Accumulated Other Comprehensive Loss

12 Months Ended

Jul. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Other comprehensive loss consists of foreign currency translation adjustments which includes net investment hedges and long-term intercompany loan translation adjustments, unrealized gains 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 periods presented:

	Unrealized gain on cash flow hedges		Unamortized gain on postretirement plans		Foreign currency translation adjustments		Accumulated other comprehensive loss
Ending balance, July 31, 2021	$	729	$	1,888	$	(58,570)	$	(55,953)
Other comprehensive income (loss) before reclassification	907		326		(52,897)		(51,664)
Amounts reclassified from accumulated other comprehensive loss	(682)		(778)		—		(1,460)
Ending balance, July 31, 2022	$	954	$	1,436	$	(111,467)	$	(109,077)
Other comprehensive income (loss) before reclassification	2,292		(352)		16,009		17,949
Amounts reclassified from accumulated other comprehensive loss	(1,605)		(328)		—		(1,933)
Ending balance, July 31, 2023	$	1,641	$	756	$	(95,458)	$	(93,061)

The decrease in accumulated other comprehensive loss as of July 31, 2023 compared to July 31, 2022 was primarily due to the depreciation of the U.S. dollar against certain other currencies during the fiscal year. Of the amounts reclassified from accumulated other comprehensive loss during the years ended July 31, 2023 and 2022, unrealized gains on cash flow hedges were reclassified into "Cost of goods sold" and net unamortized gains on post-retirement plans were reclassified into "Investment and other income" on the Consolidated Statements of Income.

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

	Years Ended July 31,
	2023		2022		2021
Income tax benefit (expense) related to items of other comprehensive income (loss):
Cash flow hedges	$	147	$	(148)	$	(123)
Pension and other post-retirement benefits	202		167		95
Other income tax adjustments and currency translation	—		505		(378)
Income tax benefit (expense) related to items of other comprehensive income (loss)	$	349	$	524	$	(406)