v3.25.2
Stock-Based Compensation (Tables)
12 Months Ended
Jul. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Valuation Assumption Used to Determine Fair Value of Stock-Based Compensation Awards
The fair value of these awards was determined using the following inputs:
Year Ended July 31,
202520242023
Risk-free interest rate
3.6% - 4.5%
3.8% - 4.6%
3.8% - 4.2%
Expected volatility
26.1% - 27.0%
26.8% - 27.2%
26.8% - 27.5%
Expected dividend yield1.6 %1.6 %1.6 %
Expected life:
Director grants8 years8 years8 years
Officer grants7 years7 years7 years
Non-officer grants7 years7 years7 years
Schedule of Stock Option Activity
Option activity was as follows:
 OptionsWeighted
Average Exercise
Price
Balance outstanding as of July 31, 20246,163,056 $50.57 
Granted800,025 72.87 
Exercised(692,308)42.46 
Expired/forfeited(47,693)63.45 
Balance outstanding as of July 31, 20256,223,080 $54.24 
Schedule of Outstanding and Exercisable Options
Outstanding and exercisable stock options as of July 31, 2025 were as follows:
Range of Exercise PricesNumber
Outstanding
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
Number
Exercisable
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
$28.00 to $37.99
231,143 0.4$28.17 231,143 0.4$28.17 
$38.00 to $47.99
1,625,429 3.244.85 1,625,429 3.244.85 
$48.00 to $57.99
1,519,987 5.651.44 1,251,934 5.351.56 
$58.00 to $67.99
2,096,337 6.259.66 1,537,904 5.459.40 
$68.00 and above
750,184 9.273.13 1,629 8.772.68 
6,223,080 5.4$54.24 4,648,039 4.4$50.65 
Schedule of Status of Options that Contain Vesting Provisions
For the year ended July 31, 2025, activity for non-vested stock options that contain vesting provisions was as follows:
OptionsWeighted
Average Grant
Date Fair
Value
Balance outstanding as of beginning of year1,657,970 $17.02 
Granted800,025 21.67 
Vested(835,261)16.24 
Forfeited(47,693)19.29 
Balance outstanding as of end of year1,575,041 $19.73 
Schedule of Performance Shares Activity
The weighted average grant date fair value related to the Company’s performance-based awards was as follows:
Year Ended July 31,
202520242023
Weighted average grant date fair value$73.18 $59.66 $50.89 
Performance-based awards for non-vested activity were as follows:
Performance SharesWeighted
Average Grant
Date Fair
Value
Balance outstanding as of July 31, 2024
227,900 $55.31 
Granted111,900 73.18 
Vested(106,723)50.89 
Forfeited(35,393)64.39 
Balance outstanding as of July 31, 2025
197,684 $66.19