Leases

3 Months Ended

Oct. 31, 2022

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 principally expiring through 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-month periods ended October 31, 2022 and October 31, 2021 were as follows:

	Three Months Ended October 31,
	2022		2021
Operating lease cost	$	6,879	$	6,308
Finance lease cost:
Amortization of right-of-use assets	186		186
Interest on lease liabilities	105		125
Total lease cost	$	7,170	$	6,619

Other information related to leases was as follows:

	Three Months Ended October 31,
Supplemental Cash Flows Information	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,853	$	6,309
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	3,395	$	8,401

Supplemental Balance Sheet Information	October 31, 2022		July 31, 2022
Operating leases:
Operating lease right-of-use assets	$	44,158	$	44,407
Operating lease liabilities
Other current liabilities	$	9,437	$	9,406
Other long-term liabilities	34,622		34,830
Total operating lease liabilities	$	44,059	$	44,236
Finance leases:
Finance lease right-of-use assets	$	6,077	$	6,264
Finance lease liabilities
Other current liabilities	$	1,085	$	1,215
Other long-term liabilities	3,296		3,476
Total finance lease liabilities	$	4,381	$	4,691

	October 31, 2022		July 31, 2022
Weighted-average remaining lease term:
Operating leases	10.0 years		10.2 years
Finance leases	4.2 years		4.4 years
Weighted-average discount rate:
Operating leases	3.9	%	3.6	%
Finance leases	9.3	%	9.2	%

Future minimum rental payments required under operating and finance leases as of October 31, 2022 were as follows:

	Operating Leases		Finance Leases
For the remainder of the fiscal year ending July 31, 2023	$	11,287	$	1,186
For the fiscal year ending July 31, 2024	12,175		1,059
For the fiscal year ending July 31, 2025	8,787		1,083
For the fiscal year ending July 31, 2026	5,989		1,107
For the fiscal year ending July 31, 2027	4,432		896
For the fiscal year ending July 31, 2028 and thereafter	18,532		58
Total future lease payments	61,202		5,389
Less: amount representing interest	(17,143)		(1,008)
Total reported lease liability	$	44,059	$	4,381

Leases

Leases

The Company has operating leases principally for land, buildings and equipment and has various finance leases for certain land and buildings principally expiring through 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-month periods ended October 31, 2022 and October 31, 2021 were as follows:

	Three Months Ended October 31,
	2022		2021
Operating lease cost	$	6,879	$	6,308
Finance lease cost:
Amortization of right-of-use assets	186		186
Interest on lease liabilities	105		125
Total lease cost	$	7,170	$	6,619

Other information related to leases was as follows:

	Three Months Ended October 31,
Supplemental Cash Flows Information	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,853	$	6,309
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	3,395	$	8,401

Supplemental Balance Sheet Information	October 31, 2022		July 31, 2022
Operating leases:
Operating lease right-of-use assets	$	44,158	$	44,407
Operating lease liabilities
Other current liabilities	$	9,437	$	9,406
Other long-term liabilities	34,622		34,830
Total operating lease liabilities	$	44,059	$	44,236
Finance leases:
Finance lease right-of-use assets	$	6,077	$	6,264
Finance lease liabilities
Other current liabilities	$	1,085	$	1,215
Other long-term liabilities	3,296		3,476
Total finance lease liabilities	$	4,381	$	4,691

	October 31, 2022		July 31, 2022
Weighted-average remaining lease term:
Operating leases	10.0 years		10.2 years
Finance leases	4.2 years		4.4 years
Weighted-average discount rate:
Operating leases	3.9	%	3.6	%
Finance leases	9.3	%	9.2	%

Future minimum rental payments required under operating and finance leases as of October 31, 2022 were as follows:

	Operating Leases		Finance Leases
For the remainder of the fiscal year ending July 31, 2023	$	11,287	$	1,186
For the fiscal year ending July 31, 2024	12,175		1,059
For the fiscal year ending July 31, 2025	8,787		1,083
For the fiscal year ending July 31, 2026	5,989		1,107
For the fiscal year ending July 31, 2027	4,432		896
For the fiscal year ending July 31, 2028 and thereafter	18,532		58
Total future lease payments	61,202		5,389
Less: amount representing interest	(17,143)		(1,008)
Total reported lease liability	$	44,059	$	4,381