Donaldson (DCI) 10-K 24 Sep 21 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jul. 31, 2021	Sep. 10, 2021	Jan. 31, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jul. 31, 2021
Current Fiscal Year End Date	--07-31
Document Transition Report	false
Entity File Number	1-7891
Entity Registrant Name	DONALDSON COMPANY, INC.
Entity Incorporation, State	DE
Entity Tax Identification Number	41-0222640
Entity Address, Street Address	1400 West 94th Street
Entity Address, City	Minneapolis
Entity Address, State	MN
Entity Address, Postal Zip Code	55431
City Area Code	952
Local Phone Number	887-3131
Title of each class	Common Stock, $5.00 par value
Trading Symbol(s)	DCI
Name of each exchange on which registered	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 7,459,060,097
Entity Common Stock, Shares Outstanding		124,010,864
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for its 2021 annual meeting of stockholders (the “2021 Proxy Statement”) are incorporated by reference in Part III, as specifically set forth in Part III.
Entity Central Index Key	0000029644
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Statement [Abstract]
Net sales	$ 2,853.9	$ 2,581.8	$ 2,844.9
Cost of sales	1,882.2	1,710.2	1,896.6
Gross profit	971.7	871.6	948.3
Selling, general and administrative	519.2	470.3	497.8
Research and development	67.8	61.2	62.3
Operating expenses	587	531.5	560.1
Operating income	384.7	340.1	388.2
Interest expense	13	17.4	19.9
Other income, net	(9.3)	(12.5)	(6.9)
Earnings before income taxes	381	335.2	375.2
Income taxes	94.1	78.2	108
Net earnings	$ 286.9	$ 257	$ 267.2
Weighted average shares – basic (in shares)	126.4	126.9	128.3
Weighted average shares – diluted (in shares)	128.2	128.3	130.3
Net earnings per share – basic (in dollars per share)	$ 2.27	$ 2.03	$ 2.08
Net earnings per share – diluted (in dollars per share)	$ 2.24	$ 2	$ 2.05

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 286.9	$ 257	$ 267.2
Other comprehensive income (loss):
Foreign currency translation income (loss)	30	18.7	(26.6)
Pension liability adjustment, net of deferred taxes of $(11.5), $3.3 and $5.0, respectively	35.3	(11)	(16.1)
Derivatives:
Gains (losses) on hedging derivatives, net of deferred taxes of $(0.2), $0.0 and $0.1, respectively	0.8	0.6	(0.5)
Reclassification of (gains) losses on hedging derivatives to net income, net of taxes of $(0.1), $(0.4) and $0.0, respectively	(0.3)	0.6	0.1
Total derivatives	0.5	1.2	(0.4)
Net other comprehensive income (loss)	65.8	8.9	(43.1)
Comprehensive income	$ 352.7	$ 265.9	$ 224.1

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Statement of Comprehensive Income [Abstract]
Pension liability adjustments, tax	$ (11.5)	$ 3.3	$ 5
Gains (losses) on hedging derivatives, deferred taxes	(0.2)	0	0.1
Reclassification of losses (gains) on hedging derivatives to net income, taxes	$ (0.1)	$ (0.4)	$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Current assets:
Cash and cash equivalents	$ 222.8	$ 236.6
Accounts receivable, less allowances of $7.0 and $6.2, respectively	552.7	455.3
Inventories, net	384.5	322.7
Prepaid expenses and other current assets	84	82.1
Total current assets	1,244	1,096.7
Property, plant and equipment, net	617.8	631.6
Goodwill	322.5	316.8
Intangible assets, net	61.6	67.3
Other long-term assets	154.3	132.2
Total assets	2,400.2	2,244.6
Current liabilities:
Short-term borrowings	48.5	3.8
Current maturities of long-term debt	0	5.7
Accounts payable	293.9	187.7
Accrued employee compensation and related taxes	126.8	71.2
Current lease liabilities	18.1	25.7
Dividend payable	27.6	26.6
Other current liabilities	91.7	86.1
Total current liabilities	606.6	406.8
Long-term debt	461	617.4
Non-current income taxes payable	80.7	87.4
Deferred income taxes	26.6	16.7
Other long-term liabilities	88.2	112.5
Total liabilities	1,263.1	1,240.8
Commitments and contingencies (Note 17)
Redeemable non-controlling interest	0	10.9
Stockholders’ equity:
Preferred stock, $1.00 par value, 1,000,000 shares authorized, none issued	0	0
Common stock, $5.00 par value, 240,000,000 shares authorized, 151,643,194 shares issued	758.2	758.2
Additional paid-in capital	5.8	0
Retained earnings	1,608.4	1,430
Non-controlling interest	0	5.8
Stock-based compensation plans	12.8	15.9
Accumulated other comprehensive loss	(118.2)	(184)
Treasury stock, 26,620,560 and 25,304,515 shares, respectively, at cost	(1,129.9)	(1,033)
Total stockholders’ equity	1,137.1	992.9
Total liabilities and stockholders’ equity	$ 2,400.2	$ 2,244.6

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 7	$ 6.2
Preferred stock (in usd per share)	$ 1	$ 1
Preferred stock (in shares)	1,000,000	1,000,000
Preferred stock (in shares)	0	0
Common stock (in usd per share)	$ 5	$ 5
Common stock (in shares)	240,000,000	240,000,000
Common stock (in shares)	151,643,194	151,643,194
Treasury stock (in shares)	26,620,560	25,304,515

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Operating Activities
Net earnings	$ 286.9	$ 257	$ 267.2
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	95.3	87.6	81.1
Equity in earnings of affiliates, net of distributions	(2.1)	(2.7)	(1.2)
Deferred income taxes	(5.9)	2.7	10.2
Stock-based compensation expense	14.2	15.2	15
Other, net	19.6	23.9	(7.6)
Changes in operating assets and liabilities, excluding effect of acquired businesses:
Accounts receivable, net	(92.7)	77.1	1.4
Inventories, net	(56.3)	11.9	(5.5)
Prepaid expenses and other current assets	(5.3)	1.4	(9.7)
Income taxes payable	(3.6)	(13.1)	(2)
Accounts payable and other accrued expenses	151.8	(74)	(3.1)
Net cash provided by operating activities	401.9	387	345.8
Investing Activities
Purchases of property, plant and equipment	(59)	(124.4)	(150.7)
Proceeds from sale of property, plant and equipment	0.7	2	0.3
Acquisitions, net of cash acquired	0	(6.5)	(96)
Net cash used in investing activities	(58.3)	(128.9)	(246.4)
Financing Activities
Proceeds from long-term debt	7.9	262.4	155
Repayments of long-term debt	(170.4)	(281)	(44.8)
Change in short-term borrowings	45.2	0.9	(25.3)
Purchase of non-controlling interests	(14.4)	0	(1.1)
Purchase right exercised in finance lease	(13.8)	0	0
Purchase of treasury stock	(142.2)	(94.3)	(129.2)
Dividends paid	(107.2)	(106.4)	(99.7)
Tax withholding for stock compensation transactions	(4.2)	(6.3)	(4.1)
Exercise of stock options	35.8	25.2	25.9
Net cash used in financing activities	(363.3)	(199.5)	(123.3)
Effect of exchange rate changes on cash	5.9	0.2	(3)
(Decrease) increase in cash and cash equivalents	(13.8)	58.8	(26.9)
Cash and cash equivalents, beginning of year	236.6	177.8	204.7
Cash and cash equivalents, end of year	222.8	236.6	177.8
Supplemental Cash Flow Information
Income taxes paid	105.9	90.7	99.3
Interest paid	10.9	17.1	19.1
Supplemental Disclosure of Non-Cash Operating and Investing Transactions
Accrued property, plant and equipment additions	7	9.5	16.5
Leased assets obtained in exchange for new operating lease liabilities	12.4	33.1
Transfer of operating lease asset and operating lease liability	$ (9.2)	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Non- Controlling Interest	Stock-Based Compensation Plans	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning Balance at Jul. 31, 2018	$ 857.8	$ 758.2	$ 0	$ 1,122.1	$ 4.8	$ 21.3	$ (149.8)	$ (898.8)
Comprehensive income
Net earnings	267.2			267.2
Foreign currency translation	(26.6)						(26.6)
Pension liability adjustment, net of deferred taxes	(16.1)						(16.1)
Gains (losses) on hedging derivatives, net of deferred taxes	(0.5)						(0.5)
Reclassification of gains on hedging derivatives to net income	0.1						0.1
Comprehensive income	224.1
Treasury stock acquired	(129.2)							(129.2)
Stock options exercised	25			(17.2)				42.2
Stock compensation expense	15			10.9		3.8		0.3
Deferred stock and other activity	2			0.5	0.6	(3.4)		4.3
Dividends	(102)			(102)
Ending Balance at Jul. 31, 2019	892.7	758.2	0	1,281.5	5.4	21.7	(192.9)	(981.2)
Comprehensive income
Net earnings	257			257
Foreign currency translation	18.7						18.7
Pension liability adjustment, net of deferred taxes	(11)						(11)
Gains (losses) on hedging derivatives, net of deferred taxes	0.6						0.6
Reclassification of gains on hedging derivatives to net income	0.6						0.6
Comprehensive income	265.9
Treasury stock acquired	(94.3)							(94.3)
Stock options exercised	24.9			(9.1)				34
Stock compensation expense	15.2			11.9		3.4		(0.1)
Deferred stock and other activity	(5.4)			(5.2)	0.4	(9.2)		8.6
Dividends	(106.1)			(106.1)
Ending Balance at Jul. 31, 2020	992.9	758.2	0	1,430	5.8	15.9	(184)	(1,033)
Comprehensive income
Net earnings	286.9			286.9
Foreign currency translation	30						30
Pension liability adjustment, net of deferred taxes	35.3						35.3
Gains (losses) on hedging derivatives, net of deferred taxes	0.8						0.8
Reclassification of gains on hedging derivatives to net income	(0.3)						(0.3)
Comprehensive income	352.7
Treasury stock acquired	(142.2)							(142.2)
Stock options exercised	35.6			(5.9)				41.5
Stock compensation expense	14.2		3.6	8.8		1.9		(0.1)
Deferred stock and other activity	(4.3)			(3.3)	0.1	(5)		3.9
Purchase of non-controlling interest	(3.7)		2.2		(5.9)
Dividends	(108.1)			(108.1)
Ending Balance at Jul. 31, 2021	$ 1,137.1	$ 758.2	$ 5.8	$ 1,608.4	$ 0	$ 12.8	$ (118.2)	$ (1,129.9)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	Jul. 30, 2021	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends, per share (in dollars per share)	$ 0.220	$ 0.86	$ 0.84	$ 0.80

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Description of Business Donaldson Company, Inc. (the Company) is a global manufacturer of filtration systems and replacement parts. The Company’s core strengths include leading filtration technology, strong customer relationships and its global presence. Products are manufactured and sold around the world. Products are sold to original equipment manufacturers (OEMs), distributors, dealers and directly to end users. Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company and all of its majority-owned subsidiaries. All intercompany accounts and transactions have been elimin ated. The Company’s joint ventures are not majority-owned and are accounted for under the equity method. Certain reclassifications to previously reported financial information have been made to conform to the current period presentation. Use of Estimates The preparation of the Company’s financial statements in conformity with generally accepted accounting principles (GAAP) in the United States (U.S.) requires management to make estimates and assumptions that affect the amount of assets and liabilities and the disclosures regarding contingent assets and liabilities at period end, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The effects of the ongoing Coronavirus (COVID-19) pandemic continue to impact global economic conditions. Management cannot predict with specificity the extent and duration of any future impact on the Company’s business and financial results from the COVID-19 pandemic. Foreign Currency Translation For most foreign operations, local currencies are considered the functional currency. Assets and liabilities of non-U.S. dollar functional currency entities are translated to U.S. dollars at fiscal year-end exchange rates and the resulting gains and losses arising from the translation of net assets located outside the U.S. are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive loss on the Consolidated Balance Sheets. Elements of the Consolidated Statements of Earnings are translated at average exchange rates in effect during the fiscal year. Foreign currency transaction losses are included in other income, net in the Consolidated Statements of Earnings and w ere $2.9 million , $4.7 million and $4.9 million in the years ended July 31, 2021, 2020 and 2019, respectively. Cash Equivalents The Company considers all highly liquid temporary investments with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost which approximates market value. Revenue Recognition Revenue is measured as the amount of consideration the Company expects to receive in exchange for the fulfillment of performance obligations. The transaction price of a contract could be reduced by variable consideration including product volume rebates, discounts, refunds and returns, in the determination of net sales. The Company primarily relies on historical experience and anticipated future performance to estimate variable consideration. Revenue is recognized to the extent that it is probable that a significant reversal of revenue will not occur when outstanding contingencies are resolved. The Company accounts for amounts billed to customers for reimbursement of shipping and handling as fulfillment costs by recording these amounts as revenue and accruing costs when the related revenue is recognized. For most customer contracts, the Company recognizes revenue at a point in time when control of the goods or services is transferred to the customer. For product sales, control is typically deemed to have transferred in accordance with the shipping terms, either at the time of shipment from the plants or distribution centers or the time of delivery to the customers. Revenue is recognized for services upon completion o f those services. Payment terms vary by customer and the geographic location of the customer. The Company’s contracts with customers do not include significant financing components or non-cash consideration. The Company has some contracts with customers where the performance obligations are satisfied over time. Certain customer contracts provide the Company with an enforceable right to payment of the transaction price for performance completed to date and the Company uses an output method of production to measure the progress towards the completion of the performance obligation in these arrangements. The timing of revenue recognized from these products is slightly accelerated compared to revenue recognized at the time of shipment or delivery. Incremental costs of obtaining a contract with a customer and other co sts to fulfill a contract are required to be capitalized unless the Company elects to expense contract costs with periods of less than one year. The Company has elected to expense these costs of obtaining a contract as incurred when the related contract period is less than one year. The Company does not pay upfront sales commissions on contracts when the related contract period is greater than one year, thus has not capitalized any amounts as of July 31, 2021, see Note 3. Accounts Receivable, Net and Allowance for Doubtful Accounts Accounts receivable, net are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of credit losses in its existing accounts receivable. The Company determines the allowance based on utilization of a combination of aging schedules with reserve rates applied to both current and aged receivables using historical write-off experience, regional economic data and evaluation of specific customer accounts for risk of loss and changes in current or projected conditions to calculate the allowances related to accounts receivable, net. The Company reviews its allowance for doubtful accounts monthly. Account balances are reviewed on a pooled basis by reporting unit and geographic region, and are reserved when the Company determines it is probable the receivable will not be recovered. The Company reduces the receivable, and corresponding allowance when it confirms an account is uncollectible. Inventories Inventories are stated at the lower of cost and net realizable value. U.S. inventories are valued using the last-in, first-out (LIFO) method while the non-U.S. inventories are valued using the first-in, first-out (FIFO) method. Inventories valued at LIFO were approximatel y 30.4% and 27.6% of total inventories as of July 31, 2021 and 2020, respectively. For inventories valued under the LIFO method, the FIFO cost exceeded the LIFO carrying values by $40.6 million and $39.2 million as of July 31, 2021 and 2020, respectively. Results of operations for all periods presented were not materially affected b y the liquidation of LIFO inventory, see Note 4. Property, Plant and Equipment Property, plant and equipment are stated at cost. Additions, improvements or major renewals are capitalized while expenditures that do not enhance or extend the asset’s useful life are expensed as incurred. Depreciation is computed using the straight-line method. Depreciation expense was $87.1 million , $79.3 million and $73.5 million in the years ended July 31, 2021, 2020 and 2019, respectively. The estimated useful lives of property, plant and equipment are ten three equipment, see Note 5. Internal-Use Software The Company capitalizes direct costs of materials and services used in the development and purchase of internal-use software. Amounts capitalized are amortized on a straight-line basis over a period of five Cloud Computing Arrangements The Company capitalizes certain costs incurred during the application development stage of implementation of internal-use software in cloud computing arrangements. Amounts capitalized are amortized on a straight-line basis over a period of five Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations under the purchase method of accounting. Intangible assets, comprised of customer relationships, patents, trademarks and technology, are amortized on a straight-line basis over their estimated useful lives of five 20 years . Goodwill is assessed for impairment annually or if an event occurs or circumstances change that would indicate the carrying amount may be impaired. The impairment assessment for goodwill is done at a reporting unit level. Reporting units are one level below the operating segment level but can be combined when reporting units within the same operating segment have similar economic characteristics. An impairment loss would be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit, see Note 6. Recoverability of Long-Lived Assets The Company reviews its long-lived assets, including identifiable intangibles, for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying value is reduced to the fair market value. There were no imp airment charges recorded for the years ended July 31, 2021, 2020 and 2019. Income Taxes The provision for income taxes is computed based on the pretax income reported for financial statement purposes. Deferred tax assets and liabilities are recognized for the expected future tax consequences attributed to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are anticipated to reverse. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. The Company maintains a reserve for uncertain tax benefits. Benefits of tax return positions are recognized in the financial statements when the position is more likely than not to be sustained by the taxing authorities based solely on the technical merits of the position. If the recognition threshold is met, the tax benefit is measured and recognized as the largest amount of tax benefit that is greater than 50% likely to be realized, in the Company’s judgment, see Note 8. Leases The Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) (ASU 2016-02) in the first quarter of fiscal 2020. This ASU requires lessees to recognize right-of-use assets and lease liabilities for substantially all leases. The Company determines whether an arrangement that provides control over the use of an asset to the Company is a lease. The Company recognizes a lease liability and corresponding right-of-use asset on the Consolidated Balance Sheets based on the present value of future lease payments, and recognizes lease expense on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets, and are expensed on a straight-line basis over the lease term . Variable lease expense primarily includes leases with payments indexed to inflation when the index changes after lease commencement, and is immaterial. The Company has elected to separate payments fo r lease components from non-lease components for all asset classes. Lease agreements may include extension, termination or purchase options, all of which are considered in calculating the lease liability and right-of-use asset when it is reasonably certain the Company will exercise an option. The Company’s incremental borrowing rate on the commencement date is used to calculate the present value of future payments for most leases since the rate implicit in the lease is generally not readily determinable, see Note 9. Stock-Based Compensation Stock-based compensation expense is recognized using the fair value method for all awards, see Note 13. Treasury Stock Repurchased common stock is stated at cost, determined on an average cost basis, and is presented as a reduction of stockholders’ equity on the Consolidated Balance Sheets. Research and Development Expenses Research and development expenses include scientific research costs such as salaries, facility costs, testing, technical information technology and administrative expenditures as well as an allocation of corporate costs. Research and development expenses are for the application of scientific advances to the development of new and improved products and their uses. Substantially all research and development is performed in-house. Expenses are charged against earnings in the year incurred. Shipping and Handling Shipping and handling costs of $79.2 million , $68.1 million and $76.7 million are classified as a component of operating expenses in the Consolidated Statements of Earnings for the years ended July 31, 2021, 2020 and 2019, respectively. Forward Foreign Currency Exchange Contracts The Company buys materials from foreign suppliers. Those transactions can be denominated in those suppliers’ local currency. The Company also sells to customers in foreign countries. Those transactions can be denominated in those customers’ local currency. Both of these transaction types can create volatility in the Company’s financial statements. The Company uses forward currency exchange contracts to manage those exposures and fluctuations. These contracts generally mature in 12 months or less, which is consistent with the forecasts of the rel ated purchases and sales. Certain contracts are designated as cash flow hedges, whereas the remaining contracts, related to certain intercompany transactions, are not designated, see Note 15. Net Investment Hedges The Company uses fixed-to-fixed cross-currency swap agreements to hedge its exposure to adverse foreign currency exchange rate movements for its operations in Europe. This contract terminates in July 2029. The Company has elected the spot method of designating these contracts as net investment hedges, see Note 15. Interest Rate Swaps The Company uses swap agreements to hedge exposure related to interest expense and to manage its exposure to interest rate movements. The Company enters into interest rate s wap agreements designated as cash flow hedges to hedge future fixed-rate debt issuances, which effectively fix a portion of interest payments. The Company entered into and terminated agreements within the fiscal year, see Note 15. Product Warranties The Company provides for estimated warranty expense at the time of sale and accrues for specific items at the time their existence is known and the amounts are determinable. The Company estimates warranty expense using quantitative measures based on historical warranty claim experience and evaluation of specific customer warranty i ssues, see Note 17. New Accounting Standards Recently Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (ASU 2016-13). In November 2018, the FASB issued an update, ASU 2018-19, that clarifies the scope of the standard in the amendments in ASU 2016-13. This guidance introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. Financial instruments impacted include accounts receivable and other financial assets measured at amortized cost and other off-balance sheet credit exposures. The Company adopted ASU 2016-13 in the first quarter of fiscal 2021 using the modified retrospective approach. The adoption did not have a material impact on its Consolidated Financial Statements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815 Derivatives and Hedging and Topic 825, Financial Instruments (ASU 2019-04). This guidance clarifies the standards on credit losses (Topic 326), derivatives and hedging (Topic 815) and recognition and measurement of financial instruments (Topic 825). The Company adopted ASU 2019-04 in the first quarter of fiscal 2021 using the modified retrospective approach. The adoption did not have a material impact on its Consolidated Financial Statements. New Accounting Standards Not Yet Adopted The Company considers the applicability and impact of all ASU’s issued but not yet adopted. The Company assessed ASU’s not listed above and determined that they were either not applicable or were not expected to have a material impact on the Company’s financial reporting.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Jul. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions and DivestituresIn fiscal 2019, the Company acquired 91.0% of the shares of BOFA International LTD (BOFA), headquartered in the United Kingdom, for cash consideration of $101.3 million less cash acquired of $2.2 million. BOFA designs, develops and manufactures fume extraction systems across a wide range of industrial air filtration applications. The acquisition allowed the Company to accelerate its global growth in the fume collection business and added additional filtration technology to the Company’s existing product lines. In the second quarter of fiscal 2021, the Company acquired the remaining 9.0% of the shares of BOFA for $8.0 million.

Revenue

Revenue	12 Months Ended
	Jul. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company recognizes revenue on a wide range of filtration solutions sold to customers in many industries around the globe. Most of the Company’s performance obligations within customer sales contracts are for manufactured filtration systems and replacement parts. The Company also performs limited services and installation. Customer contracts may include multiple performance obligations and the transaction price is allocated to each distinct performance obligation based on its relative standalone selling price. Revenue Disaggregation Net sales, generally disaggregated by location where the customer’s order was placed, were as follows (in millions): Year Ended July 31, 2021 2020 2019 U.S. and Canada $ 1,084.2 $ 1,059.9 $ 1,192.6 Europe, Middle East and Africa (EMEA) 865.7 760.2 826.8 Asia Pacific (APAC) 649.2 553.2 597.9 Latin America (LATAM) 254.8 208.5 227.6 Total net sales $ 2,853.9 $ 2,581.8 $ 2,844.9 Contract Assets and Liabilities The satisfaction of performance obligations and the resulting recognition of revenue typically correspond with billing of the customer. In limited circumstances, the customer may be billed at a time later than when revenue is recognized, resulting in contract assets, which are reported in other current assets on the Consolidated Balance Sheets. Contract assets were $14.9 million and $11.9 million as of July 31, 2021 and 2020. In other limited circumstances, the customer may make a payment at a time earlier than when revenue is recognized and prior to the satisfaction of performance obligations, resulting in contract liabilities, which are reported in other current liabilities and other long-term liabilities on the Consolidated Balance Sheets. Contract liabilities were $12.2 million and $10.0 million as of July 31, 2021 and 2020, respectively. The Company will recognize revenue in future periods related to remaining performance obligations for certain open contracts. Generally, these contracts have terms of one year or less. The amount of revenue related to unsatisfied performance obligations in which the original duration of the contract is greater than one year, is not significant.

Inventories, Net

Inventories, Net	12 Months Ended
	Jul. 31, 2021
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net The components of inventories, net were as follows (in millions): July 31, 2021 2020 Raw materials $ 148.1 $ 109.6 Work in process 43.2 32.8 Finished products 193.2 180.3 Total inventories, net $ 384.5 $ 322.7

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net The components of property, plant and equipment, net were as follows (in millions): July 31, 2021 2020 Land $ 27.1 $ 24.9 Buildings 410.8 384.5 Machinery and equipment 972.0 880.1 Computer software 144.3 145.4 Construction in progress 40.6 102.8 Less accumulated depreciation (977.0) (906.1) Total property, plant and equipment, net $ 617.8 $ 631.6

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Intangible Assets The Company has allocated goodwill to reporting units within its Engine Products and Industrial Products segments. There were no dispositions or impairment charges recorded during the years ended July 31, 2021, 2020 and 2019. In the fourth quarter of fiscal 2020, the Company acquired the remaining interest of its joint venture in Saudi Arabia for $7.5 million, and as a result, recorded $5.4 million of goodwill. Goodwill by reportable segment was as follows (in millions): Engine Products Segment Industrial Products Segment Total Balance as of July 31, 2019 $ 84.5 $ 218.6 $ 303.1 Goodwill acquired — 5.4 5.4 Currency translation 0.3 8.0 8.3 Balance as of July 31, 2020 84.8 232.0 316.8 Goodwill acquired — — — Currency translation (0.1) 5.8 5.7 Balance as of July 31, 2021 $ 84.7 $ 237.8 $ 322.5 Intangible asset classes were as follows (in millions, except weighted average useful life): July 31, 2021 July 31, 2020 Weighted Average Useful Life (years) Gross Accumulated Gross Accumulated Customer relationships 11.7 $ 107.5 $ (56.4) $ 105.2 $ (50.0) Patents, trademarks and technology 6.8 24.3 (13.8) 23.7 (11.6) Total intangible assets, net $ 131.8 $ (70.2) $ 128.9 $ (61.6) Amortization expense relating to existing intangible assets as of July 31, 2021 was as follows (in millions): 2022 $ 7.2 2023 6.3 2024 5.9 2025 5.8 2026 5.5 Thereafter 30.9 Total amortization expense $ 61.6

Short-Term Borrowings and Long-

Short-Term Borrowings and Long-Term Debt	12 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Short-Term Borrowings	Short-Term Borrowings and Long-Term Debt Short-Term Borrowings Short-term borrowings were as follows (in millions): European Commercial Paper Program U.S. Credit Facilities Rest of the World Credit Facilities European Operations Credit Facilities Total Year Ended July 31, 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Available credit facilities $ 118.2 $ 118.4 $ 100.0 $ 190.0 $ 64.1 $ 54.6 $ 54.3 $ 55.4 $ 336.6 $ 418.4 Reductions to borrowing capacity: Outstanding borrowings — — 48.5 — — 3.8 — — 48.5 3.8 Other non-borrowing reductions — — — — 19.6 21.1 30.6 20.9 50.2 42.0 Total reductions — — 48.5 — 19.6 24.9 30.6 20.9 98.7 45.8 Remaining borrowing capacity $ 118.2 $ 118.4 $ 51.5 $ 190.0 $ 44.5 $ 29.7 $ 23.7 $ 34.5 $ 237.9 $ 372.6 Weighted average interest rate as of July 31, 2021 and 2020 N/A N/A 0.96 % N/A N/A 1.48 % N/A N/A N/A N/A Other non-borrowing reductions include financial instruments such as bank guarantees and foreign exchange instruments. Commitment fees for years ended July 31, 2021 and 2020 were not material.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt was as follows: Interest Rate Outstanding Balance Financial Instrument Fixed or Variable Amount Maturity Date July 31, 2021 July 31, 2020 July 31, 2021 July 31, 2020 Unsecured senior notes Fixed $125.0 million March 27, 2024 3.72 % 3.72 % $ 125.0 $ 125.0 Unsecured senior notes Fixed $125.0 million June 17, 2030 3.18 % 3.18 % 125.0 125.0 Unsecured term loan Variable €80.0 million October 28, 2024 0.70 % 0.70 % 95.1 94.7 Unsecured revolving credit facility Variable $500.0 million May 21, 2026 1.10 % 1.29 % 75.0 240.0 Unsecured senior notes Fixed $25.0 million April 16, 2025 2.93 % 2.93 % 25.0 25.0 Unsecured term loan Variable ¥1.0 billion May 20, 2024 0.42 % 0.41 % 9.1 9.6 Unsecured term loan Variable ¥1.0 billion July 15, 2026 0.47 % N/A 9.1 N/A Unsecured senior notes Fixed $50.0 million November 5, 2028 2.12 % N/A — N/A Unsecured senior notes Fixed $100.0 million August 5, 2031 2.50 % N/A — N/A Unsecured term loan Variable ¥600.0 million July 15, 2021 N/A 0.27 % N/A 5.7 Debt issuance costs, net (2.3) (1.9) Subtotal 461.0 623.1 Less current maturities — 5.7 Total long-term debt $ 461.0 $ 617.4 In the fourth quarter of fiscal 2021, the Company entered into a new credit agreement that maintained the borrowing availability of $500.0 million, which replaced the previous agreement. This revolving credit facility is with a group of lenders and allows for borrowings in multiple currencies. The interest rate is calculated using the appropriate benchmark rate plus the applicable rate. The borrowing availability can be reduced or the agreement terminated early at the option of the Company. The Company can request to increase the revolving credit facility by up to $250.0 million, subject to terms of the credit facility agreement, including written notification and lender acceptance, through an accordion feature. Borrowings are automatically rolled over until the credit facility maturity date, unless the agreement is terminated early or the Company is found to be in default. The total facility includes a commitment fee of 0.08% to 0.25%, depending on the Company’s leverage ratio. Certain debt agreements contain financial covenants related to interest coverage and leverage ratios, as well as other non-financial covenants. As of July 31, 2021, the Company was in compliance with all such covenants. In the fourth quarter of fiscal 2021, the Company entered into an agreement in which the Company would issue and sell two tranches of unsecured senior notes. The first tranche is a $100.0 million ten year note due 2031 at a fixed interest rate of 2.50%, with proceeds received in August 2021. The second tranche is a $50.0 million seven year note due 2028 at a fixed interest rate of 2.12%, with proceeds to be received in November 2021. The Company has long-term borrowing capacity of $417.3 million available for further borrowing under existing credit facilities as of July 31, 2021. The remaining borrowing capacity has been reduced for standby letters of credit as discussed in Note 16. Future maturities of the Company’s long-term debt as of July 31, 2021 were as follows (in millions): 2022 $ — 2023 — 2024 134.1 2025 120.1 2026 84.1 Thereafter 125.0 Total future maturities payments 463.3 Less debt issuance costs, net 2.3 Total future maturities payments, net of debt issuance costs $ 461.0

Income Taxes

Income Taxes	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of earnings before income taxes were as follows (in millions): Year Ended July 31, 2021 2020 2019 U.S. $ 114.1 $ 112.8 $ 127.4 Foreign 266.9 222.4 247.8 Total $ 381.0 $ 335.2 $ 375.2 The components of the provision for income taxes were as follows (in millions): Year Ended July 31, 2021 2020 2019 Current Federal $ 13.2 $ 9.7 $ 21.3 State 3.9 3.1 4.0 Foreign 82.9 62.7 72.5 Total current 100.0 75.5 97.8 Deferred Federal (1.9) 4.1 7.4 State (0.2) 0.2 1.4 Foreign (3.8) (1.6) 1.4 Total deferred (5.9) 2.7 10.2 Total provision for income taxes $ 94.1 $ 78.2 $ 108.0 The reconciliation of the U.S. statutory income tax rate with the effective income tax rate was as follows: Year Ended July 31, 2021 2020 2019 Statutory U.S. federal rate 21.0 % 21.0 % 21.0 % State income taxes 0.8 0.9 1.3 Foreign operations 4.4 3.5 4.7 Global Intangible Low Tax Income 0.6 0.2 1.3 Foreign Derived Intangible Income (0.7) (1.4) (1.4) Export, manufacturing and research credits (0.7) (0.7) (0.8) Change in unrecognized tax benefits 0.2 0.6 (0.8) Tax benefits on stock-based compensation (1.0) (1.2) (1.6) Impact of U.S. Tax Cuts and Jobs Act — — 5.0 Other 0.1 0.4 0.1 Effective income tax rate 24.7 % 23.3 % 28.8 % The tax effects of temporary differences that give rise to deferred tax assets and liabilities were as follows (in millions): July 31, 2021 2020 Deferred tax assets Accrued expenses $ 12.8 $ 9.9 Compensation and retirement plans 28.3 31.8 Net operating loss (NOL) and tax credit carryforwards 7.9 8.1 Inventory reserves 2.6 3.4 Operating lease assets 12.7 18.8 Other 7.7 4.2 Gross deferred tax assets 72.0 76.2 Valuation allowance (4.6) (8.1) Deferred tax assets, net of valuation allowance 67.4 68.1 Deferred tax liabilities Depreciation and amortization (57.0) (47.4) Operating lease liabilities (12.7) (18.8) Other (3.5) (1.8) Deferred tax liabilities (73.2) (68.0) Net deferred tax (liability) asset $ (5.8) $ 0.1 The activity in the NOL and tax credit valuation allowances was as follows (in millions): Year Ended July 31, 2021 2020 2019 Balance as of beginning of year $ (8.1) $ (4.4) $ (6.2) Additions charged to costs and expenses (0.8) (3.7) (0.2) Deductions from reserves 4.3 — 2.0 Balance as of end of year $ (4.6) $ (8.1) $ (4.4) As of July 31, 2021, the Company had deferred tax assets related to U.S. federal foreign tax credits of $4.7 million, state research and development credits of $2.5 million and foreign operating loss carryovers of $0.7 million. The U.S. federal tax credits will expire after 10 years. The state portion will expire after one As of July 31, 2021, the total undistributed earnings of the Company’s non-U.S. subsidiaries was $1.3 billion, of which $1.0 billion was not considered indefinitely reinvested. The Company is subject to foreign withholding taxes on a small portion of these earnings distributable in the future in the form of dividends. Thus, the Company provides for foreign withholding taxes payable upon future dividend distributions of the earnings not considered indefinitely reinvested annually. For the year ended July 31, 2021, the Company recognized a tax charge of $8.8 million related to these foreign withholding taxes. The remaining $255.0 million of earnings are considered indefinitely reinvested, and it is not practicable to estimate, within any reasonable range, the additional taxes that may be payable on the potential distribution of the portion of the undistributed earnings considered indefinitely reinvested. The transition tax related to the U.S. Tax Cuts and Jobs Act on undistributed earnings was accrued in fiscal 2018, and it is payable over an eight year period and the portion not due within 12 months as of July 31, 2021 was $60.1 million. This amount was classified in non-current income taxes payable on the Consolidated Balance Sheets. The reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows (in millions): Year Ended July 31, 2021 2020 2019 Balance as of beginning of year $ 16.9 $ 15.5 $ 18.5 Additions for tax positions of the current year 4.7 2.8 2.5 Additions for tax positions of prior years 2.7 0.2 0.7 Reductions for tax positions of prior years (1.0) (0.1) (4.9) Reductions due to lapse of applicable statute of limitations (4.6) (1.5) (1.3) Balance as of end of year $ 18.7 $ 16.9 $ 15.5 The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. During the year ended July 31, 2021, the Company recognized interest expense, net of tax benefit, of $0.4 million. As of July 31, 2021 and 2020, accrued interest and penalties on a gross basis were $1.6 million and $2.2 million, respectively. If the Company were to prevail on all unrecognized tax benefits recorded, substantially all of the unrecognized tax benefits would benefit the effective tax rate. With an average statute of limitations of five years, up to $4.9 million of the unrecognized tax benefits could potentially expire in the next 12 months, unless extended by an audit. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The U.S. Internal Revenue Service has completed examinations of the Company’s U.S. federal income tax returns through 2017. With few exceptions, the Company is no longer subject to state and foreign income tax examinations by tax authorities for years before 2016. The Company believes that it is remote that any adjustment necessary to the reserve for income taxes over the next 12 months will be material. However, it is possible t he current and future res olution of audits or disputes may result in a material change to the reserve for income taxes, although the quantification of such potential adjustments cannot be made at this time.

Leases

Leases	12 Months Ended
	Jul. 31, 2021
Leases [Abstract]
Leases	Leases The Company enters into operating leases primarily for office, production and warehouse facilities, production and non-production equipment, automobiles and computer equipment. The Company’s operating lease costs were as follows (in millions): Year Ended July 31, 2021 2020 Operating lease cost $ 25.6 $ 30.1 Short-term lease cost 2.4 2.4 Total lease costs $ 28.0 $ 32.5 Supplemental balance sheet information for the Company was as follows (in millions): July 31, 2021 2020 Right-of-use lease assets $ 51.2 $ 73.7 Current lease liabilities $ 18.1 $ 25.7 Long-term lease liabilities $ 33.7 $ 48.1 Additional information related to operating leases was as follows: July 31, 2021 2020 Weighted average remaining lease term (years) 4.6 4.8 Weighted average discount rate 3.26 % 3.50 % Remaining payments for operating leases having initial terms of more than one year as of as of July 31, 2021 were as follows (in millions): 2022 $ 18.9 2023 12.3 2024 7.3 2025 4.3 2026 3.8 Thereafter 7.7 Total future lease payments 54.3 Less imputed interest 3.1 Present value of future lease payments $ 51.2

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jul. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares. Diluted net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options and other stock incentive plans. Basic and diluted net earnings per share calculations were as follows (in millions, except per share amounts): Year Ended July 31, 2021 2020 2019 Net earnings $ 286.9 $ 257.0 $ 267.2 Weighted average common shares outstanding Weighted average common shares – basic 126.4 126.9 128.3 Dilutive impact of stock-based awards 1.8 1.4 2.0 Weighted average common shares – diluted 128.2 128.3 130.3 Net earnings per share – basic $ 2.27 $ 2.03 $ 2.08 Net earnings per share – diluted $ 2.24 $ 2.00 $ 2.05 Stock options excluded from net earnings per share calculation 0.8 1.7 0.8

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jul. 31, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchases The Company’s Board of Directors has authorized the repurchase of up to 13.0 million shares of common stock under the Company’s stock repurchase plan. This repurchase authorization is effective until terminated by the Board of Directors . D uring the year ended July 31, 2021, the Company repurchased 2.4 million shares for $142.2 million. During the year ended July 31, 2020, the Company repurchased 2.0 million shares for $94.3 million. As of July 31, 2021, the Company had remaining authorization to repurchase 8.3 million shares under this plan. Treasury stock share activity was as follows: Year Ended July 31, 2021 2020 Balance as of beginning of year 25,304,515 24,324,483 Stock repurchases 2,416,741 2,030,545 Net issuance upon exercise of stock options (1,004,298) (833,168) Issuance under compensation plans (82,998) (198,120) Other activity (13,400) (19,225) Balance as of end of year 26,620,560 25,304,515 Dividends Paid and Declared Dividends paid were 85.0 cents and 84.0 cents per common share for the years ended July 31, 2021 and 2020 , respectively. On July 30, 2021, the Company’s Board of Directors declared a cash dividend in the amount of 22.0 cents per common share, payable August 31, 2021, to stockholders of record as of August 16, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Jul. 31, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the years ended July 31, 2021 and 2020 were as follows (in millions): Foreign Pension Derivative Total Balance as of July 31, 2020, net of tax $ (74.0) $ (110.0) $ — $ (184.0) Other comprehensive income before reclassifications and tax 30.0 36.8 (1) 1.0 67.8 Tax expense — (9.3) (0.2) (9.5) Other comprehensive income before reclassifications, net of tax 30.0 27.5 0.8 58.3 Reclassifications, before tax — 10.0 (2) (0.2) 9.8 Tax expense — (2.2) (0.1) (2.3) Reclassifications, net of tax — 7.8 (0.3) (3) 7.5 Other comprehensive income, net of tax 30.0 35.3 0.5 65.8 Balance as of July 31, 2021, net of tax $ (44.0) $ (74.7) $ 0.5 $ (118.2) Balance as of July 31, 2019, net of tax $ (92.7) $ (99.0) $ (1.2) $ (192.9) Other comprehensive income (loss) before reclassifications and tax 18.7 (16.8) (1) 0.6 2.5 Tax benefit — 4.1 — 4.1 Other comprehensive income (loss) before reclassifications, net of tax 18.7 (12.7) 0.6 6.6 Reclassifications, before tax — 2.5 (2) 1.0 3.5 Tax expense — (0.8) (0.4) (1.2) Reclassifications, net of tax — 1.7 0.6 (3) 2.3 Other comprehensive income (loss), net of tax 18.7 (11.0) 1.2 8.9 Balance as of July 31, 2020, net of tax $ (74.0) $ (110.0) $ — $ (184.0) (1) In fiscal 2021, pension curtailment and settlement accounting was triggered and the Company recorded charges of $2.8 million. Remeasurements of the Company’s pension obligations resulted in a decrease to other comprehensive loss of $36.8 million, see Note 14. In fiscal 2020, pension settlement accounting was triggered and the Company recorded a pension settlement charge of $3.1 million. Remeasurements of the Company’s pension obligations resulted in an increase to other comprehensive loss of $16.8 million, see Note 14. (2) Includes net amortization of prior service costs and actuarial losses included in net periodic benefit costs that were reclassified from accumulated other comprehensive loss on the Consolidated Balance Sheets to cost of sales and operating expenses in the Consolidated Statements of Earnings, see Note 14. (3) Relates to designated forward foreign currency exchange contracts that were reclassified from accumulated other comprehensive loss to other income, net in the Consolidated Statements of Earnings, see Note 15.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Jul. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based CompensationThe Company recognizes stock-based compensation expense for all stock-based awards based on the grant date fair value of the award. Stock-based awards consist primarily of non-qualified stock options, performance-based awards, restricted stock awards and restricted stock units. Grants related to restricted stock awards and restricted stock units are immaterial. Stock Options The exercise price of options granted is equal to the market pri ce of the Company’s common stock at the date of the grant. Options are generally exercisable for up to 10 years from the date of grant and vest in equal increments over three years. The Company issues treasury shares upon option exercise. For the years ended July 31, 2021, 2020 and 2019, the Company recorded pretax stock-based compensation expense associated with options of $10.8 million, $10.4 million and $9.8 million, respectively. Fair value is calculated using the Black-Scholes option pricing model. The weighted average fair value for options granted during the years ended July 31, 2021, 2020 and 2019 was $10.23, $10.93 and $12.27 per share, respectively. The fair value of these awards was determined using following inputs: Year Ended July 31, 2021 2020 2019 Risk-free interest rate 0.5% - 1.3% 0.8% - 1.9% 2.1% - 3.1% Expected volatility 25.4% - 26.6% 21.0% - 23.7% 16.0% - 21.5% Expected dividend yield 1.6 % 1.6 % 1.6 % Expected life: Director and officer grants 8 years 8 years 8 years Non-officer grants 7 years 7 years 7 years Option activity was as follows: Options Weighted Balance as of July 31, 2018 6,785,812 $ 34.93 Granted 908,925 58.02 Exercised (1,103,054) 25.07 Canceled/forfeited (60,433) 50.57 Balance as of July 31, 2019 6,531,250 39.66 Granted 944,094 51.94 Exercised (845,086) 30.35 Canceled/forfeited (96,279) 52.72 Balance as of July 31, 2020 6,533,979 42.44 Granted 1,004,631 46.61 Exercised (1,030,938) 36.00 Canceled/forfeited (62,929) 49.95 Balance as of July 31, 2021 6,444,743 $ 44.05 The total intrinsic value of options exercised during the years ended July 31, 2021, 2020 and 2019 was $22.6 million, $18.3 million and $30.3 million, respectively. The number of shares authorized as of July 31, 2021 for outstanding options and future grants was 10,361,676. Unvested options forfeited are recorded in operating expenses in the Consolidated Statements of Earnings in the period in which they occur. Outstanding and exercisable stock options as of July 31, 2021 were as follows: Range of Exercise Prices Number Weighted Weighted Number Weighted Weighted $28.00 to $32.49 701,597 4.4 $ 28.22 701,597 4.4 $ 28.22 $32.50 to $37.49 564,098 1.5 34.37 564,098 1.5 34.37 $37.50 to $42.49 1,133,867 3.2 40.29 1,133,867 3.2 40.29 $42.50 to $47.49 2,294,336 7.0 44.80 1,354,933 5.5 43.97 $47.50 and above 1,750,845 7.7 54.96 845,358 7.4 55.82 6,444,743 5.7 $ 44.05 4,599,853 4.6 $ 41.66 As of July 31, 2021, the aggregate intrinsic value of stock options outstanding and exercisable was $142.7 million and $112.8 million, respectively. For the year ended July 31, 2021, activity for non-vested stock options that contain vesting provisions was as follows: Options Weighted Balance as of beginning of year 1,744,931 $ 11.18 Granted 1,004,631 10.23 Vested (849,496) 10.94 Canceled (55,176) 10.65 Balance as of end of year 1,844,890 $ 10.79 As of July 31, 2021, there was $6.1 million of total unrecognized compensation expense related to non-vested stock options, which is expected to be recognized over the remaining vesting period during fiscal 2022, 2023 and 2024. Performance-Based Awards Performance-based awards are payable in common stock and are based on a formula that measures Company performance over a three year period. These awards are settled after three years with payouts ranging from zero to 200% of the target award value depending on achievement. Performance-based award expense under these plans totaled $1.9 million, $3.4 million and $3.8 million in the years ended July 31, 2021, 2020 and 2019, respectively. The weighted average grant date fair value related to the Company’s performance-based awards was as follows: Year Ended July 31, 2021 2020 2019 Weighted average grant date fair value $ 46.06 $ 51.61 $ 58.35 Performance-based award for non-vested activity was as follows: Performance Shares Weighted Balance as of beginning of year 198,200 $ 54.93 Granted 106,100 46.06 Vested (95,133) 58.35 Canceled (8,600) 51.56 Balance as of end of year 200,567 $ 48.76 As of July 31, 2021, there was $6.6 million of total unrecognized compensation expense related to non-vested performance shares, which is expected to be recognized over the remaining vesting period during fiscal 2022, 2023 and 2024.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Jul. 31, 2021
Retirement Benefits, Description [Abstract]
Employee Benefit Plans	Employee Benefit Plans Defined Benefit Pension Plans The Company has defined benefit pension plans for many of its hourly and salaried employees. There are two types of U.S. plans. The Hourly Pension Plan is primarily for union production employees. The Company no longer allows entrants into the Hourly Pension Plan and certain participating employees continue to accrue Company contribution credits. The Salaried Pension Plan is for some salaried and non-union production employees. The Company no longer allows entrants into the Salaried Pension Plan and the participating employees no longer accrue Company contribution credits. Non-U.S. defined benefit pension plans consist of plans in 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 benefit cost other than the service cost component are included in other income, net in the Consolidated Statements of Earnings. Net periodic pension costs and amounts recognized in other comprehensive (loss) income for the Company’s pension plans were as follows (in millions): Year Ended July 31, 2021 2020 2019 Net periodic benefit cost Service cost $ 7.5 $ 9.5 $ 6.0 Interest cost 10.2 13.5 16.4 Expected return on assets (23.7) (26.1) (26.5) Prior service cost and transition amortization 0.3 0.7 0.6 Actuarial loss amortization 8.2 6.5 4.4 Settlement charge 2.0 3.1 2.9 Curtailment charge 0.8 — — Net periodic benefit costs 5.3 7.2 3.8 Other changes recognized in other comprehensive income (loss): Net actuarial gain (loss) 35.9 (25.2) (29.0) Amortization of asset obligations — 0.2 0.2 Amortization of prior service cost 1.2 0.6 0.4 Amortization of net actuarial loss 10.2 9.5 7.3 Total recognized in other comprehensive income (loss) 47.3 (14.9) (21.1) Total recognized in net periodic benefit costs and other comprehensive income (loss) $ 42.0 $ (22.1) $ (24.9) 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, 2021 and 2020 were as follows (in millions): Year Ended July 31, 2021 2020 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 585.6 $ 520.4 Service cost 7.5 9.5 Interest cost 10.2 13.5 Participant contributions 0.8 0.8 Actuarial (gain) loss (5.7) 55.2 Currency exchange rates 8.4 12.8 Settlements paid (10.7) (10.7) Benefits paid (16.2) (15.9) Projected benefit obligation, end of year 579.9 585.6 Change in fair value of plan assets Fair value of plan assets, beginning of year 550.6 502.2 Actual return on plan assets 55.6 59.1 Company contributions 3.1 3.0 Participant contributions 0.8 0.8 Currency exchange rates 8.1 12.1 Settlements paid (10.7) (10.7) Benefits paid (16.2) (15.9) Fair value of plan assets, end of year 591.3 550.6 Funded status of plans, end of year $ 11.4 $ (35.0) Amounts recognized on the Consolidated Balance Sheets Other long-term assets $ 37.5 $ 6.2 Other current liabilities (1.3) (1.5) Other long-term liabilities (24.8) (39.7) Net recognized asset (liability) $ 11.4 $ (35.0) The net overfunded status of $11.4 million and underfunded status of $35.0 million as of July 31, 2021 and 2020, respectively, is recognized on the Consolidated Balance Sheets. The pension-related accumulated other comprehensive loss as of July 31, 2021 and 2020 (prior to the consideration of income taxes) was $119.1 million and $166.1 million, respectively, and consisted primarily of unrecognized actuarial losses. The loss expected to be recognized in net periodic pension expense during the year ending July 31, 2022 is $7.4 million. The accumulated benefit obligation for all defined benefit pension plans was $556.5 million and $561.9 million as of July 31, 2021 and 2020, respectively. The projected benefit obligation and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets were $83.6 million and $57.4 million, respectively, as of July 31, 2021, and $220.4 million and $179.3 million, respectively, as of July 31, 2020. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were $13.8 million, $13.8 million and $3.1 million, respectively, as of July 31, 2021 and $158.0 million, $156.2 million and $133.1 million, respectively, as of July 31, 2020. Assumptions The significant assumptions used in determining the actuarial present value of the projected benefit obligation were as follows: Year Ended July 31, 2021 2020 All U.S. plans Discount rate 2.55 % 2.37 % Expected rate of return on plan assets 5.33 % 6.08 % Rate of compensation increase N/A N/A Non-U.S. plans Discount rate 1.55 % 1.48 % Expected rate of return on plan assets 3.13 % 3.78 % Rate of compensation increase 2.86 % 2.88 % The weighted average discount rates, expected returns on plan assets and rates of increase in future compensation levels used to determine the net periodic benefit cost were as follows: Year Ended July 31, 2021 2020 2019 All U.S. plans Discount rate 2.37 % 3.55 % 4.43 % Expected rate of return on plan assets 5.33 % 6.08 % 6.25 % Rate of compensation increase N/A N/A N/A Non-U.S. plans Discount rate 1.52 % 1.85 % 2.43 % Expected rate of return on plan assets 3.13 % 3.78 % 4.08 % Rate of compensation increase 2.86 % 2.72 % 2.69 % Discount Rates The Company’s objective in selecting a discount rate is to select the best estimate of the rate at which the benefit obligations could be effectively settled on the measurement date, taking into account the nature and duration of the benefit obligations of the plan. In making this best estimate, the Company looks at the rates of return on high-quality, fixed-income investm ents currently available, and expected to be available, during the period to maturity of the benefits. This process includes assessing the universe of bonds available on the measurement date with a quality rating of Aa or better. Expected Long-Term Rate of Return on Plan Assets The Company considers the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation to develop the assumption for each of its U.S. pension plans. The assumption for non-U.S. pension plans reflects the investment allocation and expected total portfolio returns specific to each plan and country. The expected long-term rate of return on assets is an asset-based weighted average. Mortality Rates The Company’s actuary uses the Pri-2012 mortality table issued by the Society of Actuaries in 2019, and the Scale MMP-2019 mortality improvement projection scale for its U.S. pension plans. These assumptions were used for determining the benefit obligations as of July 31, 2021 and for developing the annual expense for the fiscal year ending July 31, 2022. For non-U.S. pension plans, the Company follows the local actuary’s recommendation. Service and Interest Costs The Company uses a full yield curve approach to estimate service and interest costs by applying specific spot rates along the yield curve used to determine the benefit obligation of relevant projected cash outflows. This method provides a precise measurement of service and interest costs by aligning the timing of the plans’ liability cash flows to the corresponding spot rate on the yield curve. Investments Global Equity Securities Global equity securities consist primarily of publicly traded U.S. and non-U.S. equities, mutual funds, collective investment trusts, diversified growth investment funds and private equity. Publicly traded equities and index funds are valued at the closing price reported in the active market in which the individual securities are traded. Private equity consists of interests in partnerships that invest in U.S. and non-U.S. equity and debt securities. This may include a diversified mix of partnership interests including buyouts, restructured or distressed debt, growth equity, mezzanine or subordinated debt, real estate, special situation partnerships and venture capital investments. Interests in these funds are valued at the net asset value (NAV) per share. Fixed Income Securities Fixed income securities consist primarily of investment and non-investment grade debt securities, debt securities issued by the U.S. Treasury, multi-asset credit investment funds and exchange-traded funds. Government, corporate and other bonds and notes, interest rate and inflation swaps, physical inflation-linked and nominal gilts, synthetic gilts, money market instruments and cash are valued at the closing price reported if they are traded on an active market or if they are traded at yields currently available on comparable securities of issuers with similar credit ratings. Fixed income securities also include smaller allocations to alternative investments, private equity and alternative fixed income investments. Alternative investments consist primarily of private placement funds, private equity investments and alternative fixed income-like investments. Private equity consists of interests in partnerships that invest in U.S. and non-U.S. equity and debt securities. This may include a diversified mix of partnership interests including buyouts, restructured/distressed debt, growth equity, mezzanine or subordinated debt, real estate, special situation partnerships and venture capital investments. Alternative fixed income securities consist primarily of private partnership interests in hedge funds. Interests in these funds are valued at the net asset value NAV per share. The NAV is determined by the administrator or custodian of the fund based on the fair value of the underlying assets owned by the fund less its liabilities. Insurance Contracts Insurance contracts are individual contracts whereby an insurance company offers a guaranteed minimum interest return. The Company does not have any influence on the investment decisions made by the insurer. European insurers, in general, are strictly regulated by an external control mechanism and have to invest for their guaranteed interest products within certain boundaries. Typically they have a strategic asset allocation with 80% to 90% fixed income products and 10% to 20% equity type products, including real estate. Real Assets Funds Real assets funds consist of interests in partnerships that invest in private real estate and commodities investments. Interests in partnerships are valued using the NAV. Fair Value of Plan Assets 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 1 Level 2 Level 3 Total Balances of July 31, 2021 Cash and cash equivalents $ 2.2 $ 1.0 $ — $ 3.2 Global equity securities 184.1 — — 184.1 Fixed income securities 134.4 158.4 — 292.8 Insurance contracts — — 37.7 37.7 Total investments in the fair value hierarchy $ 320.7 $ 159.4 $ 37.7 517.8 Investments using NAV per share as practical expedient 73.5 Total assets $ 591.3 Balances as of July 31, 2020 Cash and cash equivalents $ 6.8 $ 3.3 $ — $ 10.1 Global equity securities 170.9 — — 170.9 Fixed income securities 111.4 110.8 — 222.2 Investment funds — 41.7 — 41.7 Insurance contracts — — 35.4 35.4 Total investments in the fair value hierarchy $ 289.1 $ 155.8 $ 35.4 480.3 Investments using NAV per share as practical expedient 70.3 Total assets $ 550.6 Certain investments, valued at NAV, had the following unfunded commitments and/or redemption restrictions (in millions): July 31, 2021 July 31, 2020 NAV Unfunded Commitments NAV Unfunded Commitments Redemption Frequency (If Currently Eligible) Redemption Notice (Days) Global equity securities $ 50.7 $ 1.8 $ 49.5 $ 1.8 Monthly, Weekly 10 - 90 Fixed income securities 20.4 — — — Quarterly, Semi-Annually 60 - 90 Private equity and other funds — — 17.8 — Quarterly, Semi-Annually 60 - 90 Real asset funds 2.4 4.3 3.0 4.3 Not eligible N/A Total U.S. assets $ 73.5 $ 6.1 $ 70.3 $ 6.1 The changes in the fair values of the pension plans’ Level 3 assets were as follows (in millions): Ending balance as of July 31, 2018 $ 28.6 Unrealized gains 3.5 Foreign currency exchange (1.5) Purchases 0.5 Sales (0.3) Ending balance as of July 31, 2019 30.8 Unrealized gains 4.1 Foreign currency exchange 2.1 Purchases 0.5 Sales (2.1) Ending balance as of July 31, 2020 35.4 Unrealized gains 3.6 Foreign currency exchange 0.1 Purchases 0.6 Sales (2.0) Ending balance as of July 31, 2021 $ 37.7 Investment Policies and Strategies For U.S. pension plans, t he Company uses a total return investment approach to achieve a long-term return on plan assets, with what the Company believes to be a prudent level of risk for the purpose of meeting its retirement income commitments to employees. The U.S. pension plans’ investments are diversified to assist in managing risk. During the year ended July 31, 2021, the Company’s asset allocation were as follows: Salaried Pension Plan Hourly Pension Plan Global equities 33 % 29 % Fixed income 65 70 Real assets 1 — Cash and cash equivalents 1 1 Total 100 % 100 % The target allocation guidelines are determined in conjunction with the Company’s investment consultant and through the use of modeling the risk/return trade-offs among asset classes utilizing assumptions about expected annual return, expected volatility/standard deviation of returns and expected correlations with other asset classes. For non-U.S. plans, the general investment objectives are to maintain a suitably diversified portfolio of secure assets with appropriate liquidity that will generate income and capital growth to meet, together with any new contributions from members and the Company, the cost of current and future benefits. Investment policy and performance is measured and monitored on an ongoing basis. Estimated Contributions and Future Payments The Company’s general funding policy is to make at least the minimum required contributions as required by applicable regulations, plus any additional amounts that it determines to be appropriate. The Company made contributions of $6.4 million to its pension plans during the year ended July 31, 2021. Future required pension plan contributions may change significantly depending on the actual rate of return on plan assets, discount rates and regulatory requirements. Estimated future benefit required payments for the Company’s pension plans as of July 31, 2021 were as follows (in millions): 2022 $ 30.7 2023 $ 26.1 2024 $ 28.1 2025 $ 30.1 2026 $ 28.3 2027-2031 $ 145.4 Retirement Savings and Employee Stock Ownership Plan (ESOP) The Company provides a contributory employee savings plan to U.S. employees that permits participants to make contributions by salary reduction pursuant to section 401(k) of the Internal Revenue Code. For eligible employees, employee contributions of up to 50% of compensation are matched at a rate equaling 100% of the first three percent contributed and 50% of the next two percent contributed. In addition, the Company contributes three percent of compensation annually for eligible employees. Total contribution expense for this plan was $25.2 million, $22.0 million and $23.5 million for the years ended July 31, 2021, 2020 and 2019, respectively. This plan also includes shares from an ESOP. As of July 31, 2021, all shares of the ESOP have been allocated to participants. Total ESOP shares are considered to be shares outstanding for diluted earnings per share calculations. Deferred Compensation and Other Benefit Plans The Company provides various deferred compensation and other benefit plans to certain executives. The deferred compensation plan allows these employees to defer the receipt of all or a portion of their cash bonus and other stock-related compensation and up to 75% of their salary to future periods. Other benefit plans are provided to supplement the benefits for a select group of highly compensated individuals that are reduced because of compensation limitations set by the Internal Revenue Code. The Company has recorded a liability of $3.3 million and $4.1 million as of July 31, 2021 and 2020, respectively, related primarily to its deferred compensation plans.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jul. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements of financial instruments are reported in one of three levels based on the lowest level of significant input used. For Level 1, inputs to the fair value measurement are quoted prices in active markets for identical assets or liabilities. For Level 2, inputs to the fair value measurement include quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. For Level 3, inputs to the fair value measurement are unobservable inputs or are based on valuation techniques. Short-Term Financial Instruments As of July 31, 2021 and 2020, the carrying va lues of cash and cash equivalents, ac counts receivable, short-term borrowings and accounts payable approximate fair value because of the short-term nature of these instrume nts, and a re classified as Level 1 in the fair value hierarchy. Long-Term Debt As of July 31, 2021, the estimated fair values of fixed interest rate long-term debt were $297.4 million compared to the carrying values of $275.0 million. As of July 31, 2020, the estimated fair values of fixed interest rate long-term debt were $297.3 million compared to the carrying values of $275.0 million. The fair values are estimated by discounting the projected cash flows using the rates at which similar amounts of debt could currently be borrowed. The carrying values of total variable interest rate long-term debt were $188.3 million and $350.0 million as of July 31, 2021 and 2020, respectively, and approximate their fair values. Long-term debt is classified as Level 2 in the fair value hierarchy. Equity Method Investments The Company holds equity method investments, which are included in other long-term assets on the accompanying Consolidated Balance Sheets. The aggregate carrying amount of these investments was $24.2 million and $21.7 million as of July 31, 2021 and 2020, respectively. These equity method investments are measured at fair value on a non-recurring basis. The fair value of the Company’s equity method investments has not been estimated as there have been no identified events or changes in circumstance that would have had an adverse impact on the value of these investments. In the event that these investments are required to be measured, they would fall within Level 3 of the fair value hierarchy due to the use of significant unobservable inputs to determine fair value, as the investments are in privately-held entities. Derivative Fair Value Measurements The Company enters into derivative instrument agreements, including forward foreign currency exchange contracts, net investment hedges and interest rate swaps, to manage risk in connection with changes in foreign currency and interest rates. The Company only enters into derivative instrument agreements with counterparties who have highly rated credit. The Company does not enter into derivative instrument agreements for trading or speculative purposes. The fair values of the Company’s forward foreign currency exchange contracts, net investment hedges and interest rate swaps reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The fair values are based on inputs other than quoted prices that are observable for the asset or liability and are determined by standard calculations and models that use readily observable market parameters. These inputs include foreign currency exchange rates and interest rates. Industry standard data providers are the primary source for forward and spot rate information for both interest rates and foreign currency exchange rates. The fair values of the Company’s forward foreign currency exchange contracts, net investment hedges and interest rate swaps are classified as Level 2 in the fair value hierarchy. Forward Foreign Currency Exchange Contracts The Company buys materials from foreign suppliers. Those transactions can be denominated in those suppliers’ local currency. The Company also sells to customers in foreign countries. Those transactions can be denominated in those customers’ local currency. Both of these transaction types can create volatility in the Company’s financial statements. The Company uses forward currency exchange contracts to manage those exposures and fluctuations. These contracts generally mature in 12 months or less, which is consistent with the forecasts of the rel ated purchases and sales. Certain contracts are designated as cash flow hedges, whereas the remaining contracts, most of which are related to certain intercompany transactions, are not designated. Net Investment Hedges The Company uses fixed-to-fixed cross-currency swap agreements to hedge its exposure to adverse foreign currency exchange rate movements for its operations in Europe. The Company has elected the spot method of designating these contracts as net investment hedges. Interest Rate Swaps The Company uses swap agreements to hedge exposure related to interest expense and to manage its exposure to interest rate movements. In fiscal 2021, the Company entered into interest rate swap agreements designated as cash flow hedges with aggregate notional amounts of $40.0 million and $25.0 million, respectively, he dging future fixed-rate debt issuances, which effectively fixed a portion of interest payments based on the ten year treasury rate s. Both instruments terminated in the fourth quarter of fiscal 2021, generating a realized gain of $2.6 million, and were subsequently recorded in accumulated other comprehensive loss on the Consolidated Balance Sheet and will be amortized to interest expense over the life of the related debt issued in August 2021. Fair Value of Derivatives Contracts The fair value of the Company’s derivative contracts, which were recorded on the Consolidated Balance Sheets was as follows (in millions): Fair Values Significant Other Observable Inputs Total Notional Amounts Assets Liabilities July 31, July 31, July 31, 2021 2020 2021 2020 2021 2020 Designated as hedging instruments Forward foreign currency exchange contracts (1) $ 117.2 $ 68.1 $ 1.0 $ 0.1 $ 1.2 $ 0.6 Net investment hedge 55.8 55.8 1.1 1.2 2.0 — Total designated 173.0 123.9 2.1 1.3 3.2 0.6 Not designated as hedging instruments Forward foreign currency exchange contracts (2) 154.2 169.1 0.5 2.0 0.4 0.8 Total not designated 154.2 169.1 0.5 2.0 0.4 0.8 Total $ 327.2 $ 293.0 $ 2.6 $ 3.3 $ 3.6 $ 1.4 (1) The total notional amount of $117.2 million as of July 31, 2021 includes purchases of $73.0 million and sales of $44.2 million, or net purchases of $28.8 million. The total notional amount of $68.1 million as of July 31, 2020 includes purchases of $45.2 million and sales of $22.9 million, or net purchases of $22.3 million. (2) The total notional amount of $154.2 million as of July 31, 2021 includes purchases of $76.1 million and sales of $78.1 million, or net sales of $2.0 million. The total notional amount of $169.1 million as of July 31, 2020 includes purchases of $82.9 million and sales of $86.2 million, or net sales of $3.2 million. Forward foreign currency exchange contract assets were recorded in other current assets and in other long-term assets on the Consolidated Balance Sheets. Forward foreign currency exchange contract liabilities were recorded in other current liabilities on the Consolidated Balance Sheets. The net investment hedge was recorded in other current assets and in other long-term liabilities on the Consolidated Balance Sheets. Changes in the fair value of the Company’s designated hedges are reporte d in accumulated other comprehensive loss on the Consolidated Balance Sheets until the related transaction occurs. Designated hedges are recognized as a component of sales, cost of sales, operating expenses and other income, net in the Consolidated Statements of Earnings upon occurrence of the related hedged transaction. H edges which are not designated are recognized in other income, net in the Consolidated Statements of Earnings timed to coincide with the related hedged transactions. Changes in the fair value of these hedges are, likewise, recognized in other income, net in the Consolidated Statements of Earnings. The Company classifies cash flows from derivatives designated in a qualifying cash flow hedging relationship in the same category as the cash flows from the hedged items. Cash flows from these derivative transactions are recorded in operating activities in the Consolidated Statements of Cash Flows. Amounts related to forward foreign currency exchange contracts are expected to be reclassified into earnings during the next 12 months based upon the timing of inventory purchases and sales. Amounts related to excluded components associated with the net investment hedge are expected to be reclassified into earnings through their termination in July 2029. See Note 12 for additional information on accumulated other comprehensive loss. Credit Risk Related Contingent Features Contract provisions may require the posting of collateral or settlement of the contracts for various reasons, including if the Company’s credit ratings are downgraded below its investment grade credit rating by any of the major credit agencies or for cross default contractual provisions if there is a failure under other financing arrangements related to payment terms or covenants. As of July 31, 2021 and 2020, no collateral was posted. Counterparty Credit Risk There is risk that counterparties to derivative contracts will fail to meet their contractual obligations. In order to mitigate counterparty credit risk, the Company only enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors.

Guarantees

Guarantees	12 Months Ended
	Jul. 31, 2021
Product Warranties Disclosures [Abstract]
Guarantees	Guarantees Advanced Filtration Systems Inc. (AFSI) is an unconsolidated joint venture established by the Company and Caterpillar Inc. (Caterpillar) in 1986. AFSI designs and manufactures high-efficiency fluid filters used in Caterpillar’s machinery worldwide. The Company and Caterpillar equally own the shares of AFSI, and guaran tee certain debt and banking services, including credit and debit cards, merchant processing and treasury management services, of the joint venture. The Company accounts for AFSI as an equity method investment. The outstanding debt relating to AFSI and the contingent liability for standby letters of credit relating to the Company was as follows (in millions): July 31, 2021 2020 Outstanding debt of AFSI (the Company guarantees half) $ 37.8 $ 40.0 Contingent liability for standby letters of credit issued under the Company’s revolving credit facility $ 7.7 $ 7.5 Amounts drawn for letters of credit under the Company’s revolving credit facility $ — $ — The letters of credit guarantee payment to third parties in the event the Company is in breach of contract terms as detailed in each letter of credit. Items relating to AFSI, which are recorded in other income, net in the Consolidated Statements of Earnings were as follows (in millions): Year Ended July 31, 2021 2020 2019 Investment earnings from AFSI $ 1.8 $ 2.2 $ (0.3) Royalty income from AFSI $ 6.9 $ 6.8 $ 6.5

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company records provisions when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Claims and litigation are reviewed quarterly and provisions are taken or adjusted to reflect the status of a particular matter. The Company believes the estimated liability in its Consolidated Financial Statements for claims or litigation is adequate and appropriate for the probable and estimable outcomes. Liabilities recorded were not material to the Company’s financial position, results of operations or liquidity. The Company believes it is remote that the settlement of any of the currently identified claims or litigation will be materially in excess of what is accrued. Warranty Reserves The Company estimates warranty expense on certain products at the time of sale using quantitative measures based on historical warranty claim experience and evaluation of specific customer warranty i ssues . There were no individually or collectively material specific warranty matters accrued for, or significant settlements made, during the years ended July 31, 2021 and 2020. The Company’s accrued warranty reserves were $6.1 million and $9.5 million as of July 31, 2021 and 2020, respectively.

Segment Reporting

Segment Reporting	12 Months Ended
	Jul. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Segment Reporting	Segment Reporting The Company’s reportable segments are Engine Products and Industrial Pr oducts. The Company determines its operating segments consistent with the manner in which it manages its operations and evaluates performance for internal review and decision-making. Corporate and unallocated includes corporate expenses determin ed to be non-allocable to the segments, such as interest expense, certain incentive compensation as well as restructuring charges. The Engine Products segment sells to OEMs in the construction, mining, agriculture, aerospace, defense and truck end markets and to independent distributors, OEM dealer networks, private label accounts and large equipment fleets. Products include replacement filters for both air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications and exhaust and emissions systems and sensors, indicators and monitoring systems. The Industrial Products segment sells to various dealers, distributors, OEMs of gas-fired turbines and OEMs and end users requiring clean air filtration solutions and replacement filters. Products include dust, fume and mist collectors, compressed air purification systems, air filtration systems for gas turbines, polytetrafluoroethylene membrane-based products and specialized air and gas filtration systems for applications including hard disk drives and semi-conductor manufacturing and sensors, indicators and monitoring systems. The Company has manufacturing facilities that serve both of its reportable segments. As such, asset and capital expenditure information by reportable segment has not been provided, since the Company does not produce or utilize such information internally. In addition, although depreciation and amortization expense is a component of each reportable segment’s operating results, it is not discretely identifiable. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and sharing of assets. Therefore, the Company does not represent that these segments, if operated independently, would report the earnings before income taxes and other financial information shown below. Segment details by product group were as follows (in millions): Engine Industrial Corporate and Total Year ended July 31, 2021 Net sales $ 1,957.7 $ 896.2 $ — $ 2,853.9 Equity earnings in unconsolidated affiliates $ 4.2 $ — $ — $ 4.2 Earnings (loss) before income taxes $ 289.0 $ 133.3 $ (41.3) $ 381.0 Equity investments in unconsolidated affiliates $ 24.2 $ — $ — $ 24.2 Year ended July 31, 2020 Net sales $ 1,727.5 $ 854.3 $ — $ 2,581.8 Equity earnings in unconsolidated affiliates $ 4.7 $ 0.5 $ — $ 5.2 Earnings (loss) before income taxes $ 229.3 $ 124.9 $ (19.0) $ 335.2 Equity investments in unconsolidated affiliates $ 21.7 $ — $ — $ 21.7 Year ended July 31, 2019 Net sales $ 1,926.0 $ 918.9 $ — $ 2,844.9 Equity earnings in unconsolidated affiliates $ 2.1 $ 0.1 $ — $ 2.2 Earnings (loss) before income taxes $ 254.6 $ 140.1 $ (19.5) $ 375.2 Equity investments in unconsolidated affiliates $ 19.0 $ 4.0 $ — $ 23.0 Net sales by product group were as follows (in millions): Year Ended July 31, 2021 2020 2019 Engine Products segment Off-Road $ 328.1 $ 256.5 $ 315.1 On-Road 138.8 124.4 179.8 Aftermarket 1,394.6 1,228.9 1,315.3 Aerospace and Defense 96.2 117.7 115.8 Total Engine Products segment 1,957.7 1,727.5 1,926.0 Industrial Products segment Industrial Filtration Solutions 621.9 581.2 641.8 Gas Turbine Systems 96.2 101.6 106.3 Special Applications 178.1 171.5 170.8 Total Industrial Products segment 896.2 854.3 918.9 Total net sales $ 2,853.9 $ 2,581.8 $ 2,844.9 Net sales, generally disaggregated by location where the customer’s order was received, and property, plant and equipment, net by geographic region were as follows (in millions): Net Sales Property, Plant and Equipment, Net Year ended July 31, 2021 U.S. and Canada $ 1,084.2 $ 214.0 EMEA 865.7 220.4 APAC 649.2 60.4 LATAM 254.8 123.0 Total $ 2,853.9 $ 617.8 Year ended July 31, 2020 U.S. and Canada $ 1,059.9 $ 229.0 EMEA 760.2 229.4 APAC 553.2 59.8 LATAM 208.5 113.4 Total $ 2,581.8 $ 631.6 Year ended July 31, 2019 U.S. and Canada $ 1,192.6 $ 231.0 EMEA 826.8 199.1 APAC 597.9 50.2 LATAM 227.6 108.6 Total $ 2,844.9 $ 588.9 Concentrations There were no customers that accounted for over 10% of net sales during the years ended July 31, 2021, 2020 or 2019. There were no customers that accounted for over 10% of gross accounts receivable as of July 31, 2021 or 2020.

Restructuring

Restructuring	12 Months Ended
	Jul. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In the second quarter of fiscal 2021, the Company initiated activities to further improve its operating and manufacturing cost structure, primarily in its EMEA region. These activities resulted in restructuring charges, primarily related to severance, of $14.8 million in the second quarter of fiscal 2021. Charges of $5.8 million were included in cost of sales and $9.0 million were included in operating expenses in the Consolidated Statement of Earnings for year ended July 31, 2021

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company and all of its majority-owned subsidiaries. All intercompany accounts and transactions have been elimin ated. The Company’s joint ventures are not majority-owned and are accounted for under the equity method. Certain reclassifications to previously reported financial information have been made to conform to the current period presentation.
Use of Estimates	Use of Estimates The preparation of the Company’s financial statements in conformity with generally accepted accounting principles (GAAP) in the United States (U.S.) requires management to make estimates and assumptions that affect the amount of assets and liabilities and the disclosures regarding contingent assets and liabilities at period end, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The effects of the ongoing Coronavirus (COVID-19) pandemic continue to impact global economic conditions. Management cannot predict with specificity the extent and duration of any future impact on the Company’s business and financial results from the COVID-19 pandemic.
Foreign Currency Translation	Foreign Currency TranslationFor most foreign operations, local currencies are considered the functional currency. Assets and liabilities of non-U.S. dollar functional currency entities are translated to U.S. dollars at fiscal year-end exchange rates and the resulting gains and losses arising from the translation of net assets located outside the U.S. are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive loss on the Consolidated Balance Sheets. Elements of the Consolidated Statements of Earnings are translated at average exchange rates in effect during the fiscal year.
Cash Equivalents	Cash EquivalentsThe Company considers all highly liquid temporary investments with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost which approximates market value.
Revenue Recognition	Revenue Recognition Revenue is measured as the amount of consideration the Company expects to receive in exchange for the fulfillment of performance obligations. The transaction price of a contract could be reduced by variable consideration including product volume rebates, discounts, refunds and returns, in the determination of net sales. The Company primarily relies on historical experience and anticipated future performance to estimate variable consideration. Revenue is recognized to the extent that it is probable that a significant reversal of revenue will not occur when outstanding contingencies are resolved. The Company accounts for amounts billed to customers for reimbursement of shipping and handling as fulfillment costs by recording these amounts as revenue and accruing costs when the related revenue is recognized. For most customer contracts, the Company recognizes revenue at a point in time when control of the goods or services is transferred to the customer. For product sales, control is typically deemed to have transferred in accordance with the shipping terms, either at the time of shipment from the plants or distribution centers or the time of delivery to the customers. Revenue is recognized for services upon completion o f those services. Payment terms vary by customer and the geographic location of the customer. The Company’s contracts with customers do not include significant financing components or non-cash consideration. The Company has some contracts with customers where the performance obligations are satisfied over time. Certain customer contracts provide the Company with an enforceable right to payment of the transaction price for performance completed to date and the Company uses an output method of production to measure the progress towards the completion of the performance obligation in these arrangements. The timing of revenue recognized from these products is slightly accelerated compared to revenue recognized at the time of shipment or delivery. Incremental costs of obtaining a contract with a customer and other co sts to fulfill a contract are required to be capitalized unless the Company elects to expense contract costs with periods of less than one year. The Company has elected to expense these costs of obtaining a contract as incurred when the related contract period is less than one year. The Company does not pay upfront sales commissions on contracts when the related contract period is greater than one year, thus has not capitalized any amounts as of July 31, 2021, see Note 3.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable, Net and Allowance for Doubtful Accounts Accounts receivable, net are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of credit losses in its existing accounts receivable. The Company determines the allowance based on utilization of a combination of aging schedules with reserve rates applied to both current and aged receivables using historical write-off experience, regional economic data and evaluation of specific customer accounts for risk of loss and changes in current or projected conditions to calculate the allowances related to accounts receivable, net. The Company reviews its allowance for doubtful accounts monthly. Account balances are reviewed on a pooled basis by reporting unit and geographic region, and are reserved when the Company determines it is probable the receivable will not be recovered. The Company reduces the receivable, and corresponding allowance when it confirms an account is uncollectible.
Inventories	InventoriesInventories are stated at the lower of cost and net realizable value. U.S. inventories are valued using the last-in, first-out (LIFO) method while the non-U.S. inventories are valued using the first-in, first-out (FIFO) method.
Property, Plant and Equipment	Property, Plant and EquipmentProperty, plant and equipment are stated at cost. Additions, improvements or major renewals are capitalized while expenditures that do not enhance or extend the asset’s useful life are expensed as incurred. Depreciation is computed using the straight-line method.
Internal-Use Software	Internal-Use Software The Company capitalizes direct costs of materials and services used in the development and purchase of internal-use software. Amounts capitalized are amortized on a straight-line basis over a period of five
Cloud Computing Software	Cloud Computing Arrangements The Company capitalizes certain costs incurred during the application development stage of implementation of internal-use software in cloud computing arrangements. Amounts capitalized are amortized on a straight-line basis over a period of five
Goodwill and Other Intangible Assets	Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations under the purchase method of accounting. Intangible assets, comprised of customer relationships, patents, trademarks and technology, are amortized on a straight-line basis over their estimated useful lives of five 20 years . Goodwill is assessed for impairment annually or if an event occurs or circumstances change that would indicate the carrying amount may be impaired. The impairment assessment for goodwill is done at a reporting unit level. Reporting units are one level below the operating segment level but can be combined when reporting units within the same operating segment have similar economic characteristics. An impairment loss would be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit, see Note 6.
Recoverability of Long-Lived Assets	Recoverability of Long-Lived AssetsThe Company reviews its long-lived assets, including identifiable intangibles, for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying value is reduced to the fair market value.
Income Taxes	Income Taxes The provision for income taxes is computed based on the pretax income reported for financial statement purposes. Deferred tax assets and liabilities are recognized for the expected future tax consequences attributed to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are anticipated to reverse. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized.
Leases	Leases The Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) (ASU 2016-02) in the first quarter of fiscal 2020. This ASU requires lessees to recognize right-of-use assets and lease liabilities for substantially all leases. The Company determines whether an arrangement that provides control over the use of an asset to the Company is a lease. The Company recognizes a lease liability and corresponding right-of-use asset on the Consolidated Balance Sheets based on the present value of future lease payments, and recognizes lease expense on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets, and are expensed on a straight-line basis over the lease term . Variable lease expense primarily includes leases with payments indexed to inflation when the index changes after lease commencement, and is immaterial. The Company has elected to separate payments fo r lease components from non-lease components for all asset classes. Lease agreements may include extension, termination or purchase options, all of which are considered in calculating the lease liability and right-of-use asset when it is reasonably certain the Company will exercise an option. The Company’s incremental borrowing rate on the commencement date is used to calculate the present value of future payments for most leases since the rate implicit in the lease is generally not readily determinable, see Note 9.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense is recognized using the fair value method for all awards, see Note 13.
Treasury Stock	Treasury Stock Repurchased common stock is stated at cost, determined on an average cost basis, and is presented as a reduction of stockholders’ equity on the Consolidated Balance Sheets.
Research and Development Expense	Research and Development ExpensesResearch and development expenses include scientific research costs such as salaries, facility costs, testing, technical information technology and administrative expenditures as well as an allocation of corporate costs. Research and development expenses are for the application of scientific advances to the development of new and improved products and their uses. Substantially all research and development is performed in-house. Expenses are charged against earnings in the year incurred.
Forward Foreign Currency Contracts and Net Investment Hedges	Forward Foreign Currency Exchange Contracts The Company buys materials from foreign suppliers. Those transactions can be denominated in those suppliers’ local currency. The Company also sells to customers in foreign countries. Those transactions can be denominated in those customers’ local currency. Both of these transaction types can create volatility in the Company’s financial statements. The Company uses forward currency exchange contracts to manage those exposures and fluctuations. These contracts generally mature in 12 months or less, which is consistent with the forecasts of the rel ated purchases and sales. Certain contracts are designated as cash flow hedges, whereas the remaining contracts, related to certain intercompany transactions, are not designated, see Note 15. Net Investment Hedges The Company uses fixed-to-fixed cross-currency swap agreements to hedge its exposure to adverse foreign currency exchange rate movements for its operations in Europe. This contract terminates in July 2029. The Company has elected the spot method of designating these contracts as net investment hedges, see Note 15. The Company uses swap agreements to hedge exposure related to interest expense and to manage its exposure to interest rate movements. The Company enters into interest rate s wap agreements designated as cash flow hedges to
Product Warranties	Product WarrantiesThe Company provides for estimated warranty expense at the time of sale and accrues for specific items at the time their existence is known and the amounts are determinable. The Company estimates warranty expense using quantitative measures based on historical warranty claim experience and evaluation of specific customer warranty issues
New Accounting Standards Recently Adopted and Not Yet Adopted	New Accounting Standards Recently Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (ASU 2016-13). In November 2018, the FASB issued an update, ASU 2018-19, that clarifies the scope of the standard in the amendments in ASU 2016-13. This guidance introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. Financial instruments impacted include accounts receivable and other financial assets measured at amortized cost and other off-balance sheet credit exposures. The Company adopted ASU 2016-13 in the first quarter of fiscal 2021 using the modified retrospective approach. The adoption did not have a material impact on its Consolidated Financial Statements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815 Derivatives and Hedging and Topic 825, Financial Instruments (ASU 2019-04). This guidance clarifies the standards on credit losses (Topic 326), derivatives and hedging (Topic 815) and recognition and measurement of financial instruments (Topic 825). The Company adopted ASU 2019-04 in the first quarter of fiscal 2021 using the modified retrospective approach. The adoption did not have a material impact on its Consolidated Financial Statements. New Accounting Standards Not Yet Adopted The Company considers the applicability and impact of all ASU’s issued but not yet adopted. The Company assessed ASU’s not listed above and determined that they were either not applicable or were not expected to have a material impact on the Company’s financial reporting.
Earnings Per Share	Basic net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares. Diluted net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options and other stock incentive plans.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Jul. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Net sales, generally disaggregated by location where the customer’s order was placed, were as follows (in millions): Year Ended July 31, 2021 2020 2019 U.S. and Canada $ 1,084.2 $ 1,059.9 $ 1,192.6 Europe, Middle East and Africa (EMEA) 865.7 760.2 826.8 Asia Pacific (APAC) 649.2 553.2 597.9 Latin America (LATAM) 254.8 208.5 227.6 Total net sales $ 2,853.9 $ 2,581.8 $ 2,844.9

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
	Jul. 31, 2021
Inventory Disclosure [Abstract]
Components of inventory	The components of inventories, net were as follows (in millions): July 31, 2021 2020 Raw materials $ 148.1 $ 109.6 Work in process 43.2 32.8 Finished products 193.2 180.3 Total inventories, net $ 384.5 $ 322.7

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
Components of property, plant and equipment	The components of property, plant and equipment, net were as follows (in millions): July 31, 2021 2020 Land $ 27.1 $ 24.9 Buildings 410.8 384.5 Machinery and equipment 972.0 880.1 Computer software 144.3 145.4 Construction in progress 40.6 102.8 Less accumulated depreciation (977.0) (906.1) Total property, plant and equipment, net $ 617.8 $ 631.6

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of reconciliation of goodwill	Goodwill by reportable segment was as follows (in millions): Engine Products Segment Industrial Products Segment Total Balance as of July 31, 2019 $ 84.5 $ 218.6 $ 303.1 Goodwill acquired — 5.4 5.4 Currency translation 0.3 8.0 8.3 Balance as of July 31, 2020 84.8 232.0 316.8 Goodwill acquired — — — Currency translation (0.1) 5.8 5.7 Balance as of July 31, 2021 $ 84.7 $ 237.8 $ 322.5
Schedule of reconciliation of intangibles	Intangible asset classes were as follows (in millions, except weighted average useful life): July 31, 2021 July 31, 2020 Weighted Average Useful Life (years) Gross Accumulated Gross Accumulated Customer relationships 11.7 $ 107.5 $ (56.4) $ 105.2 $ (50.0) Patents, trademarks and technology 6.8 24.3 (13.8) 23.7 (11.6) Total intangible assets, net $ 131.8 $ (70.2) $ 128.9 $ (61.6)
Schedule of expected amortization expense	Amortization expense relating to existing intangible assets as of July 31, 2021 was as follows (in millions): 2022 $ 7.2 2023 6.3 2024 5.9 2025 5.8 2026 5.5 Thereafter 30.9 Total amortization expense $ 61.6

Short-Term Borrowings and Lon_2

Short-Term Borrowings and Long-Term Debt (Tables)	12 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Schedule of short-term borrowings	Short-term borrowings were as follows (in millions): European Commercial Paper Program U.S. Credit Facilities Rest of the World Credit Facilities European Operations Credit Facilities Total Year Ended July 31, 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Available credit facilities $ 118.2 $ 118.4 $ 100.0 $ 190.0 $ 64.1 $ 54.6 $ 54.3 $ 55.4 $ 336.6 $ 418.4 Reductions to borrowing capacity: Outstanding borrowings — — 48.5 — — 3.8 — — 48.5 3.8 Other non-borrowing reductions — — — — 19.6 21.1 30.6 20.9 50.2 42.0 Total reductions — — 48.5 — 19.6 24.9 30.6 20.9 98.7 45.8 Remaining borrowing capacity $ 118.2 $ 118.4 $ 51.5 $ 190.0 $ 44.5 $ 29.7 $ 23.7 $ 34.5 $ 237.9 $ 372.6 Weighted average interest rate as of July 31, 2021 and 2020 N/A N/A 0.96 % N/A N/A 1.48 % N/A N/A N/A N/A

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt was as follows: Interest Rate Outstanding Balance Financial Instrument Fixed or Variable Amount Maturity Date July 31, 2021 July 31, 2020 July 31, 2021 July 31, 2020 Unsecured senior notes Fixed $125.0 million March 27, 2024 3.72 % 3.72 % $ 125.0 $ 125.0 Unsecured senior notes Fixed $125.0 million June 17, 2030 3.18 % 3.18 % 125.0 125.0 Unsecured term loan Variable €80.0 million October 28, 2024 0.70 % 0.70 % 95.1 94.7 Unsecured revolving credit facility Variable $500.0 million May 21, 2026 1.10 % 1.29 % 75.0 240.0 Unsecured senior notes Fixed $25.0 million April 16, 2025 2.93 % 2.93 % 25.0 25.0 Unsecured term loan Variable ¥1.0 billion May 20, 2024 0.42 % 0.41 % 9.1 9.6 Unsecured term loan Variable ¥1.0 billion July 15, 2026 0.47 % N/A 9.1 N/A Unsecured senior notes Fixed $50.0 million November 5, 2028 2.12 % N/A — N/A Unsecured senior notes Fixed $100.0 million August 5, 2031 2.50 % N/A — N/A Unsecured term loan Variable ¥600.0 million July 15, 2021 N/A 0.27 % N/A 5.7 Debt issuance costs, net (2.3) (1.9) Subtotal 461.0 623.1 Less current maturities — 5.7 Total long-term debt $ 461.0 $ 617.4
Schedule of maturities of long-term debt	Future maturities of the Company’s long-term debt as of July 31, 2021 were as follows (in millions): 2022 $ — 2023 — 2024 134.1 2025 120.1 2026 84.1 Thereafter 125.0 Total future maturities payments 463.3 Less debt issuance costs, net 2.3 Total future maturities payments, net of debt issuance costs $ 461.0

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of components of earnings before income taxes	The components of earnings before income taxes were as follows (in millions): Year Ended July 31, 2021 2020 2019 U.S. $ 114.1 $ 112.8 $ 127.4 Foreign 266.9 222.4 247.8 Total $ 381.0 $ 335.2 $ 375.2
Schedule of components of the provision for income taxes	The components of the provision for income taxes were as follows (in millions): Year Ended July 31, 2021 2020 2019 Current Federal $ 13.2 $ 9.7 $ 21.3 State 3.9 3.1 4.0 Foreign 82.9 62.7 72.5 Total current 100.0 75.5 97.8 Deferred Federal (1.9) 4.1 7.4 State (0.2) 0.2 1.4 Foreign (3.8) (1.6) 1.4 Total deferred (5.9) 2.7 10.2 Total provision for income taxes $ 94.1 $ 78.2 $ 108.0
Schedule of reconciliation of the U.S. statutory income tax rate with the effective income tax rate	The reconciliation of the U.S. statutory income tax rate with the effective income tax rate was as follows: Year Ended July 31, 2021 2020 2019 Statutory U.S. federal rate 21.0 % 21.0 % 21.0 % State income taxes 0.8 0.9 1.3 Foreign operations 4.4 3.5 4.7 Global Intangible Low Tax Income 0.6 0.2 1.3 Foreign Derived Intangible Income (0.7) (1.4) (1.4) Export, manufacturing and research credits (0.7) (0.7) (0.8) Change in unrecognized tax benefits 0.2 0.6 (0.8) Tax benefits on stock-based compensation (1.0) (1.2) (1.6) Impact of U.S. Tax Cuts and Jobs Act — — 5.0 Other 0.1 0.4 0.1 Effective income tax rate 24.7 % 23.3 % 28.8 %
Schedule of the tax effects of temporary differences that give rise to deferred tax assets and liabilities	The tax effects of temporary differences that give rise to deferred tax assets and liabilities were as follows (in millions): July 31, 2021 2020 Deferred tax assets Accrued expenses $ 12.8 $ 9.9 Compensation and retirement plans 28.3 31.8 Net operating loss (NOL) and tax credit carryforwards 7.9 8.1 Inventory reserves 2.6 3.4 Operating lease assets 12.7 18.8 Other 7.7 4.2 Gross deferred tax assets 72.0 76.2 Valuation allowance (4.6) (8.1) Deferred tax assets, net of valuation allowance 67.4 68.1 Deferred tax liabilities Depreciation and amortization (57.0) (47.4) Operating lease liabilities (12.7) (18.8) Other (3.5) (1.8) Deferred tax liabilities (73.2) (68.0) Net deferred tax (liability) asset $ (5.8) $ 0.1
Schedule of NOL and tax credit valuation allowances	The activity in the NOL and tax credit valuation allowances was as follows (in millions): Year Ended July 31, 2021 2020 2019 Balance as of beginning of year $ (8.1) $ (4.4) $ (6.2) Additions charged to costs and expenses (0.8) (3.7) (0.2) Deductions from reserves 4.3 — 2.0 Balance as of end of year $ (4.6) $ (8.1) $ (4.4)
Summary of reconciliation of the beginning and ending amount of gross unrecognized tax benefits	The reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows (in millions): Year Ended July 31, 2021 2020 2019 Balance as of beginning of year $ 16.9 $ 15.5 $ 18.5 Additions for tax positions of the current year 4.7 2.8 2.5 Additions for tax positions of prior years 2.7 0.2 0.7 Reductions for tax positions of prior years (1.0) (0.1) (4.9) Reductions due to lapse of applicable statute of limitations (4.6) (1.5) (1.3) Balance as of end of year $ 18.7 $ 16.9 $ 15.5

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jul. 31, 2021
Leases [Abstract]
Lease cost	The Company’s operating lease costs were as follows (in millions): Year Ended July 31, 2021 2020 Operating lease cost $ 25.6 $ 30.1 Short-term lease cost 2.4 2.4 Total lease costs $ 28.0 $ 32.5
Supplemental balance sheet information	Supplemental balance sheet information for the Company was as follows (in millions): July 31, 2021 2020 Right-of-use lease assets $ 51.2 $ 73.7 Current lease liabilities $ 18.1 $ 25.7 Long-term lease liabilities $ 33.7 $ 48.1 Additional information related to operating leases was as follows: July 31, 2021 2020 Weighted average remaining lease term (years) 4.6 4.8 Weighted average discount rate 3.26 % 3.50 %
Operating lease liability schedule	Remaining payments for operating leases having initial terms of more than one year as of as of July 31, 2021 were as follows (in millions): 2022 $ 18.9 2023 12.3 2024 7.3 2025 4.3 2026 3.8 Thereafter 7.7 Total future lease payments 54.3 Less imputed interest 3.1 Present value of future lease payments $ 51.2

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jul. 31, 2021
Earnings Per Share [Abstract]
Schedule of information necessary to calculate basic and diluted earnings per share	Basic and diluted net earnings per share calculations were as follows (in millions, except per share amounts): Year Ended July 31, 2021 2020 2019 Net earnings $ 286.9 $ 257.0 $ 267.2 Weighted average common shares outstanding Weighted average common shares – basic 126.4 126.9 128.3 Dilutive impact of stock-based awards 1.8 1.4 2.0 Weighted average common shares – diluted 128.2 128.3 130.3 Net earnings per share – basic $ 2.27 $ 2.03 $ 2.08 Net earnings per share – diluted $ 2.24 $ 2.00 $ 2.05 Stock options excluded from net earnings per share calculation 0.8 1.7 0.8

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Jul. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of treasury stock activity	Treasury stock share activity was as follows: Year Ended July 31, 2021 2020 Balance as of beginning of year 25,304,515 24,324,483 Stock repurchases 2,416,741 2,030,545 Net issuance upon exercise of stock options (1,004,298) (833,168) Issuance under compensation plans (82,998) (198,120) Other activity (13,400) (19,225) Balance as of end of year 26,620,560 25,304,515

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Jul. 31, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive loss by component	Changes in accumulated other comprehensive loss for the years ended July 31, 2021 and 2020 were as follows (in millions): Foreign Pension Derivative Total Balance as of July 31, 2020, net of tax $ (74.0) $ (110.0) $ — $ (184.0) Other comprehensive income before reclassifications and tax 30.0 36.8 (1) 1.0 67.8 Tax expense — (9.3) (0.2) (9.5) Other comprehensive income before reclassifications, net of tax 30.0 27.5 0.8 58.3 Reclassifications, before tax — 10.0 (2) (0.2) 9.8 Tax expense — (2.2) (0.1) (2.3) Reclassifications, net of tax — 7.8 (0.3) (3) 7.5 Other comprehensive income, net of tax 30.0 35.3 0.5 65.8 Balance as of July 31, 2021, net of tax $ (44.0) $ (74.7) $ 0.5 $ (118.2) Balance as of July 31, 2019, net of tax $ (92.7) $ (99.0) $ (1.2) $ (192.9) Other comprehensive income (loss) before reclassifications and tax 18.7 (16.8) (1) 0.6 2.5 Tax benefit — 4.1 — 4.1 Other comprehensive income (loss) before reclassifications, net of tax 18.7 (12.7) 0.6 6.6 Reclassifications, before tax — 2.5 (2) 1.0 3.5 Tax expense — (0.8) (0.4) (1.2) Reclassifications, net of tax — 1.7 0.6 (3) 2.3 Other comprehensive income (loss), net of tax 18.7 (11.0) 1.2 8.9 Balance as of July 31, 2020, net of tax $ (74.0) $ (110.0) $ — $ (184.0) (1) In fiscal 2021, pension curtailment and settlement accounting was triggered and the Company recorded charges of $2.8 million. Remeasurements of the Company’s pension obligations resulted in a decrease to other comprehensive loss of $36.8 million, see Note 14. In fiscal 2020, pension settlement accounting was triggered and the Company recorded a pension settlement charge of $3.1 million. Remeasurements of the Company’s pension obligations resulted in an increase to other comprehensive loss of $16.8 million, see Note 14. (2) Includes net amortization of prior service costs and actuarial losses included in net periodic benefit costs that were reclassified from accumulated other comprehensive loss on the Consolidated Balance Sheets to cost of sales and operating expenses in the Consolidated Statements of Earnings, see Note 14. (3) Relates to designated forward foreign currency exchange contracts that were reclassified from accumulated other comprehensive loss to other income, net in the Consolidated Statements of Earnings, see Note 15.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Jul. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of valuation assumption used to determine fair value of stock-based compensation awards	The fair value of these awards was determined using following inputs: Year Ended July 31, 2021 2020 2019 Risk-free interest rate 0.5% - 1.3% 0.8% - 1.9% 2.1% - 3.1% Expected volatility 25.4% - 26.6% 21.0% - 23.7% 16.0% - 21.5% Expected dividend yield 1.6 % 1.6 % 1.6 % Expected life: Director and officer grants 8 years 8 years 8 years Non-officer grants 7 years 7 years 7 years
Schedule of stock option activity	Option activity was as follows: Options Weighted Balance as of July 31, 2018 6,785,812 $ 34.93 Granted 908,925 58.02 Exercised (1,103,054) 25.07 Canceled/forfeited (60,433) 50.57 Balance as of July 31, 2019 6,531,250 39.66 Granted 944,094 51.94 Exercised (845,086) 30.35 Canceled/forfeited (96,279) 52.72 Balance as of July 31, 2020 6,533,979 42.44 Granted 1,004,631 46.61 Exercised (1,030,938) 36.00 Canceled/forfeited (62,929) 49.95 Balance as of July 31, 2021 6,444,743 $ 44.05
Schedule of outstanding and exercisable options	Outstanding and exercisable stock options as of July 31, 2021 were as follows: Range of Exercise Prices Number Weighted Weighted Number Weighted Weighted $28.00 to $32.49 701,597 4.4 $ 28.22 701,597 4.4 $ 28.22 $32.50 to $37.49 564,098 1.5 34.37 564,098 1.5 34.37 $37.50 to $42.49 1,133,867 3.2 40.29 1,133,867 3.2 40.29 $42.50 to $47.49 2,294,336 7.0 44.80 1,354,933 5.5 43.97 $47.50 and above 1,750,845 7.7 54.96 845,358 7.4 55.82 6,444,743 5.7 $ 44.05 4,599,853 4.6 $ 41.66
Schedule of status of options that contain vesting provisions	For the year ended July 31, 2021, activity for non-vested stock options that contain vesting provisions was as follows: Options Weighted Balance as of beginning of year 1,744,931 $ 11.18 Granted 1,004,631 10.23 Vested (849,496) 10.94 Canceled (55,176) 10.65 Balance as of end of year 1,844,890 $ 10.79
Schedule of performance shares activity	The weighted average grant date fair value related to the Company’s performance-based awards was as follows: Year Ended July 31, 2021 2020 2019 Weighted average grant date fair value $ 46.06 $ 51.61 $ 58.35 Performance-based award for non-vested activity was as follows: Performance Shares Weighted Balance as of beginning of year 198,200 $ 54.93 Granted 106,100 46.06 Vested (95,133) 58.35 Canceled (8,600) 51.56 Balance as of end of year 200,567 $ 48.76

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Jul. 31, 2021
Defined Benefit Plan Disclosure
Schedule of net periodic pension costs and amounts recognized in other comprehensive income	Net periodic pension costs and amounts recognized in other comprehensive (loss) income for the Company’s pension plans were as follows (in millions): Year Ended July 31, 2021 2020 2019 Net periodic benefit cost Service cost $ 7.5 $ 9.5 $ 6.0 Interest cost 10.2 13.5 16.4 Expected return on assets (23.7) (26.1) (26.5) Prior service cost and transition amortization 0.3 0.7 0.6 Actuarial loss amortization 8.2 6.5 4.4 Settlement charge 2.0 3.1 2.9 Curtailment charge 0.8 — — Net periodic benefit costs 5.3 7.2 3.8 Other changes recognized in other comprehensive income (loss): Net actuarial gain (loss) 35.9 (25.2) (29.0) Amortization of asset obligations — 0.2 0.2 Amortization of prior service cost 1.2 0.6 0.4 Amortization of net actuarial loss 10.2 9.5 7.3 Total recognized in other comprehensive income (loss) 47.3 (14.9) (21.1) Total recognized in net periodic benefit costs and other comprehensive income (loss) $ 42.0 $ (22.1) $ (24.9)
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, 2021 and 2020 were as follows (in millions): Year Ended July 31, 2021 2020 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 585.6 $ 520.4 Service cost 7.5 9.5 Interest cost 10.2 13.5 Participant contributions 0.8 0.8 Actuarial (gain) loss (5.7) 55.2 Currency exchange rates 8.4 12.8 Settlements paid (10.7) (10.7) Benefits paid (16.2) (15.9) Projected benefit obligation, end of year 579.9 585.6 Change in fair value of plan assets Fair value of plan assets, beginning of year 550.6 502.2 Actual return on plan assets 55.6 59.1 Company contributions 3.1 3.0 Participant contributions 0.8 0.8 Currency exchange rates 8.1 12.1 Settlements paid (10.7) (10.7) Benefits paid (16.2) (15.9) Fair value of plan assets, end of year 591.3 550.6 Funded status of plans, end of year $ 11.4 $ (35.0) Amounts recognized on the Consolidated Balance Sheets Other long-term assets $ 37.5 $ 6.2 Other current liabilities (1.3) (1.5) Other long-term liabilities (24.8) (39.7) Net recognized asset (liability) $ 11.4 $ (35.0)
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, 2021 2020 All U.S. plans Discount rate 2.55 % 2.37 % Expected rate of return on plan assets 5.33 % 6.08 % Rate of compensation increase N/A N/A Non-U.S. plans Discount rate 1.55 % 1.48 % Expected rate of return on plan assets 3.13 % 3.78 % Rate of compensation increase 2.86 % 2.88 %
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 benefit cost were as follows: Year Ended July 31, 2021 2020 2019 All U.S. plans Discount rate 2.37 % 3.55 % 4.43 % Expected rate of return on plan assets 5.33 % 6.08 % 6.25 % Rate of compensation increase N/A N/A N/A Non-U.S. plans Discount rate 1.52 % 1.85 % 2.43 % Expected rate of return on plan assets 3.13 % 3.78 % 4.08 % Rate of compensation increase 2.86 % 2.72 % 2.69 %
Schedule of estimated fair value of pension plan assets and their respective levels in the fair value hierarchy	During the year ended July 31, 2021, the Company’s asset allocation were as follows: Salaried Pension Plan Hourly Pension Plan Global equities 33 % 29 % Fixed income 65 70 Real assets 1 — Cash and cash equivalents 1 1 Total 100 % 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, 2021 July 31, 2020 NAV Unfunded Commitments NAV Unfunded Commitments Redemption Frequency (If Currently Eligible) Redemption Notice (Days) Global equity securities $ 50.7 $ 1.8 $ 49.5 $ 1.8 Monthly, Weekly 10 - 90 Fixed income securities 20.4 — — — Quarterly, Semi-Annually 60 - 90 Private equity and other funds — — 17.8 — Quarterly, Semi-Annually 60 - 90 Real asset funds 2.4 4.3 3.0 4.3 Not eligible N/A Total U.S. assets $ 73.5 $ 6.1 $ 70.3 $ 6.1
Schedule of estimated future benefit payments	Estimated future benefit required payments for the Company’s pension plans as of July 31, 2021 were as follows (in millions): 2022 $ 30.7 2023 $ 26.1 2024 $ 28.1 2025 $ 30.1 2026 $ 28.3 2027-2031 $ 145.4
U.S. Plan
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 1 Level 2 Level 3 Total Balances of July 31, 2021 Cash and cash equivalents $ 2.2 $ 1.0 $ — $ 3.2 Global equity securities 184.1 — — 184.1 Fixed income securities 134.4 158.4 — 292.8 Insurance contracts — — 37.7 37.7 Total investments in the fair value hierarchy $ 320.7 $ 159.4 $ 37.7 517.8 Investments using NAV per share as practical expedient 73.5 Total assets $ 591.3 Balances as of July 31, 2020 Cash and cash equivalents $ 6.8 $ 3.3 $ — $ 10.1 Global equity securities 170.9 — — 170.9 Fixed income securities 111.4 110.8 — 222.2 Investment funds — 41.7 — 41.7 Insurance contracts — — 35.4 35.4 Total investments in the fair value hierarchy $ 289.1 $ 155.8 $ 35.4 480.3 Investments using NAV per share as practical expedient 70.3 Total assets $ 550.6
Non - U.S. Plan
Defined Benefit Plan Disclosure
Summary 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): Ending balance as of July 31, 2018 $ 28.6 Unrealized gains 3.5 Foreign currency exchange (1.5) Purchases 0.5 Sales (0.3) Ending balance as of July 31, 2019 30.8 Unrealized gains 4.1 Foreign currency exchange 2.1 Purchases 0.5 Sales (2.1) Ending balance as of July 31, 2020 35.4 Unrealized gains 3.6 Foreign currency exchange 0.1 Purchases 0.6 Sales (2.0) Ending balance as of July 31, 2021 $ 37.7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jul. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of derivatives on balance sheet	The fair value of the Company’s derivative contracts, which were recorded on the Consolidated Balance Sheets was as follows (in millions): Fair Values Significant Other Observable Inputs Total Notional Amounts Assets Liabilities July 31, July 31, July 31, 2021 2020 2021 2020 2021 2020 Designated as hedging instruments Forward foreign currency exchange contracts (1) $ 117.2 $ 68.1 $ 1.0 $ 0.1 $ 1.2 $ 0.6 Net investment hedge 55.8 55.8 1.1 1.2 2.0 — Total designated 173.0 123.9 2.1 1.3 3.2 0.6 Not designated as hedging instruments Forward foreign currency exchange contracts (2) 154.2 169.1 0.5 2.0 0.4 0.8 Total not designated 154.2 169.1 0.5 2.0 0.4 0.8 Total $ 327.2 $ 293.0 $ 2.6 $ 3.3 $ 3.6 $ 1.4 (1) The total notional amount of $117.2 million as of July 31, 2021 includes purchases of $73.0 million and sales of $44.2 million, or net purchases of $28.8 million. The total notional amount of $68.1 million as of July 31, 2020 includes purchases of $45.2 million and sales of $22.9 million, or net purchases of $22.3 million. (2) The total notional amount of $154.2 million as of July 31, 2021 includes purchases of $76.1 million and sales of $78.1 million, or net sales of $2.0 million. The total notional amount of $169.1 million as of July 31, 2020 includes purchases of $82.9 million and sales of $86.2 million, or net sales of $3.2 million.

Guarantees (Tables)

Guarantees (Tables)	12 Months Ended
	Jul. 31, 2021
Product Warranties Disclosures [Abstract]
Guarantor obligations	The outstanding debt relating to AFSI and the contingent liability for standby letters of credit relating to the Company was as follows (in millions): July 31, 2021 2020 Outstanding debt of AFSI (the Company guarantees half) $ 37.8 $ 40.0 Contingent liability for standby letters of credit issued under the Company’s revolving credit facility $ 7.7 $ 7.5 Amounts drawn for letters of credit under the Company’s revolving credit facility $ — $ — The letters of credit guarantee payment to third parties in the event the Company is in breach of contract terms as detailed in each letter of credit.
Joint venture items	Items relating to AFSI, which are recorded in other income, net in the Consolidated Statements of Earnings were as follows (in millions): Year Ended July 31, 2021 2020 2019 Investment earnings from AFSI $ 1.8 $ 2.2 $ (0.3) Royalty income from AFSI $ 6.9 $ 6.8 $ 6.5

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Jul. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of segment detail	Segment details by product group were as follows (in millions): Engine Industrial Corporate and Total Year ended July 31, 2021 Net sales $ 1,957.7 $ 896.2 $ — $ 2,853.9 Equity earnings in unconsolidated affiliates $ 4.2 $ — $ — $ 4.2 Earnings (loss) before income taxes $ 289.0 $ 133.3 $ (41.3) $ 381.0 Equity investments in unconsolidated affiliates $ 24.2 $ — $ — $ 24.2 Year ended July 31, 2020 Net sales $ 1,727.5 $ 854.3 $ — $ 2,581.8 Equity earnings in unconsolidated affiliates $ 4.7 $ 0.5 $ — $ 5.2 Earnings (loss) before income taxes $ 229.3 $ 124.9 $ (19.0) $ 335.2 Equity investments in unconsolidated affiliates $ 21.7 $ — $ — $ 21.7 Year ended July 31, 2019 Net sales $ 1,926.0 $ 918.9 $ — $ 2,844.9 Equity earnings in unconsolidated affiliates $ 2.1 $ 0.1 $ — $ 2.2 Earnings (loss) before income taxes $ 254.6 $ 140.1 $ (19.5) $ 375.2 Equity investments in unconsolidated affiliates $ 19.0 $ 4.0 $ — $ 23.0
Reconciliation of net sales by product group per segment	Net sales by product group were as follows (in millions): Year Ended July 31, 2021 2020 2019 Engine Products segment Off-Road $ 328.1 $ 256.5 $ 315.1 On-Road 138.8 124.4 179.8 Aftermarket 1,394.6 1,228.9 1,315.3 Aerospace and Defense 96.2 117.7 115.8 Total Engine Products segment 1,957.7 1,727.5 1,926.0 Industrial Products segment Industrial Filtration Solutions 621.9 581.2 641.8 Gas Turbine Systems 96.2 101.6 106.3 Special Applications 178.1 171.5 170.8 Total Industrial Products segment 896.2 854.3 918.9 Total net sales $ 2,853.9 $ 2,581.8 $ 2,844.9
Schedule of net sales by origination and property, plant and equipment by geographic region	Net sales, generally disaggregated by location where the customer’s order was received, and property, plant and equipment, net by geographic region were as follows (in millions): Net Sales Property, Plant and Equipment, Net Year ended July 31, 2021 U.S. and Canada $ 1,084.2 $ 214.0 EMEA 865.7 220.4 APAC 649.2 60.4 LATAM 254.8 123.0 Total $ 2,853.9 $ 617.8 Year ended July 31, 2020 U.S. and Canada $ 1,059.9 $ 229.0 EMEA 760.2 229.4 APAC 553.2 59.8 LATAM 208.5 113.4 Total $ 2,581.8 $ 631.6 Year ended July 31, 2019 U.S. and Canada $ 1,192.6 $ 231.0 EMEA 826.8 199.1 APAC 597.9 50.2 LATAM 227.6 108.6 Total $ 2,844.9 $ 588.9

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Foreign currency transaction losses	$ 2,900,000	$ 4,700,000	$ 4,900,000
Percentage of LIFO inventory	30.40%	27.60%
Excess of FIFO over LIFO inventory	$ 40,600,000	$ 39,200,000
Depreciation	$ 87,100,000	79,300,000	73,500,000
Finite lived intangible asset estimated useful life	5 years
Asset impairment charges	$ 0	0	0
Cost of sales	$ 1,882,200,000	1,710,200,000	1,896,600,000
Customer relationships
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Finite lived intangible asset estimated useful life	11 years 8 months 12 days
Patents, trademarks and technology
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Finite lived intangible asset estimated useful life	6 years 9 months 18 days
Forward foreign currency exchange contracts
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Derivative instrument term (months)	12 months
Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Capitalization of direct cost, amortization period in years	5 years
Minimum | Patents, trademarks and technology
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Finite lived intangible asset estimated useful life	5 years
Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Capitalization of direct cost, amortization period in years	10 years
Maximum | Customer relationships
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Finite lived intangible asset estimated useful life	20 years
Maximum | Patents, trademarks and technology
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Finite lived intangible asset estimated useful life	20 years
Building and Building Improvements | Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Property, plant and equipment, useful life	10 years
Building and Building Improvements | Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Property, plant and equipment, useful life	40 years
Machinery and equipment | Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Property, plant and equipment, useful life	3 years
Machinery and equipment | Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Property, plant and equipment, useful life	10 years
Software development | Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Property, plant and equipment, useful life	5 years
Software development | Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Property, plant and equipment, useful life	7 years
Shipping and handling
Collaborative Arrangements and Non-collaborative Arrangement Transactions
Cost of sales	$ 79,200,000	$ 68,100,000	$ 76,700,000

Acquisitions and Divestitures (

Acquisitions and Divestitures (Narrative) (Details) - BOFA International LTD - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2021	Jul. 31, 2019
Business Acquisition
Business combination, percentage of voting interests acquired (percent)	9.00%	91.00%
Business Combination, Consideration Transferred	$ 8	$ 101.3
Cash acquired		$ 2.2

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue by Geographic Region) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disaggregation of Revenue
Net sales	$ 2,853.9	$ 2,581.8	$ 2,844.9
U.S. and Canada
Disaggregation of Revenue
Net sales	1,084.2	1,059.9	1,192.6
EMEA
Disaggregation of Revenue
Net sales	865.7	760.2	826.8
APAC
Disaggregation of Revenue
Net sales	649.2	553.2	597.9
LATAM
Disaggregation of Revenue
Net sales	$ 254.8	$ 208.5	$ 227.6

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with customer asset	$ 14.9	$ 11.9
Contract with customer liability	$ 12.2	$ 10

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Inventory, Net [Abstract]
Raw materials	$ 148.1	$ 109.6
Work in process	43.2	32.8
Finished products	193.2	180.3
Total inventories, net	$ 384.5	$ 322.7

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Property, Plant and Equipment
Less accumulated depreciation	$ (977)	$ (906.1)
Property, plant and equipment, net	617.8	631.6	$ 588.9
Land
Property, Plant and Equipment
Property, plant and equipment, gross	27.1	24.9
Buildings
Property, Plant and Equipment
Property, plant and equipment, gross	410.8	384.5
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	972	880.1
Computer software
Property, Plant and Equipment
Property, plant and equipment, gross	144.3	145.4
Construction in progress
Property, Plant and Equipment
Property, plant and equipment, gross	$ 40.6	$ 102.8

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Reconciliation of Goodwill) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment		$ 0	$ 0	$ 0
Payment to acquire interest in joint venture	$ 7,500,000
Goodwill
Beginning Balance		316,800,000	303,100,000
Goodwill acquired	5,400,000	0	5,400,000
Currency translation		5,700,000	8,300,000
Ending Balance	316,800,000	322,500,000	316,800,000	303,100,000
Engine Products Segment
Goodwill
Beginning Balance		84,800,000	84,500,000
Goodwill acquired		0	0
Currency translation		(100,000)	300,000
Ending Balance	84,800,000	84,700,000	84,800,000	84,500,000
Industrial Products Segment
Goodwill
Beginning Balance		232,000,000	218,600,000
Goodwill acquired		0	5,400,000
Currency translation		5,800,000	8,000,000
Ending Balance	$ 232,000,000	$ 237,800,000	$ 232,000,000	$ 218,600,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Reconciliation of Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Finite-Lived Intangible Assets
Weighted Average Useful Life (years)	5 years
Gross Carrying Amount	$ 131.8	$ 128.9
Accumulated Amortization	$ (70.2)	(61.6)
Customer relationships
Finite-Lived Intangible Assets
Weighted Average Useful Life (years)	11 years 8 months 12 days
Gross Carrying Amount	$ 107.5	105.2
Accumulated Amortization	$ (56.4)	(50)
Patents, trademarks and technology
Finite-Lived Intangible Assets
Weighted Average Useful Life (years)	6 years 9 months 18 days
Gross Carrying Amount	$ 24.3	23.7
Accumulated Amortization	$ (13.8)	$ (11.6)

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Expected Amortization Expense Relating to Existing Intangible Assets) (Details) $ in Millions	Jul. 31, 2021USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2022	$ 7.2
2023	6.3
2024	5.9
2025	5.8
2026	5.5
Thereafter	30.9
Total amortization expense	$ 61.6

Short-Term Borrowings and Lon_3

Short-Term Borrowings and Long-Term Debt (Details) - USD ($)	Jul. 31, 2021	Jul. 31, 2020
Short-term Debt
Short-term borrowings	$ 48,500,000	$ 3,800,000
Commercial Paper | European
Short-term Debt
Available credit facilities	118,200,000	118,400,000
Short-term borrowings	0	0
Remaining borrowing capacity	118,200,000	118,400,000
Commercial Paper | European | Outstanding borrowings
Short-term Debt
Short-term borrowings	0	0
Commercial Paper | European | Other non-borrowing reductions
Short-term Debt
Short-term borrowings	0	0
Line of credit
Short-term Debt
Available credit facilities	336,600,000	418,400,000
Short-term borrowings	98,700,000	45,800,000
Remaining borrowing capacity	237,900,000	372,600,000
Line of credit | Outstanding borrowings
Short-term Debt
Short-term borrowings	48,500,000	3,800,000
Line of credit | Other non-borrowing reductions
Short-term Debt
Short-term borrowings	50,200,000	42,000,000
Line of credit | European
Short-term Debt
Available credit facilities	54,300,000	55,400,000
Short-term borrowings	30,600,000	20,900,000
Remaining borrowing capacity	23,700,000	34,500,000
Line of credit | European | Outstanding borrowings
Short-term Debt
Short-term borrowings	0	0
Line of credit | European | Other non-borrowing reductions
Short-term Debt
Short-term borrowings	30,600,000	20,900,000
Line of credit | U.S. Credit Facilities
Short-term Debt
Available credit facilities	100,000,000	190,000,000
Short-term borrowings	48,500,000	0
Remaining borrowing capacity	$ 51,500,000	190,000,000
Weighted average interest rate (percent)	0.96%
Line of credit | U.S. Credit Facilities | Outstanding borrowings
Short-term Debt
Short-term borrowings	$ 48,500,000	0
Line of credit | U.S. Credit Facilities | Other non-borrowing reductions
Short-term Debt
Short-term borrowings	0	0
Line of credit | Rest of the World
Short-term Debt
Available credit facilities	64,100,000	54,600,000
Short-term borrowings	19,600,000	24,900,000
Remaining borrowing capacity	44,500,000	$ 29,700,000
Weighted average interest rate (percent)		1.48%
Line of credit | Rest of the World | Outstanding borrowings
Short-term Debt
Short-term borrowings	0	$ 3,800,000
Line of credit | Rest of the World | Other non-borrowing reductions
Short-term Debt
Short-term borrowings	$ 19,600,000	$ 21,100,000

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details)	Jul. 31, 2021USD ($)	Jul. 31, 2021EUR (€)	Jul. 31, 2021JPY (¥)	Jul. 31, 2020USD ($)	Jul. 31, 2020JPY (¥)
Debt Instrument
Debt issuance costs, net	$ (2,300,000)			$ (1,900,000)
Subtotal	461,000,000			623,100,000
Less current maturities	0			5,700,000
Long-term debt	461,000,000			$ 617,400,000
Unsecured notes | 3.72% fixed rate unsecured senior notes maturing 2024
Debt Instrument
Principal amount	$ 125,000,000
Debt instrument interest rate (percent)	3.72%	3.72%	3.72%	3.72%	3.72%
Long-term debt, gross	$ 125,000,000			$ 125,000,000
Unsecured notes | 3.18% fixed rate unsecured senior notes maturing 2030
Debt Instrument
Principal amount	$ 125,000,000
Debt instrument interest rate (percent)	3.18%	3.18%	3.18%	3.18%	3.18%
Long-term debt, gross	$ 125,000,000			$ 125,000,000
Unsecured notes | .70% variable rate unsecured senior notes maturing 2024
Debt Instrument
Principal amount | €		€ 80,000,000
Debt instrument interest rate (percent)	0.70%	0.70%	0.70%	0.70%	0.70%
Long-term debt, gross	$ 95,100,000			$ 94,700,000
Unsecured notes | 2.93% fixed rate unsecured senior notes maturing 2025
Debt Instrument
Principal amount	$ 25,000,000
Debt instrument interest rate (percent)	2.93%	2.93%	2.93%	2.93%	2.93%
Long-term debt, gross	$ 25,000,000			$ 25,000,000
Unsecured notes | .42% variable rate unsecured term loan maturing 2024
Debt Instrument
Principal amount | ¥			¥ 1,000,000,000
Debt instrument interest rate (percent)	0.42%	0.42%	0.42%	0.41%	0.41%
Long-term debt, gross | ¥			¥ 9,100,000		¥ 9,600,000
Unsecured notes | .47% variable rate unsecured term loan 2026
Debt Instrument
Principal amount | ¥			¥ 1,000,000,000
Debt instrument interest rate (percent)	0.47%	0.47%	0.47%
Long-term debt, gross | ¥			¥ 9,100,000
Unsecured notes | 2.12% fixed rate unsecured senior notes maturing 2028
Debt Instrument
Principal amount	$ 50,000,000
Debt instrument interest rate (percent)	2.12%	2.12%	2.12%
Long-term debt, gross	$ 0
Unsecured notes | 2.50% fixed rate unsecured senior notes maturing 2031
Debt Instrument
Principal amount	$ 100,000,000
Debt instrument interest rate (percent)	2.50%	2.50%	2.50%
Long-term debt, gross	$ 0
Unsecured notes | .27% variable rate unsecured term loan maturing 2021
Debt Instrument
Principal amount | ¥			¥ 600,000,000
Debt instrument interest rate (percent)				0.27%	0.27%
Long-term debt, gross | ¥					¥ 5,700,000
Unsecured revolving credit facility | Unsecured notes | 1.29 % Variable rate unsecured credit facility maturing 2026
Debt Instrument
Principal amount	$ 500,000,000
Debt instrument interest rate (percent)	1.10%	1.10%	1.10%	1.29%	1.29%
Long-term debt, gross	$ 75,000,000			$ 240,000,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	3 Months Ended	12 Months Ended
	Jul. 31, 2021USD ($)tranche	Jul. 31, 2021USD ($)tranche	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)
Debt Instrument
Proceeds from long-term debt		$ 7,900,000	$ 262,400,000	$ 155,000,000
Senior Notes | Unsecured revolving credit facility
Debt Instrument
Number of tranches (tranche) | tranche	2	2
Senior Notes | 2.50% fixed rate unsecured senior notes maturing 2031
Debt Instrument
Proceeds from long-term debt	$ 100,000,000
Debt instrument, term	10 years
Debt instrument interest rate (percent)	2.50%	2.50%
Senior Notes | 2.12% fixed rate unsecured senior notes maturing 2028
Debt Instrument
Proceeds from long-term debt	$ 50,000,000
Debt instrument, term	7 years
Debt instrument interest rate (percent)	2.12%	2.12%
Line of credit
Debt Instrument
Borrowing capacity	$ 336,600,000	$ 336,600,000	$ 418,400,000
Unsecured revolving credit facility
Debt Instrument
Long-term remaining borrowing capacity	417,300,000	417,300,000
Unsecured revolving credit facility | 1.29 % Variable rate unsecured credit facility maturing 2026
Debt Instrument
Borrowing capacity	$ 500,000,000	500,000,000
Unsecured revolving credit facility | Minimum
Debt Instrument
Commitment fee (percent)	0.08%
Unsecured revolving credit facility | Maximum
Debt Instrument
Commitment fee (percent)	0.25%
Multi-currency revolving credit facility | Line of credit
Debt Instrument
Additional borrowing capacity on line of credit under certain conditions	$ 250,000,000	$ 250,000,000

Long-Term Debt (Future Maturiti

Long-Term Debt (Future Maturities of Long Term Debt) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Maturities of Long-term Debt
2022	$ 0
2023	0
2024	134.1
2025	120.1
2026	84.1
Thereafter	125
Total future maturities payments	463.3
Less debt issuance costs, net	2.3	$ 1.9
Subtotal	$ 461	$ 623.1

Income Taxes (Components of Ear

Income Taxes (Components of Earnings Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Earnings before income taxes:
U.S.	$ 114.1	$ 112.8	$ 127.4
Foreign	266.9	222.4	247.8
Earnings before income taxes	$ 381	$ 335.2	$ 375.2

Income Taxes (Components of The

Income Taxes (Components of The Provision for Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Current
Federal	$ 13.2	$ 9.7	$ 21.3
State	3.9	3.1	4
Foreign	82.9	62.7	72.5
Income tax provision (benefit), current	100	75.5	97.8
Deferred
Federal	(1.9)	4.1	7.4
State	(0.2)	0.2	1.4
Foreign	(3.8)	(1.6)	1.4
Income tax provision (benefit), deferred	(5.9)	2.7	10.2
Total provision for income taxes	$ 94.1	$ 78.2	$ 108

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation of U.S. Statutory Income Tax Rate With Effective Income Tax Rate) (Details)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Statutory U.S. federal rate (percentage)	21.00%	21.00%	21.00%
State income taxes (percentage)	0.80%	0.90%	1.30%
Foreign operations (percentage)	4.40%	3.50%	4.70%
Global Intangible Low Tax Income (GILTI) (percentage)	0.60%	0.20%	1.30%
Foreign Derived Intangible Income (FDII) (percentage)	(0.70%)	(1.40%)	(1.40%)
Export, manufacturing and research credits (percentage)	(0.70%)	(0.70%)	(0.80%)
Change in unrecognized tax benefits (percentage)	0.20%	0.60%	(0.80%)
Tax benefits on stock-based compensation (percentage)	(1.00%)	(1.20%)	(1.60%)
Impact of U.S. Tax Cuts and Jobs Act (percentage)	0.00%	0.00%	5.00%
Other (percentage)	0.10%	0.40%	0.10%
Effective income tax rate (percentage)	24.70%	23.30%	28.80%

Income Taxes (Schedule of Tempo

Income Taxes (Schedule of Temporary Differences That Give Rise to Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Deferred tax assets
Accrued expenses	$ 12.8	$ 9.9
Compensation and retirement plans	28.3	31.8
Net operating loss (NOL) and tax credit carryforwards	7.9	8.1
Inventory reserves	2.6	3.4
Operating lease assets	12.7	18.8
Other	7.7	4.2
Gross deferred tax assets	72	76.2
Valuation allowance	(4.6)	(8.1)	$ (4.4)	$ (6.2)
Deferred tax assets, net of valuation allowance	67.4	68.1
Deferred tax liabilities
Depreciation and amortization	(57)	(47.4)
Operating lease liabilities	(12.7)	(18.8)
Other	(3.5)	(1.8)
Deferred tax liabilities	(73.2)	(68)
Net deferred tax (liability) asset	$ (5.8)
Net deferred tax (liability) asset		$ 0.1

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Income Tax Contingency
Operating losses and tax credit carryforward valuation allowance	$ 4.6
Undistributed earnings	1,300
Undistributed earnings not considered reinvested	1,000
Undistributed earnings tax charge	8.8
Undistributed earnings considered reinvested	255
Transition tax not due within 12 months	60.1
Interest expense recognized	0.4
Gross accrued interest and penalties	1.6	$ 2.2
Unrecognized tax benefits	4.9
Domestic Tax Authority
Income Tax Contingency
Operating losses and tax credit carryforward amount	$ 4.7
Operating losses and tax credit carryforward expiration period	10 years
State and Local Jurisdiction
Income Tax Contingency
Operating losses and tax credit carryforward amount	$ 2.5
State and Local Jurisdiction | Minimum
Income Tax Contingency
Operating losses and tax credit carryforward expiration period	1 year
State and Local Jurisdiction | Maximum
Income Tax Contingency
Operating losses and tax credit carryforward expiration period	20 years
Foreign Tax Authority
Income Tax Contingency
Operating losses and tax credit carryforward amount	$ 0.7
Foreign Tax Authority | Minimum
Income Tax Contingency
Operating losses and tax credit carryforward expiration period	12 years

Income Taxes (NOL and Tax Credi

Income Taxes (NOL and Tax Credit Valuation Allowances) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Valuation Allowance, Deferred Tax Asset
Balance as of beginning of year	$ (8.1)	$ (4.4)	$ (6.2)
Additions charged to costs and expenses	(0.8)	(3.7)	(0.2)
Deductions from reserves	4.3	0	2
Balance as of end of year	$ (4.6)	$ (8.1)	$ (4.4)

Income Taxes (Schedule of Rec_2

Income Taxes (Schedule of Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Reconciliation of the Beginning and Ending Amounts of Gross Unrecognized Tax Benefits
Balance as of beginning of year	$ 16.9	$ 15.5	$ 18.5
Additions for tax positions of the current year	4.7	2.8	2.5
Additions for tax positions of prior years	2.7	0.2	0.7
Reductions for tax positions of prior years	(1)	(0.1)	(4.9)
Reductions due to lapse of applicable statute of limitations	(4.6)	(1.5)	(1.3)
Balance as of end of year	$ 18.7	$ 16.9	$ 15.5

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating lease cost	$ 25.6	$ 30.1
Short-term lease cost	2.4	2.4
Total lease costs	$ 28	$ 32.5

Leases (Supplemental Informatio

Leases (Supplemental Information) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Right-of-use lease assets	$ 51.2	$ 73.7
Current lease liabilities	18.1	25.7
Long-term lease liabilities	$ 33.7	$ 48.1
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Weighted average remaining lease term (years)	4 years 7 months 6 days	4 years 9 months 18 days
Weighted average discount rates (percentage)	3.26%	3.50%

Leases (Maturities) (Details)

Leases (Maturities) (Details) $ in Millions	Jul. 31, 2021USD ($)
Lessee, Operating Lease, Liability, Payment, Due
2022	$ 18.9
2023	12.3
2024	7.3
2025	4.3
2026	3.8
Thereafter	7.7
Total future lease payments	54.3
Less imputed interest	3.1
Present value of future lease payments	$ 51.2

Earnings Per Share (Information

Earnings Per Share (Information Necessary to Calculate Basic and Diluted Net Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Earnings Per Share [Abstract]
Net earnings	$ 286.9	$ 257	$ 267.2
Weighted average common shares outstanding
Weighted average common shares – basic (in shares)	126.4	126.9	128.3
Dilutive impact of share-based awards (in shares)	1.8	1.4	2
Weighted average common shares – diluted (in shares)	128.2	128.3	130.3
Net earnings per share – basic (in dollars per share)	$ 2.27	$ 2.03	$ 2.08
Net earnings per share – diluted (in dollars per share)	$ 2.24	$ 2	$ 2.05
Stock options excluded from net earnings per share (in shares)	0.8	1.7	0.8

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 30, 2021	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Class of Stock
Number of shares authorized to be repurchased (in shares)		13,000,000
Purchase of treasury stock		$ 142.2	$ 94.3	$ 129.2
Remaining number of shares authorized to be repurchased (in shares)		8,300,000
Dividends paid per share (in dollars per share)		$ 0.850	$ 0.840
Cash dividend declared per common share (in dollars per share)	$ 0.220	$ 0.86	$ 0.84	$ 0.80
Treasury Stock
Class of Stock
Stock repurchases (in shares)		2,416,741	2,030,545

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Treasury Stock) (Details) - shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Schedule of Treasury Shares Activity
Beginning balance (in shares)	25,304,515
Net issuance upon exercise of stock options (in shares)	(1,030,938)	(845,086)	(1,103,054)
Ending balance (in shares)	26,620,560	25,304,515
Treasury Stock
Schedule of Treasury Shares Activity
Beginning balance (in shares)	25,304,515	24,324,483
Stock repurchases (in shares)	2,416,741	2,030,545
Net issuance upon exercise of stock options (in shares)	(1,004,298)	(833,168)
Issuance under compensation plans (in shares)	(82,998)	(198,120)
Other activity (in shares)	(13,400)	(19,225)
Ending balance (in shares)	26,620,560	25,304,515	24,324,483

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
AOCI Rollforward
Beginning Balance	$ 992.9	$ 892.7	$ 857.8
Other comprehensive income before reclassifications and tax	67.8	2.5
Tax benefit (expense)	(9.5)	4.1
Other comprehensive income before reclassifications, net of tax	58.3	6.6
Reclassifications, before tax	9.8	3.5
Tax expense	(2.3)	(1.2)
Reclassifications, net of tax	7.5	2.3
Net other comprehensive income (loss)	65.8	8.9	(43.1)
Ending Balance	1,137.1	992.9	892.7
Settlement charge	2.8
Accumulated other comprehensive loss	118.2	184
Pension settlement charge		3.1
Adjustments
AOCI Rollforward
Accumulated other comprehensive loss	(36.8)	16.8
Total
AOCI Rollforward
Beginning Balance	(184)	(192.9)	(149.8)
Ending Balance	(118.2)	(184)	(192.9)
Foreign Currency Translation Adjustment
AOCI Rollforward
Beginning Balance	(74)	(92.7)
Other comprehensive income before reclassifications and tax	30	18.7
Tax benefit (expense)	0	0
Other comprehensive income before reclassifications, net of tax	30	18.7
Reclassifications, before tax	0	0
Tax expense	0	0
Reclassifications, net of tax	0	0
Net other comprehensive income (loss)	30	18.7
Ending Balance	(44)	(74)	(92.7)
Pension Benefits
AOCI Rollforward
Beginning Balance	(110)	(99)
Other comprehensive income before reclassifications and tax	36.8	(16.8)
Tax benefit (expense)	(9.3)	4.1
Other comprehensive income before reclassifications, net of tax	27.5	(12.7)
Reclassifications, before tax	10	2.5
Tax expense	(2.2)	(0.8)
Reclassifications, net of tax	7.8	1.7
Net other comprehensive income (loss)	35.3	(11)
Ending Balance	(74.7)	(110)	(99)
Derivative Financial Instruments
AOCI Rollforward
Beginning Balance	0	(1.2)
Other comprehensive income before reclassifications and tax	1	0.6
Tax benefit (expense)	(0.2)	0
Other comprehensive income before reclassifications, net of tax	0.8	0.6
Reclassifications, before tax	(0.2)	1
Tax expense	(0.1)	(0.4)
Reclassifications, net of tax	(0.3)	0.6
Net other comprehensive income (loss)	0.5	1.2
Ending Balance	$ 0.5	$ 0	$ (1.2)

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Stock options, weighted average grant date fair value (in dollars per share)	$ 10.23	$ 10.93	$ 12.27
Intrinsic value of stock options exercised	$ 22.6	$ 18.3	$ 30.3
Intrinsic value of shares outstanding	142.7
Intrinsic value of shares exercisable	$ 112.8
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Stock options exercisable term (in years)	10 years
Stock option, award vesting period (in years)	3 years
Pre-tax compensation expense associated with stock options	$ 10.8	10.4	9.8
Shares reserved for outstanding options and future grants (in shares)	10,361,676
Total unrecognized compensation expense related to non-vested stock options	$ 6.1
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award
Total unrecognized compensation expense related to non-vested stock options	$ 6.6
Performance shares | 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Performance awards measurement period (in years)	3 years
Performance award expense	$ 1.9	$ 3.4	$ 3.8
Performance shares | 2019 Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Target payout percentage (percent)	0.00%
Performance shares | 2019 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Target payout percentage (percent)	200.00%

Stock-Based Compensation (Weigh

Stock-Based Compensation (Weighted Average Assumptions for Recognized Fair Value of Stock-Based Employee Compensation Cost) (Details)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Risk free rate, min	0.50%	0.80%	2.10%
Risk free rate, max	1.30%	1.90%	3.10%
Expected volatility, min	25.40%	21.00%	16.00%
Expected volatility, max	26.60%	23.70%	21.50%
Expected dividend yield	1.60%	1.60%	1.60%
Director and officer grants
Share-based Compensation Arrangement by Share-based Payment Award
Expected life, reload grants (in years)	8 years	8 years	8 years
Non-officer grants
Share-based Compensation Arrangement by Share-based Payment Award
Expected life, reload grants (in years)	7 years	7 years	7 years

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity) (Details) - $ / shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Options Outstanding
Beginning Balance (in shares)	6,533,979	6,531,250	6,785,812
Granted (in shares)	1,004,631	944,094	908,925
Exercised (in shares)	(1,030,938)	(845,086)	(1,103,054)
Canceled (in shares)	(62,929)	(96,279)	(60,433)
Ending Balance (in shares)	6,444,743	6,533,979	6,531,250
Weighted Average Exercise Price
Beginning Balance (in dollars per share)	$ 42.44	$ 39.66	$ 34.93
Granted (in dollars per share)	46.61	51.94	58.02
Exercised (in dollars per share)	36	30.35	25.07
Canceled (in dollars per share)	49.95	52.72	50.57
Ending Balance (in dollars per share)	$ 44.05	$ 42.44	$ 39.66

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Information Concerning Outstanding and Exercisable Options) (Details) - $ / shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Number outstanding (in shares)	6,444,743	6,533,979	6,531,250	6,785,812
Weighted average remaining contractual life (in years)	5 years 8 months 12 days
Weighted average exercise price (in dollars per share)	$ 44.05
Number exercisable (in shares)	4,599,853
Weighted Average Remaining Contractual Life (Years)	4 years 7 months 6 days
Weighted average exercise price (in dollars per share)	$ 41.66
$28.00 to $32.49
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Stock options, exercise price range, lower range limit (in dollars per share)	28
Share options, exercise price range, upper range limit (in dollars per share)	$ 32.49
Number outstanding (in shares)	701,597
Weighted average remaining contractual life (in years)	4 years 4 months 24 days
Weighted average exercise price (in dollars per share)	$ 28.22
Number exercisable (in shares)	701,597
Weighted Average Remaining Contractual Life (Years)	4 years 4 months 24 days
Weighted average exercise price (in dollars per share)	$ 28.22
$32.50 to $37.49
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Stock options, exercise price range, lower range limit (in dollars per share)	32.50
Share options, exercise price range, upper range limit (in dollars per share)	$ 37.49
Number outstanding (in shares)	564,098
Weighted average remaining contractual life (in years)	1 year 6 months
Weighted average exercise price (in dollars per share)	$ 34.37
Number exercisable (in shares)	564,098
Weighted Average Remaining Contractual Life (Years)	1 year 6 months
Weighted average exercise price (in dollars per share)	$ 34.37
$37.50 to $42.49
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Stock options, exercise price range, lower range limit (in dollars per share)	37.50
Share options, exercise price range, upper range limit (in dollars per share)	$ 42.49
Number outstanding (in shares)	1,133,867
Weighted average remaining contractual life (in years)	3 years 2 months 12 days
Weighted average exercise price (in dollars per share)	$ 40.29
Number exercisable (in shares)	1,133,867
Weighted Average Remaining Contractual Life (Years)	3 years 2 months 12 days
Weighted average exercise price (in dollars per share)	$ 40.29
$42.50 to $47.49
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Stock options, exercise price range, lower range limit (in dollars per share)	42.50
Share options, exercise price range, upper range limit (in dollars per share)	$ 47.49
Number outstanding (in shares)	2,294,336
Weighted average remaining contractual life (in years)	7 years
Weighted average exercise price (in dollars per share)	$ 44.80
Number exercisable (in shares)	1,354,933
Weighted Average Remaining Contractual Life (Years)	5 years 6 months
Weighted average exercise price (in dollars per share)	$ 43.97
$47.50 and above
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Stock options, exercise price range, lower range limit (in dollars per share)	$ 47.50
Number outstanding (in shares)	1,750,845
Weighted average remaining contractual life (in years)	7 years 8 months 12 days
Weighted average exercise price (in dollars per share)	$ 54.96
Number exercisable (in shares)	845,358
Weighted Average Remaining Contractual Life (Years)	7 years 4 months 24 days
Weighted average exercise price (in dollars per share)	$ 55.82

Stock-Based Compensation (Statu

Stock-Based Compensation (Status for Options Which Contain Vesting Provisions) (Details) - $ / shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Options
Balance as of beginning of year (in shares)	1,744,931
Granted (in shares)	1,004,631
Vested (in shares)	(849,496)
Cancelled (in shares)	(55,176)
Balance as of ending of year (in shares)	1,844,890	1,744,931
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 11.18
Granted (in dollars per share)	10.23	$ 10.93	$ 12.27
Vested (in dollars per share)	10.94
Canceled (in dollars per share)	10.65
Ending balance (in dollars per share)	$ 10.79	$ 11.18

Stock-Based Compensation (Sta_2

Stock-Based Compensation (Status for Performance-Based Awards Which Contain Vesting Provisions) (Details) - Performance shares - $ / shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Performance Shares
Beginning Balance (in shares)	198,200
Granted (in shares)	106,100
Vested (in shares)	(95,133)
Canceled/forfeited (in shares)	(8,600)
Ending Balance (in shares)	200,567	198,200
Weighted Average Grant Date Fair Value
Beginning Balance (in dollars per share)	$ 54.93
Granted (in dollars per share)	46.06	$ 51.61	$ 58.35
Vested (in dollars per share)	58.35
Canceled (in dollars per share)	51.56
Ending Balance (in dollars per share)	$ 48.76	$ 54.93

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) $ in Millions	12 Months Ended
	Jul. 31, 2022USD ($)	Jul. 31, 2021USD ($)plan	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)
Defined Benefit Plan Disclosure
Deferred compensation arrangement with individual, maximum future deferred receipts allowed (percent)		75.00%
Deferred compensation arrangement with individual, recorded liability		$ 3.3	$ 4.1
U.S. Plan
Defined Benefit Plan Disclosure
Number of U.S. pension plan types | plan		2
Pension Plan
Defined Benefit Plan Disclosure
Net overfunded (underfunded)		$ 11.4	(35)
Unrealized losses recognized		119.1	166.1
Loss anticipated to be recognized in net periodic pension expense		5.3	7.2	$ 3.8
Accumulated benefit obligation		556.5	561.9
Projected benefit obligation for pension plans with projected benefit obligations in excess of plan assets		83.6	220.4
Fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets		57.4	179.3
Projected benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets		13.8	158
Accumulated benefit obligation for plans with projected benefit obligations in excess of plan assets		13.8	156.2
Fair value of plan assets for plans with projected benefit obligations in excess of plan assets		3.1	133.1
Cash and credit contributions		6.4
Company contributions		$ 3.1	3
Pension Plan | Fixed income securities | Level 3 | Independent Insurance Company | Minimum
Defined Benefit Plan Disclosure
Pension plan target allocation percentage		80.00%
Pension Plan | Fixed income securities | Level 3 | Independent Insurance Company | Maximum
Defined Benefit Plan Disclosure
Pension plan target allocation percentage		90.00%
Pension Plan | Global equity securities | Level 3 | Independent Insurance Company | Minimum
Defined Benefit Plan Disclosure
Pension plan target allocation percentage		10.00%
Pension Plan | Global equity securities | Level 3 | Independent Insurance Company | Maximum
Defined Benefit Plan Disclosure
Pension plan target allocation percentage		20.00%
Pension Plan | Subsequent Event | Scenario, Forecast
Defined Benefit Plan Disclosure
Loss anticipated to be recognized in net periodic pension expense	$ 7.4
Retirement Savings and Employee Stock Ownership Plan | U.S. Plan
Defined Benefit Plan Disclosure
Company contributions		$ 25.2	$ 22	$ 23.5
Contributory employee saving plan, employee contribution threshold limit from compensation, maximum (percent)		50.00%
Contributory employee saving plan, percentage match of participants, first contributions (percent)		100.00%
Contributory employee saving plan, percentage of participants, first eligible compensation (percent)		3.00%
Contributory employee saving plan, percentage match of participants, second contributions (percent)		50.00%
Contributory employee saving plan, percentage of participants, second eligible compensation (percent)		2.00%
Defined contribution plan, annual retirement contributions (percent)		3.00%

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Net periodic benefit cost
Settlement charge		$ (3.1)
Pension Plan
Net periodic benefit cost
Service cost	$ 7.5	9.5	$ 6
Interest cost	10.2	13.5	16.4
Expected return on assets	(23.7)	(26.1)	(26.5)
Prior service cost and transition amortization	0.3	0.7	0.6
Actuarial loss amortization	8.2	6.5	4.4
Settlement charge	2	3.1	2.9
Curtailment charge	0.8	0	0
Net periodic benefit costs	5.3	7.2	3.8
Other changes recognized in other comprehensive income (loss):
Net actuarial gain (loss)	35.9	(25.2)	(29)
Amortization of asset obligations	0	0.2	0.2
Amortization of prior service cost	1.2	0.6	0.4
Amortization of net actuarial loss	10.2	9.5	7.3
Total recognized in other comprehensive income (loss)	47.3	(14.9)	(21.1)
Total recognized in net periodic benefit costs and other comprehensive income (loss)	$ 42	$ (22.1)	$ (24.9)

Employee Benefit Plans (Obligat

Employee Benefit Plans (Obligations and Funded Status of Company's Pension Plans) (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Change in projected benefit obligation
Projected benefit obligation, beginning of year	$ 585.6	$ 520.4
Service cost	7.5	9.5	$ 6
Interest cost	10.2	13.5	16.4
Participant contributions	0.8	0.8
Actuarial (gain) loss	(5.7)	55.2
Currency exchange rates	8.4	12.8
Settlements paid	(10.7)	(10.7)
Benefits paid	(16.2)	(15.9)
Projected benefit obligation, end of year	579.9	585.6	520.4
Change in fair value of plan assets
Fair value of plan assets, beginning of year	550.6	502.2
Actual return on plan assets	55.6	59.1
Company contributions	3.1	3
Participant contributions	0.8	0.8
Currency exchange rates	8.1	12.1
Settlements paid	(10.7)	(10.7)
Benefits paid	(16.2)	(15.9)
Fair value of plan assets, end of year	591.3	550.6	$ 502.2
Defined Benefit Plan, Funded (Unfunded) Status of Plan
Funded status of plans, end of year	11.4	(35)
Amounts recognized on the Consolidated Balance Sheets
Other long-term assets	37.5	6.2
Other current liabilities	(1.3)	(1.5)
Other long-term liabilities	(24.8)	(39.7)
Net recognized asset (liability)	$ 11.4	$ (35)

Employee Benefit Plans (Weighte

Employee Benefit Plans (Weighted-Average Discount Rates in Determining Actuarial Present Value of Projected Benefit Obligation) (Details) - Pension Plan	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
U.S. Plan
Defined Benefit Plan Disclosure
Discount rate (percent)	2.55%	2.37%
Expected rate of return on plan assets	5.33%	6.08%	6.25%
Non - U.S. Plan
Defined Benefit Plan Disclosure
Discount rate (percent)	1.55%	1.48%
Expected rate of return on plan assets	3.13%	3.78%	4.08%
Rate of compensation increase (percent)	2.86%	2.88%

Employee Benefit Plans (Assumpt

Employee Benefit Plans (Assumptions Used to Determine Net Periodic Benefit Cost) (Details) - Pension Plan	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
U.S. Plan
Defined Benefit Plan Disclosure
Discount rate	2.37%	3.55%	4.43%
Expected rate of return on plan assets	5.33%	6.08%	6.25%
Non - U.S. Plan
Defined Benefit Plan Disclosure
Discount rate	1.52%	1.85%	2.43%
Expected rate of return on plan assets	3.13%	3.78%	4.08%
Rate of compensation increase	2.86%	2.72%	2.69%

Employee Benefit Plans (Fair Va

Employee Benefit Plans (Fair Value of Assets Held) (Details) - Pension Plan - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	$ 591.3	$ 550.6	$ 502.2
U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	517.8	480.3
Assets including NAV assets	591.3	550.6
Level 1 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	320.7	289.1
Level 2 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	159.4	155.8
Level 3
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	37.7	35.4	$ 30.8	$ 28.6
Level 3 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	37.7	35.4
Investments using NAV per share as practical expedient | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets		70.3
Cash and cash equivalents | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	3.2	10.1
Cash and cash equivalents | Level 1 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	2.2	6.8
Cash and cash equivalents | Level 2 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	1	3.3
Cash and cash equivalents | Level 3 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	0	0
Global equity securities | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	184.1	170.9
Global equity securities | Level 1 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	184.1	170.9
Global equity securities | Level 2 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	0	0
Global equity securities | Level 3 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	0	0
Fixed income securities | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	292.8	222.2
Fixed income securities | Level 1 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	134.4	111.4
Fixed income securities | Level 2 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	158.4	110.8
Fixed income securities | Level 3 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	0	0
Investment funds | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets		41.7
Investment funds | Level 1 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets		0
Investment funds | Level 2 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets		41.7
Investment funds | Level 3 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets		0
Insurance contracts | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	37.7	35.4
Insurance contracts | Level 1 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	0	0
Insurance contracts | Level 2 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	0	0
Insurance contracts | Level 3 | U.S. Plan
Defined Benefit Plan Disclosure
Defined benefit plan, fair value of plan assets	$ 37.7	$ 35.4

Employee Benefit Plans (Unfunde

Employee Benefit Plans (Unfunded Commitments and Redemption Restrictions) (Details) - Pension Plan - U.S. Plan - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Unfunded Commitments	$ 6.1	$ 6.1
NAV
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
NAV	73.5	70.3
Global equity securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Unfunded Commitments	1.8	1.8
Global equity securities | NAV
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
NAV	$ 50.7	49.5
Global equity securities | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Redemption Notice (Days)	10 days
Global equity securities | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Redemption Notice (Days)	90 days
Fixed income securities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Unfunded Commitments	$ 0	0
Fixed income securities | NAV
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
NAV	$ 20.4	0
Fixed income securities | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Redemption Notice (Days)	60 days
Fixed income securities | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Redemption Notice (Days)	90 days
Private equity and other funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Unfunded Commitments	$ 0	0
Private equity and other funds | NAV
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
NAV	$ 0	17.8
Private equity and other funds | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Redemption Notice (Days)	60 days
Private equity and other funds | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Redemption Notice (Days)	90 days
Real asset funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
Unfunded Commitments	$ 4.3	4.3
Real asset funds | NAV
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share
NAV	$ 2.4	$ 3

Employee Benefit Plans (Changes

Employee Benefit Plans (Changes in Fair Value of U.S. Pension Plans' Level 3 Assets) (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Change in fair value of plan assets
Fair value of plan assets, beginning of year	$ 550.6	$ 502.2
Fair value of plan assets, end of year	591.3	550.6	$ 502.2
Level 3
Change in fair value of plan assets
Fair value of plan assets, beginning of year	35.4	30.8	28.6
Unrealized gains	3.6	4.1	3.5
Foreign currency exchange	0.1	2.1	(1.5)
Purchases	0.6	0.5	0.5
Sales	(2)	(2.1)	(0.3)
Fair value of plan assets, end of year	$ 37.7	$ 35.4	$ 30.8

Employee Benefit Plans (Pension

Employee Benefit Plans (Pension Plan Target Allocation) (Details) - Pension Plan	Jul. 31, 2021
Salaried Pension Plan
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	100.00%
Salaried Pension Plan | Global equities
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	33.00%
Salaried Pension Plan | Fixed income securities
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	65.00%
Salaried Pension Plan | Real assets
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	1.00%
Salaried Pension Plan | Cash and cash equivalents
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	1.00%
Hourly Pension Plan
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	100.00%
Hourly Pension Plan | Global equities
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	29.00%
Hourly Pension Plan | Fixed income securities
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	70.00%
Hourly Pension Plan | Real assets
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	0.00%
Hourly Pension Plan | Cash and cash equivalents
Defined Benefit Plan Disclosure
Pension plan target allocation percentage	1.00%

Employee Benefit Plans (Estimat

Employee Benefit Plans (Estimated Future Benefit Payments for U.S. and Non U.S. Plans) (Details) $ in Millions	Jul. 31, 2021USD ($)
Defined Benefit Plan, Expected Future Benefit Payment
2022	$ 30.7
2023	26.1
2024	28.1
2025	30.1
2026	28.3
2027-2031	$ 145.4

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2021	Jul. 31, 2020
Cash Flow Hedging
Debt Instrument
Realized gains	$ 2,600,000
Forward foreign currency exchange contracts
Debt Instrument
Derivative instrument term (months)		12 months
Interest Rate Swap | Cash Flow Hedging
Debt Instrument
Notional amount	40,000,000	$ 40,000,000
Interest Rate Swap II | Cash Flow Hedging
Debt Instrument
Notional amount	25,000,000	25,000,000
Level 2
Debt Instrument
Notional amount	327,200,000	327,200,000	$ 293,000,000
Level 2 | Fair Value | Fixed Interest Rate
Debt Instrument
Debt instrument, fair value disclosure	297,400,000	297,400,000	297,300,000
Level 2 | Fair Value | Variable Interest Rate
Debt Instrument
Debt instrument, fair value disclosure	188,300,000	188,300,000	350,000,000
Level 2 | Carrying Value | Fixed Interest Rate
Debt Instrument
Debt instrument, fair value disclosure	275,000,000	275,000,000	275,000,000
Level 2 | Carrying Value | Variable Interest Rate
Debt Instrument
Debt instrument, fair value disclosure	188,300,000	188,300,000	350,000,000
Level 3 | Carrying Value | Fair Value, Nonrecurring
Debt Instrument
Equity method investments	$ 24,200,000	$ 24,200,000	$ 21,700,000

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Outstanding Derivatives in Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	$ 327.2	$ 293
Derivative assets	2.6	3.3
Derivative liabilities	3.6	1.4
Designated as Hedging Instrument | Forward foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative asset, purchases	73	45.2
Derivative asset, sales	44.2	22.9
Derivative asset, net settlements	28.8	22.3
Designated as Hedging Instrument | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	173	123.9
Derivative assets	2.1	1.3
Derivative liabilities	3.2	0.6
Designated as Hedging Instrument | Level 2 | Net investment hedge
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	55.8	55.8
Derivative assets	1.1	1.2
Derivative liabilities	2	0
Designated as Hedging Instrument | Level 2 | Forward foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	117.2	68.1
Derivative assets	1	0.1
Derivative liabilities	1.2	0.6
Not Designated as Hedging Instrument | Forward foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	154.2
Derivative asset, purchases	76.1	82.9
Derivative asset, sales	78.1	86.2
Derivative asset, net settlements	(2)	(3.2)
Not Designated as Hedging Instrument | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	154.2	169.1
Derivative assets	0.5	2
Derivative liabilities	0.4	0.8
Not Designated as Hedging Instrument | Level 2 | Forward foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notional amount	154.2	169.1
Derivative assets	0.5	2
Derivative liabilities	$ 0.4	$ 0.8

Guarantees (Balance Sheet) (Det

Guarantees (Balance Sheet) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Guarantor Obligations
Contingent liability for standby letters of credit issued under the Company’s revolving credit facility	$ 7.7	$ 7.5
Amounts drawn for letters of credit under the Company’s revolving credit facility	0	0
Advanced Filtration Systems Inc.
Guarantor Obligations
Outstanding debt of AFSI (the Company guarantees half)	$ 37.8	$ 40

Guarantees (Income Statement) (

Guarantees (Income Statement) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Guarantor Obligations
Investment earnings from AFSI	$ 4.2	$ 5.2	$ 2.2
Advanced Filtration Systems Inc.
Guarantor Obligations
Investment earnings from AFSI	1.8	2.2	(0.3)
Royalty | Advanced Filtration Systems Inc.
Guarantor Obligations
Royalty income from AFSI	$ 6.9	$ 6.8	$ 6.5

Commitment and Contingencies (N

Commitment and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Accrued warranty reserves	$ 6.1	$ 9.5

Segment Reporting (Summary of S

Segment Reporting (Summary of Segment Detail) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information
Net sales	$ 2,853.9	$ 2,581.8	$ 2,844.9
Equity earnings in unconsolidated affiliates	4.2	5.2	2.2
Earnings (loss) before income taxes	381	335.2	375.2
Equity investments in unconsolidated affiliates	24.2	21.7	23
Operating Segments | Engine Products Segment
Segment Reporting Information
Net sales	1,957.7	1,727.5	1,926
Equity earnings in unconsolidated affiliates	4.2	4.7	2.1
Earnings (loss) before income taxes	289	229.3	254.6
Equity investments in unconsolidated affiliates	24.2	21.7	19
Operating Segments | Industrial Products Segment
Segment Reporting Information
Net sales	896.2	854.3	918.9
Equity earnings in unconsolidated affiliates	0	0.5	0.1
Earnings (loss) before income taxes	133.3	124.9	140.1
Equity investments in unconsolidated affiliates	0	0	4
Corporate and Unallocated
Segment Reporting Information
Net sales	0	0	0
Equity earnings in unconsolidated affiliates	0	0	0
Earnings (loss) before income taxes	(41.3)	(19)	(19.5)
Equity investments in unconsolidated affiliates	$ 0	$ 0	$ 0

Segment Reporting (Net Sales by

Segment Reporting (Net Sales by Product Within Engine Products Segment and Industrial Products Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information
Net sales	$ 2,853.9	$ 2,581.8	$ 2,844.9
Engine Products Segment | Operating Segments
Segment Reporting Information
Net sales	1,957.7	1,727.5	1,926
Engine Products Segment | Off-Road | Operating Segments
Segment Reporting Information
Net sales	328.1	256.5	315.1
Engine Products Segment | On-Road | Operating Segments
Segment Reporting Information
Net sales	138.8	124.4	179.8
Engine Products Segment | Aftermarket | Operating Segments
Segment Reporting Information
Net sales	1,394.6	1,228.9	1,315.3
Engine Products Segment | Aerospace and Defense | Operating Segments
Segment Reporting Information
Net sales	96.2	117.7	115.8
Industrial Products Segment | Operating Segments
Segment Reporting Information
Net sales	896.2	854.3	918.9
Industrial Products Segment | Industrial Filtration Solutions | Operating Segments
Segment Reporting Information
Net sales	621.9	581.2	641.8
Industrial Products Segment | Gas Turbine Systems | Operating Segments
Segment Reporting Information
Net sales	96.2	101.6	106.3
Industrial Products Segment | Special Applications | Operating Segments
Segment Reporting Information
Net sales	$ 178.1	$ 171.5	$ 170.8

Segment Reporting (Geographic S

Segment Reporting (Geographic Sales by Origination and Property, Plant and Equipment) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information
Net sales	$ 2,853.9	$ 2,581.8	$ 2,844.9
Property, plant and equipment, net	617.8	631.6	588.9
U.S. and Canada
Segment Reporting Information
Net sales	1,084.2	1,059.9	1,192.6
Property, plant and equipment, net	214	229	231
EMEA
Segment Reporting Information
Net sales	865.7	760.2	826.8
Property, plant and equipment, net	220.4	229.4	199.1
APAC
Segment Reporting Information
Net sales	649.2	553.2	597.9
Property, plant and equipment, net	60.4	59.8	50.2
LATAM
Segment Reporting Information
Net sales	254.8	208.5	227.6
Property, plant and equipment, net	$ 123	$ 113.4	$ 108.6

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2021	Jul. 31, 2021
Restructuring Cost and Reserve
Accrued restructuring expenses		$ 10.3
Payments for restructuring		4.5
Cost of Sales
Restructuring Cost and Reserve
Restructuring charges		5.8
Cost of Sales | Corporate, Non-Segment
Restructuring Cost and Reserve
Restructuring charges		5.8
Operating Expense
Restructuring Cost and Reserve
Restructuring charges		9
Operating Expense | Engine Products Segment
Restructuring Cost and Reserve
Restructuring charges		2.5
Operating Expense | Industrial Products Segment
Restructuring Cost and Reserve
Restructuring charges		$ 6.5
Employee Severance
Restructuring Cost and Reserve
Restructuring charges	$ 14.8