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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2018
Jul. 31, 2017
Jul. 31, 2016
Cash flows from operating activities:      
Net income $ 430,151 $ 374,254 $ 256,519
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 38,105 34,333 24,613
Amortization of intangibles 55,118 63,925 27,962
Amortization of debt issuance costs 1,570 1,570 131
Impairment charges     9,113
Deferred income tax provision (benefit) 14,525 (39,552) (14,116)
Gain on disposition of property, plant & equipment (1,450) (2,231) (35)
Stock-based compensation 17,000 12,500 9,387
Excess tax benefits from stock-based awards     (320)
Changes in assets and liabilities (excluding acquisitions):      
Accounts receivable (2,391) (92,305) (15,773)
Inventories (77,421) (56,619) (15,582)
Prepaid expenses and other assets (14,197) (13,888) 719
Accounts payable (40,736) 67,138 28,625
Accrued liabilities 29,575 63,075 26,016
Long-term liabilities and other 16,659 7,133 3,950
Net cash provided by operating activities 466,508 419,333 341,209
Cash flows from investing activities:      
Purchases of property, plant & equipment (138,197) (115,027) (51,976)
Proceeds from dispositions of property, plant & equipment 3,835 4,682 347
Proceeds from notes receivable     8,367
Equity investment in joint venture (50,402)    
Acquisitions, net of cash acquired   (5,039) (557,651)
Other 1,271 (1,271) (560)
Net cash used in investing activities (183,493) (116,655) (601,473)
Cash flows from financing activities:      
Borrowings on revolving credit facility     360,000
Principal payments on revolving credit facility (145,000) (215,000)  
Payments of debt issuance costs     (7,850)
Cash dividends paid (77,989) (69,409) (62,970)
Payments related to vesting of stock-based awards (7,657) (4,572) (2,484)
Excess tax benefits from stock-based awards     320
Principal payments on capital lease obligations (378) (341) (328)
Net cash provided by (used in) financing activities (231,024) (289,322) 286,688
Net increase in cash and cash equivalents 51,991 13,356 26,424
Cash and cash equivalents, beginning of year 223,258 209,902 183,478
Cash and cash equivalents, end of year 275,249 223,258 209,902
Supplemental cash flow information:      
Income taxes paid 218,841 198,619 128,409
Interest paid 3,901 8,558 672
Non-cash transactions:      
Capital expenditures in accounts payable $ 5,375 $ 6,266 $ 3,538