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Derivatives and Hedging (Tables) | 9 Months Ended
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Apr. 30, 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:
| April 30, 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 | 110,175 |  |  | 368 |  |  | — |  |  | 273,325 |  |  | 850 |  |  | — |
Total derivative financial instruments | $ | 110,175 |  |  | $ | 368 |  |  | $ | — |  |  | $ | 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 April 30,
|  | 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 |  | $ | — |  |  | $ | 411 |
Interest rate swap agreements (1) |  | (452) |  |  | 3,209 |
Total gain (loss) |  | $ | (452) |  |  | $ | 3,620 |
(1) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $16 and $1,888 for the three months ended April 30, 2023 and 2022, respectively.
|  | Nine Months Ended April 30,
|  | 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 |  | $ | — |  |  | $ | (209) |
Interest rate swap agreements (2) |  | (367) |  |  | 8,313 |
Total gain (loss) |  | $ | (367) |  |  | $ | 8,104 |
(2) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $734 and $3,290 for the nine months ended April 30, 2023 and 2022, respectively.
|  | Three Months Ended April 30,
|  | 2023 |  | 2022
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  |  | $ | — |  |  | $ | (261) |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | 468 |  |  | — |  |  |  | (1,321) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 690 |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | 11 |  |  | — |  |  |  | 335 |
Total gain (loss) |  | $ | 690 |  |  |  | $ | 479 |  |  | $ | (261) |  |  |  | $ | (986) |
|  | Nine Months Ended April 30,
|  | 2023 |  | 2022
|  |  |  |  | Interest |  |  |  |  | Interest
|  | Sales |  |  | Expense |  | Sales |  |  | Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (58) |  |  |  | $ | — |  |  | $ | (545) |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  | 1,101 |  |  | — |  |  |  | (5,023) |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income, net of tax |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 2,636 |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | — |
Commodities swap agreements |  | (2,229) |  |  |  | — |  |  | — |  |  |  | — |
Interest rate swap agreements |  | — |  |  |  | 182 |  |  | — |  |  |  | 424 |
Total gain (loss) |  | $ | 349 |  |  |  | $ | 1,283 |  |  | $ | (545) |  |  |  | $ | (4,599) |

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