Other Comprehensive Income Other Comprehensive Income, Tax (Notes)

6 Months Ended

Jan. 31, 2016

Other Comprehensive Income (Loss), Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

NOTE C — Other Comprehensive Loss

Other comprehensive loss 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, net of tax, for the six months ended January 31, 2016:

	Unrealized (loss) gain on cash flow hedges			Unamortized gain on post-retirement plans			Foreign currency translation adjustments			Accumulated other comprehensive loss
Beginning balance, July 31, 2015	$	9		$	3,438		$	(48,481	)	$	(45,034	)
Other comprehensive loss before reclassification	(141		)	—			(15,613		)	(15,754		)
Amounts reclassified from accumulated other comprehensive loss	(209		)	(1,358		)	—			(1,567		)
Ending balance, January 31, 2016	$	(341	)	$	2,080		$	(64,094	)	$	(62,355	)

The increase in accumulated other comprehensive loss as of January 31, 2016 compared to July 31, 2015 was primarily due to the appreciation of the U.S. dollar against other currencies during the six month period. 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 $1,567 in amounts reclassified from accumulated other comprehensive loss, the $209 gain on cash flow hedges was reclassified into cost of products sold, and the $1,358 gain on post-retirement plans was reclassified into selling, general and administrative expenses ("SG&A") on the condensed consolidated statement of earnings for the six months ended January 31, 2016.

The changes in accumulated other comprehensive income (loss) by component, net of tax, for the six months ended January 31, 2015 were as follows:

	Unrealized gain (loss) on cash flow hedges			Unamortized gain on post-retirement plans			Foreign currency translation adjustments			Accumulated other comprehensive income (loss)
Beginning balance, July 31, 2014	$	(12	)	$	4,854		$	59,314		$	64,156
Other comprehensive income (loss) before reclassification	1,218			—			(57,598		)	(56,380		)
Amounts reclassified from accumulated other comprehensive income (loss)	(58		)	(590		)	(34,697		)	(35,345		)
Ending balance, January 31, 2015	$	1,148		$	4,264		$	(32,981	)	$	(27,569	)

The decrease in accumulated other comprehensive income (loss) as of January 31, 2015 compared to July 31, 2014 was primarily due the appreciation of the U.S. dollar against other currencies during the six month period. The decrease was also attributable 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 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 $35,345 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 $58 gain on cash flow hedges was reclassified into cost of products sold, and the $590 gain on post-retirement plans was reclassified into SG&A on the condensed consolidated statement of earnings for the six months ended January 31, 2015.

The following table illustrates the income tax expense on the components of other comprehensive loss for the three and six months ended January 31, 2016 and 2015:

	Three months ended January 31,						Six months ended January 31,
	2016			2015			2016			2015
Income tax expense related to items of other comprehensive loss:
Net investment hedge translation adjustments	$	(1,042	)	$	(4,788	)	$	(1,381	)	$	(7,967	)
Long-term intercompany loan settlements	—			501			—			550
Cash flow hedges	56			(394		)	554			(597		)
Other income tax adjustments and currency translation	7			27			(8		)	34
Income tax expense related to items of other comprehensive loss	$	(979	)	$	(4,654	)	$	(835	)	$	(7,980	)