PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Jul. 31, 2012

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following tables provide a reconciliation of changes in the plans’ benefit obligations, assets’ fair values and funded status for the fiscal years ended July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2012			2011			2012			2011
Change in benefit obligation:
Benefit obligation, beginning of year	$	31,142		$	27,994		$	2,042		$	1,933
Service cost	1,324			1,293			104			85
Interest cost	1,617			1,507			105			91
Actuarial loss	8,609			1,071			424			50
Benefits paid	(853		)	(723		)	(90		)	(117		)
Benefit obligation, end of year	$	41,839		$	31,142		$	2,585		$	2,042

Change in plan assets:
Fair value of plan assets, beginning of year	$	19,878		$	17,287		$	—		$	—
Actual return on plan assets	15			2,033			—			—
Employer contribution	1,068			1,281			90			117
Benefits paid	(853		)	(723		)	(90		)	(117		)
Fair value of plan assets, end of year	$	20,108		$	19,878		$	—		$	—
Funded status, recorded in Consolidated Balance Sheets	$	(21,731	)	$	(11,264	)	$	(2,585	)	$	(2,042	)

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

The following table shows amounts recognized in the Consolidated Balance Sheets as of July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2012			2011			2012			2011
Deferred income taxes	$	7,274		$	3,623		$	927		$	741
Other current liabilities	—			—			(75		)	(71		)
Other noncurrent liabilities	(21,731		)	(11,264		)	(2,510		)	(1,971		)
Accumulated other comprehensive income –net of tax:
Net actuarial loss	10,883			4,833			655			410
Prior service cost	33			42			—			—
Net obligation at transition	—			—			20			30

Schedule of Net Benefit Costs [Table Text Block]

The following table shows the components of the net periodic pension and postretirement health benefit costs for the fiscal years ended July 31 (in thousands):



	Pension Cost									Postretirement Health Benefit Cost
	2012			2011			2010			2012		2011		2010
Service cost	$	1,324		$	1,293		$	1,137		$	104	$	85	$	74
Interest cost	1,617			1,507			1,416			105		91		96
Expected return on plan assets	(1,480		)	(1,287		)	(1,167		)	—		—		—
Amortization of:
Net transition obligation	—			—			—			15		15		16
Prior service costs	15			23			46			—		—		—
Other actuarial loss	317			316			230			30		14		21
Net periodic benefit cost	$	1,793		$	1,852		$	1,662		$	254	$	205	$	207

Schedule of Amounts Recognized in Other Comprehensive Income [Table Text Block]

The following table shows amounts, net of tax, that are recognized in other comprehensive income for the fiscal years ended July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2012			2011			2012			2011
Net actuarial loss	$	6,246		$	202		$	263		$	31
Amortization of:
Prior service cost	(9		)	(14		)	—			—
Net transition obligation	—			—			(10		)	(10		)
Amortization of actuarial loss	(196		)	(196		)	(18		)	(8		)
Total recognized in other comprehensive (income) loss	$	6,041		$	(8	)	$	235		$	13

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The following table shows amortization amounts, net of tax, expected to be recognized in fiscal 2013 in accumulated other comprehensive income (in thousands):



Amortization of:	Pension Benefits		Postretirement Health Benefits
Net actuarial loss	$	550	$	33
Prior service cost	9		—
Net obligation at transition	—		10
Total to be recognized as other comprehensive loss	$	559	$	43

Schedule of Expected Benefit Payments [Table Text Block]

The following table shows the estimated future benefit payments (in thousands):



	Pension Benefits		Postretirement Health Benefits
2013	$	977	$	75
2014	1,096		60
2015	1,161		87
2016	1,198		122
2017	1,292		137
2018-22	8,101		886

Schedule of Assumptions Used [Table Text Block]

The assumptions used in the previous calculations were as follows:



	Pension Benefits		Postretirement Health Benefits
	2012	2011	2012	2011
Discount rate for net periodic benefit costs	5.25%	5.50%	5.25%	5.50%
Discount rate for year-end obligations	3.75%	5.25%	3.75%	5.25%
Rate of increase in compensation levels for net periodic benefit costs	4.00%	4.00%	—	—
Rate of increase in compensation levels for year-end obligations	3.50%	4.00%	—	—
Long-term expected rate of return on assets	7.50%	7.50%	—	—

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

The following table reflects the effect on postretirement health costs and accruals of a one-percentage point change in the assumed health care cost trend in the fiscal year ended July 31, 2012 (in thousands):



	One-Percentage Point Increase	One-Percentage Point Decrease
Effect on total service and interest cost	$32	$(27)
Effect on accumulated postretirement benefit obligation	$327	$(282)

Schedule of Allocation of Plan Assets [Table Text Block]

The targeted allocation percentages of plan assets is shown below for fiscal 2013 and the actual allocation as of July 31:



Asset Allocation	Target fiscal 2013	2012	2011
Cash and accrued income	2%	7%	6%
Fixed income	38%	32%	31%
Equity	60%	61%	63%

Fair Value, Measurement Inputs, Disclosure [Table Text Block]

The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets carried at fair value as of July 31 (in thousands):



	Fair Value At July 31, 2012
	Total		Quoted Prices in Active Markets for identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Class
Cash and Cash Equivalents^(a)	$	1,536	$	1,536	$	—	$	—
Equity securities^(b):
U.S. companies	7,856		7,797		59		—
International companies	1,349		1,349		—		—
Equity securities - international mutual funds:
Developed market^(c)	1,298		—		1,298		—
Emerging markets^(d)	501		—		501		—
Commodities^(e)	648		5		643		—
Fixed Income:
U.S. Treasuries	3,038		—		3,038		—
Corporate bonds^(f)	2,413		—		2,413		—
Emerging markets^(g)	664		—		664		—
Government sponsored entities^(h)	256		—		256		—
Other⁽ⁱ⁾	549		—		549		—
Total	$	20,108	$	10,687	$	9,421	$	—



	Fair Value At July 31, 2011
	Total		Quoted Prices in Active Markets for identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Class
Cash and Cash Equivalents^(a)	$	1,210	$	1,210	$	—	$	—
Equity securities^(b):
U.S. companies	$	7,511	$	7,383	$	128	$	—
International companies	$	1,781	$	1,781	$	—	$	—
Equity securities - international mutual funds:
Developed market^(c)	$	1,542	$	—	$	1,542	$	—
Emerging markets^(d)	$	540	$	—	$	540	$	—
Commodities^(e)	$	680	$	8	$	672	$	—
Fixed Income:
U.S. Treasuries	$	2,841	$	—	$	2,841	$	—
Corporate bonds^(f)	$	2,179	$	—	$	2,179	$	—
Emerging markets^(g)	$	650	$	—	$	650	$	—
Government sponsored entities^(h)	$	422	$	—	$	422	$	—
Other⁽ⁱ⁾	$	522	$	—	$	522	$	—
Total	$	19,878	$	10,382	$	9,496	$	—


(a)	Cash and cash equivalents consists of highly liquid investments which are traded in active markets.


(b)	This class represents equities traded on regulated exchanges.


(c)	These mutual funds seek long-term capital growth by investing at least 80% of their assets in stocks of non- U.S. companies that are primarily in developed markets, however the fund allows up to 20% in 2012 and 35% in 2011 to be invested in emerging markets.


(d)	These mutual funds seek long-term capital growth by investing at least 80% of their assets in stocks of companies located in Asia, excluding Japan.


(e)	The majority of the investments in this class seek maximum real return by investing primarily in commodity-linked derivative instruments. Assets not invested in commodity-linked instruments may be invested in inflation-indexed securities and other fixed income instruments.


(f)	This class includes bonds of U.S. and non-U.S. issuers from diverse industries.


(g)	This class invests at least 80% of its net assets, plus any borrowing for investment purposes, directly in, or in derivative instruments that provide exposure to, emerging market bonds and other debt instruments denominated in the local currency of issue.


(h)	This class represents a beneficial ownership interest in a pool of single-family residential mortgage loans. These investments are not backed by the full faith and credit of the United States government.


(i)	This class seek long-term positive returns by employing a number of arbitrage and alternative investment strategies. The portfolio of instruments may include equities, convertible securities, debt securities, warrants, options, swaps, future contracts, forwards or other types of derivative instruments.