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Accumulated Other Comprehensive Loss | 9 Months Ended
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Apr. 30, 2023
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive Loss | Note 11. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the three months ended April 30, 2023 and 2022 were as follows (in millions):
| Foreign Currency Translation Adjustment |  | Pension Benefits |  | Derivative Financial Instruments |  | Total |
Balance as of January 31, 2023, net of tax | $ | (118.4) |  |  | $ | (67.0) |  |  | $ | 5.2 |  |  | $ | (180.2) |  |
Other comprehensive income (loss) before reclassifications and tax | 1.2 |  |  | (4.4) |  | (1) | (0.5) |  |  | (3.7) |  |
Tax benefit | — |  |  | 1.0 |  |  | 0.1 |  |  | 1.1 |  |
Other comprehensive income (loss) before reclassifications, net of tax | 1.2 |  |  | (3.4) |  |  | (0.4) |  |  | (2.6) |  |
Reclassifications, before tax | — |  |  | 3.6 |  | (2) | 0.8 |  |  | 4.4 |  |
Tax expense | — |  |  | (0.9) |  |  | (0.2) |  |  | (1.1) |  |
Reclassifications, net of tax | — |  |  | 2.7 |  |  | 0.6 |  | (3) | 3.3 |  |
Other comprehensive income (loss), net of tax | 1.2 |  |  | (0.7) |  |  | 0.2 |  |  | 0.7 |  |
Balance as of April 30, 2023, net of tax | $ | (117.2) |  |  | $ | (67.7) |  |  | $ | 5.4 |  |  | $ | (179.5) |  |
Balance as of January 31, 2022, net of tax | $ | (71.6) |  |  | $ | (70.7) |  |  | $ | 2.2 |  |  | $ | (140.1) |  |
Other comprehensive (loss) income before reclassifications and tax | (42.8) |  |  | (7.6) |  | (1) | 3.4 |  |  | (47.0) |  |
Tax benefit (expense) | — |  |  | 2.0 |  |  | (0.8) |  |  | 1.2 |  |
Other comprehensive (loss) income before reclassifications, net of tax | (42.8) |  |  | (5.6) |  |  | 2.6 |  |  | (45.8) |  |
Reclassifications, before tax | — |  |  | 5.0 |  | (2) | (0.3) |  |  | 4.7 |  |
Tax (expense) benefit | — |  |  | (1.2) |  |  | 0.1 |  |  | (1.1) |  |
Reclassifications, net of tax | — |  |  | 3.8 |  |  | (0.2) |  | (3) | 3.6 |  |
Other comprehensive (loss) income, net of tax | (42.8) |  |  | (1.8) |  |  | 2.4 |  |  | (42.2) |  |
Balance as of April 30, 2022, net of tax | $ | (114.4) |  |  | $ | (72.5) |  |  | $ | 4.6 |  |  | $ | (182.3) |  |
(1)In fiscal 2023 and 2022, pension settlement accounting was triggered. Remeasurements of the Company’s pension obligations resulted in an increase of $4.4 million and $7.6 million in fiscal 2023 and 2022, respectively, to accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets, see Note 13. (2)Amounts include reclassifications of $3.3 million and $1.1 million, foreign currency translation gain of $0.3 million and loss of $2.1 million and net amortization of prior service costs and actuarial losses of $0.6 million and $1.8 million in fiscal 2023 and 2022, respectively, included in other income, net in the Condensed Consolidated Statements of Earnings, see Note 13. (3)Relates to designated foreign currency forward contracts that were reclassified from accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets to net sales, cost of sales and selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings, see Note 14. Changes in accumulated other comprehensive loss for the nine months ended April 30, 2023 and 2022 were as follows (in millions):
| Foreign Currency Translation Adjustment |  | Pension Benefits |  | Derivative Financial Instruments |  | Total |
Balance as of July 31, 2022, net of tax | $ | (143.6) |  |  | $ | (67.5) |  |  | $ | 5.5 |  |  | $ | (205.6) |  |
Other comprehensive income (loss) before reclassifications and tax | 26.4 |  |  | (4.4) |  | (1) | (0.1) |  |  | 21.9 |  |
Tax benefit | — |  |  | 1.0 |  |  | — |  |  | 1.0 |  |
Other comprehensive income (loss) before reclassifications, net of tax | 26.4 |  |  | (3.4) |  |  | (0.1) |  |  | 22.9 |  |
Reclassifications, before tax | — |  |  | 4.2 |  | (2) | (0.1) |  |  | 4.1 |  |
Tax (expense) benefit | — |  |  | (1.0) |  |  | 0.1 |  |  | (0.9) |  |
Reclassifications, net of tax | — |  |  | 3.2 |  |  | — |  | (3) | 3.2 |  |
Other comprehensive income (loss), net of tax | 26.4 |  |  | (0.2) |  |  | (0.1) |  |  | 26.1 |  |
Balance as of April 30, 2023, net of tax | $ | (117.2) |  |  | $ | (67.7) |  |  | $ | 5.4 |  |  | $ | (179.5) |  |
Balance as of July 31, 2021, net of tax | $ | (44.0) |  |  | $ | (74.7) |  |  | $ | 0.5 |  |  | $ | (118.2) |  |
Other comprehensive (loss) income before reclassifications and tax | (70.4) |  |  | (9.3) |  | (1) | 5.5 |  |  | (74.2) |  |
Tax benefit (expense) | — |  |  | 2.4 |  |  | (1.2) |  |  | 1.2 |  |
Other comprehensive (loss) income before reclassifications, net of tax | (70.4) |  |  | (6.9) |  |  | 4.3 |  |  | (73.0) |  |
Reclassifications, before tax | — |  |  | 11.8 |  | (2) | (0.2) |  |  | 11.6 |  |
Tax expense | — |  |  | (2.7) |  |  | — |  |  | (2.7) |  |
Reclassifications, net of tax | — |  |  | 9.1 |  |  | (0.2) |  | (3) | 8.9 |  |
Other comprehensive (loss) income, net of tax | (70.4) |  |  | 2.2 |  |  | 4.1 |  |  | (64.1) |  |
Balance as of April 30, 2022, net of tax | $ | (114.4) |  |  | $ | (72.5) |  |  | $ | 4.6 |  |  | $ | (182.3) |  |
(1)In fiscal 2023 and 2022, pension settlement accounting was triggered. Remeasurements of the Company’s pension obligations resulted in an increase of $4.4 million and $9.3 million in fiscal 2023 and 2022, respectively, to accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets, see Note 13. (2)Amounts include reclassifications of $3.3 million and $2.3 million, foreign currency translation gain of $0.8 million and loss of $3.8 million and net amortization of prior service costs and actuarial losses of $1.7 million and $5.7 million in fiscal 2023 and 2022, respectively, included in other income, net in the Condensed Consolidated Statements of Earnings, see Note 13. (3)Relates to designated foreign currency forward contracts that were reclassified from accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets to net sales, cost of sales and selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings, see Note 14.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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