Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Apr. 30, 2020

Defined Benefit Plan [Abstract]

Schedule of Net Benefit Costs

The components of net periodic pension and postretirement health benefit costs were as follows:

    

	Pension Benefits
	(in thousands)
	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2020			2019			2020			2019
Service cost	$	122		$	407		$	973		$	1,220
Interest cost	444			529			1,456			1,586
Expected return on plan assets	(688		)	(702		)	(2,102		)	(2,107		)
Amortization of:
Prior service costs	—			—			—			1
Other actuarial loss	167			192			837			578
Net periodic benefit cost	$	45		$	426		$	1,164		$	1,278
	Postretirement Health Benefits
	(in thousands)
	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2020			2019			2020			2019
Service cost	$	29		$	27		$	87		$	79
Interest cost	20			24			61			73
Amortization of:
Prior service costs	(2		)	(2		)	(5		)	(5		)
Net periodic benefit cost	$	47		$	49		$	143		$	147

Schedule of Assumptions Used

Assumptions used in the previous calculations were as follows:

    

	Pension Benefits				Postretirement Health Benefits
	For the Three and Nine Months Ended April 30,
	2020		2019		2020		2019
Discount rate for net periodic benefit cost	3.35	%	4.04	%	2.93	%	3.81	%
Rate of increase in compensation levels	3.50	%	3.50	%	—		—
Long-term expected rate of return on assets	7.00	%	7.00	%	—		—

The medical cost trend assumption for postretirement health benefits was 7.35%. The graded trend rate is expected to decrease to an ultimate rate of 4.50% in fiscal year 2038.