Retirement Plans (Tables)

12 Months Ended

Jul. 31, 2014

Change in Benefit Obligation

Change in Benefit Obligation

	Years Ended July 31,
	2014			2013
(in millions)
Balance at beginning of year	$	14.5		$	15.5
Current service cost		1.1			1.4
Foreign currency exchange gain		(0.9	)		(0.4	)
Interest cost		0.7			0.6
Net actuarial loss (gain)		3.3			(2.3	)
Plan participants contributions		0.2			0.3
Benefit payments		(0.9	)		(0.6	)
Transfers from other plans		0.1			—
Balance at end of year	$	18.1		$	14.5

Change in Plan Assets

Change in Plan Assets

	2014			2013
(in millions)
Fair value at beginning of year	$	13.4		$	10.9
Actual return on plan assets		2.2			1.5
Employer contributions		1.5			1.6
Plan participant contributions		0.2			0.3
Benefits paid		(0.9	)		(0.6	)
Foreign currency exchange gain		(0.8	)		(0.3	)
Transfers from other plans		0.1			—
Fair value at end of year	$	15.7		$	13.4
Funded status	$	(2.4	)	$	(1.1	)
Recognized Long-term liability	$	(2.4	)	$	(1.1	)

Net Periodic Benefit Cost

The components of our net periodic benefit cost are as follows:

	Years Ended July 31,
	2014			2013			2012
(in millions)
Service cost	$	1.1		$	1.4		$	1.1
Interest cost		0.6			0.6			0.6
Expected return on plan assets		(0.8	)		(0.7	)		(0.7	)
Amortization of net actuarial loss recognized		0.1			0.4			0.2
Total net periodic benefit cost	$	1.0		$	1.7		$	1.2

Amounts Recognized in Accumulated Other Comprehensive Income, Pretax

Amounts Recognized in Accumulated Other Comprehensive Income, Pretax

	Years Ended July 31,
	2014			2013
(in millions)
Net loss	$	5.2		$	3.6
Net transition asset		(0.1	)		(0.1	)
Accumulated other comprehensive loss	$	5.1		$	3.5

Actuarial Assumptions

Actuarial assumptions for the Analogic Canada Plan are described below. The discount rates at July 31 were used to measure the fiscal year end benefit obligations and the earnings effects for the subsequent year. The discount rate is based on high quality corporate bond spot rates with cash flows that match the timing and amount of expected benefit payments.

	Years Ended July 31,
	2014			2013			2012
Discount rate		4.80	%		4.80	%		4.20	%
Expected return on assets		6.00	%		6.00	%		6.00	%

Plan Assets Held in Trust

Plan Assets

The Analogic Canada Plan assets are held in trust, as follows:

	July 31, 2014						July 31, 2013
	Target allocation			Actual allocation			Actual allocation
Equity securities		60.0	%		60.9	%		65.8	%
Debt securities		40.0	%		39.1	%		34.2	%
Total		100.0	%		100.0	%		100.0	%

Fair Value of Analogic Canada Plan Pension Assets by Asset Category

The fair value of the Analogic Canada Plan pension assets by asset category at July 31, 2014 and 2013 are as follows:

(in millions)	Fair Value Measurements at July 31, 2014
Assets	Quoted Prices in Active Markets for Indentical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Assets at Fair Value
Mutual funds (a)	$	—	$	—	$	15.7	$	15.7
Total	$	—	$	—	$	15.7	$	15.7
(in millions)	Fair Value Measurements at July 31, 2013
Assets	Quoted Prices in Active Markets for Indentical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Assets at Fair Value
Mutual funds (a)	$	—	$	—	$	13.4	$	13.4
Total	$	—	$	—	$	13.4	$	13.4

(a) This comprises units of segregated pooled funds with an insurance company. These funds have underlying values primarily derived from mutual funds that have debt and equity securities, which are traded on an active market based on the closing price of each trading day.

Fair Value Measurements Using Signficant Unobservable Inputs

	Fair  Value Measurements Using Significant Unobservable Inputs (Level 3)
(in millions)	July 31, 2014			July 31, 2013
Balance at beginning of fiscal year	$	13.4		$	10.9
Actual return on plan assets
Relating to assets still held at end of fiscal year		2.2			1.6
Purchases, sales, and settlements		0.9			1.2
Foreign currency exchange losses		(0.8	)		(0.3	)
Balance at end of fiscal year	$	15.7		$	13.4

Estimated Future Benefit Payments

Estimated Future Benefit Payments

Estimated future benefit payments under the Analogic Canada Plan are as follows:

(in millions)	2015	2016	2017	2018	2019	2020-24
	$0.3	$0.4	$0.4	$0.4	$0.4	$3.1