Derivatives and Hedging (Tables)

3 Months Ended

Oct. 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:

	October 31, 2022						July 31, 2022
			Fair Value in		Fair Value in				Fair Value in		Fair Value in
			Other Current		Other Current				Other Current		Other Current
Cash Flow Hedges	Notional		Assets		Liabilities		Notional		Assets		Liabilities
Foreign currency forward contracts	$	—	$	—	$	—	$	33,997	$	—	$	80
Interest rate swap agreements	220,350		1,831		—		273,325		850		—
Total derivative financial instruments	$	220,350	$	1,831	$	—	$	307,322	$	850	$	80

Derivative Instruments, Gain (Loss)

The total amounts presented in the Condensed Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the derivative instruments are as follows:

	Three Months Ended October 31,
	2022		2021
Gain (Loss) on Derivatives Designated as Cash Flow Hedges
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Foreign currency forward contracts	$	—	$	(141)
Interest rate swap agreements (1)	746		2,496
Total gain (loss)	$	746	$	2,355

(1)Other comprehensive income (loss), net of tax, before reclassification from AOCI was $854 and $607 for the three months ended October 31, 2022 and 2021, respectively.

	Three Months Ended October 31,
	2022				2021
			Interest				Interest
	Sales		Expense		Sales		Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(58)	$	—	$	(13)	$	—
Interest rate swap agreements	—		108		—		(1,889)
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Foreign currency forward contracts	$	828	$	—	$	—	$	—
Commodities swap agreements	(662)		—		—		—
Interest rate swap agreements	—		254		—		87
Total gain (loss)	$	108	$	362	$	(13)	$	(1,802)