Other Comprehensive Income Other Comprehensive Income, Tax (Notes)

3 Months Ended

Oct. 31, 2014

Other Comprehensive Income, Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

Comprehensive Income

Other comprehensive income consists of foreign currency translation adjustments, unrealized gains and losses from cash flow hedges and net investment hedges, and the unamortized gain on post-retirement plans, net of their related tax effects.

The following table illustrates the changes in the balances of each component of accumulated other comprehensive income, net of tax, for the three months ended October 31, 2014:

	Unrealized gain on cash flow hedges			Unamortized gain on post-retirement plans			Foreign currency translation adjustments			Accumulated other comprehensive income
Beginning balance, July 31, 2014	$	(12	)	$	4,854		$	59,314		$	64,156
Other comprehensive income (loss) before reclassification	418			—			(21,030		)	(20,612		)
Amounts reclassified from accumulated other comprehensive income	13			(295		)	(34,697		)	(34,979		)
Ending balance, October 31, 2014	$	419		$	4,559		$	3,587		$	8,565

The decrease in accumulated other comprehensive income ("AOCI") as of October 31, 2014 compared to July 31, 2014 was primarily due to the accumulated foreign currency translation gains in the China Die-Cut businesses, which were reclassified into net earnings upon the completion of the second phase of the Die-Cut divestiture during the three months ended October 31, 2014. The appreciation of the U.S. dollar against other currencies also contributed to the decrease in AOCI during the quarter. The foreign currency translation adjustments column in the table above includes the impact of foreign currency translation, foreign currency translation on intercompany notes, and the settlements of net investment hedges, net of tax. Of the total $34,979 in amounts reclassified from accumulated other comprehensive income, the $34,697 gain was reclassified to the net loss on the sale of the Die-Cut business, the $13 loss on cash flow hedges was reclassified into cost of products sold, and the $295 gain on post-retirement plans was reclassified into SG&A on the condensed consolidated statement of earnings for the three months ended October 31, 2014.

The changes in accumulated other comprehensive income by component, net of tax, for the three months ended October 31, 2013 were as follows:

	Unrealized gain on cash flow hedges			Unamortized gain on post-retirement plans			Foreign currency translation adjustments		Accumulated other comprehensive income
Beginning balance, July 31, 2013	$	99		$	1,853		$	54,111	$	56,063
Other comprehensive income (loss) before reclassification	(32		)	—			14,273		14,241
Amounts reclassified from accumulated other comprehensive income	(55		)	(117		)	—		(172		)
Ending balance, October 31, 2013	$	12		$	1,736		$	68,384	$	70,132

The increase in accumulated other comprehensive income for the three months ended October 31, 2013 compared to July 31, 2013 was primarily due to the appreciation of the U.S. dollar against other currencies. Of the total $172 in amounts reclassified from accumulated other comprehensive income, the $55 gain on cash flow hedges was reclassified into cost of products sold and the $117 gain on post-retirement plans was reclassified into SG&A on the condensed consolidated statement of earnings for the three months ended October 31, 2013.

The following table illustrates the income tax (expense) benefit on the components of other comprehensive income for the three months ended October 31, 2014 and 2013:

	Three months ended October 31,
	2014			2013
Income tax (expense) benefit related to items of other comprehensive income:
Net investment hedge translation adjustments	$	(3,179	)	$	1,314
Long-term intercompany loan settlements	—			1,403
Cash flow hedges	(203		)	18
Other income tax adjustments and currency translation	56			(93		)
Income tax (expense) benefit related to items of other comprehensive income	$	(3,326	)	$	2,642