v3.24.3
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION (Policies)
 12 Months Ended
Jul. 31, 2024
Accounting Policies [Abstract]  
Share-based Payment Arrangement [Policy Text Block]
STOCK-BASED COMPENSATION
 
We account for stock options and restricted stock issued under our long-term incentive plans in accordance with ASC 718, Compensation – Stock Compensation. The fair value of stock-based compensation is determined at the grant date. The related compensation expense is recognized over the appropriate vesting period. Forfeitures are recognized as they occur. See Note 8 of the Notes to the Consolidated Financial Statements for additional information.
The fair value of restricted stock was determined by the closing market price of our Common Stock on the date of grant multiplied by the number of shares granted. Fair value of shares vested in fiscal year 2024 and 2023 is $9.8 million and $2.2 million, respectively as of their vesting dates.