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Accumulated Other Comprehensive Loss (Notes)
6 Months Ended
Jan. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Disclosure 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 six months ended January 31, 2024:
Unrealized gain on cash flow hedgesUnamortized gain on post-retirement plansForeign currency translation adjustmentsAccumulated other comprehensive loss
Beginning balance, July 31, 2023$1,641 $756 $(95,458)$(93,061)
Other comprehensive income (loss) before reclassification350 — (5,773)(5,423)
Amounts reclassified from accumulated other comprehensive loss(1,155)(302)— (1,457)
Ending balance, January 31, 2024$836 $454 $(101,231)$(99,941)
The increase in accumulated other comprehensive loss as of January 31, 2024 compared to July 31, 2023 was primarily due to the appreciation of the U.S. dollar against certain other currencies during the six-month period.
The changes in accumulated other comprehensive loss by component, net of tax, for the six months ended January 31, 2023 were as follows:
Unrealized gain on cash flow hedgesUnamortized gain on post-retirement plansForeign currency translation adjustmentsAccumulated other comprehensive loss
Beginning balance, July 31, 2022$954 $1,436 $(111,467)$(109,077)
Other comprehensive income before reclassification1,593 — 12,890 14,483 
Amounts reclassified from accumulated other comprehensive loss(598)(178)— (776)
Ending balance, January 31, 2023$1,949 $1,258 $(98,577)$(95,370)
The decrease in accumulated other comprehensive loss as of January 31, 2023 compared to July 31, 2022 was primarily due to the depreciation of the U.S. dollar against certain other currencies during the six-month period.
Of the amounts reclassified from accumulated other comprehensive loss during the six months ended January 31, 2024 and 2023, unrealized gains on cash flow hedges were reclassified to "Cost of goods sold" and unamortized gains on post-retirement plans were reclassified into "Investment and other income" on the condensed consolidated statements of income.
The following table illustrates the income tax benefit (expense) on the components of other comprehensive income (loss) for the three and six months ended January 31, 2024 and 2023:
Three months ended January 31,Six months ended January 31,
2024202320242023
Income tax benefit (expense) related to items of other comprehensive income (loss):
Cash flow hedges$73 $58 $(55)$124 
Pension and other post-retirement benefits— (62)— (62)
Income tax benefit (expense) related to items of other comprehensive income (loss)$73 $(4)$(55)$62