DEFINED BENEFIT PENSION PLANS (Tables)

12 Months Ended

Jul. 31, 2024

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, 2024 and 2023, classified by fair value hierarchy:


	Successor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2024		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	17,516	98	%	$	—	$	—	$	17,516
Other investments	443		2	%	—		—		443
	$	17,959	100	%	$	—	$	—	$	17,959


	Successor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	14,926	97	%	$	—	$	—	$	14,926
Other investments	388		3	%	—		—		388
	$	15,314	100	%	$	—	$	—	$	15,314

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:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	19,119	$	21,103
Adjustment related to unconditional indexation of benefits	—		1,077
Adjustment for termination of Japan pension plan	(227)		—
Service cost	—		10
Interest cost	789		679
Actuarial gain (loss)	2,941		(4,885)

Benefits and administrative expenses paid	(329)		(275)
Settlements	—		(109)

Currency translation	(364)		1,519
Benefit obligation at end of year	$	21,929	$	19,119

Change in plan assets
Fair value of plan assets at beginning of year	$	15,314	$	17,976
Actual return on plan assets	3,141		(3,759)
Employer contributions, net	130		225

Settlements	—		(108)
Benefits and administrative expenses paid	(329)		(275)
Currency translation	(297)		1,255
Fair value of plan assets at end of year	$	17,959	$	15,314

Funded status
Current liabilities	$	—	$	(9)
Noncurrent liabilities	(3,970)		(3,796)
Net amounts recognized on the consolidated balance sheets	$	(3,970)	$	(3,805)

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:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Projected benefit obligation	$	21,929	$	19,119
Accumulated benefit obligation	$	21,929	$	19,119
Fair value of plan assets	$	17,959	$	15,314

Components of Net Periodic Pension Cost

The following table summarizes the components of net periodic pension cost:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Service cost	$	—	$	10
Interest costs	789		679
Expected return on plan assets	(652)		(574)
Amortization of net actuarial loss	6		9

Net periodic pension costs	$	143	$	124

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:


	Successor
	July 31, 2024		July 31, 2023
Discount rate	3.50	%	4.21	%
Rate of compensation increase	—	%	—	%

The table below summarizes weighted average assumptions used to determine net periodic pension cost:


	Successor
	July 31, 2024		July 31, 2023
Discount rate	3.50	%	3.91	%
Expected long-term rate of return on plan assets	3.50	%	3.88	%
Rate of compensation increase	—	%	—	%

Summary of Expected Benefit Payments from the Plans through Fiscal 2026

The following table summarizes expected benefit payments from the plans through fiscal year 2032. Actual benefit payments may differ from expected benefit payments. The minimum employer required contributions to the plans are expected to be approximately $0.7 million in fiscal year 2025.


	Pension Benefit Payments
	(In thousands)
For the fiscal year ending July 31:
2025	$	357
2026	381
2027	405
2028	468
2029	558
Thereafter	3,677