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Derivatives and Hedging (Tables) | 9 Months Ended
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Apr. 30, 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:
| April 30, 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 | $ | 18,842 |  |  |  |  | $ | 381 |  |  | $ | 41,899 |  |  |  |  | $ | 88 |
Interest rate swap agreements | 326,300 |  |  |  |  | 482 |  |  | 482,138 |  |  |  |  | 11,420 |
Total derivative financial instruments | $ | 345,142 |  |  |  |  | $ | 863 |  |  | $ | 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 April 30,
|  | 2022 |  | 2021
Gain on Derivatives Designated as Cash Flow Hedges |  |  |  |
Gain recognized in Other Comprehensive Income, net of tax |  |  |  |
Foreign currency forward contracts |  | $ | 411 |  |  | $ | 422 |
Interest rate swap agreements (1) |  | 3,209 |  |  | 2,507 |
Total gain |  | $ | 3,620 |  |  | $ | 2,929 |
(1) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $1,888 and $154 for the three months ended April 30, 2022 and 2021, respectively.
|  | Nine Months Ended April 30,
|  | 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 |  | $ | (209) |  |  | $ | 356 |
Interest rate swap agreements (2) |  | 8,313 |  |  | 8,256 |
Total gain (loss) |  | $ | 8,104 |  |  | $ | 8,612 |
(2) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $3,290 and $506 for the nine months ended April 30, 2022 and 2021, respectively.
|  | Three Months Ended April 30,
|  | 2022 |  | 2021
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (261) |  |  |  | $ | — |  |  | $ | (429) |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | (1,321) |  |  | — |  |  |  | (2,353) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | — |  |  |  | 335 |  |  | — |  |  |  | 108 |
Total gain (loss) |  | $ | (261) |  |  |  | $ | (986) |  |  | $ | (429) |  |  |  | $ | (2,245) |
|  | Nine Months Ended April 30,
|  | 2022 |  | 2021
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (545) |  |  |  | $ | — |  |  | $ | (422) |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | (5,023) |  |  | — |  |  |  | (7,750) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | — |  |  |  | 424 |  |  | — |  |  |  | 62 |
Total gain (loss) |  | $ | (545) |  |  |  | $ | (4,599) |  |  | $ | (422) |  |  |  | $ | (7,688) |

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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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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