Accumulated Other Comprehensive Loss

6 Months Ended

Jan. 31, 2021

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Changes in accumulated other comprehensive loss for the three months ended January 31, 2021 and 2020 are as follows (in millions):


	Foreign Currency Translation Adjustment		Pension Benefits			Derivative Financial Instruments			Total
Balance as of October 31, 2020, net of tax	$	(79.0)	$	(103.9)		$	0.1		$	(182.8)
Other comprehensive income (loss) before reclassifications and tax	41.5		—			(1.7)			39.8
Tax benefit	—		—			0.3			0.3
Other comprehensive income (loss) before reclassifications, net of tax	41.5		—			(1.4)			40.1
Reclassifications, before tax	—		0.2		(1)	(0.7)		(2)	(0.5)
Tax (expense) benefit	—		(0.2)			0.4			0.2
Reclassifications, net of tax	—		—			(0.3)			(0.3)
Other comprehensive income (loss), net of tax	41.5		—			(1.7)			39.8
Balance as of January 31, 2021, net of tax	$	(37.5)	$	(103.9)		$	(1.6)		$	(143.0)

Balance as of October 31, 2019, net of tax	$	(84.6)	$	(98.2)		$	0.3		$	(182.5)
Other comprehensive income before reclassifications and tax	2.4		—			—			2.4
Tax benefit	—		—			0.5			0.5
Other comprehensive income before reclassifications, net of tax	2.4		—			0.5			2.9
Reclassifications, before tax	—		1.6		(1)	0.1		(2)	1.7
Tax expense	—		(0.4)			—			(0.4)
Reclassifications, net of tax	—		1.2			0.1			1.3
Other comprehensive income, net of tax	2.4		1.2			0.6			4.2
Balance as of January 31, 2020, net of tax	$	(82.2)	$	(97.0)		$	0.9		$	(178.3)

(1)Includes net amortization of prior service costs and actuarial losses included in net periodic benefit costs (see Note 9) that were reclassified from accumulated other comprehensive loss on the Company’s Condensed Consolidated Balance Sheets to cost of sales and operating expenses on the Company’s Condensed Consolidated Statements of Earnings.

(2)Relates to foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to other (income) expense, net on the Company’s Condensed Consolidated Statements of Earnings.

Changes in accumulated other comprehensive loss for the six months ended January 31, 2021 and 2020 are as follows (in millions):



	Foreign Currency Translation Adjustment		Pension Benefits			Derivative Financial Instruments			Total
Balance as of July 31, 2020, net of tax	$	(74.0)	$	(110.0)		$	—		$	(184.0)
Other comprehensive income (loss) before reclassifications and tax	36.5		4.0		(1)	(1.4)			39.1
Tax (expense) benefit	—		(1.0)			0.3			(0.7)
Other comprehensive income (loss) before reclassifications, net of tax	36.5		3.0			(1.1)			38.4
Reclassifications, before tax	—		3.8		(2)	(0.7)		(3)	3.1
Tax (expense) benefit	—		(0.7)			0.2			(0.5)
Reclassifications, net of tax	—		3.1			(0.5)			2.6
Other comprehensive income (loss), net of tax	36.5		6.1			(1.6)			41.0
Balance at January 31, 2021, net of tax	$	(37.5)	$	(103.9)		$	(1.6)		$	(143.0)

Balance as of July 31, 2019, net of tax	$	(92.7)	$	(99.0)		$	(1.2)		$	(192.9)
Other comprehensive income before reclassifications and tax	10.5		—			0.1			10.6
Tax benefit	—		—			0.7			0.7
Other comprehensive income before reclassifications, net of tax	10.5		—			0.8			11.3
Reclassifications, before tax	—		2.3		(2)	2.0		(3)	4.3
Tax expense	—		(0.3)			(0.7)			(1.0)
Reclassifications, net of tax	—		2.0			1.3			3.3
Other comprehensive income, net of tax	10.5		2.0			2.1			14.6
Balance as of January 31, 2020, net of tax	$	(82.2)	$	(97.0)		$	0.9		$	(178.3)

(1)In the first quarter of fiscal 2021, pension curtailment accounting was triggered and the Company recorded a charge of $0.8 million (see Note 9). As a result of the related remeasurement, the Company’s pension obligations decreased with a corresponding adjustment to other comprehensive loss on the Company’s Condensed Consolidated Balance Sheets of $4.0 million.

(2)Includes net amortization of prior service costs and actuarial losses included in net periodic benefit costs (see Note 9) that were reclassified from accumulated other comprehensive loss on the Company’s Condensed Consolidated Balance Sheets to cost of sales and operating expenses on the Company’s Condensed Consolidated Statements of Earnings.

(3)Relates to foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to other (income) expense, net on the Company’s Condensed Consolidated Statements of Earnings.