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Derivatives and Hedging (Tables) | 6 Months Ended
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Jan. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The fair value of our derivative instruments designated as cash flow hedges, and the associated notional amounts, presented on a pre-tax basis, were as follows:
| January 31, 2022 |  | July 31, 2021
|  |  |  |  | Fair Value in |  |  |  |  |  | Fair Value in
|  |  |  |  | Other Current |  |  |  |  |  | Other Current
Cash Flow Hedges | Notional |  |  |  | Liabilities |  | Notional |  |  |  | Liabilities
Foreign currency forward contracts | $ | 40,249 |  |  |  |  | $ | 943 |  |  | $ | 41,899 |  |  |  |  | $ | 88 |
Interest rate swap agreements | 379,275 |  |  |  |  | 4,713 |  |  | 482,138 |  |  |  |  | 11,420 |
Total derivative financial instruments | $ | 419,524 |  |  |  |  | $ | 5,656 |  |  | $ | 524,037 |  |  |  |  | $ | 11,508 |
Derivative instruments, gain (loss) | The total amounts presented in the Condensed Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments are as follows:
|  | Three Months Ended January 31,
|  | 2022 |  | 2021
Gain (Loss) on Derivatives Designated as Cash Flow Hedges |  |  |  |
Gain (Loss) recognized in Other Comprehensive Income, net of tax |  |  |  |
Foreign currency forward contracts |  | $ | (479) |  |  | $ | (66) |
Interest rate swap agreements (1) |  | 2,608 |  |  | 2,417 |
Total gain (loss) |  | $ | 2,129 |  |  | $ | 2,351 |
(1) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $795 and $(206) for the three months ended January 31, 2022 and 2021, respectively.
|  | Six Months Ended January 31,
|  | 2022 |  | 2021
Gain (Loss) on Derivatives Designated as Cash Flow Hedges |  |  |  |
Gain (Loss) recognized in Other Comprehensive Income, net of tax |  |  |  |
Foreign currency forward contracts |  | $ | (620) |  |  | $ | (66) |
Interest rate swap agreements (2) |  | 5,104 |  |  | 5,749 |
Total gain (loss) |  | $ | 4,484 |  |  | $ | 5,683 |
(2) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $1,402 and $352 for the six months ended January 31, 2022 and 2021, respectively.
|  | Three Months Ended January 31,
|  | 2022 |  | 2021
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (271) |  |  |  | $ | — |  |  | $ | 7 |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | (1,813) |  |  | — |  |  |  | (2,623) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain ( loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | — |  |  |  | 2 |  |  | — |  |  |  | (8) |
Total gain (loss) |  | $ | (271) |  |  |  | $ | (1,811) |  |  | $ | 7 |  |  |  | $ | (2,631) |
|  | Six Months Ended January 31,
|  | 2022 |  | 2021
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (284) |  |  |  | $ | — |  |  | $ | 7 |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | (3,702) |  |  | — |  |  |  | (5,397) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | — |  |  |  | 89 |  |  | — |  |  |  | (46) |
Total gain (loss) |  | $ | (284) |  |  |  | $ | (3,613) |  |  | $ | 7 |  |  |  | $ | (5,443) |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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