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DERIVATIVES AND HEDGING | 12 Months Ended
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Jul. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVES AND HEDGING | DERIVATIVES AND HEDGING At times, the Company uses interest rate swap agreements, foreign currency forward contracts and certain non-derivative financial instruments to help manage its risks associated with foreign currency exchange rates and interest rates. The Company records derivatives as assets and liabilities on the balance sheet at fair value. Changes in the fair value of derivative instruments are recognized in earnings unless the derivative qualifies and is designated as a hedge. Cash flows from derivatives are classified in the Consolidated Statements of Cash Flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships. The Company evaluates hedge effectiveness at inception and on an ongoing basis. If a derivative is no longer expected to be effective, hedge accounting is discontinued. As of July 31, 2025 and July 31, 2024 there were no derivative instruments designated as hedges, except for the net investment hedge discussed below. Net Investment Hedge The Company designates a portion of its outstanding Euro-denominated term loan tranche as a hedge of foreign currency exposures related to investments the Company has in certain Euro-denominated functional currency subsidiaries. The foreign currency transaction gains and losses on the portion of the Euro-denominated term loan designated and effective as a hedge of the Company's net investment in its Euro-denominated functional currency subsidiaries are included as a component of the foreign currency translation adjustment. Gains (losses), net of tax, included in the foreign currency translation adjustment were $(3,296), $7,375 and $(27,211) for the fiscal years ended July 31, 2025, July 31, 2024 and July 31, 2023, respectively. There were no amounts reclassified out of accumulated other comprehensive income (loss) pertaining to the net investment hedge during the fiscal years ended July 31, 2025, 2024 and 2023. Derivatives Not Designated as Hedging Instruments The Company has certain other derivative instruments which have not been designated as hedges. These other derivative instruments had a notional amount totaling approximately $31,820 and a fair value asset of $9,675 as of July 31, 2025. The July 31, 2025 amount includes warrants to purchase shares, which is discussed further in Note 10. These other derivative instruments had a notional amount totaling approximately $22,333 and a fair value liability of $1,137 as of July 31, 2024. For these derivative instruments, changes in fair value are recognized in earnings. The total amounts presented in the Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments for the fiscal years ended July 31, 2025, 2024 and 2023 are as follows:
|  | 2025 |  | 2024 |  | 2023
Gain (Loss) on Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |
Gain (loss) recognized in Other comprehensive income (loss), net of tax |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest rate swap agreements (1) |  | — |  |  | — |  |  | (675) |
Total gain (loss) |  | $ | — |  |  | $ | — |  |  | $ | (675) |
(1)Other comprehensive income, net of tax, before reclassification from AOCI was $0, $0 and $702 for fiscal years 2025, 2024 and 2023, respectively.
|  | 2025
|  | Sales |  | Other income, net |  | Interest Expense
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |
Amount of gain (loss) recognized in income, net of tax |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (559) |  |  | — |  |  | $ | — |
Warrants to purchase shares |  | — |  |  | 5,843 |  |  | — |
Interest rate swap agreements |  | — |  |  | — |  |  | (5) |
Total gain (loss) |  | $ | (559) |  |  | $ | 5,843 |  |  | $ | (5) |
|  | 2024
|  | Sales |  |  |  | Interest Expense
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |
Amount of gain (loss) recognized in income, net of tax |  |  |  |  |  |
Foreign currency forward contracts |  | (962) |  |  |  |  | — |
Interest rate swap agreements |  | — |  |  |  |  | (160) |
Total gain (loss) |  | $ | (962) |  |  |  |  | $ | (160) |
|  | 2023
|  | Sales |  |  |  | Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (58) |  |  |  |  | $ | — |
Interest rate swap agreements |  | — |  |  |  |  | 1,377 |
Gain (Loss) on Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |
Amount of gain (loss) recognized in income, net of tax |  |  |  |  |  |
Foreign currency forward contracts |  | 2,742 |  |  |  |  | — |
Commodities swap agreements |  | (2,229) |  |  |  |  | — |
Interest rate swap agreements |  | — |  |  |  |  | 167 |
Total gain (loss) |  | $ | 455 |  |  |  |  | $ | 1,544 |

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/825/tableOfContent + Details
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