v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Jul. 31, 2024
Cash flows from operating activities:      
Net income $ 1,480,397 $ 1,548,363 $ 1,362,347
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization, including debt cost 238,466 217,784 190,256
Allowance for credit losses 5,599 354 3,914
Gain on extinguishment of liabilities 0 0 (4,058)
Equity in losses (income) from unconsolidated affiliates 326 (149) 2,241
Stock-based compensation 38,818 38,004 35,234
Loss (gain) on sale of property and equipment 1,130 (13,726) (2,386)
Deferred taxes 47,359 (13,440) (847)
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable (80,629) (33,950) (145,385)
Vehicle pooling costs (6,358) 16,705 (9,542)
Inventories (11,443) 4,655 (3,698)
Prepaid expenses and other current and non-current assets (47,613) 7,748 (71,067)
Operating lease right-of-use assets and lease liabilities 690 478 1,064
Accounts payable and accrued liabilities 32,507 69,599 59,528
Deferred revenue 1,908 2,159 1,867
Income taxes receivable (49,277) (575) 6,561
Income taxes payable (47,388) (44,259) 46,535
Net cash provided by operating activities 1,604,492 1,799,750 1,472,564
Cash flows from investing activities:      
Purchases of property and equipment (337,363) (568,990) (510,990)
Assets and liabilities acquired in connection with acquisition (5,004) (1,223) 17,662
Proceeds from sale of property and equipment 12,575 31,831 4,166
Investment in held to maturity securities (2,889,072) (4,001,918) (4,087,162)
Proceeds from held to maturity securities 2,345,000 3,960,000 3,645,000
Investment in unconsolidated affiliate (3,737) (7,148) (8,755)
Net cash used in investing activities (877,601) (587,448) (940,079)
Cash flows from financing activities:      
Proceeds from the exercise of stock options 16,702 42,759 24,260
Proceeds from the issuance of Employee Stock Purchase Plan shares 14,312 14,679 12,406
Repurchases of common stock (1,632,538) 0 0
Payments for employee stock-based tax withholdings (3,736) (5,282) (6,558)
Principal payments on revolver facility 0 0 (10,821)
Debt issuance costs (1,534) 0 0
Payments of finance lease obligations (60) (49) (14)
Net cash (used) provided by financing activities (1,606,854) 52,107 19,273
Effect of foreign currency translation 7,333 2,011 4,958
Net increase (decrease) in cash, cash equivalents, and restricted cash (872,630) 1,266,420 556,716
Cash, cash equivalents, and restricted cash at beginning of period 2,780,531 1,514,111 957,395
Cash, cash equivalents, and restricted cash at end of period 1,907,901 2,780,531 1,514,111
Supplemental disclosure of cash flow information:      
Interest paid 1,866 2,019 3,127
Income taxes paid, net of refunds 398,380 409,003 285,891
Purchase of property and equipment through settlement of deposit $ 6,222 $ 64,050 $ 0