DERIVATIVES AND HEDGING (Tables)

12 Months Ended

Jul. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of July 31, 2022, the fair value of our derivative instruments designated as cash flow hedges, and the associated notional amounts, presented on a pre-tax basis, were as follows: 

	July 31, 2022
Cash Flow Hedges	Notional		Fair Value in Other Current Assets		Fair Value in Other Current Liabilities
Foreign currency forward contracts	$	33,997	$	—	$	80
Interest rate swap agreements	273,325		850		—
Total derivative financial instruments	$	307,322	$	850	$	80

Schedule of Derivative Instruments, Gain (Loss)

The total amounts presented in the Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments for the fiscal years ended July 31, 2023, 2022 and 2021 are as follows:

	2023		2022		2021
Gain (Loss) on Derivatives Designated as Cash Flow Hedges
Gain (loss) recognized in Other comprehensive income (loss), net of tax
Foreign currency forward contracts	$	—	$	6	$	(63)
Interest rate swap agreements (1)	(675)		9,324		10,231
Total gain (loss)	$	(675)	$	9,330	$	10,168

(1)Other comprehensive income (loss), net of tax, before reclassification from AOCI was $702, $3,626 and $340 for fiscal years 2023, 2022 and 2021, respectively.

	2023
	Sales		Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(58)	$	—
Interest rate swap agreements	—		1,377
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Foreign currency forward contracts	2,742		—
Commodities swap agreements	(2,229)		—
Interest rate swap agreements	—		167
Total gain (loss)	$	455	$	1,544

	2022
	Sales		Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(723)	$	—
Interest rate swap agreements	—		(5,698)
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Interest rate swap agreements	—		428
Total gain (loss)	$	(723)	$	(5,270)

	2021
	Sales		Interest Expense
Gain (Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	(1,050)	$	—
Interest rate swap agreements	—		(9,891)
Gain (Loss) on Derivatives Not Designated as Hedging Instruments
Amount of gain (loss) recognized in income, net of tax
Interest rate swap agreements	—		(85)
Total gain (loss)	$	(1,050)	$	(9,976)