Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Jul. 31, 2020

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

Schedule of accumulated other comprehensive loss by component

Changes in accumulated other comprehensive loss by component for the years ended July 31, 2020 and 2019 are as follows (in millions):

	Foreign currency translation adjustment		Pension benefits			Derivative financial instruments			Total
Balance as of July 31, 2019, net of tax	$	(92.7)	$	(99.0)		$	(1.2)		$	(192.9)
Other comprehensive income (loss) before reclassifications and tax	18.7		(16.8)			0.6			2.5
Tax benefit	—		4.1			—			4.1
Other comprehensive income (loss) before reclassifications, net of tax	18.7		(12.7)			0.6			6.6
Reclassifications, before tax	—		2.5		(1)	1.0			3.5
Tax expense	—		(0.8)			(0.4)			(1.2)
Reclassifications, net of tax	—		1.7		(2)	0.6		(3)	2.3
Other comprehensive income (loss), net of tax	18.7		(11.0)			1.2			8.9
Balance as of July 31, 2020, net of tax	$	(74.0)	$	(110.0)		$	—		$	(184.0)
Balance as of July 31, 2018, net of tax	$	(66.1)	$	(82.9)		$	(0.8)		$	(149.8)
Other comprehensive loss before reclassifications and tax	(26.6)		(16.3)			(0.6)			(43.5)
Tax benefit	—		4.1			0.1			4.2
Other comprehensive loss before reclassifications, net of tax	(26.6)		(12.2)			(0.5)			(39.3)
Reclassifications, before tax	—		(4.8)		(1)	0.1			(4.7)
Tax benefit	—		0.9			—			0.9
Reclassifications, net of tax	—		(3.9)		(2)	0.1		(3)	(3.8)
Other comprehensive loss, net of tax	(26.6)		(16.1)			(0.4)			(43.1)
Balance as of July 31, 2019, net of tax	$	(92.7)	$	(99.0)		$	(1.2)		$	(192.9)

(1)In fiscal 2020, pension settlement accounting was triggered and the Company recorded a pension settlement charge of $3.1 million, see Note 11. As a result of the related remeasurement, the Company’s pension obligations increased with a corresponding adjustment to other comprehensive loss of $16.8 million. In fiscal 2019, pension settlement accounting was triggered and the Company recorded a pension settlement charge of $2.9 million, see Note 11. As a result of the related remeasurement, the Company’s pension obligations increased with a corresponding adjustment to other comprehensive loss of $16.3 million.

(2)Primarily includes net amortization of prior service costs and actuarial losses included in net periodic benefit cost (see Note 11) that were reclassified from accumulated other comprehensive loss in the Company’s Consolidated Balance Sheet to operating expenses or cost of sales in the Company’s Consolidated Statements of Earnings.

(3)Relates to foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to other income, net in the Company’s Consolidated Statements of Earnings.