Accumulated Other Comprehensive Loss Other Comprehensive Income (Loss)

9 Months Ended

Apr. 30, 2020

Other Comprehensive Income (Loss), Tax [Abstract]

NOTE G — Accumulated Other Comprehensive Loss

Other comprehensive loss consists of foreign currency translation adjustments which includes net investment hedges, unrealized gains and losses from cash flow 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 nine months ended April 30, 2020:


	Unrealized gain on cash flow hedges		Unamortized gain on post-retirement plans		Foreign currency translation adjustments		Accumulated other comprehensive loss
Beginning balance, July 31, 2019	$	707	$	2,800	$	(74,761)	$	(71,254)
Other comprehensive loss before reclassification	(1,363)		(216)		(18,510)		(20,089)
Amounts reclassified from accumulated other comprehensive loss	(584)		(315)		—		(899)
Ending balance, April 30, 2020	$	(1,240)	$	2,269	$	(93,271)	$	(92,242)

The increase in accumulated other comprehensive loss as of April 30, 2020, compared to July 31, 2019, was primarily due to the appreciation of the U.S. dollar against certain other currencies during the nine-month period. The foreign currency translation adjustments column in the table above includes the impact of foreign currency translation and the settlements of net investment hedges, net of tax. Of the total $899 in amounts reclassified from accumulated other comprehensive loss, the $584 gain on cash flow hedges was reclassified into "Cost of goods sold", and the $315 gain on post-retirement plans was reclassified into "Investment and other income" on the condensed consolidated statements of income for the nine months ended April 30, 2020.

The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended April 30, 2019, were as follows:


	Unrealized gain on cash flow hedges		Unamortized gain on post-retirement plans		Foreign currency translation adjustments		Accumulated other comprehensive loss
Beginning balance, July 31, 2018	$	863	$	3,302	$	(60,566)	$	(56,401)
Other comprehensive income (loss) before reclassification	233		(169)		(11,252)		(11,188)
Amounts reclassified from accumulated other comprehensive loss	(434)		(423)		—		(857)
Ending balance, April 30, 2019	$	662	$	2,710	$	(71,818)	$	(68,446)

The increase in accumulated other comprehensive loss as of April 30, 2019, compared to July 31, 2018, was primarily due to the appreciation of the U.S. dollar against certain other currencies during the nine-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 $857 in amounts reclassified from accumulated other comprehensive loss, the $434 gain on cash flow hedges was reclassified into "Cost of goods sold", and the $423 gain on post-retirement plans was reclassified into “Investment and other income” on the condensed consolidated statements of income for the nine months ended April 30, 2019.

The following table illustrates the income tax expense on the components of other comprehensive loss for the three and nine months ended April 30, 2020 and 2019:


	Three months ended April 30,						Nine months ended April 30,
	2020		2019		2020		2019
Income tax expense related to items of other comprehensive loss:
Cash flow hedges	$	(6)	$	38	$	24	$	—
Pension and other post-retirement benefits	—		—		93		—
Other income tax adjustments and currency translation	(173)		(386)		(127)		(610)
Income tax expense related to items of other comprehensive loss	$	(179)	$	(348)	$	(10)	$	(610)