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Derivatives and Hedging (Tables) | 6 Months Ended
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Jan. 31, 2023
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, 2023 |  | July 31, 2022
|  |  | Fair Value in |  | Fair Value in |  |  |  | Fair Value in |  | Fair Value in
|  |  | Other Current |  | Other Current |  |  |  | Other Current |  | Other Current
Cash Flow Hedges | Notional |  | Assets |  | Liabilities |  | Notional |  | Assets |  | Liabilities
Foreign currency forward contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33,997 |  |  | $ | — |  |  | $ | 80 |
Interest rate swap agreements | 165,263 |  |  | 961 |  |  | — |  |  | 273,325 |  |  | 850 |  |  | — |
Total derivative financial instruments | $ | 165,263 |  |  | $ | 961 |  |  | $ | — |  |  | $ | 307,322 |  |  | $ | 850 |  |  | $ | 80 |
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 derivative instruments are as follows:
|  | Three Months Ended January 31,
|  | 2023 |  | 2022
Gain (Loss) on Derivatives Designated as Cash Flow Hedges |  |  |  |
Gain (Loss) recognized in Other Comprehensive Income, net of tax |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | (479) |
Interest rate swap agreements (1) |  | (661) |  |  | 2,608 |
Total gain (loss) |  | $ | (661) |  |  | $ | 2,129 |
(1) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $(136) and $795 for the three months ended January 31, 2023 and 2022, respectively.
|  | Six Months Ended January 31,
|  | 2023 |  | 2022
Gain (Loss) on Derivatives Designated as Cash Flow Hedges |  |  |  |
Gain (Loss) recognized in Other Comprehensive Income, net of tax |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | (620) |
Interest rate swap agreements (2) |  | 85 |  |  | 5,104 |
Total gain (loss) |  | $ | 85 |  |  | $ | 4,484 |
(2) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $718 and $1,402 for the six months ended January 31, 2023 and 2022, respectively.
|  | Three Months Ended January 31,
|  | 2023 |  | 2022
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  |  | $ | — |  |  | $ | (271) |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | 525 |  |  | — |  |  |  | (1,813) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 1,118 |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | — |
Commodities swap agreements |  | (1,567) |  |  |  | — |  |  | — |  |  |  | — |
Interest rate swap agreements |  | — |  |  |  | (83) |  |  | — |  |  |  | 2 |
Total gain (loss) |  | $ | (449) |  |  |  | $ | 442 |  |  | $ | (271) |  |  |  | $ | (1,811) |
|  | Six Months Ended January 31,
|  | 2023 |  | 2022
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (58) |  |  |  | $ | — |  |  | $ | (284) |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | 633 |  |  | — |  |  |  | (3,702) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 1,946 |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | — |
Commodities swap agreements |  | (2,229) |  |  |  | — |  |  | — |  |  |  | — |
Interest rate swap agreements |  | — |  |  |  | 171 |  |  | — |  |  |  | 89 |
Total gain (loss) |  | $ | (341) |  |  |  | $ | 804 |  |  | $ | (284) |  |  |  | $ | (3,613) |

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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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