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DEFINED BENEFIT PENSION PLANS (Tables)
 12 Months Ended
Jul. 31, 2021
Retirement Benefits [Abstract]  
Plan Assets Measured at Fair Value on Recurring Basis Classified by Fair Value Hierarchy The following table presents the plan assets measured at fair value on a recurring basis as of July 31, 2021 and 2020, classified by fair value hierarchy:
Fair Value Measurements at Reporting Date Using
(In thousands)July 31, 2021Asset
Allocations		Level 1Level 2Level 3
Insurance contract$28,554 98 %$— $— $28,554 
Other investments669 2 %— — 669 
$29,223 100 %$— $— $29,223 
Fair Value Measurements at Reporting Date Using
(In thousands)July 31, 2020Asset
Allocations		Level 1Level 2Level 3
Insurance contract$28,388 98 %$— $— $28,388 
Other investments662 2 %— — 662 
$29,050 100 %$— $— $29,050 
Aggregate Change in Benefit Obligation and Plan Assets
The following table summarizes the changes in benefit obligation, plan assets and funded status for these plans:
July 31,
20212020
(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year$33,927 $34,538 
Service cost16 185 
Interest cost501 543 
Actuarial gain(664)(691)
Employee contributions— 28 
Benefits and administrative expenses paid(216)(212)
Settlements(46)— 
Effect of curtailment— (2,390)
Currency translation66 1,926 
Benefit obligation at end of year$33,584 $33,927 
Change in plan assets
Fair value of plan assets at beginning of year$29,050 $27,267 
Actual return on plan assets(29)476 
Employer contributions, net393 (39)
Employee contributions— 28 
Settlements(46)— 
Benefits and administrative expenses paid(216)(212)
Currency translation71 1,530 
Fair value of plan assets at end of year$29,223 $29,050 
Funded status
Current liabilities$(13)$(31)
Noncurrent liabilities(4,348)(4,846)
Net amounts recognized on the consolidated balance sheets$(4,361)$(4,877)
Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:
July 31,
20212020
(In thousands)
Projected benefit obligation$33,584 $33,927 
Accumulated benefit obligation$33,584 $33,927 
Fair value of plan assets$29,223 $29,050 
Components of Net Periodic Pension Cost
The following table summarizes the components of net periodic pension cost:
Fiscal Year Ended
July 31,
20212020
(In thousands)
Service cost$16 $185 
Interest costs501 543 
Expected return on plan assets(437)(458)
Amortization of net actuarial loss4 74 
Curtailment gain— (143)
Net periodic pension costs$84 $201 
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost
The table below summarizes the weighted average assumptions used to determine benefit obligations:
Fiscal Year Ended
July 31,
20212020
Discount rate1.49 %1.48 %
Rate of compensation increase— %1.96 %

The table below summarizes weighted average assumptions used to determine net periodic pension cost:
Fiscal Year Ended
July 31,
20212020
Discount rate1.24 %1.39 %
Expected long-term rate of return on plan assets1.20 %1.37 %
Rate of compensation increase— %1.77 %
Summary of Expected Benefit Payments from the Plans through Fiscal 2026
The following table summarizes expected benefit payments from the plans through fiscal year 2026. Actual benefit payments may differ from expected benefit payments. The minimum employer required contributions to the plans are expected to be approximately $0.3 million in fiscal year 2022.
Pension Benefit
Payments
(In thousands)
For the fiscal year ending July 31:
2022257 
2023308 
2024477 
2025395 
2026497 
Next 5 years3,054