DERIVATIVES AND HEDGING (Tables)

12 Months Ended

Jul. 31, 2022

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:

 

	July 31, 2022						July 31, 2021
Cash Flow Hedges	Notional		Fair Value in Other Current Assets		Fair Value in Other Current Liabilities		Notional		Fair Value in Other Current Liabilities
Foreign currency forward contracts	$	33,997	$	—	$	80	$	41,899	$	88
Interest rate swap agreements	273,325		850		—		482,138		11,420
Total derivative financial instruments	$	307,322	$	850	$	80	$	524,037	$	11,508

Schedule of Derivative Instruments, Gain (Loss)

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, 2022, 2021 and 2020 are as follows:

	2022		2021		2020
Gain (Loss) on Derivatives Designated as Cash Flow Hedges
Gain (loss) recognized in Other comprehensive income (loss), net of tax
Foreign currency forward contracts	$	6	$	(63)	$	—
Interest rate swap agreements (1)	9,324		10,231		(9,351)
Total gain (loss)	$	9,330	$	10,168	$	(9,351)

(1)Other comprehensive income (loss), net of tax, before reclassification from AOCI was $3,626, $340 and $(15,265) for fiscal years 2022, 2021 and 2020, respectively.

	2022
	Sales		Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(723)	$	—
Interest rate swap agreements	—		(5,698)
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Interest rate swap agreements	—		428
Total gain (loss)	$	(723)	$	(5,270)

	2021
	Sales		Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(1,050)	$	—
Interest rate swap agreements	—		(9,891)
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Interest rate swap agreements	—		(85)
Total gain (loss)	$	(1,050)	$	(9,976)

	2020
	Sales		Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(386)	$	—
Interest rate swap agreements	—		(5,914)
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Interest rate swap agreements	—		(376)
Total gain (loss)	$	(386)	$	(6,290)