Derivative Instruments and Hedging |
12 Months Ended |
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Jul. 31, 2026 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Derivative Instruments and Hedging | Note 15. Derivative Instruments and Hedging Derivative Fair Value Measurements The Company enters into derivative instrument agreements, including foreign currency forward contracts and fixed-to-fixed cross-currency swaps, to manage risk in connection with changes in foreign currency. The Company does not enter into derivative instrument agreements for trading or speculative purposes. For discussion on the fair value of the Company’s derivatives, see Note 16. Foreign Currency Forward Contracts - Cash Flow Hedges and Derivatives Not Designated as Hedging Instruments The total notional amount of the foreign currency forward contracts designated as cash flow hedges as of July 31, 2026 and 2025 was $50.8 million and $35.7 million, respectively. The total notional amount of the foreign currency forward contracts not designated as hedges as of July 31, 2026 and 2025 was $164.1 million and $189.6 million, respectively. Changes in the fair value of the Company’s designated hedges are reported in accumulated other comprehensive loss on the Consolidated Balance Sheets until the related transaction occurs, see Note 12. Designated hedges are recognized as a component of either net sales, cost of sales, selling, general and administrative expenses or other income, net in the Consolidated Statements of Earnings upon occurrence of the related hedged transaction. Hedges and subsequent changes in the fair value of hedges that are not designated are recognized in other income, net in the Consolidated Statements of Earnings along with the related hedged transactions. Fixed-to-Fixed Cross-Currency Swap Agreements - Net Investment Hedges The total notional amount of fixed-to-fixed cross-currency swap agreements as of July 31, 2026 was €170 million, or $191.4 million and €80 million, or $88.8 million as of July 31, 2025, all of which were designated as net investment hedges. The maturity dates range from 2027 to 2030. Gains and losses resulting from a change in fair value of the net investment hedges are offset by gains and losses on the underlying foreign currency exposures and are included in accumulated other comprehensive loss on the Consolidated Balance Sheets. Amounts related to excluded components associated with the net investment hedges are expected to be reclassified into earnings in interest expense in the Consolidated Statements of Earnings through their maturity. Interest Rate Swaps - Cash Flow Hedges The Company did not enter into any interest rate swap arrangements during fiscal years 2026 or 2025. As of July 31, 2026 and 2025, there were no outstanding interest rate swap arrangements. Cash Flows Cash flows from derivative transactions are recorded in operating activities in the Consolidated Statements of Cash Flows.
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