Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of derivative on the balance sheet

The fair value of the Company’s derivative contracts, which are recorded on a gross basis on the Company’s Condensed Consolidated Balance Sheets as of October 31, 2020 and July 31, 2020 are as follows (in millions):

					Fair Values Significant Other Observable Inputs
	Notional Amounts				Assets (1)				Liabilities (2) (3)
	October 31,		July 31,		October 31,		July 31,		October 31,		July 31,
	2020		2020		2020		2020		2020		2020
Forward foreign currency exchange contracts	$	29.3	$	26.2	$	3.7	$	2.1	$	(0.9)	$	(1.4)
Net investment hedge	55.8		55.8		1.1		1.2		(0.3)		—
Interest rate swap	40.0		—		0.2		—		—		—
Total	$	125.1	$	82.0	$	5.0	$	3.3	$	(1.2)	$	(1.4)

(1)As of October 31, 2020, the Company recorded $4.8 million and $0.2 million in prepaid expenses and other current assets, and in other long-term assets, respectively, on the Company’s Condensed Consolidated Balance Sheets. As of July 31, 2020, the Company recorded $3.2 million and $0.1 million in prepaid expenses and other current assets, and in other long-term assets, respectively, on the Company’s Condensed Consolidated Balance Sheets.

(2)The forward foreign currency exchange contracts are recorded in other current liabilities in the Company’s Condensed Consolidated Balance Sheets.

(3) The net investment hedge is recorded in other long-term liabilities in the Company’s Condensed Consolidated Balance Sheets.

Schedule of cash flow hedges

The pre-tax impact of the gains and losses on the Company’s designated forward foreign currency exchange contracts and net investment hedges are as follows (in millions):

	Pre-tax Gains (Losses) Recognized in Accumulated Other Comprehensive Loss
	Three Months Ended October 31,
	2020		2019
Forward foreign currency exchange contracts	$	0.8	$	(0.7)
Net investment hedge	$	(0.7)	$	0.8
Interest rate swap	$	0.2	$	—

	Pre-tax (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended October 31,
	2020		2019
Forward foreign currency exchange contracts	$	—	$	1.9
Net investment hedge	$	—	$	—
Interest rate swap	$	—	$	—

Schedule of net investment hedges

The pre-tax impact of the gains and losses on the Company’s designated forward foreign currency exchange contracts and net investment hedges are as follows (in millions):

	Pre-tax Gains (Losses) Recognized in Accumulated Other Comprehensive Loss
	Three Months Ended October 31,
	2020		2019
Forward foreign currency exchange contracts	$	0.8	$	(0.7)
Net investment hedge	$	(0.7)	$	0.8
Interest rate swap	$	0.2	$	—

	Pre-tax (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended October 31,
	2020		2019
Forward foreign currency exchange contracts	$	—	$	1.9
Net investment hedge	$	—	$	—
Interest rate swap	$	—	$	—