Accumulated Other Comprehensive Loss

6 Months Ended

Jan. 31, 2024

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

Note 11. Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss for the three months ended January 31, 2024 and 2023 were as follows (in millions):


	Foreign Currency Translation Adjustment		Pension Benefits			Derivative Financial Instruments			Total
Balance as of October 31, 2023, net of tax	$	(147.2)	$	(66.2)		$	5.1		$	(208.3)
Other comprehensive income (loss) before reclassifications and tax	20.9		—			(0.9)			20.0
Tax benefit	—		—			0.1			0.1
Other comprehensive income (loss) before reclassifications, net of tax	20.9		—			(0.8)			20.1

Reclassifications, before tax	—		(0.2)		(1)	(1.1)			(1.3)
Tax benefit	—		—			0.3			0.3
Reclassifications, net of tax	—		(0.2)			(0.8)		(2)	(1.0)
Other comprehensive income (loss), net of tax	20.9		(0.2)			(1.6)			19.1
Balance as of January 31, 2024, net of tax	$	(126.3)	$	(66.4)		$	3.5		$	(189.2)

Balance as of October 31, 2022, net of tax	$	(183.7)	$	(66.3)		$	10.1		$	(239.9)
Other comprehensive income (loss) before reclassifications and tax	65.3		—			(4.1)			61.2
Tax benefit	—		—			1.0			1.0
Other comprehensive income (loss) before reclassifications, net of tax	65.3		—			(3.1)			62.2

Reclassifications, before tax	—		(1.0)		(1)	(2.7)			(3.7)
Tax benefit	—		0.3			0.9			1.2
Reclassifications, net of tax	—		(0.7)			(1.8)		(2)	(2.5)
Other comprehensive income (loss), net of tax	65.3		(0.7)			(4.9)			59.7
Balance as of January 31, 2023, net of tax	$	(118.4)	$	(67.0)		$	5.2		$	(180.2)

(1)Amounts include foreign currency translation gain of $0.6 million and $1.5 million and net amortization of prior service costs and actuarial losses of $0.4 million and $0.5 million in fiscal 2024 and 2023, respectively, included in other income, net in the Condensed Consolidated Statements of Earnings, see Note 13.

(2)Relates to designated foreign currency forward contracts that were reclassified from accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets to net sales, cost of sales and selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings, see Note 14.

Changes in accumulated other comprehensive loss for the six months ended January 31, 2024 and 2023 were as follows (in millions):


	Foreign Currency Translation Adjustment		Pension Benefits			Derivative Financial Instruments			Total
Balance as of July 31, 2023, net of tax	$	(109.6)	$	(67.2)		$	4.3		$	(172.5)
Other comprehensive loss before reclassifications and tax	(16.7)		—			(0.7)			(17.4)
Tax expense	—		—			—			—
Other comprehensive loss before reclassifications, net of tax	(16.7)		—			(0.7)			(17.4)

Reclassifications, before tax	—		1.0		(1)	(0.2)			0.8
Tax (expense) benefit	—		(0.2)			0.1			(0.1)
Reclassifications, net of tax	—		0.8			(0.1)		(2)	0.7
Other comprehensive (loss) income, net of tax	(16.7)		0.8			(0.8)			(16.7)
Balance at January 31, 2024, net of tax	$	(126.3)	$	(66.4)		$	3.5		$	(189.2)

Balance as of July 31, 2022, net of tax	$	(143.6)	$	(67.5)		$	5.5		$	(205.6)
Other comprehensive income before reclassifications and tax	25.2		—			0.4			25.6
Tax expense	—		—			(0.1)			(0.1)
Other comprehensive income before reclassifications, net of tax	25.2		—			0.3			25.5

Reclassifications, before tax	—		0.6		(1)	(0.9)			(0.3)
Tax (expense) benefit	—		(0.1)			0.3			0.2
Reclassifications, net of tax	—		0.5			(0.6)		(2)	(0.1)
Other comprehensive income (loss), net of tax	25.2		0.5			(0.3)			25.4
Balance at January 31, 2023, net of tax	$	(118.4)	$	(67.0)		$	5.2		$	(180.2)

(1)Amounts include foreign currency translation loss of $0.2 million and gain of $0.5 million and net amortization of prior service costs and actuarial losses of $0.8 million and $1.1 million in fiscal 2024 and 2023, respectively, included in other income, net in the Condensed Consolidated Statements of Earnings, see Note 13.