Pension and Other Postretirement Benefits (Tables)

3 Months Ended

Oct. 31, 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 October 31,
	2020		2019
Service cost	$	—	$	488
Interest cost	—		509
Expected return on plan assets	—		(698)
Amortization of:
Other actuarial loss	170		357
Net periodic benefit cost	$	170	$	656
	Postretirement Health Benefits
	(in thousands)
	For the Three Months Ended October 31,
	2020		2019
Service cost	$	35	$	30
Interest cost	13		21
Amortization of:
Prior service costs	(1)		(1)
Net periodic benefit cost	$	47	$	50

Schedule of Assumptions Used

Assumptions used in the previous calculations were as follows:

	Pension Benefits				Postretirement Health Benefits
	For the Three Months Ended October 31,
	2020		2019		2020		2019
Discount rate for net periodic benefit cost	2.14	%	3.35	%	1.63	%	2.93	%
Rate of increase in compensation levels	—	%	3.50	%	—		—
Long-term expected rate of return on assets	6.50	%	7.00	%	—		—

The medical cost trend assumption for postretirement health benefits was 7.20%. The graded trend rate is expected to decrease to an ultimate rate of 4.50% in fiscal year 2038.