Pension and Other Postretirement Benefits (Tables)

6 Months Ended

Jan. 31, 2023

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

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


	Pension Benefits
	(in thousands)
	For the Three Months Ended January 31,				For the Six Months Ended January 31,
	2023		2022		2023		2022
Interest cost	$	338	$	266	$	673	$	534
Expected return on plan assets	(558)		(646)		(1,116)		(1,293)
Amortization of:
Other actuarial loss	19		35		28		72
Net periodic benefit cost	$	(201)	$	(345)	$	(415)	$	(687)

	Postretirement Health Benefits
	(in thousands)
	For the Three Months Ended January 31,				For the Six Months Ended January 31,
	2023		2022		2023		2022
Service cost	$	20	$	28	$	42	$	61
Interest cost	16		13		36		29
Amortization of:
Other actuarial loss	(23)		—		(41)		—
Prior service costs	(1)		(2)		(3)		(3)
Net periodic benefit cost	$	12	$	39	$	34	$	87

Schedule of Assumptions Used

Assumptions used in the previous calculations were as follows:


	Pension Benefits				Postretirement Health Benefits
	For the Three and Six Months Ended January 31,
	2023		2022		2023		2022
Discount rate for net periodic benefit cost	4.05	%	2.57	%	3.82	%	2.10	%
Rate of increase in compensation levels	—	%	—	%	—	%	—	%
Long-term expected rate of return on assets	6.50	%	6.50	%	—	%	—	%

The medical cost trend assumption for postretirement health benefits was 8.50%. The graded trend rate is expected to decrease to an ultimate rate of 4.90% in fiscal year 2044.