XML 55 R38.htm IDEA: XBRL DOCUMENT v3.21.2
Derivatives and Hedging Activities (Tables)
12 Months Ended
Jul. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The U.S. dollar equivalent notional amounts of outstanding forward exchange contracts were as follows as of July 31, 2021 and 2020:
  July 31, 2021July 31, 2020
Designated as cash flow hedges$30,724 $24,600 
Non-designated hedges3,580 3,107 
Total foreign exchange contracts$34,304 $27,707 
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table summarizes the amount of pre-tax gains and losses related to derivatives designated as cash flow hedging instruments:
  July 31, 2021July 31, 2020July 31, 2019
Gains (losses) recognized in OCI$1,451 $(576)$837 
Gains reclassified from OCI into cost of goods sold399 614 1,048 
Fair Value, by Balance Sheet Grouping
Fair values of derivative and hedging instruments in the accompanying Consolidated Balance Sheets were as follows: 
 July 31, 2021July 31, 2020
  Prepaid expenses and other current assetsOther current liabilitiesPrepaid expenses and other current assetsOther current liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts (cash flow hedges)$150 $51 $588 $761 
Derivatives not designated as hedging instruments:
Foreign exchange contracts (non-designated hedges)— 16 
Total derivative instruments$150 $51 $594 $777