v3.22.2.2
Employee Benefit Plans
 3 Months Ended
Oct. 31, 2022
Retirement Benefits, Description [Abstract]  
Employee Benefit Plans
Note 13. Employee Benefit Plans
The Company has defined benefit pension plans for certain hourly and salaried employees. They consist of plans in the U.S., Belgium, Germany, Mexico and the United Kingdom. These plans generally provide pension benefits based on years of service and compensation level. Components of net periodic pension costs other than the service cost component are included in other income, net in the Condensed Consolidated Statements of Earnings.
Net periodic pension costs for the Company’s pension plans were as follows (in millions):
 Three Months Ended
October 31,
 20222021
Service cost$1.6 $1.8 
Interest cost4.1 2.5 
Expected return on assets(6.3)(6.3)
Prior service cost amortization0.1 0.1 
Actuarial loss amortization0.5 1.8 
Net periodic pension costs$— $(0.1)
The Company’s general funding policy is to make at least the minimum required contributions as required by applicable regulations, plus any additional amounts it determines to be appropriate. Future required pension plan contributions may change significantly depending on the actual rate of return on plan assets, discount rates and regulatory requirements.