INCOME TAXES |
6 Months Ended |
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Jan. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | NOTE 12—INCOME TAXES The effective tax rate for the second quarter of fiscal 2026 was an expense rate of 13.0% on pre-tax income compared to a benefit rate of 60.0% on pre-tax loss for the second quarter of fiscal 2025. The change from the second quarter of fiscal 2025 is primarily driven by the increase in pre-tax income during the second quarter of fiscal 2026. The primary drivers for the variation between the Company’s statutory tax rate and its effective tax rate were discrete tax benefits resulting from employee stock award vestings. The effective tax rate for fiscal 2026 year-to-date was a benefit rate of 14.3% on pre-tax income compared to a benefit rate of 24.1% on pre-tax loss for fiscal 2025 year-to-date. The change from fiscal 2025 year-to-date is primarily driven by the increase in pre-tax income, discrete tax benefits from favorable tax audit settlements and employee stock award vestings during fiscal 2026, as well as the tax credit benefit of a solar array placed in service during the first quarter of fiscal 2026. The primary drivers for the variation between the Company’s statutory tax rate and its effective tax rate were favorable audit settlements, discrete tax benefits resulting from employee stock award vestings and the solar tax credit benefit.
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