Oil-Dri Corporation of America (ODC) 10-Q 9 Mar 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jan. 31, 2023 shares
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2023
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	2023
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 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	5,119,546
Common Class B
Entity Information
Entity Common Stock, Shares Outstanding	2,045,415

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Current Assets
Cash and cash equivalents	$ 13,951	$ 16,298
Accounts receivable, net allowances of   $1,037 and $922 at January 31, 2023 and July 31, 2022, respectively	57,179	51,683
Inventories, net	37,938	35,562
Prepaid repairs	8,107	7,474
Prepaid expenses and other assets	2,413	3,664
Total Current Assets	119,588	114,681
Property, Plant and Equipment
Cost	292,615	283,240
Less accumulated depreciation and amortization	(180,936)	(175,374)
Total Property, Plant and Equipment, Net	111,679	107,866
Other Assets
Goodwill	3,618	3,618
Trademarks and patents, net of accumulated amortization of $550 and $524 at January 31, 2023 and July 31, 2022, respectively	1,476	1,445
Customer list, net of accumulated amortization of $7,685 and $7,608 at January 31, 2023 and July 31, 2022, respectively	100	177
Deferred income taxes	3,511	3,677
Operating lease right-of-use assets	9,460	10,601
Other	6,612	7,546
Total Other Assets	24,777	27,064
Total Assets	256,044	249,611
Current Liabilities
Current maturities of notes payable	1,000	1,000
Accounts Payable	11,048	13,401
Dividends payable	1,858	1,851
Operating lease liabilities	1,850	2,178
Accrued expenses	33,785	30,085
Total Current Liabilities	49,541	48,515
Noncurrent Liabilities
Notes payable, net of unamortized debt issuance costs of $191 and $202 at January 31, 2023 and July 31, 2022, respectively	31,809	31,798
Deferred compensation	4,441	4,559
Pension and postretirement benefits	434	798
Long-term operating lease liabilities	8,919	9,749
Other	3,926	3,843
Total Noncurrent Liabilities	49,529	50,747
Total Liabilities	99,070	99,262
Stockholders’ Equity
Additional paid-in capital	54,328	52,467
Retained earnings	184,133	178,754
Noncontrolling interest	(390)	(369)
Accumulated Other Comprehensive Loss:
Pension and postretirement benefits	(2,255)	(2,242)
Cumulative translation adjustment	(70)	59
Total Accumulated Other Comprehensive Loss	(2,325)	(2,183)
Less Treasury Stock, at cost (3,624,677 Common and 351,641 Class B shares at January 31, 2023 and 3,609,938 Common and 351,641 Class B shares at July 31, 2022)	(79,886)	(79,428)
Total Stockholders' Equity	156,974	150,349
Total Liabilities & Stockholders’ Equity	256,044	249,611
Common Stock
Stockholders’ Equity
Common Stock, Value, Issued	874	868
Common Class B
Stockholders’ Equity
Common Stock, Value, Issued	$ 240	$ 240

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet Parenthetical - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Allowance for doubtful accounts	$ 1,037	$ 922
Accumulated amortization of other intangibles	550	524
Accumulated amortization of customer lists	7,685	7,608
Net unamortized debt issuance costs	$ 191	$ 202
Common Stock
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued	8,744,223	8,686,768
Treasury stock, common shares	3,624,677	3,609,938
Common Class B
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued	2,397,056	2,397,056
Treasury stock, common shares	351,641	351,641

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Net Sales	$ 101,669	$ 87,210	$ 200,208	$ 169,670
Cost of Sales	(78,653)	(71,624)	(154,882)	(140,266)
Gross Profit	23,016	15,586	45,326	29,404
Selling, General and Administrative Expenses	(15,710)	(13,668)	(31,451)	(27,041)
Income from Operations	7,306	1,918	13,875	2,363
Other (Expense) Income
Interest expense	(367)	(313)	(731)	(490)
Interest income	59	8	115	17
Other, net	(1,959)	757	(1,783)	1,190
Total Other (Expense) Income, Net	(2,267)	452	(2,399)	717
Income Before Income Taxes	5,039	2,370	11,476	3,080
Income Tax Expense	(1,193)	(409)	(2,400)	(524)
Net Income	3,846	1,961	9,076	2,556
Net Loss Attributable to Noncontrolling Interest	(10)	(41)	(21)	(31)
Net Income Attributable to Oil-Dri	$ 3,856	$ 2,002	$ 9,097	$ 2,587
Common Stock
Net Income Per Share
Basic Common (in dollars per share)	$ 0.58	$ 0.29	$ 1.37	$ 0.38
Diluted Common (in dollars per share)	$ 0.56	$ 0.28	$ 1.34	$ 0.37
Average Shares Outstanding
Basic Common (in shares)	4,829	5,077	4,817	5,095
Diluted Common (in shares)	4,965	5,186	4,937	5,211
Dividends Declared Per Share (in dollars per share)	$ 0.2800	$ 0.2700	$ 0.5600	$ 0.5400
Common Stock | Restricted Stock Units (RSUs)
Average Shares Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	1		7
Common Class B
Net Income Per Share
Basic Common (in dollars per share)	$ 0.44	0.22	$ 1.03	0.28
Diluted Common (in dollars per share)	$ 0.43	$ 0.22	$ 1.02	$ 0.28
Average Shares Outstanding
Basic Common (in shares)	1,964	1,939	1,953	1,930
Diluted Common (in shares)	1,985	1,965	1,975	1,966
Dividends Declared Per Share (in dollars per share)	$ 0.2100	$ 0.2025	$ 0.4200	$ 0.4050

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Net Income Attributable to Oil-Dri	$ 3,856	$ 2,002	$ 9,097	$ 2,587
Other Comprehensive (Loss) Income:
Pension and postretirement benefits (net of tax)	(5)	26	(13)	53
Cumulative translation adjustment	256	(60)	(129)	(94)
Other Comprehensive Income (Loss)	251	(34)	(142)	(41)
Total Comprehensive Income	$ 4,107	$ 1,968	$ 8,955	$ 2,546

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, 2021	$ 159,232	$ 1,096	$ 48,271	$ 180,443	$ (66,154)	$ (4,117)	$ (307)
Common & Class B Stock, Beginning of Period (in shares) at Jul. 31, 2021		10,958,367
Treasury Stock, Beginning of Period (in shares) at Jul. 31, 2021					(3,539,193)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	2,587	$ 0	0	2,587	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(31)						(31)
Net Income, Including Portion Attributable to Noncontrolling Interest	2,556
Other Comprehensive Income (Loss)	(41)	0	0	0	0	(41)	0
Dividends Declared	(3,708)	0	0	(3,708)	0	0	0
Purchases of Treasury Stock	(6,201)	0	0	0	$ (6,201)	0	0
Purchases of Treasury Stock (in shares)					(179,003)
Net issuance of stock under long-term incentive plans	0	$ 11	496	0	$ 507	0	0
Net issuance of stock under long-term incentive plans (in shares)		(106,657)			(14,400)
Amortization of Restricted Stock	1,453	$ 0	1,453	0	$ 0	0	0
Total, End of Period at Jan. 31, 2022	153,291	$ 1,107	50,220	179,322	$ (72,862)	(4,158)	(338)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2022		11,065,024
Treasury Stock, End of Period (in shares) at Jan. 31, 2022					(3,732,596)
Total, Beginning of Period at Oct. 31, 2021	156,301	$ 1,103	49,377	179,164	$ (68,922)	(4,124)	(297)
Common & Class B Stock, Beginning of Period (in shares) at Oct. 31, 2021		11,033,024
Treasury Stock, Beginning of Period (in shares) at Oct. 31, 2021					(3,618,510)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	2,002	$ 0	0	2,002	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(41)						(41)
Net Income, Including Portion Attributable to Noncontrolling Interest	1,961
Other Comprehensive Income (Loss)	(34)	0	0	0	0	(34)	0
Dividends Declared	(1,844)	0	0	(1,844)	0	0	0
Purchases of Treasury Stock	(3,910)	0	0	0	$ (3,910)	0	0
Purchases of Treasury Stock (in shares)					(113,236)
Net issuance of stock under long-term incentive plans	0	$ 4	26	0	$ 30	0	0
Net issuance of stock under long-term incentive plans (in shares)		(32,000)			(850)
Amortization of Restricted Stock	817	$ 0	817	0	$ 0	0	0
Total, End of Period at Jan. 31, 2022	153,291	$ 1,107	50,220	179,322	$ (72,862)	(4,158)	(338)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2022		11,065,024
Treasury Stock, End of Period (in shares) at Jan. 31, 2022					(3,732,596)
Total, Beginning of Period at Jul. 31, 2022	150,349	$ 1,108	52,467	178,754	$ (79,428)	(2,183)	(369)
Common & Class B Stock, Beginning of Period (in shares) at Jul. 31, 2022		11,083,824
Treasury Stock, Beginning of Period (in shares) at Jul. 31, 2022					(3,961,579)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	9,097	$ 0	0	9,097	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(21)						(21)
Net Income, Including Portion Attributable to Noncontrolling Interest	9,076
Other Comprehensive Income (Loss)	(142)	0	0	0	0	(142)	0
Dividends Declared	(3,718)	0	0	(3,718)	0	0	0
Purchases of Treasury Stock	(225)	0	0	0	$ (225)	0	0
Purchases of Treasury Stock (in shares)					(7,493)
Net issuance of stock under long-term incentive plans	0	$ 6	227	0	$ 233	0	0
Net issuance of stock under long-term incentive plans (in shares)		(57,455)			(7,246)
Amortization of Restricted Stock	1,634	$ 0	1,634	0	$ 0	0	0
Total, End of Period at Jan. 31, 2023	156,974	$ 1,114	54,328	184,133	$ (79,886)	(2,325)	(390)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2023		11,141,279
Treasury Stock, End of Period (in shares) at Jan. 31, 2023					(3,976,318)
Total, Beginning of Period at Oct. 31, 2022	154,028	$ 1,112	53,385	182,135	$ (79,648)	(2,576)	(380)
Common & Class B Stock, Beginning of Period (in shares) at Oct. 31, 2022		11,122,674
Treasury Stock, Beginning of Period (in shares) at Oct. 31, 2022					(3,968,939)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income Attributable to Oil-Dri	3,856	$ 0	0	3,856	$ 0	0
Net Loss Attributable to Noncontrolling Interest	(10)						(10)
Net Income, Including Portion Attributable to Noncontrolling Interest	3,846
Other Comprehensive Income (Loss)	251	0	0	0	0	251	0
Dividends Declared	(1,858)	0	0	(1,858)	0	0	0
Purchases of Treasury Stock	(133)	0	0	0	$ (133)	0	0
Purchases of Treasury Stock (in shares)					(4,133)
Net issuance of stock under long-term incentive plans	0	$ 2	103	0	$ 105	0	0
Net issuance of stock under long-term incentive plans (in shares)		(18,605)			(3,246)
Amortization of Restricted Stock	840	$ 0	840	0	$ 0	0	0
Total, End of Period at Jan. 31, 2023	$ 156,974	$ 1,114	$ 54,328	$ 184,133	$ (79,886)	$ (2,325)	$ (390)
Common Stock & Class B Stock, End of Period (in shares) at Jan. 31, 2023		11,141,279
Treasury Stock, End of Period (in shares) at Jan. 31, 2023					(3,976,318)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 9,076	$ 2,556
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,274	6,773
Non-cash stock-based compensation	1,634	1,453
Deferred income taxes	166	32
Provision for bad debts and cash discounts	207	(59)
Loss on the disposals of property, plant and equipment	15	265
(Increase) Decrease in assets:
Accounts receivable	(5,738)	(5,023)
Inventories	(2,432)	(6,236)
Prepaid expenses	(8)	846
Other assets	2,030	634
Increase (Decrease) in liabilities:
Accounts payable	180	1,326
Accrued expenses	3,889	(1,595)
Deferred compensation	(118)	690
Pension and postretirement benefits	(377)	(616)
Other liabilities	(900)	(985)
Total Adjustments	5,822	(2,495)
Net Cash Provided by Operating Activities	14,898	61
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(13,285)	(10,574)
Proceeds from sale of property, plant, and equipment	5	0
Net Cash Used in Investing Activities	(13,280)	(10,574)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of notes payable	0	25,000
Payments of debt issuance costs	0	(114)
Dividends paid	(3,711)	(3,728)
Purchase of treasury stock	(225)	(6,201)
Net Cash Used in Financing Activities	(3,936)	14,957
Effect of exchange rate changes on Cash and Cash Equivalents	(29)	(26)
Net (Decrease) Increase in Cash and Cash Equivalents	(2,347)	4,418
Cash and Cash Equivalents, Beginning of Period	16,298	24,591
Cash and Cash Equivalents, End of Period	13,951	29,009
Supplemental disclosure of non-cash investing and financing activities:
Interest payments, net of amounts capitalized	567	178
Income tax payments	1,323	155
Capital expenditures accrued, but not paid	1,283	835
Cash dividends declared and accrued, but not paid	$ 1,858	$ 1,845

Basis of Statement Presentation

Basis of Statement Presentation	6 Months Ended
	Jan. 31, 2023
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, 2022 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. Operating results for the three and six months ended January 31, 2023 are not necessarily an indication of the results that may be expected for the fiscal year ending July 31, 2023. Management Use of Estimates The preparation of the unaudited Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period, as well as the related disclosures. Estimates and assumptions about future events cannot be made with certainty. All of our estimates and assumptions are revised periodically. Actual results could differ from these estimates. For more information see "Critical Accounting Policies and Estimates" in Item 2 "Management's Discussion and Analysis of Financial Condition and Results of Operations." Summary of Significant Accounting Policies Our significant accounting policies, which are summarized in detail in our Annual Report on Form 10-K for the fiscal year ended July 31, 2022, have not materially changed. The following is a description of certain of our significant accounting policies: Trade Receivables. We recognize trade receivables when control of finished products are transferred to our customers. We record an allowance for credit losses based on our expectations 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 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. We retain outside collection agencies to facilitate our collection efforts. Past due status is determined based on contractual terms and customer payment history. 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 during the development phase 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. On an annual basis we evaluate our potential reclamation liability in accordance with ASC 410, Asset Retirement and Environmental Obligations. The reclamation assets are depreciated over the estimated useful lives of the various mines. The reclamation liabilities are increased based on a yearly accretion charge over the estimated useful lives of the mines. 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. Taxes collected from customers and remitted to governmental authorities are excluded from net sales. Sales returns are not material nor are warranties and any related obligations. 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 $0.2 million and $0.5 million as of January 31, 2023 and July 31, 2022, 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, 2023 that was included in the liability for advance payments at the beginning of the period was $0.1 million. 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.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jan. 31, 2023
NEW ACCOUNTING PRONOUNCEMENTS [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS AND REGULATIONS Recently Adopted Accounting 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. On August 30, 2022 we amended our debt agreements to replace the LIBOR-based reference rate with an adjusted term Secured Overnight Financing Rate (SOFR), ASC 848 will allow us to account for the modification as a continuation of the existing contract without additional analysis. 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, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The composition of inventories is as follows (in thousands): January 31, July 31, Finished goods $ 19,071 $ 18,142 Packaging 9,795 9,515 Other 9,072 7,905 Total Inventories $ 37,938 $ 35,562

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 31, 2023
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 no cash equivalents as of January 31, 2023 and July 31, 2022. Balances of accounts receivable and accounts payable approximated their fair values at January 31, 2023 and July 31, 2022 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 $31.2 million and $31.8 million as of January 31, 2023 and July 31, 2022, 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, 2023
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 $67 thousand and $138 thousand in the second quarter of fiscal years 2023 and 2022, respectively. Intangible amortization expense was $134 thousand and $253 thousand in the first six months of fiscal years 2023 and 2022, respectively. Estimated intangible amortization for the remainder of fiscal year 2023 is $131 thousand. Estimated intangible amortization for the next five fiscal years is as follows (in thousands): 2024 $ 129 2025 $ 104 2026 $ 102 2027 $ 99 2028 $ 94 We have one acquired trademark recorded at a cost of $0.4 million that was determined to have an indefinite life and is not amortized. We performed our goodwill impairment analysis on our Retail and Wholesale Products Group and Business to Business Products Group reporting units in the third quarter of fiscal year 2022. As a result, we identified goodwill impairment of $5.6 million which left no remaining goodwill in the Retail and Wholesale Products Group reporting unit and no impairment was identified for the Business to Business Products Group.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jan. 31, 2023
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 $ 13,780 $ 13,439 Freight 4,356 4,022 Georgia Landfill Modification Reserve 2,500 — Trade Promotions and Advertising 1,971 1,180 Real Estate Tax 317 1,006 Other 10,861 10,438 $ 33,785 $ 30,085

Other Contingencies

Other Contingencies	6 Months Ended
	Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Other 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 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 therefore recorded that estimate in Other within Accrued expenses. There have been no changes during fiscal 2022 or the six months ended January 31, 2023 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.In the three months ended January 31, 2023, we recorded a reserve of $2.5 million for anticipated modification costs that we expect to incur to address capacity issues at our sole landfill located in Ochlocknee, Georgia. Reserves are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. The amount of the reserve represents management’s best estimate of the costs for the modification with respect to this matter. Inherent uncertainties exist in these estimates primarily due to unknown conditions, changing governmental regulations and legal standards, and emerging technologies for handling site modification. Consequently, it is reasonably possible that modification costs in excess of amounts accrued could have a material impact on the Company’s results of operations, financial condition and cash flows.

Debt

Debt	6 Months Ended
	Jan. 31, 2023
Debt Disclosure [Abstract]
Debt	DEBTOn August 30, 2022, we entered into (i) the Sixth Amendment to Credit Agreement (the "Sixth Amendment"), which amends the Credit Agreement, dated as of January 27, 2006 (as previously amended, the "Credit Agreement"), among us, BMO Harris Bank N.A (“BMO”), and certain of our domestic subsidiaries; and (ii) Amendment No. 3 (the "Third Amendment") to our Amended and Restated Note Purchase and Private Shelf Agreement, dated as of May 15, 2020 (as previously amended, the "Note Agreement"), with PGIM, Inc. ("Prudential") and certain existing noteholders affiliated with Prudential named therein. The Sixth Amendment amended the Credit Agreement to, among other things: extend the facility termination date to August 30, 2027; replace the LIBOR-based reference rate with an adjusted term Secured Overnight Financing Rate ("SOFR"); revise the method for calculating consolidated EBITDA and consolidated debt for purposes of the Credit Agreement; modify certain restrictive covenants, including increasing the unsecured indebtedness basket from $50 million to $75 million; and revise the existing financial covenants by replacing the consolidated debt covenant with a covenant to maintain a maximum debt to earnings ratio, lowering the minimum fixed charge coverage ratio level and revising the method for calculating the fixed charge coverage ratio. The Third Amendment amended the Note Agreement to, among other things, modify the existing fixed charge coverage financial covenant and replace the existing consolidated debt financial covenant with a maximum debt to earnings ratio and effect certain changes consistent with the Sixth Amendment, including modifying the method for calculating consolidated EBITDA and the excess leverage fee.

Leases (Notes)

Leases (Notes)	6 Months Ended
	Jan. 31, 2023
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 three and six months ended January 31, 2023. 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, 2023 2022 2023 2022 Operating Lease Cost Operating lease cost $ 687 $ 718 $ 1,383 $ 1,352 Short-term operating lease cost — 159 1 308 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, 2023 2022 2023 2022 Other Information Cash paid for amounts included in the measurement of operating lease liabilities: $ 585 $ 636 $ 1,180 $ 1,197 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 1,042 $ 23 $ 1,283 We have no new leases in the three months ended January 31, 2023. 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, 2023 July 31, 2022 Weighted-average remaining lease term - operating leases 7.6 years 7.7 years Weighted-average discount rate - operating leases 3.90% 3.91% 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, 2023, (in thousands): 2024 $ 1,180 2025 2,052 2026 1,919 2027 1,629 2028 1,214 Thereafter 4,577 Total 12,571 Less: imputed interest (1,802) Net lease obligation $ 10,769

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Jan. 31, 2023
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 no longer earn additional benefits on or after March 1, 2020. On September 20, 2022, the Company's Board of Directors approved a resolution to terminate the Company's defined benefit pension plan. The Company expects to complete the termination over a period of eighteen months. 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, 2023 2022 2023 2022 Interest cost $ 338 $ 266 $ 673 $ 534 Expected return on plan assets (558) (646) (1,116) (1,293) Amortization of: Other actuarial loss 19 35 28 72 Net periodic benefit cost $ (201) $ (345) $ (415) $ (687) Postretirement Health Benefits (in thousands) For the Three Months Ended January 31, For the Six Months Ended January 31, 2023 2022 2023 2022 Service cost $ 20 $ 28 $ 42 $ 61 Interest cost 16 13 36 29 Amortization of: Other actuarial loss (23) — (41) — Prior service costs (1) (2) (3) (3) Net periodic benefit cost $ 12 $ 39 $ 34 $ 87 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 2023. We have no minimum funding requirements for the remainder of fiscal year 2023. 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, 2023 2022 2023 2022 Discount rate for net periodic benefit cost 4.05 % 2.57 % 3.82 % 2.10 % Rate of increase in compensation levels — % — % — % — % Long-term expected rate of return on assets 6.50 % 6.50 % — % — % The medical cost trend assumption for postretirement health benefits was 8.50%. The graded trend rate is expected to decrease to an ultimate rate of 4.90% in fiscal year 2044.

Operating Segments

Operating Segments	6 Months Ended
	Jan. 31, 2023
Segment Reporting [Abstract]
Operating Segment Disclosure	OPERATING SEGMENTS As a result of a change in management organization during fiscal year 2022 and as part of our routine assessments of our segments, our wholly owned subsidiary located in the United Kingdom (UK) is now included in our Business to Business Products Group and our co-packaged coarse cat litter is now included in the Retail and Wholesale Products Group. Prior year net sales and operating income have also been reclassified to reflect these changes. The organization change was intended to better serve our customers and the segment information presented reflects the information regularly reviewed by our chief operating decision maker. 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; and marketers of consumer products. 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; and distributors of animal health and nutrition 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, 2022. 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 2023 2022 2023 2022 Cat Litter $ — $ — $ 110,580 $ 98,468 Industrial and Sports — — 20,787 $ 17,940 Agricultural and Horticultural 19,788 13,519 — — Bleaching Clay and Fluids Purification 37,241 30,576 — $ — Animal Health and Nutrition 11,812 9,167 — — Net Sales $ 68,841 $ 53,262 131,367 $ 116,408 Business to Business Products Group Retail and Wholesale Products Group For the Three Months Ended January 31, Product 2023 2022 2023 2022 Cat Litter $ — $ — $ 56,382 $ 49,937 Industrial and Sports — — 10,133 8,820 Agricultural and Horticultural 9,785 7,311 — — Bleaching Clay and Fluids Purification 19,012 15,555 — — Animal Health and Nutrition 6,357 5,587 — — Net Sales $ 35,154 $ 28,453 $ 66,515 $ 58,757 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, 2023 July 31, 2022 (in thousands) Business to Business Products Group $ 83,697 $ 75,644 Retail and Wholesale Products Group 130,443 125,293 Unallocated Assets 41,904 48,674 Total Assets $ 256,044 $ 249,611 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 employees. In addition, Income from our Business to Business and Retail and Wholesale Products as well as Corporate Expenses for the three and six months ended January 31, 2022 were adjusted for a change in management organization. See Note 1 of the Notes to the unaudited Condensed Consolidated Financial Statements. For the Six Months Ended January 31, Net Sales Income 2023 2022 2023 2022 (in thousands) Business to Business Products Group $ 68,841 $ 53,262 $ 14,991 $ 11,962 Retail and Wholesale Products Group $ 131,367 116,408 $ 16,256 3,374 Net Sales $ 200,208 $ 169,670 Corporate Expenses (17,372) (12,973) Income from Operations 13,875 2,363 Total Other (Expense) Income, Net (2,399) 717 Income before Income Taxes 11,476 3,080 Income Tax Expense (2,400) (524) Net Income 9,076 2,556 Net Loss Attributable to Noncontrolling Interest (21) (31) Net Income Attributable to Oil-Dri $ 9,097 $ 2,587 For the Three Months Ended January 31, Net Sales Income 2023 2022 2023 2022 (in thousands) Business to Business Products Group $ 35,154 $ 28,453 $ 7,734 $ 6,424 Retail and Wholesale Products Group 66,515 58,757 8,682 2,092 Net Sales $ 101,669 $ 87,210 Corporate Expenses (9,110) (6,598) Income from Operations 7,306 1,918 Total Other (Expense) Income, Net (2,267) 452 Income before Income Taxes 5,039 2,370 Income Tax Expense (1,193) (409) Net Income 3,846 1,961 Net Loss Attributable to Noncontrolling Interest (10) (41) Net Income Attributable to Oil-Dri $ 3,856 $ 2,002

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments	STOCK-BASED COMPENSATIONThe 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, 2023, there were 229,759 shares available for future grants under this plan. Restricted Stock All of our non-vested restricted stock as of January 31, 2023 was issued under the 2006 Plan with vesting periods generally between one There were 57,000 and 107,000 restricted shares of Common Stock granted during the second quarter of fiscal years 2023 and 2022, respectively. Stock-based compensation expense was $1.6 million and $1.5 million for the second quarter of fiscal years 2023 and 2022, 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, 2022 382 $ 33.63 Granted 57 $ 28.53 Vested (69) $ 35.16 Forfeitures (7) $ 32.19 Non-vested restricted stock outstanding at January 31, 2023 363 $ 32.57

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income (Notes)	6 Months Ended
	Jan. 31, 2023
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, 2023 (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2022 $ (2,242) $ 59 $ (2,183) Other comprehensive loss before reclassifications, net of tax — (129) (129) Amounts reclassified from accumulated other comprehensive income, net of tax (13) — (13) Net current-period other comprehensive loss, net of tax (13) (129) (142) Balance as of January 31, 2023 $ (2,255) $ (70) $ (2,325)

Related Party Transactions (Not

Related Party Transactions (Notes)	6 Months Ended
	Jan. 31, 2023
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 $71,768 and 81,210 for the second quarter of fiscal years 2023 and 2022 respectively and were $126,926 and $156,476 for the first six months of fiscal years 2023 and 2022 respectively. Outstanding accounts receivable from that customer, and its subsidiaries, were $8,661 as of January 31, 2023 and $5,608 as of July 31, 2022. 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 $49,916 and $349,773 for the second quarter of fiscal years 2023 and 2022 respectively and were $112,276 and $565,191 for the first six months of fiscal years 2023 and 2022 respectively. There were no outstanding accounts payable to that vendor as of January 31, 2023 or July 31, 2022.

Subsequent Events (Notes)

Subsequent Events (Notes)	6 Months Ended
	Jan. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSTBD

Basis of Statement Presentati_2

Basis of Statement Presentation Level 2 (Policies)	6 Months Ended
	Jan. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade Receivables	We recognize trade receivables when control of finished products are transferred to our customers. We record an allowance for credit losses based on our expectations 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 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. We retain outside collection agencies to facilitate our collection efforts. Past due status is determined based on contractual terms and customer payment history.
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 during the development phase 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. On an annual basis we evaluate our potential reclamation liability in accordance with ASC 410, Asset Retirement and Environmental Obligations. The reclamation assets are depreciated over the estimated useful lives of the various mines. The reclamation liabilities are increased based on a yearly accretion charge over the estimated useful lives of the mines.
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. Taxes collected from customers and remitted to governmental authorities are excluded from net sales. Sales returns are not material nor are warranties and any related obligations. 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 $0.2 million and $0.5 million as of January 31, 2023 and July 31, 2022, 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, 2023 that was included in the liability for advance payments at the beginning of the period was $0.1 million. 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	Other liabilities include the accruals for general expenses not yet paid, cash collected not yet vouchered, legal reserves, and reclamation liability accrual. Current liabilities are due to be paid within the next 12 months. Included in current liabilities within Accrued Expenses on the unaudited Condensed Consolidated Balance Sheet is $2.5 million for the Georgia landfill modification reserve as modification efforts are expected to begin in the third quarter of fiscal year 2023, refer to Note 7 for further details.

Inventories Level 2 (Policies)

Inventories Level 2 (Policies)	6 Months Ended
	Jan. 31, 2023
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.

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Policies)	6 Months Ended
	Jan. 31, 2023
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, 2023
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; and marketers of consumer products. 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; and distributors of animal health and nutrition 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, 2022.

Inventories Level 3 (Tables)

Inventories Level 3 (Tables)	6 Months Ended
	Jan. 31, 2023
Inventory Disclosure [Abstract]
Inventories	The composition of inventories is as follows (in thousands): January 31, July 31, Finished goods $ 19,071 $ 18,142 Packaging 9,795 9,515 Other 9,072 7,905 Total Inventories $ 37,938 $ 35,562

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jan. 31, 2023
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): 2024 $ 129 2025 $ 104 2026 $ 102 2027 $ 99 2028 $ 94

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jan. 31, 2023
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 $ 13,780 $ 13,439 Freight 4,356 4,022 Georgia Landfill Modification Reserve 2,500 — Trade Promotions and Advertising 1,971 1,180 Real Estate Tax 317 1,006 Other 10,861 10,438 $ 33,785 $ 30,085

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 31, 2023
Leases [Abstract]
Lease cost	We have no material finance leases, and variable costs for operating leases are immaterial for the three and six months ended January 31, 2023. 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, 2023 2022 2023 2022 Operating Lease Cost Operating lease cost $ 687 $ 718 $ 1,383 $ 1,352 Short-term operating lease cost — 159 1 308 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, 2023 2022 2023 2022 Other Information Cash paid for amounts included in the measurement of operating lease liabilities: $ 585 $ 636 $ 1,180 $ 1,197 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 1,042 $ 23 $ 1,283 We have no new leases in the three months ended January 31, 2023. 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, 2023 July 31, 2022 Weighted-average remaining lease term - operating leases 7.6 years 7.7 years Weighted-average discount rate - operating leases 3.90% 3.91%
Operating lease payments due within next twelve months as of January 31, 2023	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, 2023, (in thousands): 2024 $ 1,180 2025 2,052 2026 1,919 2027 1,629 2028 1,214 Thereafter 4,577 Total 12,571 Less: imputed interest (1,802) Net lease obligation $ 10,769

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jan. 31, 2023
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, 2023 2022 2023 2022 Interest cost $ 338 $ 266 $ 673 $ 534 Expected return on plan assets (558) (646) (1,116) (1,293) Amortization of: Other actuarial loss 19 35 28 72 Net periodic benefit cost $ (201) $ (345) $ (415) $ (687) Postretirement Health Benefits (in thousands) For the Three Months Ended January 31, For the Six Months Ended January 31, 2023 2022 2023 2022 Service cost $ 20 $ 28 $ 42 $ 61 Interest cost 16 13 36 29 Amortization of: Other actuarial loss (23) — (41) — Prior service costs (1) (2) (3) (3) Net periodic benefit cost $ 12 $ 39 $ 34 $ 87
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, 2023 2022 2023 2022 Discount rate for net periodic benefit cost 4.05 % 2.57 % 3.82 % 2.10 % Rate of increase in compensation levels — % — % — % — % Long-term expected rate of return on assets 6.50 % 6.50 % — % — % The medical cost trend assumption for postretirement health benefits was 8.50%. The graded trend rate is expected to decrease to an ultimate rate of 4.90% in fiscal year 2044.

Operating Segments (Tables)

Operating Segments (Tables)	6 Months Ended
	Jan. 31, 2023
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 2023 2022 2023 2022 Cat Litter $ — $ — $ 110,580 $ 98,468 Industrial and Sports — — 20,787 $ 17,940 Agricultural and Horticultural 19,788 13,519 — — Bleaching Clay and Fluids Purification 37,241 30,576 — $ — Animal Health and Nutrition 11,812 9,167 — — Net Sales $ 68,841 $ 53,262 131,367 $ 116,408 Business to Business Products Group Retail and Wholesale Products Group For the Three Months Ended January 31, Product 2023 2022 2023 2022 Cat Litter $ — $ — $ 56,382 $ 49,937 Industrial and Sports — — 10,133 8,820 Agricultural and Horticultural 9,785 7,311 — — Bleaching Clay and Fluids Purification 19,012 15,555 — — Animal Health and Nutrition 6,357 5,587 — — Net Sales $ 35,154 $ 28,453 $ 66,515 $ 58,757
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, 2023 July 31, 2022 (in thousands) Business to Business Products Group $ 83,697 $ 75,644 Retail and Wholesale Products Group 130,443 125,293 Unallocated Assets 41,904 48,674 Total Assets $ 256,044 $ 249,611 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 employees. In addition, Income from our Business to Business and Retail and Wholesale Products as well as Corporate Expenses for the three and six months ended January 31, 2022 were adjusted for a change in management organization. See Note 1 of the Notes to the unaudited Condensed Consolidated Financial Statements. For the Six Months Ended January 31, Net Sales Income 2023 2022 2023 2022 (in thousands) Business to Business Products Group $ 68,841 $ 53,262 $ 14,991 $ 11,962 Retail and Wholesale Products Group $ 131,367 116,408 $ 16,256 3,374 Net Sales $ 200,208 $ 169,670 Corporate Expenses (17,372) (12,973) Income from Operations 13,875 2,363 Total Other (Expense) Income, Net (2,399) 717 Income before Income Taxes 11,476 3,080 Income Tax Expense (2,400) (524) Net Income 9,076 2,556 Net Loss Attributable to Noncontrolling Interest (21) (31) Net Income Attributable to Oil-Dri $ 9,097 $ 2,587 For the Three Months Ended January 31, Net Sales Income 2023 2022 2023 2022 (in thousands) Business to Business Products Group $ 35,154 $ 28,453 $ 7,734 $ 6,424 Retail and Wholesale Products Group 66,515 58,757 8,682 2,092 Net Sales $ 101,669 $ 87,210 Corporate Expenses (9,110) (6,598) Income from Operations 7,306 1,918 Total Other (Expense) Income, Net (2,267) 452 Income before Income Taxes 5,039 2,370 Income Tax Expense (1,193) (409) Net Income 3,846 1,961 Net Loss Attributable to Noncontrolling Interest (10) (41) Net Income Attributable to Oil-Dri $ 3,856 $ 2,002

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jan. 31, 2023
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, 2022 382 $ 33.63 Granted 57 $ 28.53 Vested (69) $ 35.16 Forfeitures (7) $ 32.19 Non-vested restricted stock outstanding at January 31, 2023 363 $ 32.57

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jan. 31, 2023
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, 2023 (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2022 $ (2,242) $ 59 $ (2,183) Other comprehensive loss before reclassifications, net of tax — (129) (129) Amounts reclassified from accumulated other comprehensive income, net of tax (13) — (13) Net current-period other comprehensive loss, net of tax (13) (129) (142) Balance as of January 31, 2023 $ (2,255) $ (70) $ (2,325)

Basis of Statement Presentati_3

Basis of Statement Presentation Revenue Recognition (Details) - Payments In Advance - USD ($) $ in Millions	6 Months Ended
	Jan. 31, 2023	Jul. 31, 2022
Deferred Revenue Arrangement
Liability for Payments in Advance	$ 0.2	$ 0.5
Payments in Advance, Revenue Recognized	$ 0.1

Basis of Statement Presentati_4

Basis of Statement Presentation Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Liabilities, Current [Abstract]
Georgia Landfill Modification Reserve	$ 2,500	$ 0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Inventory
Finished goods	$ 19,071	$ 18,142
Packaging	9,795	9,515
Other	9,072	7,905
Total Inventories	$ 37,938	$ 35,562

Inventories Narrative (Details)

Inventories Narrative (Details) - USD ($) $ in Millions	Jan. 31, 2023	Jul. 31, 2022
Inventory
Inventory obsolescence reserve	$ 0.9	$ 0.8

Fair Value Measurements Narrati

Fair Value Measurements Narrative (Details) - USD ($) $ in Millions	Jan. 31, 2023	Jul. 31, 2022
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash Equivalents	$ 0	$ 0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Notes Payable, Fair Value	$ 31.2	$ 31.8

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Details) $ in Thousands	Jan. 31, 2023 USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense
2024	$ 129
2025	104
2026	102
2027	99
2028	$ 94

Goodwill and Other Intangible_4

Goodwill and Other Intangibles Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Jul. 31, 2022
Finite-Lived Intangible Assets
Amortization of intangible assets	$ 67,000	$ 138,000	$ 134,000	$ 253,000
Amortization expense for remainder of current fiscal year	131,000		131,000
Indefinite-lived trademarks	400,000		400,000
Goodwill	3,618,000		3,618,000		$ 3,618,000
Retail and Wholesale Products
Finite-Lived Intangible Assets
Goodwill	$ 0		$ 0
Goodwill, Impaired, Accumulated Impairment Loss					5,600,000
Business to Business Products
Finite-Lived Intangible Assets
Goodwill, Impaired, Accumulated Impairment Loss					$ 0

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Payables and Accruals [Abstract]
Salaries, Wages, Commissions and Employee Benefits	$ 13,780	$ 13,439
Freight	4,356	4,022
Georgia Landfill Modification Reserve	2,500	0
Trade promotions and advertising	1,971	1,180
Real Estate Tax	317	1,006
Other	10,861	10,438
Accrued expenses	$ 33,785	$ 30,085

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Georgia Landfill Modification Reserve	$ 2,500	$ 0

Debt (Details)

Debt (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 31, 2023	Jul. 31, 2022
Debt Instrument [Line Items]
Maximum Allowable Debt	$ 75	$ 50
Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date	Aug. 30, 2027

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Jul. 31, 2022
Lease, Cost
Operating lease cost	$ 687	$ 718	$ 1,383	$ 1,352
Short-term operating lease cost	0	159	1	308
Cash paid for amounts included in the measurement of operating lease liabilities	585	636	1,180	1,197
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 0	$ 1,042	$ 23	$ 1,283
Weighted-average remaining lease term - operating leaes	7 years 7 months 6 days		7 years 7 months 6 days		7 years 8 months 12 days
Weighted-average discount rate - operating leases	3.90%		3.90%		3.91%
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity
2024	$ 1,180		$ 1,180
2025	2,052		2,052
2026	1,919		1,919
2027	1,629		1,629
2028	1,214		1,214
Thereafter	4,577		4,577
Total	12,571		12,571
Less: imputed interest	(1,802)		(1,802)
Net lease obligation	$ 10,769		$ 10,769

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Interest cost	$ 338	$ 266	$ 673	$ 534
Expected return on plan assets	(558)	(646)	(1,116)	(1,293)
Amortization of Other actuarial loss	19	35	28	72
Net periodic benefit cost	(201)	(345)	(415)	(687)
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	20	28	42	61
Interest cost	16	13	36	29
Amortization of Other actuarial loss	(23)	0	(41)	0
Amortization of Prior service costs	(1)	(2)	(3)	(3)
Net periodic benefit cost	$ 12	$ 39	$ 34	$ 87

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits Assumptions (Details)	6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate for net periodic benefit cost	4.05%	2.57%
Rate of increase in compensation levels	0%	0%
Long-term expected rate of return on assets	6.50%	6.50%
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate for net periodic benefit cost	3.82%	2.10%
Rate of increase in compensation levels	0%	0%
Long-term expected rate of return on assets	0%	0%

Pension and Other Postretirem_5

Pension and Other Postretirement Benefits Narrative (Details)	6 Months Ended
	Jan. 31, 2023 USD ($)
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Voluntary contributions	$ 0
Estimated contributions in remainder of current fiscal year	$ 0
Postretirement Health Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Medical Cost Trend Assumption	8.50%
Ultimate Health Care Cost Trend Rate	4.90%
Year that Rate Reaches Ultimate Trend Rate	2044

Operating Segments Disaggregati

Operating Segments Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Revenue by Principal Product
Net Sales	$ 101,669	$ 87,210	$ 200,208	$ 169,670
Business to Business Products
Revenue by Principal Product
Net Sales	35,154	28,453	68,841	53,262
Business to Business Products | Cat Litter
Revenue by Principal Product
Net Sales	0	0	0	0
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	9,785	7,311	19,788	13,519
Business to Business Products | Bleaching Clay and Fluids Purification
Revenue by Principal Product
Net Sales	19,012	15,555	37,241	30,576
Business to Business Products | Animal Health and Nutrition
Revenue by Principal Product
Net Sales	6,357	5,587	11,812	9,167
Retail and Wholesale Products
Revenue by Principal Product
Net Sales	66,515	58,757	131,367	116,408
Retail and Wholesale Products | Cat Litter
Revenue by Principal Product
Net Sales	56,382	49,937	110,580	98,468
Retail and Wholesale Products | Industrial and Sports
Revenue by Principal Product
Net Sales	10,133	8,820	20,787	17,940
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	0	0	0	0
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, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Jul. 31, 2022
Segment Reporting Information
Assets	$ 256,044		$ 256,044		$ 249,611
Net Sales	101,669	$ 87,210	200,208	$ 169,670
Corporate Expenses	(9,110)	(6,598)	(17,372)	(12,973)
Income from Operations	7,306	1,918	13,875	2,363
Total Other (Expense) Income, Net	(2,267)	452	(2,399)	717
Income Before Income Taxes	5,039	2,370	11,476	3,080
Income Tax Expense	(1,193)	(409)	(2,400)	(524)
Net Income	3,846	1,961	9,076	2,556
Net Loss Attributable to Noncontrolling Interest	(10)	(41)	(21)	(31)
Net Income Attributable to Oil-Dri	3,856	2,002	9,097	2,587
Business to Business Products
Segment Reporting Information
Assets	83,697		83,697		75,644
Net Sales	35,154	28,453	68,841	53,262
Segment Income	7,734	6,424	14,991	11,962
Retail and Wholesale Products
Segment Reporting Information
Assets	130,443		130,443		125,293
Net Sales	66,515	58,757	131,367	116,408
Segment Income	8,682	$ 2,092	16,256	$ 3,374
Unallocated Assets
Segment Reporting Information
Assets	$ 41,904		$ 41,904		$ 48,674

Operating Segments Narrative (D

Operating Segments Narrative (Details)	6 Months Ended
	Jan. 31, 2023 segment
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, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Non-vested restricted stock outstanding, beginning balance | shares	382
Granted, number of shares | shares	57
Vested, number of shares | shares	(69)
Forfeitures, number of shares | shares	(7)
Non-vested restricted stock outstanding, ending balance | shares	363
Non-vested restricted stock outstanding, weighted average grant date fair value, beginning balance | $ / shares	$ 33.63
Granted, weighted average grant date fair value | $ / shares	28.53
Vested, weighted average grant date fair value | $ / shares	35.16
Forfeitures, weighted average grant date fair value | $ / shares	32.19
Non-vested restricted stock outstanding, weighted average grant date fair value, ending balance | $ / shares	$ 32.57

Stock-Based Compensation Narrat

Stock-Based Compensation Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted, number of shares	57,000
2006 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number Authorized (shares)	1,219,500
Number Available (shares)	229,759
2006 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted, number of shares	57,000	107,000
Share-based Compensation Expense	$ 1.6	$ 1.5
2006 Plan | Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period (years)	1 year
2006 Plan | Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period (years)	5 years

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			$ (2,183)
Other comprehensive loss before reclassifications, net of tax			(129)
Amounts reclassified from accumulated other comprehensive income, net of tax			(13)
Net current-period other comprehensive loss, net of tax	$ (251)	$ 34	142	$ 41
Accumulated Other Comprehensive Loss, Balance, ending	(2,325)		(2,325)
Pension and Postretirement Health Benefits
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			(2,242)
Other comprehensive loss before reclassifications, net of tax			0
Amounts reclassified from accumulated other comprehensive income, net of tax			(13)
Net current-period other comprehensive loss, net of tax			13
Accumulated Other Comprehensive Loss, Balance, ending	(2,255)		(2,255)
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income, Balance, beginning			59
Other comprehensive loss before reclassifications, net of tax			(129)
Amounts reclassified from accumulated other comprehensive income, net of tax			0
Net current-period other comprehensive loss, net of tax			129
Accumulated Other Comprehensive Loss, Balance, ending	$ (70)		$ (70)

Related Party Transactions (Det

Related Party Transactions (Details) - Director - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Jul. 31, 2022
Related Party Transaction
Net sales to related party	$ 71,768	$ 81,210	$ 126,926	$ 156,476
Accounts receivable from related party	8,661		8,661		$ 5,608
Payments to related party	49,916	$ 349,773	112,276	$ 565,191
Accounts payable to related party	$ 0		$ 0		$ 0