Fair Value Measurements (Tables)

6 Months Ended

Jan. 31, 2022

Fair Value Disclosures [Abstract]

Summary Of Cash Equivalents Measured At Fair Value

The table below summarizes the Company’s cash equivalents, other current assets, interest rate swaps and Contingent Consideration (defined below) measured at estimated fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands).

	Estimated Fair Value Measurement as of January 31, 2022
Description	Total		Level 1		Level 2		Level 3
Assets:
Money Market	$	504,306	$	504,306	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	9,564	$	—	$	9,564	$	—
Liabilities:
Interest Rate Swaps	$	1,155	$	—	$	1,155	$	—
Contingent Consideration	$	40,900	$	—	$	—	$	40,900
	Estimated Fair Value Measurement as of July 31, 2021
Description	Total		Level 1		Level 2		Level 3
Assets:
Money Market	$	253,782	$	253,782	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	259,945	$	—	$	259,945	$	—
Liabilities:
Interest Rate Swaps	$	12,942	$	—	$	12,942	$	—
Contingent Consideration	$	29,600	$	—	$	—	$	29,600
	Estimated Fair Value Measurement as of January 31, 2021
Description	Total		Level 1		Level 2		Level 3
Assets:
Money Market	$	204,070	$	204,070	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	8,734	$	—	$	8,734	$	—
Liabilities:
Interest Rate Swaps	$	16,548	$	—	$	16,548	$	—
Contingent Consideration	$	17,000	$	—	$	—	$	17,000

The Company’s cash equivalents, other current assets and interest rate swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. The estimated fair value of the interest rate swaps are included within other long-term liabilities on the Company’s Consolidated Condensed Balance Sheet as of January 31, 2022 and 2021.

The changes in Contingent Consideration during the six months ended January 31, 2022 and 2021 were as follows (in thousands):

Balance as of July 31, 2021 and 2020, respectively	$	29,600	$	17,800
Payments	(7,480)		(2,602)
Change in estimated fair value	18,780		1,802
Balance as of January 31, 2022 and 2021, respectively	$	40,900	$	17,000