Oil-Dri Corporation of America (ODC) 10-Q 8 Jun 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Apr. 30, 2020shares
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-12622
Entity Registrant Name	OIL-DRI CORPORATION OF AMERICA
Entity Central Index Key	0000074046
Current Fiscal Year End Date	--07-31
Document Period End Date	Apr. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2048898
Entity Address, Address Line One	410 North Michigan Avenue
Entity Address, Address Line Two	Suite 400
Entity Address, Postal Zip Code	60611-4213
Entity Address, State or Province	IL
Entity Address, City or Town	Chicago
City Area Code	312
Local Phone Number	321-1515
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	ODC
Security Exchange Name	NYSE
Common Stock
Entity Information
Entity Common Stock, Shares Outstanding	5,307,384
Common Class B
Entity Information
Entity Common Stock, Shares Outstanding	2,176,142

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Current Assets
Cash and cash equivalents	$ 20,548	$ 21,862
Accounts receivable, less allowance of $1,324 and $644 at April 30, 2020 and July 31, 2019, respectively	41,846	35,459
Inventories	24,096	24,163
Prepaid repairs expense	5,163	4,708
Prepaid repairs expense	2,460	3,084
Total Current Assets	94,113	89,276
Property, Plant and Equipment
Cost	257,123	249,834
Less accumulated depreciation and amortization	(166,990)	(159,036)
Total Property, Plant and Equipment, Net	90,133	90,798
Other Assets
Goodwill	9,262	9,262
Other intangibles, net of accumulated amortization of $415 and $299 at April 30, 2020 and July 31, 2019, respectively	1,551	1,599
Customer list, net of accumulated amortization of $6,739 and $6,297 at April 30, 2020 and July 31, 2019, respectively	1,046	1,488
Deferred Income Tax Assets, Net	6,397	7,755
Operating lease right-of-use assets	8,327	0
Other	5,152	5,049
Total Other Assets	31,735	25,153
Total Assets	215,981	205,227
Current Liabilities
Current maturities of notes payable, net of unamortized debt issuance costs of $10 at April 30, 2020	3,074	3,083
Accounts Payable, Current	10,524	8,092
Dividends payable	1,735	1,761
Operating lease liabilities	1,561	0
Accrued expenses:
Salaries, wages and commissions	10,559	6,740
Trade promotions and advertising	1,853	1,588
Freight	2,216	2,635
Other	9,425	8,707
Total Current Liabilities	40,947	32,606
Noncurrent Liabilities
Notes payable, net of unamortized debt issuance costs of $31 at July 31, 2019	0	3,052
Deferred compensation	4,847	6,014
Pension and postretirement benefits	12,565	23,721
Long-term operating lease liabilities	8,285	0
Other	2,682	4,288
Total Noncurrent Liabilities	28,379	37,075
Total Liabilities	69,326	69,681
Stockholders’ Equity
Additional paid-in capital	44,149	41,300
Retained earnings	172,504	164,756
Noncontrolling interest	(169)	(14)
Accumulated Other Comprehensive Loss:
Pension and postretirement benefits	(9,217)	(14,891)
Cumulative translation adjustment	(378)	(148)
Total Accumulated Other Comprehensive Loss	(9,595)	(15,039)
Less Treasury Stock, at cost (3,063,813 Common and 335,816 Class B shares at April 30, 2020 and 2,926,547 Common and 324,741 Class B shares at July 31, 2019)	(61,322)	(56,543)
Total Stockholders' Equity	146,655	135,546
Total Liabilities & Stockholders’ Equity	215,981	205,227
Common Stock
Stockholders’ Equity
Common Stock, Value, Issued	837	828
Common Class B
Stockholders’ Equity
Common Stock, Value, Issued	$ 251	$ 258

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet Parenthetical - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Current Assets
Allowance for doubtful accounts	$ 1,324	$ 644
Other Assets
Accumulated amortization of other intangibles	415	299
Accumulated amortization of customer lists	6,739	6,297
Current Liabilities
Net unamortized debt issuance costs	$ 10
Noncurrent Liabilities
Net unamortized debt issuance costs		$ 31
Common Stock
Stockholder's Equity
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued	8,371,197	8,284,199
Treasury stock, common shares	3,063,813	2,926,547
Common Class B
Stockholder's Equity
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued	2,511,958	2,576,479
Treasury stock, common shares	335,816	324,741

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Net Sales	$ 76,256	$ 70,885	$ 218,383	$ 206,908
Cost of Sales	(54,871)	(54,051)	(158,105)	(158,660)
Gross Profit	21,385	16,834	60,278	48,248
Selling, General and Administrative Expenses	(15,685)	(14,507)	(44,584)	(42,091)
Income from Operations	5,700	2,327	15,694	6,157
Other (Expense) Income
Interest expense	(108)	(141)	(314)	(434)
Interest income	48	53	238	149
Other, net	(43)	4,465	(186)	4,504
Total Other (Expense) Income, Net	(103)	4,377	(262)	4,219
Income Before Income Taxes	5,597	6,704	15,432	10,376
Income Tax Expense	(947)	(1,143)	(2,573)	(1,599)
Net Income	4,650	5,561	12,859	8,777
Net Income (Loss) Attributable to Noncontrolling Interest	2	(58)	(155)	(35)
Net Income Attributable to Oil-Dri	$ 4,648	$ 5,619	$ 13,014	$ 8,812
Net Income Per Share
Diluted Common (in dollars per share)	$ 0.61	$ 0.74	$ 1.69	$ 1.17
Average Shares Outstanding
Diluted Common (in shares)	7,288	7,253	7,310	7,245
Common Stock
Net Income Per Share
Basic Common (in dollars per share)	$ 0.66	$ 0.81	$ 1.85	$ 1.27
Average Shares Outstanding
Basic Common (in shares)	5,126	5,126	5,152	5,108
Dividends Declared Per Share (in dollars per share)	$ 0.2500	$ 0.2400	$ 0.7500	$ 0.7200
Common Class B
Net Income Per Share
Basic Common (in dollars per share)	$ 0.50	$ 0.61	$ 1.39	$ 0.95
Average Shares Outstanding
Basic Common (in shares)	2,036	2,068	2,042	2,068
Dividends Declared Per Share (in dollars per share)	$ 0.1875	$ 0.1800	$ 0.5625	$ 0.5400

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Net Income Attributable to Oil-Dri	$ 4,648	$ 5,619	$ 13,014	$ 8,812
Other Comprehensive Income:
Pension and postretirement benefits (net of tax)	126	146	5,674	437
Cumulative translation adjustment	(132)	29	(230)	(7)
Other Comprehensive Income	(6)	175	5,444	430
Total Comprehensive Income	$ 4,642	$ 5,794	$ 18,458	$ 9,242

Consolidated Statements of Stoc

Consolidated Statements of Stockholders Equity Statement - USD ($)	Total	Noncontrolling Interest	Parent	Common & Class B Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Total, Beginning of Period at Jul. 31, 2018	$ 131,885,000			$ 1,056,000	$ 38,473,000	$ 158,935,000	$ (55,946,000)	$ (10,615,000)	$ (18,000)
Common & Class B Stock, Beginning of Period (in shares) at Jul. 31, 2018				10,555,828
Treasury Stock, Beginning of Period (in shares) at Jul. 31, 2018							(3,238,833)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	8,812,000			$ 0	0	8,812,000	$ 0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(35,000)								(35,000)
Net Income, Including Portion Attributable to Noncontrolling Interest	8,777,000
Other comprehensive income	430,000			0	0	0	0	430,000	0
Dividends declared	(5,029,000)			0	0	(5,029,000)	0	0	0
Purchases of treasury stock	141,000			0	0	0	$ (141,000)	0	0
Purchases of treasury stock (in shares)							4,545
Net issuance of stock under long-term incentive plans	1,000			$ (29,000)	(420,000)	0	$ (450,000)	0	0
Net issuance of stock under long-term incentive plans (in shares)				297,600			(7,737)
Amortization of restricted stock	1,594,000			$ 0	1,594,000	0	$ 0	0	0
Total, End of Period at Apr. 30, 2019	137,515,000			$ 1,085,000	40,487,000	162,718,000	$ (56,537,000)	(10,185,000)	(53,000)
Common Stock & Class B Stock, End of Period (in shares) at Apr. 30, 2019				10,853,428
Treasury Stock, End of Period (in shares) at Apr. 30, 2019							(3,251,115)
Total, Beginning of Period at Jan. 31, 2019	132,764,000			$ 1,081,000	39,730,000	158,788,000	$ (56,480,000)	(10,360,000)	5,000
Common & Class B Stock, Beginning of Period (in shares) at Jan. 31, 2019				10,812,928
Treasury Stock, Beginning of Period (in shares) at Jan. 31, 2019							(3,249,728)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	5,619,000			$ 0	0	5,619,000	$ 0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(58,000)								(58,000)
Net Income, Including Portion Attributable to Noncontrolling Interest	5,561,000
Other comprehensive income	175,000			0	0	0	0	175,000	0
Dividends declared	1,689,000			0	0	(1,689,000)	0	0	0
Purchases of treasury stock	(6,000)			0	0	0	$ (6,000)	0	0
Purchases of treasury stock (in shares)							0
Net issuance of stock under long-term incentive plans	0			$ (4,000)	(47,000)	0	$ 51,000	0	0
Net issuance of stock under long-term incentive plans (in shares)				40,500			(1,387)
Amortization of restricted stock	710,000			$ 0	710,000	0	$ 0	0	0
Total, End of Period at Apr. 30, 2019	137,515,000			$ 1,085,000	40,487,000	162,718,000	$ (56,537,000)	(10,185,000)	(53,000)
Common Stock & Class B Stock, End of Period (in shares) at Apr. 30, 2019				10,853,428
Treasury Stock, End of Period (in shares) at Apr. 30, 2019							(3,251,115)
Total, Beginning of Period at Jul. 31, 2019	135,546,000			$ 1,086,000	41,300,000	164,756,000	$ (56,543,000)	(15,039,000)	(14,000)
Common & Class B Stock, Beginning of Period (in shares) at Jul. 31, 2019				10,860,678
Treasury Stock, Beginning of Period (in shares) at Jul. 31, 2019							(3,251,288)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	13,014,000			$ 0	0	13,014,000	$ 0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(155,000)								(155,000)
Net Income, Including Portion Attributable to Noncontrolling Interest	12,859,000
Other comprehensive income	5,444,000			0	0	0	0	5,444,000	0
Dividends declared	(5,266,000)			0	0	(5,266,000)	0	0	0
Purchases of treasury stock	4,620,000			0	0	0	$ (4,620,000)	0	0
Purchases of treasury stock (in shares)							143,391
Net issuance of stock under long-term incentive plans	(1,000)			$ (2,000)	(158,000)	0	$ 159,000	0	0
Net issuance of stock under long-term incentive plans (in shares)				22,477			(4,950)
Amortization of restricted stock	2,549,000			$ 0	2,549,000	0	$ 0	0	0
Contributions from noncontrolling interests	142,000			0	142,000	0	0	0	0
Total, End of Period at Apr. 30, 2020	146,655,000			$ 1,088,000	44,149,000	172,504,000	$ (61,322,000)	(9,595,000)	(169,000)
Common Stock & Class B Stock, End of Period (in shares) at Apr. 30, 2020				10,883,155
Treasury Stock, End of Period (in shares) at Apr. 30, 2020							(3,399,629)
Noncontrolling Interest
Amount Contributed to Purchase of Additional Interest by Parent			$ 724,000
Total, Beginning of Period at Jan. 31, 2020	146,929,000			$ 1,088,000	43,149,000	169,590,000	$ (57,138,000)	(9,589,000)	(171,000)
Common & Class B Stock, Beginning of Period (in shares) at Jan. 31, 2020				10,881,155
Treasury Stock, Beginning of Period (in shares) at Jan. 31, 2020							(3,269,059)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	4,648,000			$ 0	0	4,648,000	$ 0	0
Net Income (Loss) Attributable to Noncontrolling Interest	2,000								2,000
Net Income, Including Portion Attributable to Noncontrolling Interest	4,650,000
Other comprehensive income	(6,000)			0	0	0	0	(6,000)	0
Dividends declared	1,734,000			0	0	(1,734,000)	0	0	0
Purchases of treasury stock	(4,097,000)			0	0	0	$ (4,097,000)	0	0
Purchases of treasury stock (in shares)							127,770
Net issuance of stock under long-term incentive plans	(1,000)			$ 0	(88,000)	0	$ 87,000	0	0
Net issuance of stock under long-term incentive plans (in shares)				2,000			(2,800)
Amortization of restricted stock	770,000			$ 0	770,000	0	$ 0	0	0
Contributions from noncontrolling interests	142,000			0	142,000	0	0	0	0
Total, End of Period at Apr. 30, 2020	$ 146,655,000			$ 1,088,000	$ 44,149,000	$ 172,504,000	$ (61,322,000)	$ (9,595,000)	$ (169,000)
Common Stock & Class B Stock, End of Period (in shares) at Apr. 30, 2020				10,883,155
Treasury Stock, End of Period (in shares) at Apr. 30, 2020							(3,399,629)
Noncontrolling Interest
Noncontrolling Interest, Parent Ownership Percentage Prior to Purchase of Additional Interest			52.00%
Noncontrolling Interest, Ownership Percentage by Parent			78.40%
Noncontrolling Interest, Ownership Percentage Prior to Parent's Purchase of Additional Interest		48.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		21.60%

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 12,859	$ 8,777
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,399	9,849
Amortization of investment net discount	0	(10)
Stock-based compensation	2,549	1,590
Deferred income taxes	1,367	277
Provision for bad debts and cash discounts	704	(151)
Loss on the sale of fixed assets	102	4
Curtailment gain on SERP Plan	(1,296)	0
(Increase) Decrease in assets:
Accounts receivable	(7,296)	(2,185)
Inventories	(72)	(4,248)
Prepaid expenses	120	(201)
Other assets	816	(564)
Increase (Decrease) in liabilities:
Accounts payable	3,859	2,873
Accrued expenses	4,612	(1,762)
Deferred compensation	129	(421)
Pension and postretirement benefits	(5,482)	1,287
Other liabilities	(1,101)	249
Total Adjustments	9,410	6,587
Net Cash Provided by Operating Activities	22,269	15,364
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(10,870)	(10,162)
Proceeds from Sale of Property, Plant, and Equipment	112	0
Purchases of short-term investments	0	(4,678)
Dispositions of short-term investments	0	11,082
Net Cash Used in Investing Activities	(10,758)	(3,758)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on notes payable	(3,082)	(3,083)
Dividends paid	(5,292)	(4,967)
Purchase of treasury stock	(4,620)	(141)
Contributions from noncontrolling interests	142	0
Net Cash Used in Financing Activities	(12,852)	(8,191)
Effect of exchange rate changes on Cash and Cash Equivalents	27	52
Net (Decrease) Increase in Cash and Cash Equivalents	(1,314)	3,467
Cash and Cash Equivalents, Beginning of Period	21,862	12,757
Cash and Cash Equivalents, End of Period	20,548	16,224
Supplemental disclosure of non-cash investing and financing activities:
Capital expenditures accrued, but not paid	784	468
Cash dividends declared and accrued, but not paid	$ 1,735	$ 1,689

Basis of Statement Presentation

Basis of Statement Presentation	9 Months Ended
	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Statement Presentation	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in compliance with instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The financial statements and the related notes are condensed and should be read in conjunction with the Consolidated Financial Statements and related notes for the fiscal year ended July 31, 2019 included in our Annual Report on Form 10-K filed with the SEC. The unaudited Condensed Consolidated Financial Statements include the accounts of Oil-Dri Corporation of America and its subsidiaries. All significant intercompany transactions are eliminated. Except as otherwise indicated herein or as the context otherwise requires, references to “Oil-Dri,” the “Company,” “we,” “us” or “our” refer to Oil-Dri Corporation of America and its subsidiaries. The unaudited Condensed Consolidated Financial Statements reflect all adjustments, consisting of normal recurring accruals and reclassifications which are, in the opinion of management, necessary for a fair presentation of the statements contained herein. In addition, certain prior year reclassifications were made to conform to the current year presentation. Operating results for the three and nine months ended April 30, 2020 are not necessarily an indication of the results that may be expected for the fiscal year ending July 31, 2020 . In March 2020, the World Health Organization declared the recent novel coronavirus outbreak ("the coronavirus" or "COVID-19") a pandemic. Despite the adverse effects of COVID-19 on the overall economy, we have not experienced a significant decline in customer orders and sales in the third quarter of fiscal year 2020. However, the effects of COVID-19 are unprecedented, and therefore we are unable to ascertain the effects on our sales and net earnings for the balance of fiscal year 2020. Management Use of Estimates The preparation of the unaudited Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period, as well as the related disclosures. All of our estimates and assumptions are revised periodically. Actual results could differ from these estimates. Summary of Significant Accounting Policies Our significant accounting policies, which are detailed in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019 have not materially changed, except as described herein, including policies associated with the August 1, 2019 adoption of Accounting Standards Codification (“ASC”) 842, Leases . Changes to our accounting policies as a result of the ASC 842 adoption are discussed below and further information is also provided in Note 2 of the Notes to unaudited Condensed Consolidated Financial Statements. Following is a description of certain of our significant accounting policies. Trade Receivables. We record an allowance for doubtful accounts based on our historical experience and a periodic review of our accounts receivable, including a review of the overall aging of accounts, consideration of customer credit risk and analysis of facts and circumstances about specific customer accounts. A customer account is determined to be uncollectible when it is probable that a loss will be incurred after we have completed our internal collection procedures, including termination of shipments, direct customer contact and formal demand of payment. Overburden Removal and Mining Costs. We mine sorbent materials on property that we either own or lease as part of our overall operations. A significant part of our overall mining cost is incurred during the process of removing the overburden (non-usable material) from the mine site, thus exposing the sorbent material used in a majority of our production processes. These stripping costs are treated as a variable inventory production cost and are included in cost of sales in the period they are incurred. We defer and amortize the pre-production overburden removal costs associated with opening a new mine. Additionally, it is our policy to capitalize the purchase cost of land and mineral rights, including associated legal fees, survey fees and real estate fees. The costs of obtaining mineral patents, including legal fees and drilling expenses, are also capitalized. Pre-production development costs on new mines and any prepaid royalties that may be offset against future royalties due upon extraction of the minerals are also capitalized. All exploration related costs are expensed as incurred. We perform ongoing reclamation activities during the normal course of our overburden removal. As overburden is removed from a mine site, it is hauled to previously mined sites and is used to refill older sites. This process allows us to continuously reclaim older mine sites and dispose of overburden simultaneously, therefore minimizing the costs associated with the reclamation process. Leases. ASC 842 provides that a contract is, or contains, a lease if it conveys the right to control the use of an identified asset and, accordingly, a lease liability and a related right-of-use (“ROU”) asset is recognized at the commencement date on our consolidated balance sheet. As provided in ASC 842, we have elected not to apply these measurement and recognition requirements to short-term leases (i.e., leases with a term of 12 months or less). Short-term leases will not be recorded as ROU assets or lease liabilities on our consolidated balance sheet, and the related lease payments will be recognized in net earnings on a straight-line basis over the lease term. For leases other than short-term leases, the lease liability is equal to the present value of unpaid lease payments over the remaining lease term. The lease term may reflect options to extend or terminate the lease when it is reasonably certain that such options will be exercised. To determine the present value of the lease liability, we used an incremental borrowing rate, which is defined as the rate of interest we would have to pay to borrow (on a collateralized basis over a similar term) an amount equal to the lease payments in similar economic environments. The ROU asset is based on the corresponding lease liability adjusted for certain costs such as initial direct costs, prepaid lease payments and lease incentives received. Both operating and finance lease ROU assets are reviewed for impairment, consistent with other long-lived assets, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. After a ROU asset is impaired, any remaining balance of the ROU asset is amortized on a straight-line basis over the shorter of the remaining lease term or the estimated useful life. After the lease commencement date, we evaluate lease modifications, if any, that could result in a change in the accounting for leases. Certain of our leases provide for variable lease payments that vary due to changes in facts and circumstances occurring after the commencement date, other than the passage of time. Variable lease payments that are dependent on an index or rate (e.g., Consumer Price Index) are included in the initial measurement of the lease liability and the ROU asset. Variable lease payments that are not known at the commencement date and are determinable based on the performance or use of the underlying asset, are expensed as incurred. Our variable lease payments primarily include common area maintenance charges based on the percentage of the total square footage leased and the usage of assets, such as photocopiers. Some of our contracts may contain lease components as well as non-lease components, such as an agreement to purchase services. As allowed under ASC 842, we have elected not to separate the lease components from non-lease components for all asset classes and we will not allocate the contract consideration to these components. This policy was applied to all existing leases upon adoption of ASC 842 and will be applied to new leases on an ongoing basis. Revenue Recognition. We recognize revenue when performance obligations under the terms of the contracts with customers are satisfied. Our performance obligation generally consists of the promise to sell finished products to wholesalers, distributors and retailers or consumers and our obligations have an original duration of one year or less. Control of the finished products are transferred upon shipment to, or receipt at, customers' locations, as determined by the specific terms of the contract. We have completed our performance obligation when control is transferred and we recognize revenue accordingly. We have an unconditional right to consideration under the payment terms specified in the contract upon completion of the performance obligation. We may require certain customers to provide payment in advance of product shipment. We recorded a liability for these advance payments of $362,000 and $259,000 as of April 30, 2020 and July 31, 2019 , respectively. This liability is reported in Other Accrued Expenses on the unaudited Condensed Consolidated Balance Sheet. Revenue recognized during the nine months ended April 30, 2020 that was included in the liability for advance payments at the beginning of the period was $174,000 . We routinely commit to one-time or ongoing trade promotion programs directly with consumers, such as coupon programs, and with customers, such as volume discounts, cooperative marketing and other arrangements. We estimate and accrue the expected costs of these programs. These costs are considered variable consideration under ASC 606, Revenue from Contracts with Customers , and are netted against sales when revenue is recorded. The accruals are based on our best estimate of the amounts necessary to settle future and existing obligations on products sold as of the balance sheet date. To estimate these accruals, we rely on our historical experience of trade spending patterns and that of the industry, current trends and forecasted data. Selling, General and Administrative Expenses. Selling, general and administrative expenses (“SG&A”) include salaries, wages and benefits associated with staff outside the manufacturing and distribution functions, all marketing related costs, any miscellaneous trade spending expenses not required to be included in net sales, research and development costs, depreciation and amortization related to assets outside the manufacturing and distribution process and all other non-manufacturing and non-distribution expenses. Income Taxes On March 27, 2020, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into U.S. law. The CARES Act provides for, among other things, deferral of the employer portion of social security taxes incurred through the end of calendar 2020. As permitted by the CARES Act, we deferred approximately $130,000 in payroll taxes during its quarter ended April 30, 2020 and expect to defer the payment of payroll taxes each quarter for the remainder of 2020 to be paid equally in the fourth quarters of 2021 and 2022 representing approximately $2,000,000 in payroll taxes.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Apr. 30, 2020
NEW ACCOUNTING PRONOUNCEMENTS [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS AND REGULATIONS Recently Adopted Pronouncements On August 1, 2019 we adopted ASC 842, Leases , using the modified retrospective transition approach and, accordingly, we did not restate prior comparative period financial statements. As of the date of adoption, we elected the package of practical expedients that allowed us to forgo assessment under the ASC 842 guidance whether existing or expired contracts contained leases, the classification of expired or existing leases and the accounting for previously incurred initial direct costs. We also elected the practical expedient to forgo assessment under ASC 842 whether existing or expired land easements not previously accounted for under legacy leasing GAAP contain leases. The adoption of ASC 842 on August 1, 2019 resulted in the recognition of additional ROU assets and lease liabilities related to operating leases of $ 9,348,000 and $ 10,910,000 , respectively, on our unaudited Condensed Consolidated Balance Sheet. There was no material impact to any of our other unaudited consolidated financial statements. Recently Issued Pronouncements In March 2020, the FASB issued guidance under ASC 848, Reference Rate Reform. This guidance provides optional expedients and exceptions to account for debt, leases, contracts, hedging relationships and other transactions that reference LIBOR or another reference rate if certain criteria are met. The guidance is effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We are currently evaluating the potential effects of the adoption of this guidance on our Consolidated Financial Statements. In December 2019, the FASB issued guidance under ASC 740, Income Taxes , which simplifies the accounting for income taxes. The guidance removes several specific exceptions to the general principles in ASC 740 and clarifies and makes amendments to improve consistent application of and simplify existing accounting for other areas in ASC 740. This guidance is effective for our first quarter of fiscal year 2022, with early adoption permitted. We are currently evaluating the impact of the adoption of this requirement on our Consolidated Financial Statements. In June 2016, the FASB issued guidance under ASC 326, Financial Instruments-Credit Losses , which requires companies to utilize an impairment model for most financial assets measured at amortized cost and certain other financial instruments, which include trade and other receivables, loans and held-to-maturity debt securities, to record an allowance for credit risk based on expected losses rather than incurred losses. In addition, this new guidance changes the recognition method for credit losses on available-for-sale debt securities, which can occur as a result of market and credit risk, as well as additional disclosures. In general, this guidance will require modified retrospective adoption for all outstanding instruments that fall under this guidance. This guidance is effective for our first quarter of fiscal year 2023. We are currently evaluating the impact of the adoption of this requirement on our Consolidated Financial Statements. There have been no other accounting pronouncements issued but not yet adopted by us which are expected to have a material impact on our Consolidated Financial Statements.

Inventories

Inventories	9 Months Ended
	Apr. 30, 2020
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The composition of inventories is as follows (in thousands): April 30, July 31, Finished goods $ 14,250 $ 13,957 Packaging 5,576 5,681 Other 4,270 4,525 Total Inventories $ 24,096 $ 24,163 Inventories are valued at the lower of cost (first-in, first-out) or net realizable value. Inventory costs include the cost of raw materials, packaging supplies, labor and other overhead costs. We performed a detailed review of our inventory items to determine if an obsolescence reserve adjustment was necessary. The review surveyed all of our operating facilities and sales groups to ensure that both historical issues and new market trends were considered. The obsolescence reserve not only considered specific items, but also took into consideration the overall value of the inventory as of the balance sheet date. The inventory obsolescence reserve values at April 30, 2020 and July 31, 2019 were $1,350,000 and $704,000

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs used to measure fair value are prioritized into categories based on the lowest level of input that is significant to the fair value measurement. The categories in the fair value hierarchy are as follows: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs for similar assets or liabilities or valuation models whose inputs are observable, directly or indirectly. Level 3: Unobservable inputs. Cash equivalents are primarily money market mutual funds classified as Level 1. We had $103,000 and $26,000 cash equivalents as of April 30, 2020 and July 31, 2019, respectively, which are included in Cash and cash equivalents on the unaudited Condensed Consolidated Balance Sheet. Balances of accounts receivable and accounts payable approximated their fair values at April 30, 2020 and July 31, 2019 due to the short maturity and nature of those balances. Notes payable are reported at the face amount of future maturities. The estimated fair value of notes payable, including current maturities, was $3,195,000 and $6,357,000 as of April 30, 2020 and July 31, 2019 , respectively, and are classified as Level 2. The fair value was estimated using the exit price notion of fair value. We apply fair value techniques on at least an annual basis associated with: (1) valuing potential impairment loss related to goodwill, trademarks and other indefinite-lived intangible assets and (2) valuing potential impairment loss related to long-lived assets. See Note 5 of the Notes to unaudited Condensed Consolidated Financial Statements for further information about goodwill and other intangible assets.

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Notes)	9 Months Ended
	Apr. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets, other than goodwill, include trademarks, patents, customer lists and product registrations. Intangible amortization expense was $184,000 and $209,000 in the third quarter of fiscal years 2020 and 2019 , respectively. Intangible amortization expense was $600,000 and $628,000 in the first nine months of fiscal years 2020 and 2019. Estimated intangible amortization for the remainder of fiscal year 2020 is $183,000 . Estimated intangible amortization for the next five fiscal years is as follows (in thousands): 2021 $ 547 2022 $ 397 2023 $ 202 2024 $ 69 2025 $ 47 We have one acquired trademark recorded at a cost of $376,000 that was determined to have an indefinite life and is not amortized. We performed our annual goodwill impairment analysis in the fourth quarter of fiscal year 2019 and no impairment was identified. There have been no triggering events that would indicate a new impairment analysis is needed. Although we have not identified any trigging events relating to goodwill or our intangibles, the ultimate effects of COVID-19 could change this assessment in the future, as outlined under Item 1A, Risk Factors, discussed below.

Leases (Notes)

Leases (Notes)	9 Months Ended
	Apr. 30, 2020
Leases [Abstract]
Lessee, Operating Leases	LEASES We have operating leases primarily for real estate properties, including corporate headquarters, customer service and sales offices, manufacturing and packaging facilities, warehouses, and research and development facilities, as well as for rail tracks, railcars and office equipment. Certain of our leases for a shared warehouse and office facility, rail track and railcars have options to extend which we are reasonably certain we will exercise and, accordingly, have been considered in the lease term used to recognize our ROU assets and lease liabilities. Further information about our accounting policy for leases is included in Note 1 of the Notes to unaudited Condensed Consolidated Financial Statements. We have no material finance leases, and variable costs for operating leases are immaterial for the third quarter of fiscal year 2020 . Operating lease costs are included in Cost of Sales or SG&A expenses based on the nature of the lease. The following table summarizes total lease costs for our operating leases (in thousands): For the Three Months Ended April 30, 2020 For the Nine Months Ended April 30, 2020 Operating Lease Cost Operating lease cost $ 517 $ 1,551 Short-term operating lease cost 190 590 Supplemental cash flow information related to leases was as follows (in thousands): For the Three Months Ended April 30, 2020 For the Nine Months Ended April 30, 2020 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 430 $ 1,285 Operating lease ROU assets and operating lease liabilities are separately presented on the unaudited Condensed Consolidated Balance Sheet, excluding leases with an initial term of twelve months or less. Other supplemental balance sheet information related to leases was as follows: For the Nine Months Ended April 30, 2020 Weighted-average remaining lease term - operating leases 10.6 years Weighted-average discount rate - operating leases 4.02% The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of April 30, (in thousands): 2020 $ 1,912 2021 1,507 2022 983 2023 781 2024 767 Thereafter 6,320 Total 12,270 Less: imputed interest (2,424 ) Net lease obligation $ 9,846 The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of July 31, 2019 (in thousands): 2020 $ 2,255 2021 1,640 2022 1,513 2023 1,038 2024 899 Thereafter 7,422

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Apr. 30, 2020
Defined Benefit Plan [Abstract]
Pension and Other Postretirement Benefits Disclosure	PENSION AND OTHER POSTRETIREMENT BENEFITS Pension and Postretirement Health Benefits The Oil-Dri Corporation of America Pension Plan (“Pension Plan”) is a defined benefit pension plan for eligible salaried and hourly employees. Pension benefits are based on a formula of years of credited service and levels of compensation or stated amounts for each year of credited service. On January 9, 2020, we amended the Pension Plan to freeze participation, all future benefit accruals and accrual of benefit service, including consideration of compensation increases, effective March 1, 2020. Consequently, the Pension Plan is closed to new participants and current participants will no longer earn additional benefits on or after March 1, 2020. The amendment of the Pension Plan triggered a pension curtailment, which required a remeasurement of the Pension Plan's obligation. The remeasurement resulted in a decrease in the benefit obligation of approximately $6,632,000 , which was recorded in Other Comprehensive Income, net of taxes of $1,592,000 in the second quarter of fiscal year 2020. The components of net periodic pension and postretirement health benefit costs were as follows: Pension Benefits (in thousands) For the Three Months Ended April 30, For the Nine Months Ended April 30, 2020 2019 2020 2019 Service cost $ 122 $ 407 $ 973 $ 1,220 Interest cost 444 529 1,456 1,586 Expected return on plan assets (688 ) (702 ) (2,102 ) (2,107 ) Amortization of: Prior service costs — — — 1 Other actuarial loss 167 192 837 578 Net periodic benefit cost $ 45 $ 426 $ 1,164 $ 1,278 Postretirement Health Benefits (in thousands) For the Three Months Ended April 30, For the Nine Months Ended April 30, 2020 2019 2020 2019 Service cost $ 29 $ 27 $ 87 $ 79 Interest cost 20 24 61 73 Amortization of: Prior service costs (2 ) (2 ) (5 ) (5 ) Net periodic benefit cost $ 47 $ 49 $ 143 $ 147 The non-service cost components of net periodic benefit cost are included in Other Income (Expense) in the line item Other, net on the unaudited Condensed Consolidated Statements of Income. The Pension Plan is funded based upon actuarially determined contributions that take into account the amount deductible for income tax purposes, the normal cost and the minimum contribution required and the maximum contribution allowed under applicable regulations. We were not required to make, but did make a $5,000,000 voluntary contribution to the Pension Plan during the second quarter of fiscal year 2020 . We have no minimum funding requirements for the remainder of fiscal year 2020 but we may consider making an additional voluntary contribution. The postretirement health plan is an unfunded plan. We pay insurance premiums and claims from our assets. Assumptions used in the previous calculations were as follows: Pension Benefits Postretirement Health Benefits For the Three and Nine Months Ended April 30, 2020 2019 2020 2019 Discount rate for net periodic benefit cost 3.35 % 4.04 % 2.93 % 3.81 % Rate of increase in compensation levels 3.50 % 3.50 % — — Long-term expected rate of return on assets 7.00 % 7.00 % — — The medical cost trend assumption for postretirement health benefits was 7.35% . The graded trend rate is expected to decrease to an ultimate rate of 4.50% in fiscal year 2038 . Supplemental Executive Retirement Plan The Oil-Dri Corporation of America Supplemental Executive Retirement Plan (“SERP”) provides certain retired participants in the Pension Plan with the amount of benefits that would have been provided under the Pension Plan but for: (1) the limitations on benefits imposed by Section 415 of the Internal Revenue Code (“Code”) and/or (2) the limitation on compensation for purposes of calculating benefits under the Pension Plan imposed by Section 401(a)(17) of the Code. The SERP liability is actuarially determined at the end of each fiscal year using assumptions similar to those used for the Pension Plan. The SERP is unfunded and benefits will be funded when payments are made. On January 9, 2020, we amended the SERP to freeze participation and any excess benefit, supplemental benefit or additional benefit effective March 1, 2020. Consequently, the SERP is closed to new participants and current participants no longer earn additional benefits on or after March 1, 2020. The amendment of the SERP triggered a pension curtailment which required a remeasurement of the SERP's obligation. The remeasurement resulted in a decrease in the SERP liability of approximately $1,296,000

Operating Segments

Operating Segments	9 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Operating Segment Disclosure	OPERATING SEGMENTS We have two operating segments: (1) Business to Business Products Group and (2) Retail and Wholesale Products Group. These operating segments are managed separately and each segment's major customers have different characteristics. The Retail and Wholesale Products Group customers include: mass merchandisers; wholesale clubs; drugstore chains; pet specialty retail outlets; dollar stores; retail grocery stores; distributors of industrial cleanup and automotive products; environmental service companies; and sports field product users. The Business to Business Products Group customers include: processors and refiners of edible oils, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; distributors of animal health and nutrition products; and marketers of consumer products. Our operating segments are also our reportable segments. The accounting policies of the segments are the same as those described in Note 1 of the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019 . Net sales for our principal products by segment are as follows (in thousands): Business to Business Products Group Retail and Wholesale Products Group For the Nine Months Ended April 30, Product 2020 2019 2020 2019 Cat Litter $ 11,026 $ 9,943 $ 116,010 $ 101,754 Industrial and Sports — — 22,906 25,509 Agricultural and Horticultural 16,518 18,320 — — Bleaching Clay and Fluids Purification 37,142 38,116 1,835 1,820 Animal Health and Nutrition 12,946 11,446 — — Net Sales $ 77,632 $ 77,825 $ 140,751 $ 129,083 Business to Business Products Group Retail and Wholesale Products Group For the Three Months Ended April 30, Product 2020 2019 2020 2019 Cat Litter $ 3,779 $ 3,441 $ 41,040 $ 34,141 Industrial and Sports — — 7,894 10,080 Agricultural and Horticultural 6,222 5,622 — — Bleaching Clay and Fluids Purification 12,537 13,662 639 623 Animal Health and Nutrition 4,145 3,316 — — Net Sales $ 26,683 $ 26,041 $ 49,573 $ 44,844 We do not rely on any segment asset allocations and we do not consider them meaningful because of the shared nature of our production facilities; however, we have estimated the segment asset allocations below for those assets for which we can reasonably determine. The unallocated asset category is the remainder of our total assets. We have refined the basis of allocation for certain of our assets as of April 30, 2020 and we have restated the allocation of assets as of July 31, 2019 presented below to enhance comparability. The asset allocation is estimated and is not a measure used by our chief operating decision maker about allocating resources to the operating segments or in assessing their performance. Assets April 30, 2020 July 31, 2019 (in thousands) Business to Business Products Group $ 69,184 $ 66,655 Retail and Wholesale Products Group 100,636 95,593 Unallocated Assets 46,161 42,979 Total Assets $ 215,981 $ 205,227 Net sales and operating income for each segment are provided below. The corporate expenses line includes certain unallocated expenses, including primarily salaries, wages and benefits, purchased services, rent, utilities and depreciation and amortization associated with corporate functions such as research and development, information systems, finance, legal, human resources and customer service. Corporate expenses also include the estimated annual incentive plan bonus accrual. Other income for the third quarter and the first nine months of fiscal year 2019 included net proceeds upon resolution of legal proceedings. The amount received under a confidential agreement resolving such legal proceedings was material to our financial results for the period. For the Nine Months Ended April 30, Net Sales Income 2020 2019 2020 2019 (in thousands) Business to Business Products Group $ 77,632 $ 77,825 $ 24,046 $ 21,758 Retail and Wholesale Products Group 140,751 129,083 15,380 6,823 Net Sales $ 218,383 $ 206,908 Corporate Expenses (23,732 ) (22,424 ) Income from Operations 15,694 6,157 Total Other (Expense) Income, Net (262 ) 4,219 Income before Income Taxes 15,432 10,376 Income Tax Expense (2,573 ) (1,599 ) Net Income 12,859 8,777 Net Loss Income Attributable to Noncontrolling Interest (155 ) (35 ) Net Income Attributable to Oil-Dri $ 13,014 $ 8,812 For the Three Months Ended April 30, Net Sales Income 2020 2019 2020 2019 (in thousands) Business to Business Products Group $ 26,683 $ 26,041 $ 8,198 $ 7,454 Retail and Wholesale Products Group 49,573 44,844 6,412 4,161 Net Sales $ 76,256 $ 70,885 Corporate Expenses (8,910 ) (9,288 ) Income from Operations 5,700 2,327 Total Other (Expense) Income, Net (103 ) 4,377 Income before Income Taxes 5,597 6,704 Income Tax Expense (947 ) (1,143 ) Net Income 4,650 5,561 Net Income (Loss) Attributable to Noncontrolling Interest 2 (58 ) Net Income Attributable to Oil-Dri $ 4,648 $ 5,619

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Apr. 30, 2020
Share-based Payment Arrangement [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments	STOCK-BASED COMPENSATION The Oil-Dri Corporation of America 2006 Long Term Incentive Plan, as amended (the “2006 Plan”), permits the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock-based and cash-based awards. Our employees and outside directors are eligible to receive grants under the 2006 Plan. The total number of shares of stock subject to grants under the 2006 Plan may not exceed 1,219,500 . Restricted Stock All of our non-vested restricted stock as of April 30, 2020 was issued under the 2006 Plan with vesting periods generally between one and five years . We determined the fair value of restricted stock as of the grant date. We recognize the related compensation expense over the period from the date of grant to the date the shares vest. There were 2,000 and 41,000 restricted shares of Common Stock granted during the third quarter of fiscal years 2020 and 2019 , respectively. Stock-based compensation expense related to non-vested restricted stock was $770,000 and $710,000 for the third quarter of fiscal years 2020 and 2019 , respectively, and was $2,549,000 and $1,599,000 for the first nine months of fiscal years 2020 and 2019 , respectively. A summary of restricted stock transactions is shown below: Restricted Shares (in thousands) Weighted Average Grant Date Fair Value Non-vested restricted stock outstanding at July 31, 2019 414 $ 33.09 Granted 23 $ 33.33 Vested (41 ) $ 32.34 Forfeitures (5 ) $ 32.33 Non-vested restricted stock outstanding at April 30, 2020 391

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income (Notes)	9 Months Ended
	Apr. 30, 2020
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive (Loss) Income	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME The following table summarizes the changes in accumulated other comprehensive (loss) income by component as of April 30, 2020 (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2019 $ (14,891 ) $ (148 ) $ (15,039 ) Other comprehensive loss before reclassifications, net of tax — (230 ) (230 ) Amounts reclassified from accumulated other comprehensive income, net of tax 634 (a) — 634 Curtailment on Pension Plan $ 5,040 (b) $ — $ 5,040 Net current-period other comprehensive income (loss), net of tax 5,674 (230 ) 5,444 Balance as of April 30, 2020 $ (9,217 ) $ (378 ) $ (9,595 ) (a) Amount is net of tax expense of $199,860 . Amount is included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 7 of the Notes to unaudited Condensed Consolidated Financial Statements for further information. (b) Amount is net of tax expense of $1,592,000 . See Note 7 of the Notes to the unaudited Condensed Consolidated Financial Statements for further information.

Related Party Transactions (Not

Related Party Transactions (Notes)	9 Months Ended
	Apr. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	RELATED PARTY TRANSACTIONS One member of our Board of Directors (the “Board”), and our Lead Independent Director, retired from the role of President and Chief Executive Officer of a customer of ours in September 2019. That company was a customer of ours before the board member joined that company and before he became a member of our Board. Total net sales to that customer, including sales to subsidiaries of that customer, were $103,000 and $158,000 for the third quarter of fiscal years 2020 and 2019 , respectively, and were $263,000 and $360,000 for the first nine months of fiscal years 2020 and 2019 , respectively. Outstanding accounts receivable from that customer, and its subsidiaries, were $22,000 and $10,000 at April 30, 2020 and July 31, 2019 , respectively. One member of our Board, and of the Compensation Committee of our Board, is the President and Chief Executive Officer as well as a director and shareholder of a law firm that regularly provides services to us. Total payments to that vendor for fees and cost reimbursements were $119,000 and $140,000 for the third quarter of fiscal years 2020 and 2019 , respectively, and were $182,000 and $237,000 for the first nine months of fiscal years 2020 and 2019 , respectively. There were no outstanding accounts payable to that vendor as of April 30, 2020 or July 31, 2019 .

Subsequent Events (Notes)

Subsequent Events (Notes)	9 Months Ended
	Apr. 30, 2020
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Amended Note Agreement On May 15, 2020 (the “Effective Date”), the Company entered into an Amended and Restated Note Purchase and Private Shelf Agreement (the “Amended Note Agreement”) with PGIM, Inc. (“Prudential”) and certain existing noteholders and purchasers affiliated with Prudential named therein. The Amended Note Agreement amends and restates the Note Agreement between the Company, Prudential and certain existing noteholders named therein, dated as of November 12, 2010 (the “Prior Note Agreement”), under which the Company’s 3.96% Series A Senior Notes due August 1, 2020 (the “Series A Notes”) were previously issued in an original aggregate principal amount of $18,500,000 . Pursuant to the Amended Note Agreement, (i) the Series A Notes, in an aggregate principal amount of $3,100,000 as of immediately prior to the Effective Date, continue to remain outstanding under and subject to the terms of the Amended Note Agreement, and (ii) the Company issued $10,000,000 in aggregate principal amount of its 3.95% Series B Senior Notes due May 15, 2030 (the “Series B Notes”). In addition, the Amended Note Agreement provides the Company with the ability to request, from time to time until May 15, 2023 (or such earlier date as provided for in the Amended Note Agreement), that Prudential affiliate(s) purchase, at Prudential’s discretion and on an uncommitted basis, additional senior unsecured notes of the Company (the “Shelf Notes,” and collectively with the Series A Notes and Series B Notes, the “Notes”) in an aggregate principal amount of up to $75,000,000 minus the aggregate principal amount of Notes then outstanding and Shelf Notes that have been accepted for purchase. Interest payable on any Shelf Note agreed to be purchased under the Amended Note Agreement will be at a rate determined by Prudential and will mature not more than fifteen years after the date of original issue of such Shelf Note. Like the Prior Note Agreement, the Amended Note Agreement is guaranteed, on an unsecured basis, by certain U.S. subsidiaries of the Company, and contains customary covenants, including but not limited to, limitations on the Company’s and certain Company subsidiaries’ ability to incur indebtedness, incur liens, engage in mergers, and sell or transfer assets and stock, as well as financial covenants, including a minimum fixed charges coverage ratio and consolidated debt ratio that remain the same as those contained in the Prior Note Agreement. Upon the occurrence of certain events of default, the Company’s obligations under the Amended Note Agreement may be accelerated. Such events of default include payment defaults, covenant defaults and other enumerated defaults. License Payment Subsequent to the quarter end, the Company entered into a confidential agreement. Pursuant to this agreement, the Company granted a non-exclusive, perpetual license to develop, manufacture, use, distribute and sell products produced using formulations under certain of our patents until their expiration in exchange for a one-time payment of $13,000,000 as well as certain limitations on the ability of the parties to bring forth patent infringement claims or challenges relating to certain products. The Company received the one-time payment in the fourth quarter of fiscal year 2020. Pension In connection with the freeze of our Pension Plan, as described in Note 7 to the Notes to the unaudited Condensed Consolidated Financial Statements, we offered terminated participants with vested benefits who have not yet begun receipt of benefits under the Plan the opportunity to receive their pension benefits in a single payment (the "Lump Sum Option"). We plan to make payments in the fourth quarter of fiscal year 2020 to those participants who elected the Lump Sum Option by the May 15, 2020 election deadline. We estimate that the settlement expense will be approximately $2,000,000 .

Basis of Statement Presentati_2

Basis of Statement Presentation Level 2 (Policies)	9 Months Ended
	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade Receivables	We record an allowance for doubtful accounts based on our historical experience and a periodic review of our accounts receivable, including a review of the overall aging of accounts, consideration of customer credit risk and analysis of facts and circumstances about specific customer accounts. A customer account is determined to be uncollectible when it is probable that a loss will be incurred after we have completed our internal collection procedures, including termination of shipments, direct customer contact and formal demand of payment.
Overburden Removal and Mining Costs	We mine sorbent materials on property that we either own or lease as part of our overall operations. A significant part of our overall mining cost is incurred during the process of removing the overburden (non-usable material) from the mine site, thus exposing the sorbent material used in a majority of our production processes. These stripping costs are treated as a variable inventory production cost and are included in cost of sales in the period they are incurred. We defer and amortize the pre-production overburden removal costs associated with opening a new mine. Additionally, it is our policy to capitalize the purchase cost of land and mineral rights, including associated legal fees, survey fees and real estate fees. The costs of obtaining mineral patents, including legal fees and drilling expenses, are also capitalized. Pre-production development costs on new mines and any prepaid royalties that may be offset against future royalties due upon extraction of the minerals are also capitalized. All exploration related costs are expensed as incurred.
Reclamation	We perform ongoing reclamation activities during the normal course of our overburden removal. As overburden is removed from a mine site, it is hauled to previously mined sites and is used to refill older sites. This process allows us to continuously reclaim older mine sites and dispose of overburden simultaneously, therefore minimizing the costs associated with the reclamation process.
Leases	ASC 842 provides that a contract is, or contains, a lease if it conveys the right to control the use of an identified asset and, accordingly, a lease liability and a related right-of-use (“ROU”) asset is recognized at the commencement date on our consolidated balance sheet. As provided in ASC 842, we have elected not to apply these measurement and recognition requirements to short-term leases (i.e., leases with a term of 12 months or less). Short-term leases will not be recorded as ROU assets or lease liabilities on our consolidated balance sheet, and the related lease payments will be recognized in net earnings on a straight-line basis over the lease term. For leases other than short-term leases, the lease liability is equal to the present value of unpaid lease payments over the remaining lease term. The lease term may reflect options to extend or terminate the lease when it is reasonably certain that such options will be exercised. To determine the present value of the lease liability, we used an incremental borrowing rate, which is defined as the rate of interest we would have to pay to borrow (on a collateralized basis over a similar term) an amount equal to the lease payments in similar economic environments. The ROU asset is based on the corresponding lease liability adjusted for certain costs such as initial direct costs, prepaid lease payments and lease incentives received. Both operating and finance lease ROU assets are reviewed for impairment, consistent with other long-lived assets, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. After a ROU asset is impaired, any remaining balance of the ROU asset is amortized on a straight-line basis over the shorter of the remaining lease term or the estimated useful life. After the lease commencement date, we evaluate lease modifications, if any, that could result in a change in the accounting for leases. Certain of our leases provide for variable lease payments that vary due to changes in facts and circumstances occurring after the commencement date, other than the passage of time. Variable lease payments that are dependent on an index or rate (e.g., Consumer Price Index) are included in the initial measurement of the lease liability and the ROU asset. Variable lease payments that are not known at the commencement date and are determinable based on the performance or use of the underlying asset, are expensed as incurred. Our variable lease payments primarily include common area maintenance charges based on the percentage of the total square footage leased and the usage of assets, such as photocopiers. Some of our contracts may contain lease components as well as non-lease components, such as an agreement to purchase services. As allowed under ASC 842, we have elected not to separate the lease components from non-lease components for all asset classes and we will not allocate the contract consideration to these components. This policy was applied to all existing leases upon adoption of ASC 842 and will be applied to new leases on an ongoing basis.
Revenue Recognition	We recognize revenue when performance obligations under the terms of the contracts with customers are satisfied. Our performance obligation generally consists of the promise to sell finished products to wholesalers, distributors and retailers or consumers and our obligations have an original duration of one year or less. Control of the finished products are transferred upon shipment to, or receipt at, customers' locations, as determined by the specific terms of the contract. We have completed our performance obligation when control is transferred and we recognize revenue accordingly. We have an unconditional right to consideration under the payment terms specified in the contract upon completion of the performance obligation. We may require certain customers to provide payment in advance of product shipment. We recorded a liability for these advance payments of $362,000 and $259,000 as of April 30, 2020 and July 31, 2019 , respectively. This liability is reported in Other Accrued Expenses on the unaudited Condensed Consolidated Balance Sheet. Revenue recognized during the nine months ended April 30, 2020 that was included in the liability for advance payments at the beginning of the period was $174,000 . We routinely commit to one-time or ongoing trade promotion programs directly with consumers, such as coupon programs, and with customers, such as volume discounts, cooperative marketing and other arrangements. We estimate and accrue the expected costs of these programs. These costs are considered variable consideration under ASC 606, Revenue from Contracts with Customers , and are netted against sales when revenue is recorded. The accruals are based on our best estimate of the amounts necessary to settle future and existing obligations on products sold as of the balance sheet date. To estimate these accruals, we rely on our historical experience of trade spending patterns and that of the industry, current trends and forecasted data.
Selling, General and Administrative Expenses	Selling, general and administrative expenses (“SG&A”) include salaries, wages and benefits associated with staff outside the manufacturing and distribution functions, all marketing related costs, any miscellaneous trade spending expenses not required to be included in net sales, research and development costs, depreciation and amortization related to assets outside the manufacturing and distribution process and all other non-manufacturing and non-distribution expenses.
Income Taxes	On March 27, 2020, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into U.S. law. The CARES Act provides for, among other things, deferral of the employer portion of social security taxes incurred through the end of calendar 2020. As permitted by the CARES Act, we deferred approximately $130,000 in payroll taxes during its quarter ended April 30, 2020 and expect to defer the payment of payroll taxes each quarter for the remainder of 2020 to be paid equally in the fourth quarters of 2021 and 2022 representing approximately $2,000,000 in payroll taxes.

Inventories Level 2 (Policies)

Inventories Level 2 (Policies)	9 Months Ended
	Apr. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories are valued at the lower of cost (first-in, first-out) or net realizable value. Inventory costs include the cost of raw materials, packaging supplies, labor and other overhead costs. We performed a detailed review of our inventory items to determine if an obsolescence reserve adjustment was necessary. The review surveyed all of our operating facilities and sales groups to ensure that both historical issues and new market trends were considered. The obsolescence reserve not only considered specific items, but also took into consideration the overall value of the inventory as of the balance sheet date.

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Policies)	9 Months Ended
	Apr. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement, Policy	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs used to measure fair value are prioritized into categories based on the lowest level of input that is significant to the fair value measurement. The categories in the fair value hierarchy are as follows: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs for similar assets or liabilities or valuation models whose inputs are observable, directly or indirectly. Level 3: Unobservable inputs.

Operating Segments Level 2 (Pol

Operating Segments Level 2 (Policies)	9 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Operating Segments	We have two operating segments: (1) Business to Business Products Group and (2) Retail and Wholesale Products Group. These operating segments are managed separately and each segment's major customers have different characteristics. The Retail and Wholesale Products Group customers include: mass merchandisers; wholesale clubs; drugstore chains; pet specialty retail outlets; dollar stores; retail grocery stores; distributors of industrial cleanup and automotive products; environmental service companies; and sports field product users. The Business to Business Products Group customers include: processors and refiners of edible oils, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; distributors of animal health and nutrition products; and marketers of consumer products. Our operating segments are also our reportable segments. The accounting policies of the segments are the same as those described in Note 1 of the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019 .

Inventories Level 3 (Tables)

Inventories Level 3 (Tables)	9 Months Ended
	Apr. 30, 2020
Inventory Disclosure [Abstract]
Inventories	The composition of inventories is as follows (in thousands): April 30, July 31, Finished goods $ 14,250 $ 13,957 Packaging 5,576 5,681 Other 4,270 4,525 Total Inventories $ 24,096 $ 24,163

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Tables)	9 Months Ended
	Apr. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated intangible amortization for the next five fiscal years is as follows (in thousands): 2021 $ 547 2022 $ 397 2023 $ 202 2024 $ 69 2025 $ 47

Leases (Tables)

Leases (Tables)	9 Months Ended
	Apr. 30, 2020
Leases [Abstract]
Lease cost	We have no material finance leases, and variable costs for operating leases are immaterial for the third quarter of fiscal year 2020 . Operating lease costs are included in Cost of Sales or SG&A expenses based on the nature of the lease. The following table summarizes total lease costs for our operating leases (in thousands): For the Three Months Ended April 30, 2020 For the Nine Months Ended April 30, 2020 Operating Lease Cost Operating lease cost $ 517 $ 1,551 Short-term operating lease cost 190 590 Supplemental cash flow information related to leases was as follows (in thousands): For the Three Months Ended April 30, 2020 For the Nine Months Ended April 30, 2020 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 430 $ 1,285 Operating lease ROU assets and operating lease liabilities are separately presented on the unaudited Condensed Consolidated Balance Sheet, excluding leases with an initial term of twelve months or less. Other supplemental balance sheet information related to leases was as follows: For the Nine Months Ended April 30, 2020 Weighted-average remaining lease term - operating leases 10.6 years Weighted-average discount rate - operating leases 4.02%
Operating lease payments due within next twelve months as of April 30,	The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of April 30, (in thousands): 2020 $ 1,912 2021 1,507 2022 983 2023 781 2024 767 Thereafter 6,320 Total 12,270 Less: imputed interest (2,424 ) Net lease obligation $ 9,846
Operating lease payments due within next twelve months as of July 31, 2019	The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of July 31, 2019 (in thousands): 2020 $ 2,255 2021 1,640 2022 1,513 2023 1,038 2024 899 Thereafter 7,422

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Apr. 30, 2020
Defined Benefit Plan [Abstract]
Schedule of Net Benefit Costs	The components of net periodic pension and postretirement health benefit costs were as follows: Pension Benefits (in thousands) For the Three Months Ended April 30, For the Nine Months Ended April 30, 2020 2019 2020 2019 Service cost $ 122 $ 407 $ 973 $ 1,220 Interest cost 444 529 1,456 1,586 Expected return on plan assets (688 ) (702 ) (2,102 ) (2,107 ) Amortization of: Prior service costs — — — 1 Other actuarial loss 167 192 837 578 Net periodic benefit cost $ 45 $ 426 $ 1,164 $ 1,278 Postretirement Health Benefits (in thousands) For the Three Months Ended April 30, For the Nine Months Ended April 30, 2020 2019 2020 2019 Service cost $ 29 $ 27 $ 87 $ 79 Interest cost 20 24 61 73 Amortization of: Prior service costs (2 ) (2 ) (5 ) (5 ) Net periodic benefit cost $ 47 $ 49 $ 143 $ 147
Schedule of Assumptions Used	Assumptions used in the previous calculations were as follows: Pension Benefits Postretirement Health Benefits For the Three and Nine Months Ended April 30, 2020 2019 2020 2019 Discount rate for net periodic benefit cost 3.35 % 4.04 % 2.93 % 3.81 % Rate of increase in compensation levels 3.50 % 3.50 % — — Long-term expected rate of return on assets 7.00 % 7.00 % — — The medical cost trend assumption for postretirement health benefits was 7.35% . The graded trend rate is expected to decrease to an ultimate rate of 4.50% in fiscal year 2038 .

Operating Segments (Tables)

Operating Segments (Tables)	9 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Revenue by Principal Product by Operating Segment	Net sales for our principal products by segment are as follows (in thousands): Business to Business Products Group Retail and Wholesale Products Group For the Nine Months Ended April 30, Product 2020 2019 2020 2019 Cat Litter $ 11,026 $ 9,943 $ 116,010 $ 101,754 Industrial and Sports — — 22,906 25,509 Agricultural and Horticultural 16,518 18,320 — — Bleaching Clay and Fluids Purification 37,142 38,116 1,835 1,820 Animal Health and Nutrition 12,946 11,446 — — Net Sales $ 77,632 $ 77,825 $ 140,751 $ 129,083 Business to Business Products Group Retail and Wholesale Products Group For the Three Months Ended April 30, Product 2020 2019 2020 2019 Cat Litter $ 3,779 $ 3,441 $ 41,040 $ 34,141 Industrial and Sports — — 7,894 10,080 Agricultural and Horticultural 6,222 5,622 — — Bleaching Clay and Fluids Purification 12,537 13,662 639 623 Animal Health and Nutrition 4,145 3,316 — — Net Sales $ 26,683 $ 26,041 $ 49,573 $ 44,844
Operating Segments Information	We do not rely on any segment asset allocations and we do not consider them meaningful because of the shared nature of our production facilities; however, we have estimated the segment asset allocations below for those assets for which we can reasonably determine. The unallocated asset category is the remainder of our total assets. We have refined the basis of allocation for certain of our assets as of April 30, 2020 and we have restated the allocation of assets as of July 31, 2019 presented below to enhance comparability. The asset allocation is estimated and is not a measure used by our chief operating decision maker about allocating resources to the operating segments or in assessing their performance. Assets April 30, 2020 July 31, 2019 (in thousands) Business to Business Products Group $ 69,184 $ 66,655 Retail and Wholesale Products Group 100,636 95,593 Unallocated Assets 46,161 42,979 Total Assets $ 215,981 $ 205,227 Net sales and operating income for each segment are provided below. The corporate expenses line includes certain unallocated expenses, including primarily salaries, wages and benefits, purchased services, rent, utilities and depreciation and amortization associated with corporate functions such as research and development, information systems, finance, legal, human resources and customer service. Corporate expenses also include the estimated annual incentive plan bonus accrual. Other income for the third quarter and the first nine months of fiscal year 2019 included net proceeds upon resolution of legal proceedings. The amount received under a confidential agreement resolving such legal proceedings was material to our financial results for the period. For the Nine Months Ended April 30, Net Sales Income 2020 2019 2020 2019 (in thousands) Business to Business Products Group $ 77,632 $ 77,825 $ 24,046 $ 21,758 Retail and Wholesale Products Group 140,751 129,083 15,380 6,823 Net Sales $ 218,383 $ 206,908 Corporate Expenses (23,732 ) (22,424 ) Income from Operations 15,694 6,157 Total Other (Expense) Income, Net (262 ) 4,219 Income before Income Taxes 15,432 10,376 Income Tax Expense (2,573 ) (1,599 ) Net Income 12,859 8,777 Net Loss Income Attributable to Noncontrolling Interest (155 ) (35 ) Net Income Attributable to Oil-Dri $ 13,014 $ 8,812 For the Three Months Ended April 30, Net Sales Income 2020 2019 2020 2019 (in thousands) Business to Business Products Group $ 26,683 $ 26,041 $ 8,198 $ 7,454 Retail and Wholesale Products Group 49,573 44,844 6,412 4,161 Net Sales $ 76,256 $ 70,885 Corporate Expenses (8,910 ) (9,288 ) Income from Operations 5,700 2,327 Total Other (Expense) Income, Net (103 ) 4,377 Income before Income Taxes 5,597 6,704 Income Tax Expense (947 ) (1,143 ) Net Income 4,650 5,561 Net Income (Loss) Attributable to Noncontrolling Interest 2 (58 ) Net Income Attributable to Oil-Dri $ 4,648 $ 5,619

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Apr. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Stock Transactions	A summary of restricted stock transactions is shown below: Restricted Shares (in thousands) Weighted Average Grant Date Fair Value Non-vested restricted stock outstanding at July 31, 2019 414 $ 33.09 Granted 23 $ 33.33 Vested (41 ) $ 32.34 Forfeitures (5 ) $ 32.33 Non-vested restricted stock outstanding at April 30, 2020 391

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Apr. 30, 2020
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive (Loss) Income by Component	The following table summarizes the changes in accumulated other comprehensive (loss) income by component as of April 30, 2020 (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2019 $ (14,891 ) $ (148 ) $ (15,039 ) Other comprehensive loss before reclassifications, net of tax — (230 ) (230 ) Amounts reclassified from accumulated other comprehensive income, net of tax 634 (a) — 634 Curtailment on Pension Plan $ 5,040 (b) $ — $ 5,040 Net current-period other comprehensive income (loss), net of tax 5,674 (230 ) 5,444 Balance as of April 30, 2020 $ (9,217 ) $ (378 ) $ (9,595 ) (a) Amount is net of tax expense of $199,860 . Amount is included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 7 of the Notes to unaudited Condensed Consolidated Financial Statements for further information. (b) Amount is net of tax expense of $1,592,000 . See Note 7 of the Notes to the unaudited Condensed Consolidated Financial Statements for further information.

Basis of Statement Presentati_3

Basis of Statement Presentation Revenue Recognition (Details) - Payments In Advance - USD ($)	9 Months Ended
	Apr. 30, 2020	Jul. 31, 2019
Deferred Revenue Arrangement
Liability for Payments in Advance	$ 362,000	$ 259,000
Payments in Advance, Revenue Recognized	$ 174,000

Basis of Statement Presentati_4

Basis of Statement Presentation Income Tax (Details) - USD ($)	3 Months Ended	8 Months Ended
	Apr. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
CARES Act, Current Payroll Tax Deferral	$ 130,000
CARES Act, Future Payroll Tax Deferral		$ 2,000,000

New Accounting Pronouncements A

New Accounting Pronouncements Adjustment for New Accounting Pronouncement (Details) - USD ($)	Apr. 30, 2020	Aug. 01, 2019	Jul. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle
Operating lease right-of-use assets	$ 8,327,000		$ 0
Net lease obligation	$ 9,846,000
ASC 842 Leases
New Accounting Pronouncements or Change in Accounting Principle
Operating lease right-of-use assets		$ 9,348,000
Net lease obligation		$ 10,910,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Inventory
Finished goods	$ 14,250	$ 13,957
Packaging	5,576	5,681
Other	4,270	4,525
Total Inventories	$ 24,096	$ 24,163

Inventories Narrative (Details)

Inventories Narrative (Details) - USD ($)	Apr. 30, 2020	Jul. 31, 2019
Inventory
Inventory obsolescence reserve	$ 1,350,000	$ 704,000

Fair Value Measurements Narrati

Fair Value Measurements Narrative (Details) - USD ($)	Apr. 30, 2020	Jul. 31, 2019
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash Equivalents	$ 103,000	$ 26,000
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Notes Payable, Fair Value	$ 3,195,000	$ 6,357,000

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Details) $ in Thousands	Apr. 30, 2020USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense
2021	$ 547
2022	397
2023	202
2024	69
2025	$ 47

Goodwill and Other Intangible_4

Goodwill and Other Intangibles Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019	Jul. 31, 2019
Finite-Lived Intangible Assets
Amortization of intangible assets	$ 184,000	$ 209,000	$ 600,000	$ 628,000
Amortization expense for remainder of current fiscal year	183,000		183,000
Indefinite-lived trademarks	$ 376,000		$ 376,000
Goodwill impairment loss					$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2020	Apr. 30, 2020	Jul. 31, 2019
Lease, Cost
Operating lease cost	$ 517	$ 1,551
Short-term operating lease cost	190	590
Operating cash flows from operating leases	$ 430	$ 1,285
Weighted-average remaining lease term - operating leaes	10 years 7 months 6 days	10 years 7 months 6 days
Weighted-average discount rate - operating leases	4.02%	4.02%
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity
2020	$ 1,912	$ 1,912
2021	1,507	1,507
2022	983	983
2023	781	781
2024	767	767
Thereafter	6,320	6,320
Total	12,270	12,270
Less: imputed interest	(2,424)	(2,424)
Net lease obligation	$ 9,846	$ 9,846
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity
2020			$ 2,255
2021			1,640
2022			1,513
2023			1,038
2024			899
Thereafter			$ 7,422

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 122	$ 407	$ 973	$ 1,220
Interest cost	444	529	1,456	1,586
Expected return on plan assets	(688)	(702)	(2,102)	(2,107)
Amortization of Prior service costs	0	0	0	1
Amortization of Other actuarial loss	167	192	837	578
Net periodic benefit cost	45	426	1,164	1,278
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	29	27	87	79
Interest cost	20	24	61	73
Amortization of Prior service costs	(2)	(2)	(5)	(5)
Net periodic benefit cost	$ 47	$ 49	$ 143	$ 147

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits Assumptions (Details)	9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate for net periodic benefit cost	3.35%	4.04%
Rate of increase in compensation levels	3.50%	3.50%
Long-term expected rate of return on assets	7.00%	7.00%
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate for net periodic benefit cost	2.93%	3.81%
Rate of increase in compensation levels	0.00%	0.00%
Long-term expected rate of return on assets	0.00%	0.00%

Pension and Other Postretirem_5

Pension and Other Postretirement Benefits Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Jan. 31, 2020	Jan. 31, 2020	Apr. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension Plan Obligation Decrease for Curtailment	$ 6,632,000
Other Comprehensive Income (Loss), Defined Benefit Plan, Adjustment for Settlement or Curtailment Gain (Loss), Tax		$ 1,592,000
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Voluntary contributions	5,000,000
Estimated contributions in remainder of current fiscal year			$ 0
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Medical Cost Trend Assumption			7.35%
Ultimate Health Care Cost Trend Rate			4.50%
Year that Rate Reaches Ultimate Trend Rate			2038
Supplemental Executive Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment	$ 1,296,000

Operating Segments Disaggregati

Operating Segments Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Revenue by Principal Product
Net Sales	$ 76,256	$ 70,885	$ 218,383	$ 206,908
Business to Business Products
Revenue by Principal Product
Net Sales	26,683	26,041	77,632	77,825
Business to Business Products | Cat Litter
Revenue by Principal Product
Net Sales	3,779	3,441	11,026	9,943
Business to Business Products | Industrial and Sports
Revenue by Principal Product
Net Sales	0	0	0	0
Business to Business Products | Agricultural and Horticultural
Revenue by Principal Product
Net Sales	6,222	5,622	16,518	18,320
Business to Business Products | Bleaching Clay and Fluids Purification
Revenue by Principal Product
Net Sales	12,537	13,662	37,142	38,116
Business to Business Products | Animal Health and Nutrition
Revenue by Principal Product
Net Sales	4,145	3,316	12,946	11,446
Retail and Wholesale Products
Revenue by Principal Product
Net Sales	49,573	44,844	140,751	129,083
Retail and Wholesale Products | Cat Litter
Revenue by Principal Product
Net Sales	41,040	34,141	116,010	101,754
Retail and Wholesale Products | Industrial and Sports
Revenue by Principal Product
Net Sales	7,894	10,080	22,906	25,509
Retail and Wholesale Products | Agricultural and Horticultural
Revenue by Principal Product
Net Sales	0	0	0	0
Retail and Wholesale Products | Bleaching Clay and Fluids Purification
Revenue by Principal Product
Net Sales	639	623	1,835	1,820
Retail and Wholesale Products | Animal Health and Nutrition
Revenue by Principal Product
Net Sales	$ 0	$ 0	$ 0	$ 0

Operating Segments (Details)

Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019	Jul. 31, 2019
Segment Reporting Information
Assets	$ 215,981		$ 215,981		$ 205,227
Net Sales	76,256	$ 70,885	218,383	$ 206,908
Corporate Expenses	(8,910)	(9,288)	(23,732)	(22,424)
Income from Operations	5,700	2,327	15,694	6,157
Total Other (Expense) Income, Net	(103)	4,377	(262)	4,219
Income before Income Taxes	5,597	6,704	15,432	10,376
Income Tax Expense	(947)	(1,143)	(2,573)	(1,599)
Net Income	4,650	5,561	12,859	8,777
Net Income (Loss) Attributable to Noncontrolling Interest	2	(58)	(155)	(35)
Net Income Attributable to Oil-Dri	4,648	5,619	13,014	8,812
Business to Business Products
Segment Reporting Information
Assets	69,184		69,184		66,655
Net Sales	26,683	26,041	77,632	77,825
Segment Income	8,198	7,454	24,046	21,758
Retail and Wholesale Products
Segment Reporting Information
Assets	100,636		100,636		95,593
Net Sales	49,573	44,844	140,751	129,083
Segment Income	6,412	$ 4,161	15,380	$ 6,823
Unallocated Assets
Segment Reporting Information
Assets	$ 46,161		$ 46,161		$ 42,979

Operating Segments Narrative (D

Operating Segments Narrative (Details)	9 Months Ended
	Apr. 30, 2020segment
Segment Reporting Information
Number of Reportable Segments	2

Stock-Based Compensation Summar

Stock-Based Compensation Summary of Restricted Stock Transactions (Details) - Restricted Stock shares in Thousands	9 Months Ended
	Apr. 30, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award
Non-vested restricted stock outstanding, beginning balance | shares	414
Granted, number of shares | shares	23
Vested, number of shares | shares	(41)
Forfeitures, number of shares | shares	(5)
Non-vested restricted stock outstanding, ending balance | shares	391
Non-vested restricted stock outstanding, weighted average grant date fair value, beginning balance | $ / shares	$ 33.09
Granted, weighted average grant date fair value | $ / shares	33.33
Vested, weighted average grant date fair value | $ / shares	32.34
Forfeitures, weighted average grant date fair value | $ / shares	32.33
Non-vested restricted stock outstanding, weighted average grant date fair value, ending balance | $ / shares

Stock-Based Compensation Narrat

Stock-Based Compensation Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted, number of shares			23,000
2006 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number Authorized (shares)	1,219,500		1,219,500
2006 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period, Minimum (years)			1 year
Award Vesting Period, Maximum (years)			5 years
Share-based Compensation Expense	$ 770,000	$ 710,000	$ 2,549,000	$ 1,599,000
2006 Plan | Restricted Stock | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted, number of shares	2,000	41,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			$ (15,039)
Other comprehensive loss before reclassifications, net of tax			(230)
Amounts reclassified from accumulated other comprehensive income, net of tax			634
Curtailment on Pension Plan			5,040
Net current-period other comprehensive income (loss), net of tax	$ 6	$ (175)	(5,444)	$ (430)
Accumulated Other Comprehensive (Loss) Income, Balance, ending	(9,595)		(9,595)
Pension and Postretirement Health Benefits
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			(14,891)
Other comprehensive loss before reclassifications, net of tax			0
Amounts reclassified from accumulated other comprehensive income, net of tax			634
Curtailment on Pension Plan			5,040
Net current-period other comprehensive income (loss), net of tax			(5,674)
Accumulated Other Comprehensive (Loss) Income, Balance, ending	(9,217)		(9,217)
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			(148)
Other comprehensive loss before reclassifications, net of tax			(230)
Amounts reclassified from accumulated other comprehensive income, net of tax			0
Curtailment on Pension Plan			0
Net current-period other comprehensive income (loss), net of tax			230
Accumulated Other Comprehensive (Loss) Income, Balance, ending	$ (378)		$ (378)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive (Loss) Income Narrative (Details) - USD ($)	6 Months Ended	9 Months Ended
	Jan. 31, 2020	Apr. 30, 2020
Accumulated Other Comprehensive (Loss) Income
Tax for reclassification adjustment from AOCI for pension and other postretirement benefits		$ 199,860
Other Comprehensive Income (Loss), Defined Benefit Plan, Adjustment for Settlement or Curtailment Gain (Loss), Tax	$ 1,592,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019	Jul. 31, 2019
Related Party Transaction
Current Fiscal Year End Date			--07-31
Document Period End Date			Apr. 30, 2020
Director
Related Party Transaction
Net sales to related party	$ 103,000	$ 158,000	$ 263,000	$ 360,000
Accounts receivable from related party	22,000		22,000		$ 10,000
Payments to related party	119,000	$ 140,000	182,000	$ 237,000
Accounts payable to related party	$ 0		$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	May 15, 2020	Apr. 30, 2020	Jul. 31, 2019
Subsequent Event
Debt Instrument, Annual Principal Payment		$ 3,074,000	$ 3,083,000
License Payment
Subsequent Event
Proceeds from License to be Received	$ 13,000,000
Pension
Subsequent Event
Lump Sum Payment for Pension Benefits	$ 2,000,000
Series A Senior Note
Subsequent Event
Debt Instrument, Interest Rate, Stated Percentage		3.96%
Debt Instrument, Maturity Date		Aug. 1, 2020
Debt Instrument, Face Amount		$ 18,500,000
Debt Instrument, Annual Principal Payment		$ 3,100,000
Series B Senior Note | Amended Note Agreement
Subsequent Event
Debt Instrument, Interest Rate, Stated Percentage	3.95%
Debt Instrument, Maturity Date	May 15, 2030
Debt Instrument, Face Amount	$ 10,000,000
Senior Note, Maximum Borrowing Capacity	$ 75,000,000