Other Comprehensive Income Other Comprehensive Income (Notes)

12 Months Ended

Jul. 31, 2015

Statement of Comprehensive Income [Abstract]

Comprehensive Income (Loss) Note [Text Block]

Other Comprehensive (Loss) Income

Other comprehensive (loss) 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 (loss) income, net of tax, for the periods presented:

	Unrealized gain (loss) on cash flow hedges			Gain on postretirement plans			Foreign currency translation adjustments			Accumulated other comprehensive (loss) income
Ending balance, July 31, 2013	$	99		$	1,853		$	54,111		$	56,063
Other comprehensive (loss) income before reclassification	(21		)	3,313			1,334			4,626
Amounts reclassified from accumulated other comprehensive income	(90		)	(312		)	3,869			3,467
Ending balance, July 31, 2014	$	(12	)	$	4,854		$	59,314		$	64,156
Other comprehensive (loss) income before reclassification	829			2,236			(73,098		)	(70,033		)
Amounts reclassified from accumulated other comprehensive income	(808		)	(3,652		)	(34,697		)	(39,157		)
Ending balance, July 31, 2015	$	9		$	3,438		$	(48,481	)	$	(45,034	)

The decrease in accumulated other comprehensive (loss) income ("AOCI") as of July 31, 2015 compared to July 31, 2014 was primarily due to the appreciation of the U.S. dollar against other currencies, most of which was realized during the six-month period ended January 31, 2015. A significant portion of the decrease was also a result of 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 foreign currency translation adjustments column in the table above includes foreign currency translation, foreign currency translation on intercompany notes and the impact of settlements of net investment hedges, net of tax. Of the total $39,157 in amounts reclassified from AOCI, the $34,697 gain on foreign currency translation adjustments was reclassified to the net loss on the sale of the Die-Cut business, the $808 gain on cash flow hedges was reclassified into cost of products sold, and the $3,652 net gain on post-retirement plans, due primarily to a plan curtailment, was reclassified into SG&A on the Consolidated Statement of Earnings in fiscal 2015.

The following table illustrates the income tax (expense) benefit on the components of other comprehensive income:

	2015			2014			2013
Income tax (expense) benefit related to items of other comprehensive (loss) income:
Net investment hedge translation adjustments	$	(8,450	)	$	302		$	2,877
Long-term intercompany loan settlements	—			579			(650		)
Cash flow hedges	(308		)	28			454
Pension and other post-retirement benefits	949			(1,898		)	(555		)
Other income tax adjustments	(415		)	(58		)	108
Income tax (expense) benefit related to items of other comprehensive (loss) income	$	(8,224	)	$	(1,047	)	$	2,234

The increase in the income tax expense in fiscal 2015 as compared to the prior two fiscal years was primarily related to the foreign currency translation adjustment on the Company's Euro-denominated debt due to the appreciation of the U.S. dollar against the Euro, which is designated as a net investment hedge.