
	2020		2019
Operating lease cost	$	3,877	$	3,031
Finance lease cost
Amortization of right-of-use assets	136		136
Interest on lease liabilities	126		137
Total lease cost	$	4,139	$	3,304

Other information related to leases was as follows:

	Three Months Ended October 31,
Supplemental Cash Flows Information	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,855	$	3,005
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	2,348	$	278

Supplemental Balance Sheet Information	October 31, 2020		July 31, 2020
Operating leases:
Operating lease right-of-use assets	$	34,078	$	33,609
Operating lease liabilities
Other current liabilities	$	5,794	$	5,343
Other long-term liabilities	28,496		28,456
Total operating lease liabilities	$	34,290	$	33,799
Finance leases:
Finance lease right-of-use assets	$	3,536	$	3,672
Finance lease liabilities
Other current liabilities	$	523	$	505
Other long-term liabilities	4,606		4,743
Total finance lease liabilities	$	5,129	$	5,248

	October 31, 2020		July 31, 2020
Weighted-average remaining lease term
Operating leases	13.1 years		13.6 years
Finance leases	6.6 years		6.8 years
Weighted-average discount rate
Operating leases	3.4	%	3.4	%
Finance leases	9.7	%	9.7	%

Future minimum rental payments required under operating and finance leases as of October 31, 2020 were as follows:

	Operating Leases		Financing Leases
For the remainder of the fiscal year ending July 31, 2021	$	8,245	$	745
For the fiscal year ending July 31, 2022	8,981		1,013
For the fiscal year ending July 31, 2023	6,591		1,036
For the fiscal year ending July 31, 2024	4,668		1,059
For the fiscal year ending July 31, 2025	3,441		1,083
For the fiscal year ending July 31, 2026 and thereafter	18,615		2,061
Total future lease payments	$	50,541	$	6,997
Less: amount representing interest	(16,251)		(1,868)
Total reported lease liability	$	34,290	$	5,129