Income Taxes (Tables)

12 Months Ended

Jul. 31, 2022

Components Of Deferred Tax Liabilities And Assets

Significant components of the Company’s deferred tax liabilities and assets are as follows (in thousands):


	July 31,
	2022		2021
Deferred income tax liabilities:
Fixed assets	$	203,669	$	204,714
Intangible assets	119,066		100,751
Operating lease right of use assets	44,873		47,915
Convertible debt	18,780		23,783
Other	18,157		15,116
Total	404,545		392,279
Deferred income tax assets:
Canyons obligation	17,291		16,080
Stock-based compensation	9,957		10,335
Investment in Partnerships	10,602		7,585
Deferred compensation and other accrued benefits	15,202		13,887
Contingent Consideration	10,719		7,430

Net operating loss carryforwards and other tax credits	8,516		12,182
Operating lease liabilities	49,530		53,755
Other, net	24,501		27,206
Total	146,318		148,460
Valuation allowance for deferred income taxes	(5,188)		(5,939)
Deferred income tax assets, net of valuation allowance	141,130		142,521
Net deferred income tax liability	$	263,415	$	249,758

Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred income taxes recognized in the accompanying Consolidated Balance Sheets are as follows (in thousands):


	July 31,
	2022		2021
Deferred income tax asset	$	5,049	$	3,059
Deferred income tax liability	268,464		252,817
Net deferred income tax liability	$	263,415	$	249,758

Components Of Provision (Benefit) For Income Taxes

Significant components of the provision for income taxes are as follows (in thousands):


	Year Ended July 31,
	2022		2021		2020
Current:
Federal	$	62,974	$	20,387	$	(13,467)
State	13,938		4,935		(731)
Foreign	21,302		(8,460)		4,141
Total current	98,214		16,862		(10,057)
Deferred:
Federal	(6,910)		(16,289)		12,597
State	1,966		(2,423)		4,266
Foreign	(4,446)		2,576		572
Total deferred	(9,390)		(16,136)		17,435
Provision for income taxes	$	88,824	$	726	$	7,378

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

U.S. and foreign components of income (loss) before provision for income taxes is as follows (in thousands):


	Year Ended July 31,
	2022		2021		2020
U.S.	$	387,729	$	148,898	$	89,838
Foreign	69,432		(23,715)		26,595
Income before income taxes	$	457,161	$	125,183	$	116,433

Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation

A reconciliation of the income tax provision for continuing operations and the amount computed by applying the United States federal statutory income tax rate to income before income taxes is as follows:


	Year Ended July 31,
	2022		2021		2020
At U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income tax, net of federal benefit	3.8	%	4.2	%	3.5	%
Change in uncertain tax positions	(1.2)	%	(3.5)	%	(3.8)	%

Excess tax benefits related to stock-based compensation	(3.6)	%	(14.3)	%	(7.1)	%
Impacts of the Tax Act and other legislative changes	—	%	—	%	(3.2)	%
Noncontrolling interests	(1.2)	%	0.8	%	(2.4)	%
Foreign rate differential	0.1	%	(5.0)	%	(2.4)	%
Taxes related to prior year filings	0.3	%	(2.9)	%	—	%
Other	0.2	%	0.3	%	0.7	%
Effective tax rate	19.4	%	0.6	%	6.3	%

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):


	Year Ended July 31,
	2022		2021		2020
Balance, beginning of year	$	67,857	$	70,299	$	72,222

Additions for tax positions of prior years	11,179		16,754		16,654

Lapse of statute of limitations	(16,127)		(19,196)		(18,577)

Balance, end of year	$	62,909	$	67,857	$	70,299