INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2015

Schedule of Components of Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes from continuing operations are as follows:
	July 31,
Income Taxes:	2015		2014		2013
Federal	$	98,504	$	83,374	$	74,610
State and local		1,222		(1,383)		4,187
Total current expense		99,726		81,991		78,797
Federal		(7,785)		(3,805)		(7,712)
State and local		(1,055)		(883)		(789)
Total deferred (benefit)		(8,840)		(4,688)		(8,501)
Total income tax expense	$	90,886	$	77,303	$	70,296

Schedule of Differences Between Income Taxes at Federal Statutory Rate and Actual Income Taxes

The differences between income taxes at the federal statutory rate and the actual income taxes are as follows:
	July 31,
	2015		2014		2013
Provision at federal statutory rate	$	102,513	$	88,487	$	77,691
State and local income taxes, net of federal benefit		5,144		3,748		2,815
Federal income tax credits and incentives		(2,207)		(772)		(2,468)
Domestic production activities deduction		(9,519)		(7,947)		(7,303)
Change in uncertain tax positions		(5,650)		(6,631)		(718)
Change in current tax payable and deferred tax liabilities		218		125		13
Other permanent items		387		293		266
Total income tax expense	$	90,886	$	77,303	$	70,296

Schedule of Deferred Income Taxes

A summary of deferred income taxes is as follows:
	July 31,
	2015		2014
Current deferred income tax asset (liability):
Inventory basis	$	467	$	(183)
Employee benefits		3,625		2,543
Self-insurance reserves		10,411		10,139
Accrued product warranties		39,486		33,629
Accrued incentives		3,959		3,553
Sales returns and allowances		1,520		1,419
Accrued expenses		2,067		1,523
Unrecognized tax benefits		367		614
Other		(2,038)		(1,840)
Total net current deferred income tax asset	$	59,864		51,397
Long-term deferred income tax asset (liability):
Property, plant and equipment		(707)		(983)
Deferred compensation		6,367		4,811
Tax credit carry forward		110		790
Intangibles		(30,246)		(31,681)
Unrecognized tax benefits		3,913		7,675
Total net long-term deferred income tax (liability)		(20,563)		(19,388)
Net deferred tax asset	$	39,301	$	32,009

Schedule of Changes in Unrecognized Tax Benefit

Changes in the unrecognized tax benefit during fiscal year 2015, 2014 and 2013 were as follows:

	2015			2014			2013
Beginning balance		$	20,813		$	32,733		$	33,900
Tax positions related to prior years:
Additions			126			9			436
Reductions			(7,695)			(9,281)			(113)
Tax positions related to current year:
Additions			2,858			3,804			5,348
Settlements			(1,898)			(5,002)			(5,593)
Lapses in statute of limitations			(1,048)			(1,450)			(1,245)
Ending balance		$	13,156		$	20,813		$	32,733

Components of Total Unrecognized Tax Benefits

The components of total unrecognized tax benefits are summarized as follows:

	July 31,
	2015			2014			2013
Unrecognized tax benefits		$	13,156		$	20,813		$	32,733
Reduction to unrecognized tax benefits for tax credit carry forward			(2,109)			(657)			(440)
Accrued interest and penalties			1,895			5,200			11,671
Total unrecognized tax benefits		$	12,942		$	25,356		$	43,964
Short-term, included in “Income and other taxes”		$	997		$	1,667		$	2,745
Long-term			11,945			23,689			41,219
Total unrecognized tax benefits		$	12,942		$	25,356		$	43,964