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Employee Benefit Plans (Tables)
12 Months Ended
Jul. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of Changes in Accumulated Postemployment Benefit Obligations
The following table provides a reconciliation of the changes in the Plan’s accumulated benefit obligation during the years ended July 31:
 
 
2014
 
2013
Obligation at beginning of year
 
$
13,023

 
$
14,225

Service cost
 
674

 
770

Interest cost
 
534

 
476

Actuarial (gain)/loss
 
(4,691
)
 
(1,745
)
Benefit payments
 
(473
)
 
(703
)
Plan amendments
 
(1,011
)
 

Obligation at end of fiscal year
 
$
8,056

 
$
13,023

Schedule of Amounts Recognized in Balance Sheet
As of July 31, 2014 and 2013, amounts recognized as liabilities in the accompanying consolidated balance sheets consist of:
 
 
2014
 
2013
Current liability
 
$
476

 
$
677

Non-current liability
 
7,580

 
12,346

 
 
$
8,056

 
$
13,023

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
As of July 31, 2014 and 2013, pre-tax amounts recognized in accumulated other comprehensive income in the accompanying consolidated balance sheets consist of:
 
 
2014
 
2013
Net actuarial gain
 
$
7,960

 
$
3,534

Prior service credit
 
2,011

 
1,203

 
 
$
9,971

 
$
4,737

Schedule of Net Periodic Benefit Cost Not yet Recognized
Net periodic benefit cost for the Plan for fiscal years 2014, 2013, and 2012 includes the following components:
 
 
Years Ended July 31,
 
 
2014
 
2013
 
2012
Net periodic postretirement benefit cost included the following components:
 
 
 
 
 
 
Service cost — benefits attributed to service during the period
 
$
674

 
$
770

 
$
644

Prior service credit
 
(203
)
 
(203
)
 
(203
)
Interest cost on accumulated postretirement benefit obligation
 
534

 
476

 
633

Amortization of unrecognized gain
 
(265
)
 
(47
)
 
(189
)
Periodic postretirement benefit cost
 
$
740

 
$
996

 
$
885

Schedule of Assumptions Used
The following assumptions were used in accounting for the Plan:
 
 
2014
 
2013
 
2012
Weighted average discount rate used in determining accumulated postretirement benefit obligation liability
 
3.50
%
 
4.00
%
 
3.25
%
Weighted average discount rate used in determining net periodic benefit cost
 
4.00
%
 
3.25
%
 
4.50
%
Assumed health care trend rate used to measure APBO at July 31
 
7.50
%
 
8.00
%
 
8.00
%
Rate to which cost trend rate is assumed to decline (the ultimate trend rate)
 
5.50
%
 
5.50
%
 
5.50
%
Fiscal year the ultimate trend rate is reached
 
2018

 
2018

 
2016

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage point change in assumed health care cost trend rates would have the following effects on the Plan:


One-Percentage
Point Increase

One-Percentage
Point Decrease
Effect on future service and interest cost

$
14


$
(14
)
Effect on accumulated postretirement benefit obligation at July 31, 2014

26


(28
)
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the years ending July 31:
 
 
2015
$
476

2016
524

2017
596

2018
654

2019
714

2020 through 2024
4,137