XML 31 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Other Comprehensive Income Other Comprehensive Income (Notes)
12 Months Ended
Jul. 31, 2018
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, net investment hedge and long-term intercompany loan translation adjustments, net unrealized gains and losses from cash flow hedges, and the unamortized gain on defined-benefit pension 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 periods presented:
 
Unrealized gain (loss) on cash flow hedges
 
Gain on postretirement plans
 
Foreign currency translation adjustments
 
Accumulated other comprehensive loss
Ending balance, July 31, 2016
$
(857
)
 
$
2,236

 
$
(56,124
)
 
$
(54,745
)
Other comprehensive income before reclassification
670

 
867

 
8,713

 
10,250

Amounts reclassified from accumulated other comprehensive loss
296

 
(483
)
 

 
(187
)
Ending balance, July 31, 2017
$
109

 
$
2,620

 
$
(47,411
)
 
$
(44,682
)
Other comprehensive income (loss) before reclassification
465

 
382

 
(14,242
)
 
(13,395
)
Amounts reclassified from accumulated other comprehensive loss
383

 
(576
)
 

 
(193
)
Adoption of accounting standard ASU 2018-02
$
(94
)
 
$
876

 
$
1,087

 
1,869

Ending balance, July 31, 2018
$
863

 
$
3,302

 
$
(60,566
)
 
$
(56,401
)

The increase in accumulated other comprehensive loss as of July 31, 2018, compared to July 31, 2017, was primarily due to the appreciation of the U.S. dollar against certain other currencies during the fiscal year. This was partially offset by the impact of early adopting ASU 2018-02 during the three months ended July 31, 2018, in which stranded tax effects from items related to the Tax Reform Act were reclassified from AOCI to retained earnings. 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 $193 reclassified from AOCI, the $383 loss on cash flow hedges was reclassified into cost of products sold, and the $576 net gain on post-retirement plans was reclassified into selling, general, and administrative expense on the Consolidated Statement of Earnings in fiscal 2018.
The following table illustrates the income tax benefit (expense) on the components of other comprehensive (loss) income:
 
 
2018
 
2017
 
2016
Income tax benefit (expense) related to items of other comprehensive (loss) income:
 
 
 
 
 
 
Net investment hedge translation adjustments
 
$
(55
)
 
$
1,170

 
$
(1,804
)
Cash flow hedges
 
(669
)
 
705

 
192

Pension and other post-retirement benefits
 
(64
)
 
(4
)
 
738

Other income tax adjustments
 
(512
)
 
550

 
(2,154
)
Adoption of accounting standard ASU 2018-02
 
1,869

 

 

Income tax benefit (expense) related to items of other comprehensive (loss) income
 
$
569

 
$
2,421

 
$
(3,028
)