Employee Benefit Plans (Tables)

12 Months Ended

Jul. 31, 2015

Defined Benefit Plan Disclosure [Line Items]

Components Of Net Periodic Pension Costs

Net periodic pension costs for the Company’s pension plans include the following components:

	2015			2014			2013
	(thousands of dollars)
Service cost	$	20,412		$	18,821		$	19,439
Interest cost		19,108			19,499			16,953
Expected return on assets		(29,529	)		(30,794	)		(28,111	)
Prior service cost and transition amortization		570			590			591
Actuarial loss amortization		7,086			7,403			10,362
Settlement loss		3,906			—			—
Net periodic benefit cost	$	21,553		$	15,519		$	19,234

Obligations And Funded Status Of Company's Pension Plans

The obligations and funded status of the Company’s pension plans as of 2015 and 2014, is as follows:

	2015			2014
	(thousands of dollars)
Change in benefit obligation:
Benefit obligation, beginning of year	$	498,653		$	444,943
Service cost		20,412			18,821
Interest cost		19,108			19,499
Plan amendments		(26	)		—
Participant contributions		1,156			1,308
Actuarial loss/(gain)		13,148			29,638
Currency exchange rates		(18,215	)		8,873
Divestiture		—			(3,200	)
Settlement		(9,185	)		—
Benefits paid		(26,378	)		(21,229	)
Benefit obligation, end of year	$	498,673		$	498,653
Change in plan assets:
Fair value of plan assets, beginning of year	$	489,870		$	452,724
Actual return on plan assets		34,959			45,978
Company contributions		5,511			4,263
Participant contributions		1,156			1,308
Currency exchange rates		(17,454	)		9,912
Divestiture		—			(3,086	)
Settlement		(9,185	)		—
Benefits paid		(26,378	)		(21,229	)
Fair value of plan assets, end of year	$	478,479		$	489,870
Funded status:
Underfunded status at July 31, 2015 and 2014	$	(20,194	)	$	(8,783	)
Amounts recognized on the consolidated balance sheets consist of:
Other long-term assets		10,317			17,800
Other current liabilities		(2,901	)		(832	)
Other long-term liabilities		(27,610	)		(25,751	)
Recognized asset / (liability)	$	(20,194	)	$	(8,783	)

Weighted-Average Discount Rates In Determining Actuarial Present Value Of Projected Benefit Obligation

The weighted-average discount rate and rates of increase in future compensation levels used in determining the actuarial present value of the projected benefit obligation are as follows:

Weighted average actuarial assumptions	2015		2014
All U.S. plans:
Discount rate		4.33%		4.33%
Rate of compensation increase		2.56%		2.61%
Non - U.S. plans:
Discount rate		3.14%		3.64%
Rate of compensation increase		2.68%		2.79%

Assumptions Used To Determine Net Periodic Benefit Cost

The weighted-average discount rates, expected returns on plan assets and rates of increase in future compensation levels used to determine the net periodic benefit cost are as follows:

Weighted average actuarial assumptions	2015		2014		2013
All U.S. plans:
Discount rate		4.33%		4.58%		3.59%
Expected return on plan assets		7.14%		7.50%		7.50%
Rate of compensation increase		2.61%		2.61%		2.61%
Non - U.S. plans:
Discount rate		3.64%		4.04%		4.13%
Expected return on plan assets		5.41%		5.48%		5.20%
Rate of compensation increase		2.79%		2.92%		2.86%

Fair Value Of Assets Held By U.S. Pension Plans By Asset Category

The fair values of the assets held by the U.S. pension plans by asset category are as follows (in millions):

Asset Category	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
2015
Cash	$	1.9	$	—	$	—	$	1.9
Global Equity Securities		76.6		84.6		19.5		180.7
Fixed Income Securities		0.9		64.1		54.7		119.7
Real Assets		6.0		—		13.0		19.0
Total U.S. Assets at July 31, 2015	$	85.4	$	148.7	$	87.2	$	321.3
2014
Cash	$	14.2	$	—	$	—	$	14.2
Global Equity Securities		107.3		87.3		21.1		215.7
Fixed Income Securities		27.0		—		58.7		85.7
Real Assets		7.1		—		13.5		20.6
Total U.S. Assets at July 31, 2014	$	155.6	$	87.3	$	93.3	$	336.2
2013
Cash	$	18.5	$	—	$	—	$	18.5
Global Equity Securities		82.5		50.2		19.4		152.1
Fixed Income Securities		42.9		20.8		60.8		124.5
Real Assets		—		—		22.1		22.1
Total U.S. Assets at July 31, 2013	$	143.9	$	71.0	$	102.3	$	317.2

Changes In Fair Values Of Pension Plans' Level 3 Assets

The following table sets forth a summary of changes in the fair values of the U.S. pension plans’ Level 3 assets for the years ended July 31, 2015, 2014, and 2013 (in millions):

	Global Equity			Fixed Income			Real Assets			Total
Beginning balance at August 1, 2012	$	19.4		$	55.0		$	31.4		$	105.8
Unrealized gains		(0.8	)		6.4			1.1			6.7
Realized gains		1.7			0.7			—			2.4
Purchases		2.1			—			1.0			3.1
Sales		(3.0	)		(1.3	)		(11.4	)		(15.7	)
Ending balance at July 31, 2013	$	19.4		$	60.8		$	22.1		$	102.3
Unrealized gains		1.7			(2.0	)		—			(0.3	)
Realized gains		2.4			8.9			0.8			12.1
Purchases		2.0			20.0			2.7			24.7
Sales		(4.4	)		(29.0	)		(12.1	)		(45.5	)
Ending balance at July 31, 2014	$	21.1		$	58.7		$	13.5		$	93.3
Unrealized gains		(0.3	)		(3.7	)		0.7			(3.3	)
Realized gains		2.8			5.1			0.6			8.5
Purchases		1.8			—			0.8			2.6
Sales		(5.9	)		(5.4	)		(2.6	)		(13.9	)
Ending balance at July 31, 2015	$	19.5		$	54.7		$	13.0		$	87.2

Summary Of Pension Plans' Assets Valued At NAV

The following table sets forth a summary of the U.S. pension plans’ assets valued at NAV for the year ended July 31, 2015 (in millions):

	Fair Value		Unfunded Commitments		Redemption Frequency (If Currently Eligible)	Redemption Notice Period
Global Equity	$	181.3	$	3.4	Daily, Monthly, Quarterly, Annually		10 - 100 days
Fixed Income		55.6		—	Daily, Quarterly, Semi-Annually		60 - 120 days
Real Assets		19.0		2.3	Daily, Quarterly		95 days
Total	$	255.9	$	5.7

Estimated Future Benefit Payments For U.S. And Non U.S. Plans

Estimated future benefit payments for the Company’s U.S. and non-U.S. plans are as follows (thousands of dollars):

Fiscal Year
2016	$	25,445
2017	$	25,721
2018	$	25,203
2019	$	26,540
2020	$	27,332
2021-2025	$	142,263

International Assets [Member]

Defined Benefit Plan Disclosure [Line Items]

Changes In Fair Values Of Pension Plans' Level 3 Assets

The following table sets forth a summary of changes in the fair values of the non-U.S. pension plans’ Level 3 assets for the years ended July 31, 2015, 2014, and 2013 (in millions):

	Equity/Fixed Income
Beginning balance at August 1, 2012	$	21.8
Unrealized gains		1.1
Foreign currency exchange		1.7
Purchases		2.6
Sales		(0.9	)
Ending balance at July 31, 2013	$	26.3
Unrealized gains		4.3
Realized gains		0.1
Foreign currency exchange		0.1
Purchases		3.1
Sales		(3.4	)
Ending balance at July 31, 2014	$	30.5
Unrealized gains		1.3
Realized gains		—
Foreign currency exchange		(5.5	)
Purchases		2.7
Sales		(0.8	)
Ending balance at July 31, 2015	$	28.2

Fair Value Of Assets Held By Non-U.S. Pension Plans

Fair values of the assets held by the non-U.S. pension plans by asset category are as follows (in millions):

Asset Category	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
2015
Cash	$	—	$	—	$	—	$	—
Global Equity Securities		71.7		—		—		71.7
Fixed Income Securities		4.2		35.9		—		40.1
Equity/Fixed Income		17.2		—		28.2		45.4
Total Non-U.S. Assets at July 31, 2015	$	93.1	$	35.9	$	28.2	$	157.2
2014
Cash	$	5.7	$	—	$	—	$	5.7
Global Equity Securities		71.3		—		—		71.3
Fixed Income Securities		4.8		23.3		—		28.1
Equity/Fixed Income		18.0		—		30.5		48.5
Total Non-U.S. Assets at July 31, 2014	$	99.8	$	23.3	$	30.5	$	153.6
2013
Global Equity Securities	$	0.6	$	—	$	—	$	0.6
Fixed Income Securities		63.8		—		—		63.8
Equity/Fixed Income		6.9		21.0		—		27.9
Real Assets		16.9		—		26.3		43.2
Total Non-U.S. Assets at July 31, 2013	$	88.2	$	21.0	$	26.3	$	135.5

Summary Of Pension Plans' Assets Valued At NAV

The following table sets forth a summary of the non-U.S. pension plans’ assets valued at NAV for the year ended July 31, 2015 (in millions):

	Fair Value		Unfunded Commitments		Redemption Frequency (If Currently Eligible)	Redemption Notice Period
Fixed Income	$	35.9	$	—	Weekly		7 days
Equity/Fixed Income		28.2		—	Yearly		90 days
Total	$	64.1	$	—