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Employee Benefit Plans (Tables) | 12 Months Ended
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Jul. 31, 2015
Defined Benefit Plan Disclosure [Line Items] |
Components Of Net Periodic Pension Costs | Net periodic pension costs for the Company’s pension plans include the following components:
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (thousands of dollars) |
Service cost |  | $ | 20,412 |  |  | $ | 18,821 |  |  | $ | 19,439 |
Interest cost |  |  | 19,108 |  |  |  | 19,499 |  |  |  | 16,953 |
Expected return on assets |  |  | (29,529 | ) |  |  | (30,794 | ) |  |  | (28,111 | )
Prior service cost and transition amortization |  |  | 570 |  |  |  | 590 |  |  |  | 591 |
Actuarial loss amortization |  |  | 7,086 |  |  |  | 7,403 |  |  |  | 10,362 |
Settlement loss |  |  | 3,906 |  |  |  | — |  |  |  | — |
Net periodic benefit cost |  | $ | 21,553 |  |  | $ | 15,519 |  |  | $ | 19,234 |
Obligations And Funded Status Of Company's Pension Plans | The obligations and funded status of the Company’s pension plans as of 2015 and 2014, is as follows:
|  | 2015 |  |  | 2014 |
|  | (thousands of dollars) |
Change in benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | 498,653 |  |  | $ | 444,943 |
Service cost |  |  | 20,412 |  |  |  | 18,821 |
Interest cost |  |  | 19,108 |  |  |  | 19,499 |
Plan amendments |  |  | (26 | ) |  |  | — |
Participant contributions |  |  | 1,156 |  |  |  | 1,308 |
Actuarial loss/(gain) |  |  | 13,148 |  |  |  | 29,638 |
Currency exchange rates |  |  | (18,215 | ) |  |  | 8,873 |
Divestiture |  |  | — |  |  |  | (3,200 | )
Settlement |  |  | (9,185 | ) |  |  | — |
Benefits paid |  |  | (26,378 | ) |  |  | (21,229 | )
Benefit obligation, end of year |  | $ | 498,673 |  |  | $ | 498,653 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year |  | $ | 489,870 |  |  | $ | 452,724 |
Actual return on plan assets |  |  | 34,959 |  |  |  | 45,978 |
Company contributions |  |  | 5,511 |  |  |  | 4,263 |
Participant contributions |  |  | 1,156 |  |  |  | 1,308 |
Currency exchange rates |  |  | (17,454 | ) |  |  | 9,912 |
Divestiture |  |  | — |  |  |  | (3,086 | )
Settlement |  |  | (9,185 | ) |  |  | — |
Benefits paid |  |  | (26,378 | ) |  |  | (21,229 | )
Fair value of plan assets, end of year |  | $ | 478,479 |  |  | $ | 489,870 |
Funded status: |  |  |  |  |  |  |  |
Underfunded status at July 31, 2015 and 2014 |  | $ | (20,194 | ) |  | $ | (8,783 | )
Amounts recognized on the consolidated balance sheets consist of: |  |  |  |  |  |  |  |
Other long-term assets |  |  | 10,317 |  |  |  | 17,800 |
Other current liabilities |  |  | (2,901 | ) |  |  | (832 | )
Other long-term liabilities |  |  | (27,610 | ) |  |  | (25,751 | )
Recognized asset / (liability) |  | $ | (20,194 | ) |  | $ | (8,783 | )
Weighted-Average Discount Rates In Determining Actuarial Present Value Of Projected Benefit Obligation | The weighted-average discount rate and rates of increase in future compensation levels used in determining the actuarial present value of the projected benefit obligation are as follows:
Weighted average actuarial assumptions |  | 2015 |  |  | 2014 |
All U.S. plans: |  |  |  |  |  |  |  |
Discount rate |  |  | 4.33% |  |  |  | 4.33% |
Rate of compensation increase |  |  | 2.56% |  |  |  | 2.61% |
Non - U.S. plans: |  |  |  |  |  |  |  |
Discount rate |  |  | 3.14% |  |  |  | 3.64% |
Rate of compensation increase |  |  | 2.68% |  |  |  | 2.79% |
Assumptions Used To Determine Net Periodic Benefit Cost | The weighted-average discount rates, expected returns on plan assets and rates of increase in future compensation levels used to determine the net periodic benefit cost are as follows:
Weighted average actuarial assumptions |  | 2015 |  |  | 2014 |  |  | 2013 |
All U.S. plans: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.33% |  |  |  | 4.58% |  |  |  | 3.59% |
Expected return on plan assets |  |  | 7.14% |  |  |  | 7.50% |  |  |  | 7.50% |
Rate of compensation increase |  |  | 2.61% |  |  |  | 2.61% |  |  |  | 2.61% |
Non - U.S. plans: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.64% |  |  |  | 4.04% |  |  |  | 4.13% |
Expected return on plan assets |  |  | 5.41% |  |  |  | 5.48% |  |  |  | 5.20% |
Rate of compensation increase |  |  | 2.79% |  |  |  | 2.92% |  |  |  | 2.86% |
Fair Value Of Assets Held By U.S. Pension Plans By Asset Category | The fair values of the assets held by the U.S. pension plans by asset category are as follows (in millions):
Asset Category |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 1.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.9 |
Global Equity Securities |  |  | 76.6 |  |  |  | 84.6 |  |  |  | 19.5 |  |  |  | 180.7 |
Fixed Income Securities |  |  | 0.9 |  |  |  | 64.1 |  |  |  | 54.7 |  |  |  | 119.7 |
Real Assets |  |  | 6.0 |  |  |  | — |  |  |  | 13.0 |  |  |  | 19.0 |
Total U.S. Assets at July 31, 2015 |  | $ | 85.4 |  |  | $ | 148.7 |  |  | $ | 87.2 |  |  | $ | 321.3 |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 14.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 14.2 |
Global Equity Securities |  |  | 107.3 |  |  |  | 87.3 |  |  |  | 21.1 |  |  |  | 215.7 |
Fixed Income Securities |  |  | 27.0 |  |  |  | — |  |  |  | 58.7 |  |  |  | 85.7 |
Real Assets |  |  | 7.1 |  |  |  | — |  |  |  | 13.5 |  |  |  | 20.6 |
Total U.S. Assets at July 31, 2014 |  | $ | 155.6 |  |  | $ | 87.3 |  |  | $ | 93.3 |  |  | $ | 336.2 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 18.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 18.5 |
Global Equity Securities |  |  | 82.5 |  |  |  | 50.2 |  |  |  | 19.4 |  |  |  | 152.1 |
Fixed Income Securities |  |  | 42.9 |  |  |  | 20.8 |  |  |  | 60.8 |  |  |  | 124.5 |
Real Assets |  |  | — |  |  |  | — |  |  |  | 22.1 |  |  |  | 22.1 |
Total U.S. Assets at July 31, 2013 |  | $ | 143.9 |  |  | $ | 71.0 |  |  | $ | 102.3 |  |  | $ | 317.2 |
Changes In Fair Values Of Pension Plans' Level 3 Assets | The following table sets forth a summary of changes in the fair values of the U.S. pension plans’ Level 3 assets for the years ended July 31, 2015, 2014, and 2013 (in millions):
|  | Global Equity |  |  | Fixed Income |  |  | Real Assets |  |  | Total |
Beginning balance at August 1, 2012 |  | $ | 19.4 |  |  | $ | 55.0 |  |  | $ | 31.4 |  |  | $ | 105.8 |
Unrealized gains |  |  | (0.8 | ) |  |  | 6.4 |  |  |  | 1.1 |  |  |  | 6.7 |
Realized gains |  |  | 1.7 |  |  |  | 0.7 |  |  |  | — |  |  |  | 2.4 |
Purchases |  |  | 2.1 |  |  |  | — |  |  |  | 1.0 |  |  |  | 3.1 |
Sales |  |  | (3.0 | ) |  |  | (1.3 | ) |  |  | (11.4 | ) |  |  | (15.7 | )
Ending balance at July 31, 2013 |  | $ | 19.4 |  |  | $ | 60.8 |  |  | $ | 22.1 |  |  | $ | 102.3 |
Unrealized gains |  |  | 1.7 |  |  |  | (2.0 | ) |  |  | — |  |  |  | (0.3 | )
Realized gains |  |  | 2.4 |  |  |  | 8.9 |  |  |  | 0.8 |  |  |  | 12.1 |
Purchases |  |  | 2.0 |  |  |  | 20.0 |  |  |  | 2.7 |  |  |  | 24.7 |
Sales |  |  | (4.4 | ) |  |  | (29.0 | ) |  |  | (12.1 | ) |  |  | (45.5 | )
Ending balance at July 31, 2014 |  | $ | 21.1 |  |  | $ | 58.7 |  |  | $ | 13.5 |  |  | $ | 93.3 |
Unrealized gains |  |  | (0.3 | ) |  |  | (3.7 | ) |  |  | 0.7 |  |  |  | (3.3 | )
Realized gains |  |  | 2.8 |  |  |  | 5.1 |  |  |  | 0.6 |  |  |  | 8.5 |
Purchases |  |  | 1.8 |  |  |  | — |  |  |  | 0.8 |  |  |  | 2.6 |
Sales |  |  | (5.9 | ) |  |  | (5.4 | ) |  |  | (2.6 | ) |  |  | (13.9 | )
Ending balance at July 31, 2015 |  | $ | 19.5 |  |  | $ | 54.7 |  |  | $ | 13.0 |  |  | $ | 87.2 |
Summary Of Pension Plans' Assets Valued At NAV | The following table sets forth a summary of the U.S. pension plans’ assets valued at NAV for the year ended July 31, 2015 (in millions):
|  | Fair Value |  |  | Unfunded Commitments |  |  | Redemption Frequency (If Currently Eligible) |  | Redemption Notice Period |
Global Equity |  | $ | 181.3 |  |  | $ | 3.4 |  |  | Daily, Monthly, Quarterly, Annually |  |  | 10 - 100 days |
Fixed Income |  |  | 55.6 |  |  |  | — |  |  | Daily, Quarterly, Semi-Annually |  |  | 60 - 120 days |
Real Assets |  |  | 19.0 |  |  |  | 2.3 |  |  | Daily, Quarterly |  |  | 95 days |
Total |  | $ | 255.9 |  |  | $ | 5.7 |  |  |  |  |  |  |
Estimated Future Benefit Payments For U.S. And Non U.S. Plans | Estimated future benefit payments for the Company’s U.S. and non-U.S. plans are as follows (thousands of dollars):
Fiscal Year |  |  |  |
2016 |  | $ | 25,445 |
2017 |  | $ | 25,721 |
2018 |  | $ | 25,203 |
2019 |  | $ | 26,540 |
2020 |  | $ | 27,332 |
2021-2025 |  | $ | 142,263 |
International Assets [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Changes In Fair Values Of Pension Plans' Level 3 Assets | The following table sets forth a summary of changes in the fair values of the non-U.S. pension plans’ Level 3 assets for the years ended July 31, 2015, 2014, and 2013 (in millions):
|  | Equity/Fixed Income |  |
Beginning balance at August 1, 2012 |  | $ | 21.8 |  |
Unrealized gains |  |  | 1.1 |  |
Foreign currency exchange |  |  | 1.7 |  |
Purchases |  |  | 2.6 |  |
Sales |  |  | (0.9 | ) |
Ending balance at July 31, 2013 |  | $ | 26.3 |  |
Unrealized gains |  |  | 4.3 |  |
Realized gains |  |  | 0.1 |  |
Foreign currency exchange |  |  | 0.1 |  |
Purchases |  |  | 3.1 |  |
Sales |  |  | (3.4 | ) |
Ending balance at July 31, 2014 |  | $ | 30.5 |  |
Unrealized gains |  |  | 1.3 |  |
Realized gains |  |  | — |  |
Foreign currency exchange |  |  | (5.5 | ) |
Purchases |  |  | 2.7 |  |
Sales |  |  | (0.8 | ) |
Ending balance at July 31, 2015 |  | $ | 28.2 |  |
Fair Value Of Assets Held By Non-U.S. Pension Plans | Fair values of the assets held by the non-U.S. pension plans by asset category are as follows (in millions):
Asset Category |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Global Equity Securities |  |  | 71.7 |  |  |  | — |  |  |  | — |  |  |  | 71.7 |
Fixed Income Securities |  |  | 4.2 |  |  |  | 35.9 |  |  |  | — |  |  |  | 40.1 |
Equity/Fixed Income |  |  | 17.2 |  |  |  | — |  |  |  | 28.2 |  |  |  | 45.4 |
Total Non-U.S. Assets at July 31, 2015 |  | $ | 93.1 |  |  | $ | 35.9 |  |  | $ | 28.2 |  |  | $ | 157.2 |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 5.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 5.7 |
Global Equity Securities |  |  | 71.3 |  |  |  | — |  |  |  | — |  |  |  | 71.3 |
Fixed Income Securities |  |  | 4.8 |  |  |  | 23.3 |  |  |  | — |  |  |  | 28.1 |
Equity/Fixed Income |  |  | 18.0 |  |  |  | — |  |  |  | 30.5 |  |  |  | 48.5 |
Total Non-U.S. Assets at July 31, 2014 |  | $ | 99.8 |  |  | $ | 23.3 |  |  | $ | 30.5 |  |  | $ | 153.6 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Equity Securities |  | $ | 0.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.6 |
Fixed Income Securities |  |  | 63.8 |  |  |  | — |  |  |  | — |  |  |  | 63.8 |
Equity/Fixed Income |  |  | 6.9 |  |  |  | 21.0 |  |  |  | — |  |  |  | 27.9 |
Real Assets |  |  | 16.9 |  |  |  | — |  |  |  | 26.3 |  |  |  | 43.2 |
Total Non-U.S. Assets at July 31, 2013 |  | $ | 88.2 |  |  | $ | 21.0 |  |  | $ | 26.3 |  |  | $ | 135.5 |
Summary Of Pension Plans' Assets Valued At NAV | The following table sets forth a summary of the non-U.S. pension plans’ assets valued at NAV for the year ended July 31, 2015 (in millions):
|  | Fair Value |  |  | Unfunded Commitments |  |  | Redemption Frequency (If Currently Eligible) |  | Redemption Notice Period |
Fixed Income |  | $ | 35.9 |  |  | $ | — |  |  | Weekly |  |  | 7 days |
Equity/Fixed Income |  |  | 28.2 |  |  |  | — |  |  | Yearly |  |  | 90 days |
Total |  | $ | 64.1 |  |  | $ | — |  |  |  |  |  |  |

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