Oil-Dri Corporation of America (ODC) 10-Q 11 Mar 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jan. 31, 2021shares
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2021
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 Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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, City or Town	Chicago
Entity Address, State or Province	IL
City Area Code	312
Local Phone Number	321-1515
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Filer Category	Accelerated Filer
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	5,363,184
Common Class B
Entity Information
Entity Common Stock, Shares Outstanding	2,066,650

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2021	Jul. 31, 2020
Current Assets
Cash and cash equivalents	$ 30,708	$ 40,890
Accounts receivable, less allowance of   $1,062 and $1,078 at January 31, 2021 and July 31, 2020, respectively	38,896	34,911
Inventories	23,655	23,893
Prepaid repairs expense	5,808	5,662
Prepaid expenses and other assets	3,720	3,064
Total Current Assets	102,787	108,420
Property, Plant and Equipment
Cost	265,713	261,988
Less accumulated depreciation and amortization	(174,060)	(169,040)
Total Property, Plant and Equipment, Net	91,653	92,948
Other Assets
Goodwill	9,262	9,262
Other intangibles, net of accumulated amortization of $518 and $457 at January 31, 2021 and July 31, 2020, respectively	1,683	1,566
Customer list, net of accumulated amortization of $7,104 and $6,887 at January 31, 2021 and July 31, 2020, respectively	681	898
Deferred income taxes	6,554	7,302
Operating lease right-of-use assets	8,741	9,816
Other	6,836	5,670
Total Other Assets	33,757	34,514
Total Assets	228,197	235,882
Current Liabilities
Current maturities of notes payable	1,000	1,000
Accounts Payable	7,276	12,529
Dividends payable	1,799	1,808
Operating lease liabilities	2,043	2,170
Accrued expenses	22,811	28,700
Total Current Liabilities	34,929	46,207
Noncurrent Liabilities
Notes payable, net of unamortized debt issuance costs of $136 and $150 at January 31, 2021 and July 31, 2020, respectively	8,864	8,848
Deferred compensation	5,725	5,140
Pension and postretirement benefits	14,374	15,140
Long-term operating lease liabilities	8,165	9,135
Other	3,699	3,448
Total Noncurrent Liabilities	40,827	41,711
Total Liabilities	75,756	87,918
Stockholders’ Equity
Additional paid-in capital	46,890	44,993
Retained earnings	181,265	176,579
Noncontrolling interest	(220)	(174)
Accumulated Other Comprehensive Loss:
Pension and postretirement benefits	(11,665)	(11,994)
Cumulative translation adjustment	148	(260)
Total Accumulated Other Comprehensive Loss	(11,517)	(12,254)
Less Treasury Stock, at cost (3,161,292 Common and 346,491 Class B shares at January 31, 2021 and 3,090,230 Common and 335,816 Class B shares at July 31, 2020)	(65,071)	(62,269)
Total Stockholders' Equity	152,441	147,964
Total Liabilities & Stockholders’ Equity	228,197	235,882
Common Stock
Stockholders’ Equity
Common Stock, Value, Issued	853	845
Common Class B
Stockholders’ Equity
Common Stock, Value, Issued	$ 241	$ 244

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet Parenthetical - USD ($) $ in Thousands	Jan. 31, 2021	Jul. 31, 2020
Current Assets
Allowance for doubtful accounts	$ 1,062	$ 1,078
Other Assets
Accumulated amortization of other intangibles	518	457
Accumulated amortization of customer lists	7,104	6,887
Noncurrent Liabilities
Net unamortized debt issuance costs	$ 136	$ 150
Common Stock
Stockholder's Equity
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued	8,524,476	8,449,003
Treasury stock, common shares	3,161,292	3,090,230
Common Class B
Stockholder's Equity
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued	2,413,141	2,437,402
Treasury stock, common shares	346,491	335,816

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Net Sales	$ 74,500	$ 71,005	$ 150,597	$ 142,127
Cost of Sales	(56,328)	(52,047)	(112,121)	(103,234)
Gross Profit	18,172	18,958	38,476	38,893
Selling, General and Administrative Expenses	(13,928)	(13,085)	(29,055)	(28,899)
Income from Operations	4,244	5,873	9,421	9,994
Other Income (Expense)
Interest expense	(164)	(103)	(356)	(206)
Interest income	15	92	40	190
Other, net	1,062	(104)	807	(143)
Total Other Income (Expense), Net	913	(115)	491	(159)
Income Before Income Taxes	5,157	5,758	9,912	9,835
Income Tax Expense	(869)	(1,009)	(1,675)	(1,626)
Net Income	4,288	4,749	8,237	8,209
Net Loss Attributable to Noncontrolling Interest	(11)	(81)	(46)	(157)
Net Income Attributable to Oil-Dri	$ 4,299	$ 4,830	$ 8,283	$ 8,366
Common Stock
Net Income Per Share
Basic Common (in dollars per share)	$ 0.62	$ 0.68	$ 1.20	$ 1.19
Diluted Common (in dollars per share)	$ 0.61	$ 0.67	$ 1.17	$ 1.17
Average Shares Outstanding
Basic Common (in shares)	5,150	5,181	5,149	5,164
Diluted Common (in shares)	5,253	5,277	5,265	5,251
Dividends Declared Per Share (in dollars per share)	$ 0.2600	$ 0.2500	$ 0.5200	$ 0.5000
Common Class B
Net Income Per Share
Basic Common (in dollars per share)	0.47	0.51	0.89	0.89
Diluted Common (in dollars per share)	$ 0.46	$ 0.51	$ 0.88	$ 0.88
Average Shares Outstanding
Basic Common (in shares)	1,934	2,039	1,930	2,045
Diluted Common (in shares)	1,967	2,067	1,972	2,070
Dividends Declared Per Share (in dollars per share)	$ 0.1950	$ 0.1875	$ 0.3900	$ 0.3750

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Net Income Attributable to Oil-Dri	$ 4,299	$ 4,830	$ 8,283	$ 8,366
Other Comprehensive Income:
Pension and postretirement benefits (net of tax)	201	5,277	329	5,548
Cumulative translation adjustment	136	(54)	408	(98)
Other Comprehensive Income	337	5,223	737	5,450
Total Comprehensive Income	$ 4,636	$ 10,053	$ 9,020	$ 13,816

Consolidated Statements of Stoc

Consolidated Statements of Stockholders Equity Statement - USD ($) $ in Thousands	Total	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, 2019	$ 135,546	$ 1,086	$ 41,300	$ 164,756	$ (56,543)	$ (15,039)	$ (14)
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	8,366	$ 0	0	8,366	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(157)						(157)
Net Income, Including Portion Attributable to Noncontrolling Interest	8,209
Other comprehensive income	5,450	0	0	0	0	5,450	0
Dividends declared	(3,532)	0	0	(3,532)	0	0	0
Purchases of treasury stock	(523)	0	0	0	$ (523)	0	0
Purchases of treasury stock (in shares)					(15,621)
Net issuance of stock under long-term incentive plans	0	$ 2	70	0	$ (72)	0	0
Net issuance of stock under long-term incentive plans (in shares)		20,477			(2,150)
Amortization of restricted stock	1,779	$ 0	1,779	0	$ 0	0	0
Total, End of Period at Jan. 31, 2020	146,929	$ 1,088	43,149	169,590	$ (57,138)	(9,589)	(171)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2020		10,881,155
Treasury Stock, End of Period (in shares) at Jan. 31, 2020					(3,269,059)
Total, Beginning of Period at Oct. 31, 2019	137,936	$ 1,088	42,327	166,526	$ (57,103)	(14,812)	(90)
Common & Class B Stock, Beginning of Period (in shares) at Oct. 31, 2019		10,879,655
Treasury Stock, Beginning of Period (in shares) at Oct. 31, 2019					(3,268,057)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	4,830	$ 0	0	4,830	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(81)						(81)
Net Income, Including Portion Attributable to Noncontrolling Interest	4,749
Other comprehensive income	5,223	0	0	0	0	5,223	0
Dividends declared	(1,766)	0	0	(1,766)	0	0	0
Purchases of treasury stock	(23)	0	0	0	$ (23)	0	0
Purchases of treasury stock (in shares)					602
Net issuance of stock under long-term incentive plans	0	$ 0	(12)	0	$ 12	0	0
Net issuance of stock under long-term incentive plans (in shares)		1,500			(400)
Amortization of restricted stock	810	$ 0	810	0	$ 0	0	0
Total, End of Period at Jan. 31, 2020	146,929	$ 1,088	43,149	169,590	$ (57,138)	(9,589)	(171)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2020		10,881,155
Treasury Stock, End of Period (in shares) at Jan. 31, 2020					(3,269,059)
Total, Beginning of Period at Jul. 31, 2020	147,964	$ 1,089	44,993	176,579	$ (62,269)	(12,254)	(174)
Common & Class B Stock, Beginning of Period (in shares) at Jul. 31, 2020		10,886,405
Treasury Stock, Beginning of Period (in shares) at Jul. 31, 2020					(3,426,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	8,283	$ 0	0	8,283	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(46)						(46)
Net Income, Including Portion Attributable to Noncontrolling Interest	8,237
Other comprehensive income	737	0	0	0	0	737	0
Dividends declared	(3,597)	0	0	(3,597)	0	0	0
Purchases of treasury stock	(2,189)	0	0	0	$ (2,189)	0	0
Purchases of treasury stock (in shares)					(60,587)
Net issuance of stock under long-term incentive plans	1	$ 5	607	0	$ (613)	0	0
Net issuance of stock under long-term incentive plans (in shares)		51,212			(21,150)
Amortization of restricted stock	1,290	$ 0	1,290	0	$ 0	0	0
Total, End of Period at Jan. 31, 2021	152,441	$ 1,094	46,890	181,265	$ (65,071)	(11,517)	(220)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2021		10,937,617
Treasury Stock, End of Period (in shares) at Jan. 31, 2021					(3,507,783)
Total, Beginning of Period at Oct. 31, 2020	150,316	$ 1,092	45,779	178,761	$ (63,253)	(11,854)	(209)
Common & Class B Stock, Beginning of Period (in shares) at Oct. 31, 2020		10,919,617
Treasury Stock, Beginning of Period (in shares) at Oct. 31, 2020					(3,453,239)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	4,299	$ 0	0	4,299	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(11)						(11)
Net Income, Including Portion Attributable to Noncontrolling Interest	4,288
Other comprehensive income	337	0	0	0	0	337	0
Dividends declared	1,795	0	0	(1,795)	0	0	0
Purchases of treasury stock	(1,211)	0	0	0	$ (1,211)	0	0
Purchases of treasury stock (in shares)					(33,594)
Net issuance of stock under long-term incentive plans	0	$ 2	(605)	0	$ 607	0	0
Net issuance of stock under long-term incentive plans (in shares)		18,000			(20,950)
Amortization of restricted stock	506	$ 0	506	0	$ 0	0	0
Total, End of Period at Jan. 31, 2021	$ 152,441	$ 1,094	$ 46,890	$ 181,265	$ (65,071)	$ (11,517)	$ (220)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2021		10,937,617
Treasury Stock, End of Period (in shares) at Jan. 31, 2021					(3,507,783)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 8,237	$ 8,209
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,065	6,929
Stock-based compensation	1,290	1,779
Deferred income taxes	742	312
Provision for bad debts and cash discounts	(38)	221
Loss on the sale of fixed assets	12	116
Curtailment gain on SERP Plan	0	1,296
(Increase) Decrease in assets:
Accounts receivable	(3,798)	(434)
Inventories	412	1,508
Prepaid expenses	(760)	1,561
Other assets	(266)	731
Increase (Decrease) in liabilities:
Accounts payable	(3,901)	2,661
Accrued expenses	(5,201)	(1,602)
Deferred compensation	585	163
Pension and postretirement benefits	(437)	(5,536)
Other liabilities	(857)	(1,052)
Total Adjustments	(5,152)	6,061
Net Cash Provided by Operating Activities	3,085	14,270
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(7,598)	(7,286)
Proceeds from sale of property, plant, and equipment	3	0
Net Cash Used in Investing Activities	(7,595)	(7,286)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on notes payable	0	(3,083)
Dividends paid	(3,606)	(3,527)
Purchase of treasury stock	(2,189)	(523)
Net Cash Used in Financing Activities	(5,795)	(7,133)
Effect of exchange rate changes on Cash and Cash Equivalents	123	(144)
Net Decrease in Cash and Cash Equivalents	(10,182)	(293)
Cash and Cash Equivalents, Beginning of Period	40,890	21,862
Cash and Cash Equivalents, End of Period	30,708	21,569
Supplemental disclosure of non-cash investing and financing activities:
Capital expenditures accrued, but not paid	829	628
Cash dividends declared and accrued, but not paid	$ 1,799	$ 1,766

Basis of Statement Presentation

Basis of Statement Presentation Other Noncurrent Liabilities - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2021	Dec. 31, 2020
Liabilities, Noncurrent [Abstract]
CARES Act, Current Payroll Tax Deferral	$ 400,000	$ 2,300,000

Basis of Statement Presentati_2

Basis of Statement Presentation	6 Months Ended
	Jan. 31, 2021
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, 2020 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 six months ended January 31, 2021 are not necessarily an indication of the results that may be expected for the fiscal year ending July 31, 2021. In March 2020, the World Health Organization declared the recent novel coronavirus outbreak (“the coronavirus” or “COVID-19”) a pandemic. Despite its continued spread and the adverse effects of COVID-19 on the overall economy and certain of the industries we serve, we have not experienced a significant decline in customer orders and sales in the first six months of fiscal year 2021. 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 2021. Reclassification Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These immaterial reclassifications had no effect on the previously reported net income. 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, 2020 have not materially changed. The 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, Leases , 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 $406,000 and $247,000 as of January 31, 2021 and July 31, 2020, respectively. This liability is reported in Other within Accrued Expenses on the unaudited Condensed Consolidated Balance Sheet. Revenue recognized during the six months ended January 31, 2021 that was included in the liability for advance payments at the beginning of the period was $197,000. 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. Other Current and Noncurrent Liabilities 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 $400,000 of payroll taxes for the quarter ended January 31, 2021 (through December 2020) for an aggregate amount of approximately $2,300,000 in payroll taxes in calendar year 2020. The $2,300,000 will be paid equally in the fourth quarters of calendar years 2021 and 2022. The current portion of the accrual for these payroll taxes is included in Other within Accrued Expenses and the noncurrent portion of the accrual is included in Other within Noncurrent Liabilities on the unaudited Condensed Consolidated Balance Sheet.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jan. 31, 2021
NEW ACCOUNTING PRONOUNCEMENTS [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS AND REGULATIONS 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 have debt agreements that reference LIBOR and to the extent that those agreements are modified to replace LIBOR with another interest rate index, ASC 848 will allow us to account for the modification as a continuation of the existing contract without additional analysis. 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	6 Months Ended
	Jan. 31, 2021
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The composition of inventories is as follows (in thousands): January 31, July 31, Finished goods $ 14,231 $ 14,500 Packaging 5,029 4,587 Other 4,395 4,806 Total Inventories $ 23,655 $ 23,893 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 January 31, 2021 and July 31, 2020 were $772,000 and $926,000, respectively. The obsolescence reserve decreased due to better management of inventory. Other inventories includes a variety of items including clay, additives, fragrances and other supplies and decreased from July 31, 2020 due to increased production. Conversely, packaging inventories increased from July 31, 2020 due to anticipated sales demand.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 31, 2021
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 $6,000 of cash equivalents as of January 31, 2021 and July 31, 2020, 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 January 31, 2021 and July 31, 2020 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 $11,541,000 and $11,631,000 as of January 31, 2021 and July 31, 2020, 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 the unaudited Condensed Consolidated Financial Statements for further information about goodwill and other intangible assets.

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Notes)	6 Months Ended
	Jan. 31, 2021
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 $150,000 and $249,000 in the second quarter of fiscal years 2021 and 2020, respectively. Intangible amortization expense was $305,000 and $416,000 in the first six months of fiscal years 2021 and 2020. Estimated intangible amortization for the remainder of fiscal year 2021 is $290,000. Estimated intangible amortization for the next five fiscal years is as follows (in thousands): 2022 $ 433 2023 $ 227 2024 $ 91 2025 $ 66 2026 $ 64 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 2020 and no impairment was identified. There have been no triggering events that would indicate a new impairment analysis is needed. A lthough we have not identified any triggering events relating to goodwill or our intangibles, the ultimate effects of COVID-19 could change this assessment in the future.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jan. 31, 2021
Payables and Accruals [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current	ACCRUED EXPENSES Accrued expenses is as follows (in thousands): January 31, July 31, Salaries, Wages, Commissions and Employee Benefits $ 8,825 $ 14,798 Trade promotions and advertising 1,537 2,349 Freight 2,714 1,313 Real Estate Tax 222 1,658 Other 9,513 8,582 $ 22,811 $ 28,700 The decrease in salaries, wages, commissions and employee benefits relates primarily to the payment of annual discretionary bonuses during the first quarter of fiscal year 2021. The accrual for trade promotions and advertising is lower at January 31, 2021 than at July 31, 2020 due to a shift in timing of advertising programs and expense. Freight rates increased during the six months ended January 31, 2021 resulting in a higher accrual at January 31, 2021. Accrued real estate tax at January 31, 2021 is lower than at July 31, 2020 due to timing of payments as well as an adjustment to account for lower real estate taxes for one of our facilities.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jan. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies	OTHER CONTINGENCIESWe are party to various legal actions from time to time that are ordinary in nature and incidental to the operation of our business, including ongoing litigation. While it is not possible at this time to determine with certainty the ultimate outcome of these or other lawsuits, we believe that none of the pending proceedings will have a material adverse effect on our business, financial condition, results of operations or cash flows. In June 2020, the Company received notice from a former service provider alleging a breach of contract regarding the payment of a contingency fee. Such party subsequently, in July 2020, filed a lawsuit seeking to require the Company to participate in binding mediation regarding this matter. Although we believe this claim to be without merit, as of July 31, 2020, we have determined a reasonable estimate of this liability within a range, with no amount within that range being a better estimate than any other amount, and have therefore recorded that estimate in Other within Accrued expenses. There have been no changes during the six months ended January 31, 2021 that would have changed this estimate. We believe that any loss related to this matter is unlikely to be material. However, the outcome of this legal matter is subject to significant uncertainties. The ability to predict the ultimate outcome of this legal matter involves judgments, estimates and inherent uncertainties. The actual outcome could differ materially from management’s estimates.

Leases (Notes)

Leases (Notes)	6 Months Ended
	Jan. 31, 2021
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. To determine the present value of the lease liability, we use an incremental borrowing rate, which is defined as the rate of interest that the Company 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. Further information about our accounting policy for leases is included in Note 1 of the Notes to the unaudited Condensed Consolidated Financial Statements. We have no material finance leases, and variable costs for operating leases are immaterial for the second quarter of fiscal year 2021. 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 January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Operating Lease Cost Operating lease cost $ 657 $ 517 $ 1,352 $ 1,034 Short-term operating lease cost 176 195 362 400 Supplemental cash flow information related to leases was as follows (in thousands): For the Three Months Ended January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 567 $ 430 $ 1,169 $ 855 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: January 31, 2021 July 31, 2020 Weighted-average remaining lease term - operating leases 9.5 years 9.4 years Weighted-average discount rate - operating leases 3.93% 3.87% 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 January 31, (in thousands): 2021 $ 1,188 2022 2,092 2023 1,121 2024 981 2025 900 Thereafter 6,140 Total 12,422 Less: imputed interest (2,214) Net lease obligation $ 10,208

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Jan. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [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 components of net periodic pension and postretirement health benefit costs were as follows: Pension Benefits (in thousands) For the Three Months Ended January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Service cost $ — $ 363 $ — $ 851 Interest cost 583 503 583 1,012 Expected return on plan assets (1,444) (716) (1,444) (1,414) Amortization of: Other actuarial loss 265 313 435 670 Net periodic benefit cost $ (596) $ 463 $ (426) $ 1,119 Postretirement Health Benefits (in thousands) For the Three Months Ended January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Service cost $ 34 $ 28 $ 69 $ 58 Interest cost 12 20 25 41 Amortization of: Prior service costs (2) (2) (3) (3) Other actuarial loss 2 — 2 — Net periodic benefit cost $ 46 $ 46 $ 93 $ 96 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, and did not voluntarily make, a contribution to the Pension Plan during the first six months of fiscal year 2021. We have no minimum funding requirements for the remainder of fiscal year 2021. 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 Six Months Ended January 31, 2021 2020 2021 2020 Discount rate for net periodic benefit cost 2.14 % 3.35 % 1.63 % 2.93 % Rate of increase in compensation levels — % 3.50 % — — Long-term expected rate of return on assets 6.50 % 7.00 % — — The medical cost trend assumption for postretirement health benefits was 7.20%. 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 SERP was terminated effective June 30, 2020. Any payment of benefits that would otherwise have been payable pursuant to the SERP plan on or after June 30, 2021 will instead be paid to each participant in the form of one lump sum, with such lump sum payment payable no earlier than June 30, 2021 and no later than June 8, 2022.

Operating Segments

Operating Segments	6 Months Ended
	Jan. 31, 2021
Segment Reporting [Abstract]
Operating Segment Disclosure	OPERATING SEGMENTSWe 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; e-commerce retailers; 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, 2020. 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 Six Months Ended January 31, Product 2021 2020 2021 2020 Cat Litter $ 7,612 $ 7,247 $ 81,879 $ 74,970 Industrial and Sports — — 13,972 15,012 Agricultural and Horticultural 12,033 10,296 — — Bleaching Clay and Fluids Purification 25,406 24,605 941 1,196 Animal Health and Nutrition 8,754 8,801 — — Net Sales $ 53,805 $ 50,949 $ 96,792 $ 91,178 Business to Business Products Group Retail and Wholesale Products Group For the Three Months Ended January 31, Product 2021 2020 2021 2020 Cat Litter $ 3,736 $ 3,550 $ 41,085 $ 38,591 Industrial and Sports — — 6,710 7,412 Agricultural and Horticultural 5,046 4,577 — — Bleaching Clay and Fluids Purification 12,765 12,382 422 531 Animal Health and Nutrition 4,736 3,962 — — Net Sales $ 26,283 $ 24,471 $ 48,217 $ 46,534 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. 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 January 31, 2021 July 31, 2020 (in thousands) Business to Business Products Group $ 71,528 $ 72,987 Retail and Wholesale Products Group 101,327 95,838 Unallocated Assets 55,342 67,057 Total Assets $ 228,197 $ 235,882 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. For the Six Months Ended January 31, Net Sales Income 2021 2020 2021 2020 (in thousands) Business to Business Products Group $ 53,805 $ 50,949 $ 15,859 $ 15,848 Retail and Wholesale Products Group 96,792 91,178 8,589 8,968 Net Sales $ 150,597 $ 142,127 Corporate Expenses (15,027) (14,822) Income from Operations 9,421 9,994 Total Other Income (Expense), Net 491 (159) Income before Income Taxes 9,912 9,835 Income Tax Expense (1,675) (1,626) Net Income 8,237 8,209 Net Loss Attributable to Noncontrolling Interest (46) (157) Net Income Attributable to Oil-Dri $ 8,283 $ 8,366 For the Three Months Ended January 31, Net Sales Income 2021 2020 2021 2020 (in thousands) Business to Business Products Group $ 26,283 $ 24,471 $ 7,663 $ 7,552 Retail and Wholesale Products Group 48,217 46,534 4,111 5,608 Net Sales $ 74,500 $ 71,005 Corporate Expenses (7,530) (7,287) Income from Operations 4,244 5,873 Total Other Income (Expense), Net 913 (115) Income before Income Taxes 5,157 5,758 Income Tax Expense (869) (1,009) Net Income 4,288 4,749 Net Loss Attributable to Noncontrolling Interest (11) (81) Net Income Attributable to Oil-Dri $ 4,299 $ 4,830

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jan. 31, 2021
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. As of January 31, 2021, there were 357,096 shares available for future grants under this plan. Restricted Stock All of our non-vested restricted stock as of January 31, 2021 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 18,000 and 1,500 restricted shares of Common Stock granted during the second quarter of fiscal years 2021 and 2020, respectively. Stock-based compensation expense was $506,000 and $810,000 for the second quarter of fiscal years 2021 and 2020, respectively. Stock-based compensation expense was $1,290,000 and $1,779,000 for the first six months of fiscal years 2021 and 2020, respectively. A summary of restricted stock transactions is shown below: Restricted Shares Weighted Average Grant Date Fair Value Non-vested restricted stock outstanding at July 31, 2020 390 $ 33.19 Granted 51 $ 35.80 Vested (60) $ 33.05 Forfeitures (21) $ 28.96 Non-vested restricted stock outstanding at January 31, 2021 360 $ 33.83

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income (Notes)	6 Months Ended
	Jan. 31, 2021
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 January 31, 2021 (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2020 $ (11,994) $ (260) $ (12,254) Other comprehensive income before reclassifications, net of tax — 408 408 Amounts reclassified from accumulated other comprehensive income, net of tax 329 (a) — 329 Net current-period other comprehensive income, net of tax 329 408 737 Balance as of January 31, 2021 $ (11,665) $ 148 $ (11,517) (a) Amount is net of tax expense of $104,060. Amount is included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 9 of the Notes to the unaudited Condensed Consolidated Financial Statements for further information.

Related Party Transactions (Not

Related Party Transactions (Notes)	6 Months Ended
	Jan. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	RELATED PARTY TRANSACTIONS One member of our Board of Directors (the “Board”) retired from the role of President and Chief Executive Officer of a customer of ours in September 2019 and is currently party to a post-employment agreement with the customer. Total net sales to that customer, including sales to subsidiaries of that customer, were $71,000 and $49,000 for the second quarter of fiscal years 2021 and 2020, respectively and were $181,000 and $160,000 for the first six months of fiscal years 2021 and 2020, respectively. Outstanding accounts receivable from that customer, and its subsidiaries, were $21,000 at January 31, 2021. There were no outstanding accounts receivable from that customer, and its subsidiaries, as of July 31, 2020. One member of our Board is currently the President and Chief Executive Officer of a vendor of ours. Total payments to this vendor for fees and cost reimbursements were $109,000 and $25,000 for the second quarter of fiscal years 2021 and 2020, respectively and were $201,000 and $63,000 for the first six months of fiscal years 2021 and 2020, respectively. There were no outstanding accounts payable to that vendor as of January 31, 2021 or July 31, 2020.

Basis of Statement Presentati_3

Basis of Statement Presentation Level 2 (Policies)	6 Months Ended
	Jan. 31, 2021
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, Leases , 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.
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 $406,000 and $247,000 as of January 31, 2021 and July 31, 2020, respectively. This liability is reported in Other within Accrued Expenses on the unaudited Condensed Consolidated Balance Sheet. Revenue recognized during the six months ended January 31, 2021 that was included in the liability for advance payments at the beginning of the period was $197,000. 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
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.
Other Noncurrent Liabilities	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 $400,000 of payroll taxes for the quarter ended January 31, 2021 (through December 2020) for an aggregate amount of approximately $2,300,000 in payroll taxes in calendar year 2020. The $2,300,000 will be paid equally in the fourth quarters of calendar years 2021 and 2022. The current portion of the accrual for these payroll taxes is included in Other within Accrued Expenses and the noncurrent portion of the accrual is included in Other within Noncurrent Liabilities on the unaudited Condensed Consolidated Balance Sheet.

Inventories Level 2 (Policies)

Inventories Level 2 (Policies)	6 Months Ended
	Jan. 31, 2021
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)	6 Months Ended
	Jan. 31, 2021
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)	6 Months Ended
	Jan. 31, 2021
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; e-commerce retailers; 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, 2020.

Inventories Level 3 (Tables)

Inventories Level 3 (Tables)	6 Months Ended
	Jan. 31, 2021
Inventory Disclosure [Abstract]
Inventories	The composition of inventories is as follows (in thousands): January 31, July 31, Finished goods $ 14,231 $ 14,500 Packaging 5,029 4,587 Other 4,395 4,806 Total Inventories $ 23,655 $ 23,893

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jan. 31, 2021
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): 2022 $ 433 2023 $ 227 2024 $ 91 2025 $ 66 2026 $ 64

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jan. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	Accrued expenses is as follows (in thousands): January 31, July 31, Salaries, Wages, Commissions and Employee Benefits $ 8,825 $ 14,798 Trade promotions and advertising 1,537 2,349 Freight 2,714 1,313 Real Estate Tax 222 1,658 Other 9,513 8,582 $ 22,811 $ 28,700

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 31, 2021
Leases [Abstract]
Lease cost	We have no material finance leases, and variable costs for operating leases are immaterial for the second quarter of fiscal year 2021. 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 January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Operating Lease Cost Operating lease cost $ 657 $ 517 $ 1,352 $ 1,034 Short-term operating lease cost 176 195 362 400 Supplemental cash flow information related to leases was as follows (in thousands): For the Three Months Ended January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 567 $ 430 $ 1,169 $ 855 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: January 31, 2021 July 31, 2020 Weighted-average remaining lease term - operating leases 9.5 years 9.4 years Weighted-average discount rate - operating leases 3.93% 3.87%
Operating lease payments due within next twelve months as of January 31, 2021	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 January 31, (in thousands): 2021 $ 1,188 2022 2,092 2023 1,121 2024 981 2025 900 Thereafter 6,140 Total 12,422 Less: imputed interest (2,214) Net lease obligation $ 10,208

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jan. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [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 January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Service cost $ — $ 363 $ — $ 851 Interest cost 583 503 583 1,012 Expected return on plan assets (1,444) (716) (1,444) (1,414) Amortization of: Other actuarial loss 265 313 435 670 Net periodic benefit cost $ (596) $ 463 $ (426) $ 1,119 Postretirement Health Benefits (in thousands) For the Three Months Ended January 31, For the Six Months Ended January 31, 2021 2020 2021 2020 Service cost $ 34 $ 28 $ 69 $ 58 Interest cost 12 20 25 41 Amortization of: Prior service costs (2) (2) (3) (3) Other actuarial loss 2 — 2 — Net periodic benefit cost $ 46 $ 46 $ 93 $ 96
Schedule of Assumptions Used	Assumptions used in the previous calculations were as follows: Pension Benefits Postretirement Health Benefits For the Three and Six Months Ended January 31, 2021 2020 2021 2020 Discount rate for net periodic benefit cost 2.14 % 3.35 % 1.63 % 2.93 % Rate of increase in compensation levels — % 3.50 % — — Long-term expected rate of return on assets 6.50 % 7.00 % — — The medical cost trend assumption for postretirement health benefits was 7.20%. 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)	6 Months Ended
	Jan. 31, 2021
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 Six Months Ended January 31, Product 2021 2020 2021 2020 Cat Litter $ 7,612 $ 7,247 $ 81,879 $ 74,970 Industrial and Sports — — 13,972 15,012 Agricultural and Horticultural 12,033 10,296 — — Bleaching Clay and Fluids Purification 25,406 24,605 941 1,196 Animal Health and Nutrition 8,754 8,801 — — Net Sales $ 53,805 $ 50,949 $ 96,792 $ 91,178 Business to Business Products Group Retail and Wholesale Products Group For the Three Months Ended January 31, Product 2021 2020 2021 2020 Cat Litter $ 3,736 $ 3,550 $ 41,085 $ 38,591 Industrial and Sports — — 6,710 7,412 Agricultural and Horticultural 5,046 4,577 — — Bleaching Clay and Fluids Purification 12,765 12,382 422 531 Animal Health and Nutrition 4,736 3,962 — — Net Sales $ 26,283 $ 24,471 $ 48,217 $ 46,534
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. 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 January 31, 2021 July 31, 2020 (in thousands) Business to Business Products Group $ 71,528 $ 72,987 Retail and Wholesale Products Group 101,327 95,838 Unallocated Assets 55,342 67,057 Total Assets $ 228,197 $ 235,882 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. For the Six Months Ended January 31, Net Sales Income 2021 2020 2021 2020 (in thousands) Business to Business Products Group $ 53,805 $ 50,949 $ 15,859 $ 15,848 Retail and Wholesale Products Group 96,792 91,178 8,589 8,968 Net Sales $ 150,597 $ 142,127 Corporate Expenses (15,027) (14,822) Income from Operations 9,421 9,994 Total Other Income (Expense), Net 491 (159) Income before Income Taxes 9,912 9,835 Income Tax Expense (1,675) (1,626) Net Income 8,237 8,209 Net Loss Attributable to Noncontrolling Interest (46) (157) Net Income Attributable to Oil-Dri $ 8,283 $ 8,366 For the Three Months Ended January 31, Net Sales Income 2021 2020 2021 2020 (in thousands) Business to Business Products Group $ 26,283 $ 24,471 $ 7,663 $ 7,552 Retail and Wholesale Products Group 48,217 46,534 4,111 5,608 Net Sales $ 74,500 $ 71,005 Corporate Expenses (7,530) (7,287) Income from Operations 4,244 5,873 Total Other Income (Expense), Net 913 (115) Income before Income Taxes 5,157 5,758 Income Tax Expense (869) (1,009) Net Income 4,288 4,749 Net Loss Attributable to Noncontrolling Interest (11) (81) Net Income Attributable to Oil-Dri $ 4,299 $ 4,830

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jan. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Stock Transactions	A summary of restricted stock transactions is shown below: Restricted Shares Weighted Average Grant Date Fair Value Non-vested restricted stock outstanding at July 31, 2020 390 $ 33.19 Granted 51 $ 35.80 Vested (60) $ 33.05 Forfeitures (21) $ 28.96 Non-vested restricted stock outstanding at January 31, 2021 360 $ 33.83

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jan. 31, 2021
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 January 31, 2021 (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2020 $ (11,994) $ (260) $ (12,254) Other comprehensive income before reclassifications, net of tax — 408 408 Amounts reclassified from accumulated other comprehensive income, net of tax 329 (a) — 329 Net current-period other comprehensive income, net of tax 329 408 737 Balance as of January 31, 2021 $ (11,665) $ 148 $ (11,517) (a) Amount is net of tax expense of $104,060. Amount is included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 9 of the Notes to the unaudited Condensed Consolidated Financial Statements for further information.

Basis of Statement Presentati_4

Basis of Statement Presentation Revenue Recognition (Details) - Payments In Advance - USD ($)	6 Months Ended
	Jan. 31, 2021	Jul. 31, 2020
Deferred Revenue Arrangement
Liability for Payments in Advance	$ 406,000	$ 247,000
Payments in Advance, Revenue Recognized	$ 197,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jul. 31, 2020
Inventory
Finished goods	$ 14,231	$ 14,500
Packaging	5,029	4,587
Other	4,395	4,806
Total Inventories	$ 23,655	$ 23,893

Inventories Narrative (Details)

Inventories Narrative (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Inventory
Inventory obsolescence reserve	$ 772,000	$ 926,000

Fair Value Measurements Narrati

Fair Value Measurements Narrative (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash Equivalents	$ 6,000	$ 6,000
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Notes Payable, Fair Value	$ 11,541,000	$ 11,631,000

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Details) $ in Thousands	Jan. 31, 2021USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense
2022	$ 433
2023	227
2024	91
2025	66
2026	$ 64

Goodwill and Other Intangible_4

Goodwill and Other Intangibles Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Finite-Lived Intangible Assets
Amortization of intangible assets	$ 150,000	$ 249,000	$ 305,000	$ 416,000
Amortization expense for remainder of current fiscal year	290,000		290,000
Indefinite-lived trademarks	$ 376,000		$ 376,000
Goodwill impairment loss					$ 0

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jul. 31, 2020
Payables and Accruals [Abstract]
Salaries, Wages, Commissions and Employee Benefits	$ 8,825	$ 14,798
Trade promotions and advertising	1,537	2,349
Freight	2,714	1,313
Real Estate Tax	222	1,658
Other	9,513	8,582
Accrued expenses	$ 22,811	$ 28,700

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Lease, Cost
Operating lease cost	$ 657	$ 517	$ 1,352	$ 1,034
Short-term operating lease cost	176	195	362	400
Operating cash flows from operating leases	$ 567	$ 430	$ 1,169	$ 855
Weighted-average remaining lease term - operating leaes	9 years 6 months		9 years 6 months		9 years 4 months 24 days
Weighted-average discount rate - operating leases	3.93%		3.93%		3.87%
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity
2021	$ 1,188		$ 1,188
2022	2,092		2,092
2023	1,121		1,121
2024	981		981
2025	900		900
Thereafter	6,140		6,140
Total	12,422		12,422
Less: imputed interest	(2,214)		(2,214)
Net lease obligation	$ 10,208		$ 10,208

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 0	$ 363	$ 0	$ 851
Interest cost	583	503	583	1,012
Expected return on plan assets	(1,444)	(716)	(1,444)	(1,414)
Amortization of Other actuarial loss	265	313	435	670
Net periodic benefit cost	(596)	463	(426)	1,119
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	34	28	69	58
Interest cost	12	20	25	41
Amortization of Prior service costs	(2)	(2)	(3)	(3)
Amortization of Other actuarial loss	2	0	2	0
Net periodic benefit cost	$ 46	$ 46	$ 93	$ 96

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits Assumptions (Details)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate for net periodic benefit cost	2.14%	3.35%
Rate of increase in compensation levels	0.00%	3.50%
Long-term expected rate of return on assets	6.50%	7.00%
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate for net periodic benefit cost	1.63%	2.93%
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)	6 Months Ended
	Jan. 31, 2021USD ($)
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Estimated contributions in remainder of current fiscal year	$ 0
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Medical Cost Trend Assumption	7.20%
Ultimate Health Care Cost Trend Rate	4.50%
Year that Rate Reaches Ultimate Trend Rate	2038

Operating Segments Disaggregati

Operating Segments Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Revenue by Principal Product
Net Sales	$ 74,500	$ 71,005	$ 150,597	$ 142,127
Business to Business Products
Revenue by Principal Product
Net Sales	26,283	24,471	53,805	50,949
Business to Business Products | Cat Litter
Revenue by Principal Product
Net Sales	3,736	3,550	7,612	7,247
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	5,046	4,577	12,033	10,296
Business to Business Products | Bleaching Clay and Fluids Purification
Revenue by Principal Product
Net Sales	12,765	12,382	25,406	24,605
Business to Business Products | Animal Health and Nutrition
Revenue by Principal Product
Net Sales	4,736	3,962	8,754	8,801
Retail and Wholesale Products
Revenue by Principal Product
Net Sales	48,217	46,534	96,792	91,178
Retail and Wholesale Products | Cat Litter
Revenue by Principal Product
Net Sales	41,085	38,591	81,879	74,970
Retail and Wholesale Products | Industrial and Sports
Revenue by Principal Product
Net Sales	6,710	7,412	13,972	15,012
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	422	531	941	1,196
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		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Segment Reporting Information
Assets	$ 228,197		$ 228,197		$ 235,882
Net Sales	74,500	$ 71,005	150,597	$ 142,127
Corporate Expenses	(7,530)	(7,287)	(15,027)	(14,822)
Income from Operations	4,244	5,873	9,421	9,994
Total Other Income (Expense), Net	913	(115)	491	(159)
Income before Income Taxes	5,157	5,758	9,912	9,835
Income Tax Expense	(869)	(1,009)	(1,675)	(1,626)
Net Income	4,288	4,749	8,237	8,209
Net Loss Attributable to Noncontrolling Interest	(11)	(81)	(46)	(157)
Net Income Attributable to Oil-Dri	4,299	4,830	8,283	8,366
Business to Business Products
Segment Reporting Information
Assets	71,528		71,528		72,987
Net Sales	26,283	24,471	53,805	50,949
Segment Income	7,663	7,552	15,859	15,848
Retail and Wholesale Products
Segment Reporting Information
Assets	101,327		101,327		95,838
Net Sales	48,217	46,534	96,792	91,178
Segment Income	4,111	$ 5,608	8,589	$ 8,968
Unallocated Assets
Segment Reporting Information
Assets	$ 55,342		$ 55,342		$ 67,057

Operating Segments Narrative (D

Operating Segments Narrative (Details)	6 Months Ended
	Jan. 31, 2021segment
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	6 Months Ended
	Jan. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award
Non-vested restricted stock outstanding, beginning balance | shares	390
Granted, number of shares | shares	51
Vested, number of shares | shares	(60)
Forfeitures, number of shares | shares	(21)
Non-vested restricted stock outstanding, ending balance | shares	360
Non-vested restricted stock outstanding, weighted average grant date fair value, beginning balance | $ / shares	$ 33.19
Granted, weighted average grant date fair value | $ / shares	35.80
Vested, weighted average grant date fair value | $ / shares	33.05
Forfeitures, weighted average grant date fair value | $ / shares	28.96
Non-vested restricted stock outstanding, weighted average grant date fair value, ending balance | $ / shares	$ 33.83

Stock-Based Compensation Narrat

Stock-Based Compensation Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted, number of shares			51,000
2006 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number Authorized (shares)	1,219,500		1,219,500
Number Available (shares)	357,096		357,096
2006 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period, Minimum (years)			one
Award Vesting Period, Maximum (years)			five years
Share-based Compensation Expense	$ 506,000	$ 810,000	$ 1,290,000	$ 1,779,000
2006 Plan | Restricted Stock | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted, number of shares	18,000	1,500

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			$ (12,254)
Other comprehensive income before reclassifications, net of tax			408
Amounts reclassified from accumulated other comprehensive income, net of tax			329
Net current-period other comprehensive income, net of tax	$ (337)	$ (5,223)	(737)	$ (5,450)
Accumulated Other Comprehensive (Loss) Income, Balance, ending	(11,517)		(11,517)
Pension and Postretirement Health Benefits
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			(11,994)
Other comprehensive income before reclassifications, net of tax			0
Amounts reclassified from accumulated other comprehensive income, net of tax			329
Net current-period other comprehensive income, net of tax			(329)
Accumulated Other Comprehensive (Loss) Income, Balance, ending	(11,665)		(11,665)
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			(260)
Other comprehensive income before reclassifications, net of tax			408
Amounts reclassified from accumulated other comprehensive income, net of tax			0
Net current-period other comprehensive income, net of tax			(408)
Accumulated Other Comprehensive (Loss) Income, Balance, ending	$ 148		$ 148

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive (Loss) Income Narrative (Details)	6 Months Ended
	Jan. 31, 2021USD ($)
Accumulated Other Comprehensive (Loss) Income
Tax for reclassification adjustment from AOCI for pension and other postretirement benefits	$ 104,060

Related Party Transactions (Det

Related Party Transactions (Details) - Director - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Related Party Transaction
Net sales to related party	$ 71,000	$ 49,000	$ 181,000	$ 160,000
Accounts receivable from related party	21,000		21,000		$ 0
Payments to related party	109,000	$ 25,000	201,000	$ 63,000
Accounts payable to related party	$ 0		$ 0		$ 0