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Fair Value Measurements (Tables)
 12 Months Ended
Jul. 31, 2016
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]  
Fair Value, by Balance Sheet Grouping
The following summarizes the Company’s fair value of outstanding derivatives at July 31, 2016 and 2015, included in the accompanying Consolidated Balance Sheets (in millions):
 
 
Significant Other Observable Inputs
(Level 2)*
 
 
July 31,
 
 
2016
 
2015
Assets
 
 
 
 
Prepaids and other current assets
 
 
 
 
Foreign exchange contracts
 
$
1.1

 
$
3.6

Liabilities
 
 
 
 
Other current liabilities
 
 
 
 
Foreign exchange contracts
 
(2.4
)
 
(2.2
)
Forward exchange contracts - net asset (liability) position
 
$
(1.3
)
 
$
1.4

__________________
*
 
Inputs to the valuation methodology of Level 2 assets include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means.