Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Apr. 30, 2015

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of Net Benefit Costs

The components of net periodic pension and postretirement health benefit costs were as follows:

	Pension Benefits
	(in thousands)
	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2015			2014			2015			2014
Service cost	$	402		$	352		$	1,205		$	1,073
Interest cost	463			445			1,388			1,316
Expected return on plan assets	(470		)	(428		)	(1,409		)	(1,286		)
Amortization of:
Prior service costs	2			3			7			10
Other actuarial loss	144			93			433			249
Net periodic benefit cost	$	541		$	465		$	1,624		$	1,362
	Postretirement Health Benefits
	(in thousands)
	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2015			2014			2015			2014
Service cost	$	33		$	26		$	100		$	86
Interest cost	26			26			79			84
Amortization of:
Net transition obligation	1			4			1			12
Prior service costs	(2		)	(2		)	(5		)	(5		)
Other actuarial loss	10			5			28			20
Net periodic benefit cost	$	68		$	59		$	203		$	197

Schedule of Assumptions Used

Assumptions used in the previous calculations were as follows:

	Pension Benefits				Postretirement Health Benefits
	For the Three and Nine Months Ended April 30,
	2015		2014		2015		2014
Discount rate for net periodic benefit cost	4.28	%	4.80	%	3.87	%	4.80	%
Rate of increase in compensation levels	3.50	%	3.50	%	—		—
Long-term expected rate of return on assets	7.50	%	7.50	%	—		—

The medical cost trend assumption for postretirement health benefits was 7.5%. The graded trend rate is expected to decrease to an ultimate rate of 5.0% in fiscal 2024.