v3.26.3
Employee Benefit Plans (Tables)
 12 Months Ended
Jul. 31, 2026
Defined Benefit Plan Disclosure  
Schedule of Net Periodic Pension Costs and Amounts Recognized in Other Comprehensive Income
Net periodic pension costs for the Company’s pension plans were as follows (in millions):
Year Ended July 31,
202620252024
Net periodic pension costs
Service cost$4.8 $4.3 $5.2 
Interest cost19.4 19.6 20.4 
Expected return on assets(25.4)(25.7)(25.7)
Prior service cost amortization— — 0.1 
Actuarial loss amortization2.0 2.3 1.5 
Settlement loss
4.6 — 4.9 
Curtailment loss
— — 0.2 
Net periodic pension costs5.4 0.5 6.6 
Other changes recognized in other comprehensive income (loss):
Prior service cost— — 0.1 
Net actuarial gain (loss)17.8 (11.6)(9.1)
Amortization of prior service cost0.1 — 0.3 
Amortization of net actuarial loss6.6 2.3 6.4 
Total recognized in other comprehensive loss
24.5 (9.3)(2.3)
Total recognized in net periodic pension costs and other comprehensive income (loss)$19.1 $(9.8)$(8.9)
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets and Funded Status
The changes in projected benefit obligations, fair value of plan assets and funded status of the Company’s pension plans for the years ended July 31, 2026 and 2025 were as follows (in millions):
Year Ended July 31,
20262025
Change in projected benefit obligation
Projected benefit obligation, beginning of year$402.4 $403.7 
Service cost4.8 4.3 
Interest cost19.1 19.6 
Plan amendments— — 
Participant contributions0.8 0.8 
Actuarial (gain) loss
(20.7)(7.1)
Foreign currency exchange rates1.5 6.5 
Settlements paid(13.6)— 
Acquisition
5.8 — 
Benefits paid(20.5)(25.4)
Projected benefit obligation, end of year379.6 402.4 
Change in fair value of plan assets
Fair value of plan assets, beginning of year405.1 413.3 
Actual return on plan assets20.6 8.1 
Company contributions10.8 2.7 
Participant contributions0.8 0.8 
Foreign currency exchange rates1.2 5.6 
Settlements paid(13.6)— 
Acquisition
7.2 — 
Benefits paid(20.5)(25.4)
Fair value of plan assets, end of year411.6 405.1 
Funded status of plans, end of year
$32.0 $2.7 
Amounts recognized on the Consolidated Balance Sheets
Other long-term assets$52.0 $33.9 
Other current liabilities(0.3)(1.4)
Other long-term liabilities(19.7)(29.8)
Net recognized asset $32.0 $2.7 
Schedule of Weighted-Average Discount Rates in Determining Actuarial Present Value of Projected Benefit Obligation
The significant assumptions used in determining the actuarial present value of the projected benefit obligation were as follows:
Year Ended July 31,
20262025
U.S. plans
Discount rate6.04 %5.60 %
Rate of compensation increaseN/AN/A
Non-U.S. plans
Discount rate5.28 %4.82 %
Rate of compensation increase3.08 %3.07 %
Schedule of Assumptions used to Determine Net Periodic Benefit Cost
The weighted average discount rates, expected returns on plan assets and rates of increase in future compensation levels used to determine the net periodic pension costs were as follows:
Year Ended July 31,
202620252024
U.S. plans
Discount rate5.60 %5.44 %5.58 %
Expected rate of return on plan assets6.34 %6.41 %6.16 %
Rate of compensation increaseN/AN/AN/A
Non-U.S. plans
Discount rate4.84 %4.33 %4.80 %
Expected rate of return on plan assets5.38 %4.88 %5.01 %
Rate of compensation increase3.06 %3.02 %3.05 %
Schedule of Estimated Fair Value of Pension Plan Assets and their Respective Levels in the Fair Value Hierarchy During the year ended July 31, 2026, the Company’s asset allocation was as follows:
Salaried Pension PlanHourly Pension Plan
Global equity securities15 %15 %
Fixed income securities85 85 
Total100 %100 %
Schedule of Certain Investments at NAV
Certain investments, valued at NAV, had the following unfunded commitments and/or redemption restrictions (in millions):
July 31, 2026July 31, 2025
NAVUnfunded CommitmentsNAVUnfunded CommitmentsRedemption Frequency
(If Currently Eligible)		Redemption Notice (Days)
Global equity securities$39.4 $1.7 $37.8 $1.8 
Daily and Not Eligible(1)
N/A
Fixed income securities215.7 — 228.6 — DailyN/A
Real asset funds0.5 4.2 2.9 4.2 
Not Eligible(1)
N/A
Total U.S. assets$255.6 $5.9 $269.3 $6.0 
(1)Cannot be redeemed without the consent of the Investment Manager. Although it is not probable that such investments will be sold, it is possible to sell these investments in the secondary market.
Schedule of the Changes in the Fair Value of Non-U.S. Pension Plans' Assets with Unobservable Inputs
The changes in the fair values of the pension plans’ Level 3 assets were as follows (in millions):
Year Ended July 31,
202620252024
Balance as of beginning of year$49.5 $42.7 $41.3 
Unrealized (losses) gains(8.6)3.3 3.4 
Foreign currency exchange0.1 2.6 (0.8)
Purchases and sales, net1.2 0.9 (1.2)
Balance as of end of year$42.2 $49.5 $42.7 
Schedule of Estimated Future Benefit Payments
Estimated future benefit required payments for the Company’s pension plans as of July 31, 2026 were as follows (in millions):
2027$28.3 
2028$29.4 
2029$30.7 
2030$30.5 
2031$29.3 
2032-2036$165.6 
UNITED STATES  
Defined Benefit Plan Disclosure  
Schedule of Estimated Fair Value of Pension Plan Assets and their Respective Levels in the Fair Value Hierarchy
The estimated fair value of pension plan assets and their respective levels in the fair value hierarchy by asset category were as follows (in millions):
Level 1Level 2Level 3Total
Balances as of July 31, 2026
Cash and cash equivalents$6.5 $3.1 $— $9.6 
Global equity securities16.5 42.1 — 58.6 
Fixed income securities8.1 37.4 — 45.5 
Insurance contracts— — 42.2 42.2 
Total investments in the fair value hierarchy$31.1 $82.6 $42.2 155.9 
Investments using NAV as practical expedient255.6 
Total investment, at fair value
411.5 
Accrued expense
0.1 
Total assets
$411.6 
Balances as of July 31, 2025
Cash and cash equivalents$0.3 $2.9 $— $3.2 
Global equity securities3.9 55.2 — 59.1 
Fixed income securities5.0 22.1 — 27.1 
Insurance contracts— — 49.5 49.5 
Total investments in the fair value hierarchy$9.2 $80.2 $49.5 138.9 
Investments using NAV as practical expedient269.3 
Total investment, at fair value
408.2 
Accrued income
(3.1)
Total assets
$405.1