Oil-Dri Corporation of America (ODC) 10-K 12 Oct 23 2023 FY Annual report Financial data

Cover Page Cover Page

Cover Page Cover Page - USD ($)	12 Months Ended
	Jul. 31, 2023	Sep. 30, 2023	Jan. 31, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jul. 31, 2023
Document Transition Report	false
Entity File Number	001-12622
Entity Registrant Name	OIL-DRI CORPORATION OF AMERICA
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, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60611-4213
City Area Code	312
Local Phone Number	321-1515
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	ODC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 186,610,921
Entity Central Index Key	0000074046
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		5,108,734
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,170,415
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Audit Information

Audit Information	12 Months Ended
	Jul. 31, 2023
Auditor [Line Items]
Auditor Name	GRANT THORNTON LLP
Auditor Firm ID	248
Auditor Location	Chicago, Illinois

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Current Assets
Cash and cash equivalents	$ 31,754	$ 16,298
Accounts receivable, less allowance of $1,087 and $922 in 2023 and 2022, respectively	59,287	51,683
Inventories, net	42,612	40,466
Prepaid expenses and other assets	2,854	3,664
Total Current Assets	136,507	112,111
Property, Plant and Equipment
Buildings and leasehold improvements	40,940	40,294
Machinery and equipment	184,471	165,350
Office furniture and equipment	18,744	17,524
Vehicles	17,663	15,470
Gross depreciable assets	261,818	238,638
Less accumulated depreciation and amortization	(182,999)	(175,374)
Net depreciable assets	78,819	63,264
Construction in progress	15,856	24,496
Land and mineral rights	22,905	20,106
Capital Parts, net	3,292	2,570
Total Property, Plant and Equipment, Net	120,872	110,436
Other Assets
Goodwill	3,618	3,618
Trademarks and patents, net of accumulated amortization of $578 and $524 in 2023 and 2022, respectively	1,399	1,445
Customer list, net of accumulated amortization of $7,763 and $7,608 in 2023 and 2022, respectively	22	177
Deferred income taxes	7,201	3,677
Operating lease right-of-use assets	9,386	10,601
Other	7,230	7,546
Total Other Assets	28,856	27,064
Total Assets	286,235	249,611
Current Liabilities
Current maturities of notes payable	1,000	1,000
Accounts Payable	17,101	13,401
Dividends payable	1,927	1,851
Operating lease liabilities	1,872	2,178
Accrued Expenses	36,868	30,085
Total Current Liabilities	58,768	48,515
Noncurrent Liabilities
Notes payable, net of unamortized debt issuance costs of $173 and $202 in 2023 and 2022, respectively	30,827	31,798
Deferred compensation	4,512	4,559
Pension and postretirement benefits	1,753	798
Long-term operating lease liabilities	8,810	9,749
Other	4,489	3,843
Total Noncurrent Liabilities	50,391	50,747
Total Liabilities	109,159	99,262
Stockholders’ Equity
Additional paid-in capital	55,624	52,467
Retained earnings	200,796	178,754
Noncontrolling interest	0	(369)
Accumulated Other Comprehensive Loss
Pension and postretirement benefits	1,012	(2,242)
Cumulative translation adjustment	(264)	59
Total Accumulated Other Comprehensive Income (Loss)	748	(2,183)
Less treasury stock, at cost (3,658,989 Common and 351,641 Class B shares in 2023 and 3,609,938 Common and 351,641 Class B shares in 2022)	(81,207)	(79,428)
Total Stockholders’ Equity	177,076	150,349
Total Liabilities and Stockholders’ Equity	286,235	249,611
Common Stock
Stockholders’ Equity
Common Stock, par value $.10	875	868
Class B
Stockholders’ Equity
Common Stock, par value $.10	$ 240	$ 240

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Net Sales	$ 413,021	$ 348,589
Cost of Sales	(309,794)	(286,074)
Gross Profit	103,227	62,515
Selling, General and Administrative Expenses	(62,187)	(52,050)
Loss on impairment of goodwill	0	5,644
Income from Operations	41,040	4,821
Other (Expense) Income
Interest income	465	45
Interest expense	(1,464)	(1,228)
Loss on pension termination	(4,652)	0
Foreign exchange gain (loss)	105	(303)
Other, net	(816)	2,374
Total Other (Expense) Income, Net	(6,362)	888
Income Before Income Taxes	34,678	5,709
Income Tax Expense	(5,195)	(97)
Net income	29,483	5,612
Net Loss Attributable to Noncontrolling Interest	(68)	(62)
Net Income Attributable to Oil-Dri	29,551	$ 5,674
Basic Common
Other (Expense) Income
Net Income Attributable to Oil-Dri	$ 22,712
Net Income Per Share
Earnings Per Share, Basic	$ 4.45	$ 0.83
Earnings per Share, Diluted	$ 4.13	$ 0.81
Average Shares Outstanding
Earnings Per Share, Basic (in shares)	4,825	4,987
Earnings Per Share, Diluted (in shares)	6,784	5,099
Basic Class B
Other (Expense) Income
Net Income Attributable to Oil-Dri	$ 6,839
Net Income Per Share
Earnings Per Share, Basic	$ 3.35	$ 0.63
Earnings per Share, Diluted	$ 3.35	$ 0.62
Average Shares Outstanding
Earnings Per Share, Basic (in shares)	1,959	1,934
Earnings Per Share, Diluted (in shares)	1,959	1,962

Consolidate Statements of Compr

Consolidate Statements of Comprehensive Income Statement - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Net Income Attributable to Parent
Net Income Attributable to Oil-Dri	$ 29,551	$ 5,674
Other Comprehensive Income (Loss)
Pension and postretirement benefits (net of tax)	3,254	2,186
Cumulative translation adjustment	(323)	(252)
Other Comprehensive Income	2,931	1,934
Comprehensive Income	$ 32,482	$ 7,608

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)
Net Income	5,612	$ 0	0		$ 0	0
Net Income Attributable to Oil-Dri	5,674			5,674
Net Loss Attributable to Noncontrolling Interest	(62)						(62)
Other comprehensive income	1,934	0	0	0	0	1,934	0
Dividends Declared	(7,363)	0	0	(7,363)	$ 0	0	0
Purchases of Treasury Stock (in shares)					(379,586)
Purchases of Treasury Stock	(11,806)	$ 0	0	0	$ (11,806)	0	0
Net Issuance of Stock Under Long-Term Incentive Plans (in shares)		125,457			42,800
Net issuance of stock under long-term incentive plans	(1)	$ 12	1,455	0	$ (1,468)	0	0
Amortization of Restricted Stock	2,741	0	2,741	0	0	0	0
Total, End of Period at Jul. 31, 2022	150,349	$ 1,108	52,467	178,754	$ (79,428)	(2,183)	(369)
Common & Class B Stock, End of Period (in shares) at Jul. 31, 2022		11,083,824
Treasury Stock, End of Period (in shares) at Jul. 31, 2022					(3,961,579)
Net Income	29,483	$ 0	0		$ 0	0
Net Income Attributable to Oil-Dri	29,551			29,551
Net Loss Attributable to Noncontrolling Interest	(68)						(68)
Other comprehensive income	2,931	0	0	0	0	2,931	0
Dividends Declared	(7,509)	0	0	(7,509)	$ 0	0	0
Purchases of Treasury Stock (in shares)					(25,055)
Purchases of Treasury Stock	(1,078)	$ 0	0	0	$ (1,078)	0	0
Net Issuance of Stock Under Long-Term Incentive Plans (in shares)		63,455			23,996
Net issuance of stock under long-term incentive plans	1	$ 7	695	0	$ (701)	0	0
Amortization of Restricted Stock	3,147	0	3,147	0	0	0	0
Contributions from noncontrolling interests	(248)	0	(685)	0	0	0	437
Total, End of Period at Jul. 31, 2023	$ 177,076	$ 1,115	$ 55,624	$ 200,796	$ (81,207)	$ 748	$ 0
Common & Class B Stock, End of Period (in shares) at Jul. 31, 2023		11,147,279
Treasury Stock, End of Period (in shares) at Jul. 31, 2023					(4,010,630)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Cash Flows from Operating Activities
Net Income	$ 29,483	$ 5,612
Adjustments to reconcile net income to net cash provided by operating activites:
Depreciation and amortization	15,528	13,474
Non-cash stock compensation expense	3,147	2,741
Loss on pension termination	4,652	0
Provision for deferred income taxes	(4,431)	(2,296)
Provision for bad debts and cash discounts	284	(227)
Loss on impairment of goodwill	0	5,644
Loss on impairment of patent applications	61	323
Loss on impairment of Fixed Assets	914	0
Accretion for asset retirement obligation	161	145
Loss on the disposals of property, plant and equipment	130	334
(Increase) decrease in:
Accounts receivable	(7,899)	(10,654)
Inventories	(2,204)	(13,087)
Prepaid expenses	1,082	372
Deferred income taxes	510	715
Other assets	59	1,607
Increase (decrease) in:
Accounts payable	3,241	5,002
Accrued expenses	6,455	4,702
Deferred compensation	(47)	189
Pension and postretirement benefits	(1,085)	(1,938)
Other liabilities	(277)	(3,641)
Total Adjustments	20,281	3,405
Net Cash Provided by Operating Activities	49,764	9,017
Cash Flows from Investing Activities
Capital expenditures	(24,368)	(22,010)
Proceeds from sale of property, plant and equipment	70	21
Acquisition of equity in Agromex	(269)	0
Net Cash Used in Investing Activities	(24,567)	(21,989)
Cash Flows from Financing Activities
Proceeds from issuance of notes payable	0	25,000
Principal payments on notes payable	(1,000)	(1,000)
Payments of Debt Issuance Costs	(7)	(114)
Dividends paid	(7,433)	(7,377)
Purchase of treasury stock	(1,078)	(11,806)
Net Cash (Used in) Provided by Financing Activities	(9,518)	4,703
Effect of exchange rate changes on cash and cash equivalents	(223)	(24)
Net Increase (Decrease) in Cash and Cash Equivalents	15,456	(8,293)
Cash and Cash Equivalents, Beginning of Year	16,298	24,591
Cash and Cash Equivalents, End of Year	31,754	16,298
Other cash flows:
Interest payments, net of amounts capitalized	1,135	767
Income tax payments (refunds)	7,367	(178)
Noncash investing and financing activities:
Capital expenditures accrued, but not paid	4,279	3,558
Cash dividends declared and accrued, but not paid	$ 1,927	$ 1,851

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Allowance for doubtful accounts	$ 1,087	$ 922
Trademarks and patents accumulated amortization	578	524
Customer list accumulated amortization	7,763	7,608
Unamortized debt issuance costs	$ 173	$ 202
Common Stock
Common Stock, shares issued	8,750,223	8,686,768
Common Stock, par value per share	$ 0.10	$ 0.10
Treasury Stock, shares	3,658,989	3,609,938
Class B
Common Stock, shares issued	2,397,056	2,397,056
Common Stock, par value per share	$ 0.10	$ 0.10
Treasury Stock, shares	351,641	351,641

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Summary Of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES N ATURE OF O PERATIONS We are a leader in developing, manufacturing and/or marketing sorbent products. Our sorbent products are principally produced from clay minerals. Our absorbent clay products include cat litter, industrial floor absorbents, agricultural chemical carriers and animal feed additives. Our adsorbent products include bleaching clays, which are used for filtration of edible oils, pre-treatment of renewable diesel, and for purification of petroleum-based oils. We also sell synthetic sorbents, which are used for industrial cleanup. P RINCIPLES OF C ONSOLIDATION The Consolidated Financial Statements include the accounts of Oil-Dri Corporation of America and its subsidiaries. All significant intercompany balances and transactions have been eliminated from the Consolidated Financial Statements. R ECLASSIFICATION 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 or net cash flows. M ANAGEMENT U SE OF E STIMATES The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of 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. C ASH AND C ASH E QUIVALENTS Cash equivalents are highly liquid investments with maturities of three months or less. T RADE R ECEIVABLES 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. I NVENTORIES The composition of inventories was as follows as of July 31 (in thousands): 2023 2022 Finished goods $ 21,943 $ 18,142 Packaging 8,007 9,515 Spare parts, net $ 5,981 $ 4,904 Other 6,681 7,905 Inventories $ 42,612 $ 40,466 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. We recorded inventory obsolescence reserves of approximately $0.8 million as of both July 31, 2023 and July 31, 2022, respectively. The other category of inventories includes a variety of items including clay, additives, fragrances and other supplies. Spare parts in inventory is recorded net of a valuation reserve based on aging. The spare parts reserve was $2.9 million as of July 31, 2023, and $2.7 million as of July 31, 2022. T RANSLATION OF F OREIGN C URRENCIES Assets and liabilities of foreign subsidiaries, where the local currency is the functional currency, are translated to U.S. Dollars at the exchange rates in effect at period end. Income statement items are translated at the average exchange rate on a monthly basis. Resulting translation adjustments are recorded as a separate component of stockholders’ equity. I NTANGIBLES AND G OODWILL We amortize most of our intangibles on a straight-line basis over periods ranging from 10 to 20 years. Our customer list intangible asset is amortized at an accelerated amortization rate in the earlier years to reflect the expected pattern of decline in the related benefits over time. Intangible amortization was $0.3 million in fiscal year 2023 and $0.5 million in fiscal year 2022. Some intangible assets were determined to have indefinite lives and are not amortized, specifically one acquired trademark recorded at $0.4 million. Our estimated intangible amortization expense for the next five fiscal years is as follows (in thousands): 2024 $ 129 2025 $ 105 2026 $ 102 2027 $ 99 2028 $ 94 The remaining weighted average amortization period of our intangibles subject to amortization is as follows (in years): Weighted Average Amortization Period Patents 11.0 Customer list 0.3 Total intangible assets subject to amortization 10.0 We periodically review indefinite-lived intangibles and goodwill to assess for impairment. Our review entails a qualitative analysis of triggering events and if identified a further analysis is performed based on cash flow considerations and other approaches that require significant judgment with respect to volume, revenue, expenses and allocations. Impairment occurs when the carrying value exceeds the fair value. In fiscal year 2023, all of our goodwill was attributed only to the Business to Business operating segment. We performed our annual impairment assessment and identified no triggering events that would indicate the need for impairment of the goodwill. During fiscal year 2022, we determined, as a result of lower share prices and the continued adverse impacts of rising costs and additional expenses to prevent supply chain disruptions, that we had a triggering event that necessitated a goodwill impairment test. As a result, it was determined that the carrying value of our Retail and Wholesale Products Group reporting unit was higher than its fair value and recognized a goodwill impairment of $5.6 million, which left no remaining goodwill in the Retail and Wholesale Products Group reporting unit. No impairment was recognized for the Business to Business operating segment in fiscal year 2022. O VERBURDEN R EMOVAL AND M INING C OSTS We surface mine sorbent minerals 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 from the mine site, thus exposing the sorbent material used in a majority of our production processes. These stripping costs incurred during production are treated as a variable inventory production cost and are included in cost of goods sold in the period they are incurred. Stripping costs included in cost of goods sold were approximately $4.0 million and $2.7 million for fiscal years 2023 and 2022, respectively. Pre-production overburden removal costs associated with opening a new mine during the development phase are deferred. Total pre-production costs, including the overburden removal costs, that were capitalized in fiscal years 2023 and 2022 were $0.1 million and $1.3 million respectively. The decrease was due to a new mine going into production in fiscal year 2023. Capitalized development costs are amortized when the sorbent material is removed from the mine and used to produce product for sale. At the end of fiscal year 2023, the amount of development costs that are being amortized is $4.3 million. 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 rights, including legal fees and drilling expenses, are also capitalized. As of both fiscal years ending July 31, 2023 and July 31, 2022 we had $13.6 million of land and $2.2 million of gross mineral rights included in land and mineral rights on the Consolidated Balance Sheets. Any prepaid royalties that may be offset against future royalties due upon extraction of the mineral are also capitalized. Prepaid royalties included in current prepaid expenses and in non-current other assets on the Consolidated Balance Sheets were approximately $2.0 million for both fiscal years ending July 31, 2023 and July 31, 2022. R ECLAMATION 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. As of July 31, 2023 and 2022, we have recorded an estimated net reclamation asset of $2.2 million and $1.8 million, respectively, and a corresponding estimated reclamation liability of $4.5 million as of July 31, 2023 and $3.8 million as of July 31, 2022. These values represent the discounted present value of the estimated future mining reclamation and landfill closure costs at the production plants. Additional mining activity in fiscal year 2023 and disturbance of land accounts for a majority of the increase in the reclamation asset and liability. P ROPERTY , P LANT AND E QUIPMENT Property, plant and equipment are generally depreciated using the straight-line method over their estimated useful lives which are listed below. Depreciation expense was $15.3 million and $13.0 million in fiscal years 2023 and 2022, respectively. Major improvements and betterments are capitalized, while maintenance and repairs that do not extend the useful life of the applicable assets are expensed as incurred. Interest expense may also be capitalized for assets that require a period of time to get them ready for their intended use. There was no capitalized interest in fiscal years 2023 and 2022. Years Buildings and leasehold improvements 3 - 40 Machinery and equipment Packaging 2 - 20 Processing 2 - 25 Mining and other 2 - 15 Office furniture and equipment 2 - 15 Vehicles 2 - 15 Property, plant and equipment are carried at cost on the Consolidated Balance Sheets and are reviewed for possible impairment on an annual basis or when circumstances indicate impairment that an asset may become impaired. We take into consideration idle and underutilized equipment and review business plans for possible impairment. When impairment is indicated, an impairment charge is recorded for the difference between the carrying value of the asset and its fair market value. In fiscal year 2023, we recognized $0.9 million in impairment losses for fixed assets no longer in use. The impairment is included in cost of goods sold on the Consolidated Statement of Operations. There was no impairment recognized in fiscal year 2022. Capital parts are long-lived spare parts that are recorded net of a valuation reserve based on aging. The capital parts reserve was $2.0 million as of July 31, 2023, and $1.8 million as of July 31, 2022. 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 Consolidated Balance Sheet is $2.5 million for the Georgia landfill modification reserve which began in the third quarter of fiscal year 2023. Refer to Note 11 for further details. T RADE P ROMOTIONS We routinely commit to one-time or ongoing trade promotion programs, primarily in our Retail and Wholesale Products Group. All such costs are netted against sales. We have accrued liabilities at the end of each period for the estimated expenses incurred but not yet paid for these programs. Promotional reserves are provided for sales incentives made directly to consumers, such as coupons, and sales incentives made to customers, such as slotting, discounts based on sales volume, cooperative marketing programs and other arrangements. We use judgment for estimates to determine our trade spending liabilities. We rely on our historical experience of trade spending patterns and that of the industry, current trends and forecast data. A DVERTISING Advertising costs for the development of printed materials, television commercials, web-based digital banners, web-based social media and sales videos are deferred and expensed upon the first use of the materials, unless such amounts are immaterial. Costs paid for communicating advertising over a period of time, such as television air time, radio commercials and print media advertising space, are deferred and expensed on a pro-rata basis. All other advertising costs, including participation in industry conventions and shows and market research, are expensed when incurred. All advertising costs are part of selling, general and administrative expenses. Advertising expenses were approximately $7.4 million and $4.0 million in fiscal years 2023 and 2022, respectively. F AIR V ALUE OF F INANCIAL I NSTRUMENTS Non-derivative financial instruments included in the Consolidated Balance Sheets are cash and cash equivalents and notes payable. These instruments, except for notes payable, were carried at amounts approximating fair value as of July 31, 2023 and 2022. See Note 4 of the Notes to the Consolidated Financial Statements for additional information regarding the fair value of our financial instruments, including notes payable. R EVENUE R ECOGNITION 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 $0.5 million as of July 31, 2022. There is no liability for advance payments as of July 31, 2023. This liability is reported in Other Accrued Expenses on the Consolidated Balance Sheets. Revenue recognized during fiscal year 2023 that was included in the liability for advance payments at the beginning of the year was $0.5 million. C OST OF GOODS SOLD Cost of goods sold consists of all manufacturing costs, including depreciation and amortization related to assets used in the manufacturing and distribution process, inbound and outbound freight, inspection costs, purchasing costs associated with materials and packaging used in the production process and warehouse and distribution costs. Natural gas forward contracts are accounted for as normal purchases. S HIPPING AND H ANDLING C OSTS Shipping and handling costs are included in cost of goods sold and were approximately $57.4 million and $48.5 million for fiscal years 2023 and 2022, respectively. The increase is primarily related to a key customer switching from pick up to delivered. S ELLING , G ENERAL AND A DMINISTRATIVE E XPENSES Selling, general and administrative expenses 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. R ESEARCH AND D EVELOPMENT Research and development costs of approximately $1.2 million and $2.1 million were charged to expense as incurred for fiscal years 2023 and 2022, respectively, and are recorded in selling, general and administrative expenses. P ENSION AND P OSTRETIREMENT B ENEFIT C OSTS We historically provided a defined benefit pension plan for eligible salaried and hourly employees and we made contributions to fund the plan. We also provide a postretirement health benefit plan to domestic salaried employees who qualify under the plan’s provisions. The postretirement health benefit plan is unfunded. Our pension and postretirement health benefit plans are accounted for using actuarial valuations required by ASC 715, Compensation – Retirement Benefits . The funded status of our defined pension and postretirement health benefit plans are recognized on the Consolidated Balance Sheets. Changes in the funded status that arise during the period but are not recognized as components of net periodic benefit cost are recognized within other comprehensive income, net of income tax. In fiscal year 2023 we terminated the pension plan. See Note 8 of the Notes to the Consolidated Financial Statements for additional information. S TOCK -B ASED C OMPENSATION We account for stock options and restricted stock issued under our long-term incentive plans in accordance with ASC 718, Compensation – Stock Compensation . The fair value of stock-based compensation is determined at the grant date. The related compensation expense is recognized over the appropriate vesting period. Forfeitures are recognized as they occur. See Note 7 of the Notes to the Consolidated Financial Statements for additional information. I NCOME TAXES Deferred income tax assets and liabilities are recorded for the impact of temporary differences between the tax basis of assets and liabilities and the amounts recognized for financial reporting purposes. Deferred tax assets are reviewed and a valuation allowance is established if management believes that it is more likely than not that some portion of our deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in the tax provision in the period of change. In addition to existing valuation allowances, we provide for uncertain tax positions, if necessary, when such tax positions do not meet the recognition thresholds or measurement standards prescribed by ASC 740, Income Taxes . Amounts for uncertain tax positions are adjusted when new information becomes available or when positions are effectively settled. We recognize interest and penalties accrued related to uncertain tax positions in income tax expense. U.S. income tax expense and foreign withholding taxes are provided on remittances of foreign earnings and on unremitted foreign earnings that are not indefinitely reinvested. Where unremitted foreign earnings are indefinitely reinvested, no provision for federal or state tax expense is recorded. When circumstances change and we determine that some or all of the undistributed earnings will be remitted in the foreseeable future, a corresponding expense is accrued in the current period. See Note 5 of the Notes to the Consolidated Financial Statements for additional information about income taxes. EARNINGS PER SHARE We utilize the two-class method to report our earnings per share ("EPS"). The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared and participation rights in undistributed earnings. Common Stock is entitled to cash dividends equal to at least 133.33% on a per share basis of the cash dividend paid on Class B Stock. In computing earnings per share, the Company has allocated dividends declared to Common and Class B shares based on amounts actually declared for each class of stock and 33.33% more of the undistributed earnings have been allocated to Common Stock than to the Class B shares on a per share basis. Common Stock is entitled to one vote per share and Class B Stock is entitled to ten votes per share. Common Stock have no conversion rights. Class B Stock is convertible on a share-by-share basis into Common Stock at any time and is subject to mandatory conversion under certain circumstances. Basic EPS is computed by dividing net earnings, reduced for any distributed and undistributed earnings allocated to unvested restricted shares, by the weighted-average number of shares outstanding during the period for each class of share. Diluted EPS, for each class of common stock, is computed by dividing net earnings by the weighted-average number of common shares and potential common shares outstanding during the period. Dilution for common stock takes into consideration the effect of both unvested restricted shares and convertible Class B shares, if the effect is dilutive. Dilution for Class B takes into consideration the effect of unvested restricted shares, if the effect is dilutive. Below is a reconciliation of the calculation of basic and diluted EPS. For the year ended July 31, 2023 (in thousands, except for per share data) Total Common Class B Net income $ 29,551 $ 22,712 $ 6,839 Distributed and undistributed earnings on restricted shares (1,518) (1,232) (286) Income available to stockholders $ 28,033 $ 21,480 $ 6,553 Net Income (Numerator) $ 21,480 $ 6,553 Weighted Average Shares Outstanding (Denominator) 4,825 1,959 Basic EPS $ 4.45 $ 3.35 Effect of dilution - Net Income (1) $ 6,553 $ — Net income assuming dilution (Numerator) $ 28,033 $ 6,553 Effect of dilution - Shares (1) 1,959 $ — Shares assuming dilution (Denominator) 6,784 $ 1,959 Diluted EPS $ 4.13 $ 3.35 (1) The impact of unvested restricted stock was anti-dilutive therefore not included in the calculation of diluted EPS N EW A CCOUNTING P RONOUNCEMENTS 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.

OPERATING SEGMENTS Level 1 (Not

OPERATING SEGMENTS Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
OPERATING SEGMENTS [Abstract]
Operating Segments	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 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 reportable operating segments: (1) Retail and Wholesale Products Group and (2) Business to Business 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, the farm and fleet channel, drugstore chains, pet specialty retail outlets, dollar stores, retail grocery stores, distributors of industrial cleanup and automotive products, environmental service companies, sports field product users and marketers of consumer products. The Business to Business Products Group customers include: processors and refiners of edible oils, renewable diesel, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; and distributors of animal health and nutrition products. Net sales for our principal products by segment are as follows (in thousands): Business to Business Products Group Retail and Wholesale Products Group Year Ended July 31, Product 2023 2022 2023 2022 Cat Litter $ — $ — $ 226,335 $ 196,278 Industrial and Sports — — 44,291 38,932 Agricultural and Horticultural 40,275 30,419 — — Bleaching Clay and Fluids Purification 77,643 62,051 — — Animal Health and Nutrition 24,477 20,909 — — Net Sales $ 142,395 $ 113,379 $ 270,626 $ 235,210 Net sales and operating income for each segment are provided below. The accounting policies of the segments are the same as those described in the Note 1 of the Notes to the Consolidated Financial Statements. We do not rely on any operating segment asset allocations and we do not consider them meaningful because of the shared nature of our production facilities; however, we have estimated the segment asset allocations below for those assets for which we can reasonably determine. The unallocated asset category is the remainder of our total assets. We have refined the basis of allocation for certain of our assets as of April 30, 2023, and we have restated the allocation of assets as of July 31, 2022 presented below to enhance comparability. The asset allocation is estimated and is not a measure used by our chief operating decision maker about allocating resources to the operating segments or in assessing their performance. The corporate expenses line in the table below represents 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 annual incentive plan bonus accrual. As of July 31, Assets 2023 2022 (in thousands) Business to Business Products $ 85,798 $ 77,840 Retail and Wholesale Products 134,974 125,293 Unallocated assets 65,463 46,478 Total Assets $ 286,235 $ 249,611 Year Ended July 31, Net Sales Income 2023 2022 2023 2022 (in thousands) Business to Business Products $ 142,395 $ 113,379 $ 36,573 $ 24,344 Retail and Wholesale Products 270,626 235,210 36,119 6,252 Net Sales $ 413,021 $ 348,589 Corporate Expenses (31,652) (25,775) Income from Operations 41,040 4,821 Total Other Income, Net (6,362) 888 Income Before Income Taxes 34,678 5,709 Income Tax Expense (5,195) (97) Net Income $ 29,483 $ 5,612 Net Loss Attributable to Noncontrolling Interest $ (68) $ (62) Net Income Attributable to Oil-Dri $ 29,551 $ 5,674 The following is a summary by fiscal year of financial information by geographic region (in thousands): 2023 2022 Sales to unaffiliated customers by: Domestic operations $ 390,963 $ 328,696 Foreign subsidiaries $ 22,058 $ 19,893 Sales or transfers between geographic areas: Domestic operations $ 6,436 $ 6,418 Foreign subsidiaries $ 69 $ 161 Income (Loss) before income taxes: Domestic operations $ 33,686 $ 6,552 Foreign subsidiaries $ 992 $ (843) Net Income (Loss) attributable to Oil-Dri: Domestic operations $ 28,494 $ 6,430 Foreign subsidiaries $ 1,057 $ (756) Identifiable assets: Domestic operations $ 271,627 $ 236,622 Foreign subsidiaries $ 14,608 $ 12,989 Included within identifiable assets for our foreign subsidiaries is cash held at foreign banks of $5.2 million and $3.3 million as of July 31, 2023 and July 31, 2022, respectively. Sales to Walmart, our largest customer, are included in our Retail and Wholesale Products Group. The percentage of consolidated net sales and net accounts receivable attributed to Walmart are shown in the table below: 2023 2022 Net sales for the years ended July 31 19% 16% Net accounts receivable as of July 31 26% 21% There are no other customers with sales equal to or greater than 10% of our total sales.

DEBT Level 1 (Notes)

DEBT Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
Notes Payable [Abstract]
Debt	DEBT The composition of notes payable is as follows as of July 31 (in thousands): 2023 2022 Amended and Restated Note Purchase and Private Shelf Agreement. Annual principal installments on May 15: $1,000 in each fiscal year 2021 through 2030. Interest is payable semi-annually at an annual rate of 3.95% [Series B] $ 7,000 $ 8,000 Amended and Restated Note Purchase and Private Shelf Agreement. Annual principal installments on Dec 15: $5,000 in each fiscal year 2028 through 2032. Interest is payable semi-annually at an annual rate of 3.25% [Series C] 25,000 25,000 Less current maturities of notes payable (1,000) (1,000) Less unamortized debt issuance costs $ (173) $ (202) Noncurrent notes payable $ 30,827 $ 31,798 We are party to an Amended and Restated Note Purchase and Private Shelf Agreement (as amended, the "Note Agreement") with PGIM, Inc. ("Prudential") and certain existing noteholders and purchasers affiliated with Prudential named therein. Pursuant to the Note Agreement on May 15, 2021 we issued $10 million in aggregate principal amount of our 3.95% Series B Senior Notes due May 15, 2030, of which $7 million aggregate principal amount remained outstanding as of July 31, 2023. On December 16, 2021, under the Note Agreement we issued an additional $25 million in aggregate principal amount of our 3.25% Series C Senior Notes due December 16, 2031, all of which remained outstanding as of July 31, 2023. The Amended Note Agreement also provides us with the ability to request, from time to time, that Prudential affiliate(s) purchase, at Prudential’s discretion and on an uncommitted basis, additional senior unsecured notes of Oil-Dri (the “Shelf Notes,” and collectively with the Series A Notes, Series B Notes, and Series C Notes, the “Notes”) in an aggregate principal amount of up to $75 million minus the aggregate principal amount of Notes then outstanding and Shelf Notes that have been accepted for purchase. Interest payable on any Shelf Note agreed to be purchased under the Note Agreement will be at a rate determined by Prudential and will mature no more than fifteen years after the date of original issue of such Shelf Note. On August 30, 2022, we entered into Amendment No. 3 (the "Third Amendment") to the Note Agreement. The Third Amendment modified the existing fixed charge coverage financial covenant and replaced the existing consolidated debt financial covenant with a maximum debt to earnings ratio and effected certain changes consistent with the Sixth Amendment to the Credit Agreement (defined below), including modifying the method for calculating consolidated EBITDA and the excess leverage fee. On September 21, 2023, the Company entered into Amendment No. 4 (the “Fourth Amendment”) to the Note Agreement. The Fourth Amendment extended the time frame for issuing and selling Shelf Notes to September 21, 2026. The following is a schedule by fiscal year of future principal maturities of notes payable as of July 31, 2023 (in thousands): 2024 $ 1,000 2025 1,000 2026 1,000 2027 1,000 2028 6,000 We are party to 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. The agreement provides for a $45 million unsecured revolving credit facility, including a maximum of $10 million for letters of credit. The Credit Agreement contains restrictive covenants that, among other things and under various conditions, limit our ability to incur additional indebtedness or to dispose of assets. On August 30, 2022, we entered into the Sixth Amendment to the Credit Agreement (the "Sixth Amendment"). The Sixth Amendment extended the facility termination date to August 30, 2027; replaced the LIBOR-based reference rate with an adjusted term Secured Overnight Financing Rate ("SOFR"); revised the method for calculating consolidated EBITDA and consolidated debt for purposes of the Credit Agreement; modified certain restrictive covenants, including increasing the unsecured indebtedness basket from $50 million to $75 million; and revised 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. As of July 31, 2023, and 2022, we were in compliance with the covenants. There were no borrowings during either fiscal year 2023 or 2022. However, we had $1.0 million of letters of credit outstanding as of July 31, 2023, and 2022 under this agreement.

FINANCIAL INSTRUMENTS Level 1 (

FINANCIAL INSTRUMENTS Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
FAIR VALUE [Abstract]
Fair Value	FINANCIAL INSTRUMENTS Fair Value 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 one of three categories based on the lowest level of input that is significant to the fair value measurement. Categories in the 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 classified as Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. These cash instruments are primarily money market funds and are included in cash and cash equivalents on the Consolidated Balance Sheets. We had $15.4 million cash equivalents as of July 31, 2023 and had no cash equivalents as of July 31, 2022. Balances of accounts receivable and accounts payable approximated their fair values at July 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 approximately $29.7 million as of July 31, 2023 and $31.8 million as of July 31, 2022. The fair value was estimated using the exit price notion of fair value and is classified as Level 2. The decrease in fair value is attributable to the principal and interest payments. See Note 3 of the Notes to the Consolidated Financial Statements for further information about such debt. 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 1 of the Notes to Consolidated Financial Statements for further information about goodwill and other intangible assets. Concentration of Credit Risk

INCOME TAXES Level 1 (Notes)

INCOME TAXES Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
INCOME TAXES [Abstract]
Income Taxes	INCOME TAXES The provision for income tax expense by fiscal year consists of the following (in thousands): 2023 2022 Current Federal $ 7,503 $ 1,681 Foreign 4 16 State 2,119 696 Current Income Tax Total 9,626 2,393 Deferred Federal (3,864) (1,868) Foreign — (41) State (567) (387) Deferred Income Tax Total (4,431) (2,296) Total Income Tax Expense $ 5,195 $ 97 Principal reasons for variations between the statutory federal rate and the effective rates by fiscal year were as follows: 2023 2022 U.S. federal income tax rate 21.0 % 21.0 % Depletion deductions allowed for mining (7.7) (20.1) State income tax expense, net of federal tax expense 2.9 4.5 Nondeductible officer compensation 1.5 2.4 Tax credits (0.3) (3.1) Valuation allowance - foreign (0.2) 6.9 Foreign tax differential (0.6) (5.3) Prior year income taxes (1.3) (9.5) Goodwill impairment — 3.1 Other (0.3) 1.8 Effective income tax rate 15.0 % 1.7 % The U.S. effective tax rate for the year ended July 31, 2023 and July 31, 2022 were 15.0% and 1.7%, respectively, based on income before taxes. The fiscal 2023 effective tax rate was lower than the statutory rate primarily due to favorable depletion deduction and a benefit from an anticipated federal tax return amendment. The fiscal 2023 effective tax rate was negatively impacted primarily due to nondeductible excess officers compensation. The fiscal 2022 effective tax rate benefited due to a favorable depletion deduction as well as federal tax return amendments. The fiscal 2022 effective tax rate was also negatively impacted primarily due to a nondeductible goodwill impairment as well as nondeductible officers compensation. The Consolidated Balance Sheets included the following tax effects of cumulative temporary differences as of July 31 (in thousands): ` 2023 2022 Assets Liabilities Assets Liabilities Depreciation $ — $ 4,338 $ — $ 4,356 Deferred compensation 1,246 — 1,499 — Capitalized R&D 269 — — — Postretirement benefits 478 — 209 — Goodwill — 24 62 — Lease right of use assets — 2,412 — 2,700 Lease liabilities 2,747 — 3,040 — Allowance for doubtful accounts 135 — 95 — Deferred marketing expenses — 11 — 22 Other assets 608 — 1 — Other liabilities — 301 — 23 Accrued expenses 5,303 — 2,362 — Tax credits 301 — 223 — Amortization 935 — 1,046 — Inventories 203 — 366 — Depletion — 158 — 154 Stock-based compensation 1,634 — 1,522 — Reclamation 627 — 549 — Other liabilities - foreign — 41 — 42 Other assets – foreign 1,698 — 1,761 — Valuation allowance (1,698) — (1,761) — Total deferred taxes $ 14,486 $ 7,285 $ 10,974 $ 7,297 Deferred tax assets for post retirement benefits were affected by the termination of our pension plan. See Note 8 of the Notes to the Consolidated Financial Statements for further information about postretirement benefits. Deferred tax assets and liabilities related to lease decreased as leases are expiring. Deferred tax assets for accrued expenses reflected a higher accrual for the annual discretionary bonus. We recorded a valuation allowance of $1.7 million and $1.8 million as of July 31, 2023 and July 31, 2022, respectively, for the amount of the deferred tax benefit related to our foreign net operating loss carryforwards since we believe it is unlikely we will realize the benefit of these tax attributes in the future. As of July 31, 2023, we have total net operating loss carryforwards from state jurisdictions of approximately $3.4 million. The carryforward expiration dates vary by state. No valuation allowance has been established for these carryforwards since we expect our future profitability will allow us to fully realize these tax benefits. With the exception of our foreign subsidiary in Canada, none of our foreign subsidiaries have generated any untaxed foreign income, therefore we have not provided for any related income taxes for these subsidiaries. We had no liabilities for unrecognized tax benefits based on tax positions related to the current and prior fiscal years as of July 31, 2023 and 2022; correspondingly, no related interest and penalties were recognized as income tax expense and there were no accruals for such items in either of these fiscal years. We are subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions. We are currently being audited by the Internal Revenue Service ("IRS") for Fiscal Year 2020. The federal tax returns for fiscal years 2019-2021 remain open for examination. Foreign and U.S. state jurisdictions have statutes of limitations generally ranging from three

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
Stockholders' Equity Attributable to Parent [Abstract]
Accumulated Other Comprehensive (Loss) Income	The following table summarizes the changes in accumulated other comprehensive income by component (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2021 $ (4,428) $ 311 $ (4,117) Other comprehensive income (loss) before reclassifications, net of tax 2,081 a) (252) 1,829 Amounts reclassified from accumulated other comprehensive income, net of tax 105 — 105 Net current-period other comprehensive income (loss), net of tax 2,186 (252) 1,934 Balance as of July 31, 2022 $ (2,242) $ 59 $ (2,183) Other comprehensive income (loss) before reclassifications, net of tax 1,736 a) (323) 1,413 Amounts reclassified from accumulated other comprehensive income, net of tax (36) — (36) Curtailment/Settlement on Pension Plan 1,554 b) — 1,554 Net current-period other comprehensive income (loss), net of tax 3,254 (323) 2,931 Balance as of July 31, 2023 $ 1,012 $ (264) $ 748 a) Amounts are net of taxes of $0.4 million and $0.7 million in fiscal years 2023 and 2022, respectively, and are included in Other Comprehensive Loss. b) Amount is net of taxes of $0.5 million in fiscal year 2023. Amount is included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 8 of the Notes to the Consolidated Financial Statements for further information about pension and postretirement health benefits.

STOCK-BASED COMPENSATION (Notes

STOCK-BASED COMPENSATION (Notes)	12 Months Ended
	Jul. 31, 2023
STOCK-BASED COMPENSATION [Abstract]
Stock-Based Compensation	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 July 31, 2023, there were 241,540 shares available for future grants under this plan. RESTRICTED S TOCK All non-vested restricted stock as of July 31, 2023 was issued under the 2006 Plan with vesting periods generally from two A summary of restricted stock transactions under the plans is shown below. Number of Weighted Weighted Unamortized Non-vested restricted stock outstanding at July 31, 2021 370 $ 33.96 3.3 $ 7,073 Granted 126 $ 33.48 Vested (71) $ 34.64 Forfeited (43) $ 34.29 Non-vested restricted stock outstanding at July 31, 2022 382 $ 33.63 3.0 $ 7,064 Granted 63 $ 29.88 Vested (73) $ 35.06 Forfeited (24) $ 29.22 Non-vested restricted stock outstanding at July 31, 2023 348 $ 32.95 2.3 $ 5,129 Stock-based compensation for restricted stock of $2.4 million and $2.1 million, net of related tax effect, was recognized in fiscal years 2023 and 2022, respectively. The total restricted stock compensation related tax benefit was $0.8 million and $0.7 million in fiscal years 2023 and 2022, respectively.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
EMPLOYEE BENEFIT PLANS [Abstract]
Pension and Other Postretirement Benefits	PENSION AND OTHER POSTRETIREMENT BENEFITS The Oil-Dri Corporation of America Pension Plan ("Pension Plan") was a defined benefit pension plan for eligible salaried and hourly employees. Pension benefits were 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, Oil-Dri 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 was closed to new participants and existing participants no longer earned 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. On April 27, 2023, the Executive Committee of the Company's Board of Directors approved the distribution of the surplus to a qualified defined contribution retirement fund. A portion of the surplus to be distributed to pension participants was irrevocably distributed to the 401(k) plan on April 28, 2023, which resulted in an additional $2.8 million charge to net income included in "Loss on pension termination" within "Other Income (Expense), Net". The remaining $0.8 million to be held by the 401(k) plan to cover qualified future plan expenses was recognized as a prepaid asset. A postretirement health benefits plan is also provided to domestic salaried employees who meet specific age, participation and length of service requirements at the time of retirement. Eligible employees may elect to continue their health care coverage under the Oil-Dri Corporation of America Employee Benefits Plan until the date certain criteria are met, including attaining the age of Medicare eligibility. We have the right to modify or terminate the postretirement health benefit plan at any time. A 401(k) savings plan is maintained under which we match a portion of employee contributions. This plan is available to essentially all domestic employees following a specific number of days of employment. Our contributions to this plan, and to similar plans maintained by our foreign subsidiaries, were $3.2 million and $2.9 million for fiscal years 2023 and 2022, respectively. Obligations and Funded Status The following tables provide a reconciliation of changes in the plans’ benefit obligations, asset fair values and funded status by fiscal year (in thousands): Pension Benefits Postretirement Health Benefits 2023 2022 2023 2022 Change in benefit obligation : Benefit obligation, beginning of year $ 33,741 $ 42,267 $ 2,119 $ 3,125 Service cost — — 84 123 Interest cost 1,009 1,068 73 58 Actuarial gain (3,054) (8,386) (429) (1,155) Benefits paid (941) (1,208) 6 (32) Settlements (30,755) — — — Benefit obligation, end of year — 33,741 1,853 2,119 Change in plan assets: Fair value of plan assets, beginning of year 34,989 40,388 — — Actual return on plan assets 502 (4,191) — — Employer contribution — — (6) 32 Benefits paid (941) (1,208) 6 (32) Settlements (30,755) — — — Surplus Transfer (3,647) — — — Fair value of plan assets, end of year 148 34,989 — — Funded status, recorded in Consolidated Balance Sheets $ 148 $ 1,248 $ (1,853) $ (2,119) See “Cash Flows” below for further information about employer contributions and benefits payments. There was no accumulated benefit obligation for the Pension Plan as of July 31, 2023. The accumulated benefit obligation for the Pension Plan was $33.7 million as of July 31, 2022. The following table shows amounts recognized in the Consolidated Balance Sheets as of July 31 (in thousands): Pension Benefits Postretirement Health 2023 2022 2023 2022 Deferred income taxes $ — $ (335) $ 478 $ 544 Other current assets $ 148 $ — $ — $ — Other current liabilities $ — $ — $ (100) $ (73) Other noncurrent liabilities $ — $ 1,248 $ (1,753) $ (2,046) Accumulated other comprehensive loss – net of tax: Net actuarial loss (gain) $ — $ 2,998 $ (1,012) $ (756) Benefit Costs and Amortizations The following table shows the components of the net periodic pension and postretirement health benefit costs by fiscal year (in thousands): Pension Cost Postretirement Health Benefit Cost 2023 2022 2023 2022 Service cost $ — $ — $ 84 $ 123 Interest cost 1,009 1,068 73 58 Expected return on plan assets (1,673) (2,586) — — Amortization of: Prior service income — — (6) (6) Other actuarial loss 42 145 (83) — Settlement cost 5,544 — — — Net periodic benefit (income) cost $ 4,922 $ (1,373) $ 68 $ 175 Service cost is recorded in Other, net within Other Income (Expense) in the Consolidated Statements of Operations. As the pension plan was frozen, there was no service cost recorded in fiscal years 2022 or 2023. The following table shows amounts, net of tax, that are recognized in other comprehensive income by fiscal year (in thousands): Pension Benefits Postretirement Health Benefits 2023 2022 2023 2022 Net actuarial gain $ (1,412) $ (1,203) $ (324) $ (878) Amortization of: Prior service income — — 5 5 Amortization of actuarial loss (32) (110) 63 — Curtailment/Settlement $ (1,554) $ — $ — $ — Total recognized in other comprehensive income $ (2,998) $ (1,313) $ (256) $ (873) Cash Flows We have funded the Pension Plan 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 made no contributions in fiscal years 2022 or 2023. The Pension Plan was terminated in fiscal year 2023 and there will be no more contributions to the Pension Plan. The postretirement health plan is an unfunded plan. Our policy is to pay health insurance premiums and claims from our assets. The following table shows the estimated future benefit payments by fiscal year (in thousands): Postretirement 2024 $ 100 2025 $ 132 2026 $ 129 2027 $ 133 2028 $ 136 2029-2033 $ 867 Assumptions Our pension benefit and postretirement health benefit obligations and the related effects on operations are calculated using actuarial models. Critical assumptions that are important elements of plan expenses and asset/liability measurements include discount rate and expected return on assets for the Pension Plan and health care cost trend for the postretirement health plan. We evaluate these critical assumptions at least annually. Other assumptions involving demographic factors such as retirement age, mortality and turnover are evaluated periodically and are updated to reflect our experience and to meet regulatory requirements. Actual results in any given year will often differ from actuarial assumptions because of economic and other factors. The assumptions used in the previous calculations by fiscal year were as follows: Pension Benefits Postretirement Health Benefits 2023 2022 2023 2022 Discount rate for net periodic benefit costs —% 2.57% 3.82% 2.10% Discount rate for year-end obligations —% 4.05% 4.90% 3.82% Rate of increase in compensation levels for net periodic benefit costs —% —% —% —% Rate of increase in compensation levels for year-end obligations —% —% —% —% Long-term expected rate of return on assets —% 6.50% —% —% The discount rate was based on the FTSE Pension Discount Curve to determine for the Pension Plan and the postretirement health plan, the single equivalent rate that would yield the same present value as the specific plan’s expected cash flows. Our expected rate of return on Pension Plan assets is determined by our asset allocation, our historical long-term investment performance, our estimate of future long-term returns by asset class (using input from our actuaries, investment managers and investment advisors), and long-term inflation assumptions. For fiscal year 2023, the medical cost trend assumption used for the postretirement health benefit cost was 8.2%. The graded trend rate is expected to decrease to an ultimate rate of 4.9% in fiscal year 2044. Pension Plan Assets The investment objective for the Pension Plan assets was to optimize long-term return at a moderate level of risk in order to secure the benefit obligations to participants at a reasonable cost. To reach this goal, our investment structure included various asset classes, asset allocations and investment management styles that, in total, have a reasonable likelihood of producing a sufficient level of overall diversification that balances expected return with expected risk over the long-term. The Pension Plan does not invest directly in Company stock. We measured and monitored the plan’s asset investment performance and the allocation of assets through quarterly investment portfolio reviews. Investment performance was measured by absolute returns, returns relative to benchmark indices and any other appropriate basis of comparison. The Pension Plan was terminated in fiscal year 2023 and there are no targeted allocation percentages of plan assets for 2024. The actual allocation percentages of plan assets as of July 31, 2023: Asset Allocation 2023 2022 Cash and accrued income 100% —% Fixed income —% 36% Equity —% 64% The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets carried at fair value (in thousands): Fair Value At July 31, 2022 Total Quoted Significant Asset Class Cash and cash equivalents (a) $ 51 $ 51 $ — Equity securities (b) : U.S. companies 15,389 10,387 5,002 International companies 521 521 — Equity securities - international mutual funds: Developed market (c) 4,025 923 3,102 Emerging markets (d) 1,517 1,149 368 Commodities (e) 1,137 1,137 — Fixed Income: U.S. Treasuries 3,019 904 2,115 Debt securities(f) 1,656 — 1,656 Government sponsored entities (g) 1,256 — 1,256 Multi-strategy bond fund (h) 5,079 — 5,079 Money market fund (i) 389 — 389 Other (j) 950 — 950 Total $ 34,989 $ 15,072 $ 19,917 (a) Cash and cash equivalents consists of highly liquid investments which are traded in active markets. (b) This class represents equities traded on regulated exchanges, as well as funds that invest in a portfolio of such stocks. (c) These mutual funds seek long-term capital growth by investing no less than 80% of their assets in stocks of non- U.S. companies that are primarily in developed markets, but also may invest in emerging and less developed markets. (d) These mutual funds seek to track the performance of a benchmark index that measures the investment return of stock issued by companies located in emerging market countries. (e) These investments seek attractive total return by investing primarily in a diversified portfolio of commodity futures contracts and fixed income investments. (f) This class includes bonds and loans of U.S. and non-U.S. corporate issuers from diverse industries and bonds of domestic and foreign municipalities. (g) This class represents a beneficial ownership interest in a pool of single-family residential mortgage loans. These investments are generally not backed by the full faith and credit of the United States government, except for securities valued at $114,000 in our portfolio as of July 31, 2022. (h) This class invests at least 80% of its net assets in bonds and other fixed income instruments issued by governmental or private-sector entities. More than 30% of its net assets are invested in asset-backed and mortgage-backed securities. The fund may invest up to 20% of its net assets in securities below investment grade. (i) These money market mutual funds seek to provide current income consistent with liquidity and stability of principal by investing in a diversified portfolio of high quality, short-term, dollar-denominated debt securities. These funds may include securities issued or guaranteed as to principal and interest by the U.S. government or its agencies, short-term securities issued by domestic or foreign banks, domestic and dollar-denominated foreign commercial papers, and other short-term corporate obligations and obligations issued or guaranteed by one or more foreign governments. (j) This class includes funds that use a number of other strategies, including arbitrage, to obtain long-term positive returns. The portfolio of instruments may include equities, debt securities, real estate properties, warrants, options, swaps, future contracts, forwards or other types of derivative instruments.

DEFERRED COMPENSATION Level 1 (

DEFERRED COMPENSATION Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
DEFERRED COMPENSATION [Abstract]
Deferred Compensation	DEFERRED COMPENSATION Oil-Dri's deferred compensation plans permit directors and certain management employees to defer portions of their compensation and to earn interest on the deferred amounts. Participants have deferred $0.6 million and $0.7 million into these plans in fiscal years 2023 and 2022, respectively. We recorded $0.2 million of interest expense associated with these plans in both fiscal years 2023 and 2022. Payments to participants were $0.9 million and $0.4 million in fiscal years 2023 and 2022, respectively, and the total liability recorded for deferred compensation was $4.6 million and $4.8 million as of July 31, 2023 and 2022, respectively. The Oil-Dri Corporation of America Annual Incentive Plan provides certain executives with the opportunity to receive a deferred executive bonus award if certain financial goals are met. Deferred executive bonus awards of $1.4 million were awarded for fiscal year 2023 and $0.7 million executive bonus was awarded for fiscal year 2022 as financial targets under the provisions of the plan were achieved. These awards will vest and accrue interest over a 3-year period. Our deferred compensation plans are unfunded. We fund these benefits when payments are made, and the timing and amount of the payments are determined according to the plans' provisions and, for certain plans, according to individual employee agreements.

ACCRUED EXPENSES Level 1 (Notes

ACCRUED EXPENSES Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
ACCRUED EXPENSES [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses is as follows (in thousands): July 31, July 31, Salaries, Wages, Commissions and Employee Benefits 19,054 $ 13,439 Freight 3,078 4,022 Georgia Landfill Modification Reserve 2,469 — Trade promotions and advertising 2,292 1,180 Real Estate Tax 1,038 1,006 Other 8,937 10,438 $ 36,868 $ 30,085

OTHER CONTINGENCIES Level 1 (No

OTHER CONTINGENCIES Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
OTHER CONTINGENCIES [Abstract]
Other Contingencies Disclosure	OTHER CONTINGENCIES We 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. In the fourth quarter of fiscal year 2023, we have updated our estimate to reflect the latest developments in this matter. 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 Level 1 (Notes)

LEASES Level 1 (Notes)	12 Months Ended
	Jul. 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 Consolidated Financial Statements. We have no material finance leases, and variable costs for operating leases are immaterial. Operating lease costs are included in Cost of Goods Sold 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 Twelve Months Ended July 31, 2023 2022 Operating Lease Cost Operating lease cost $ 2,640 $ 2,776 Short-term operating lease cost 2 553 Supplemental cash flow information related to leases was as follows (in thousands): For the Twelve Months Ended July 31, 2023 2022 Other Information Cash paid for amounts included in the measurement of lease liabilities: 2,229 2,490 Right-of-use assets obtained in exchange for new operating lease liabilities 983 4,377 Operating lease ROU assets and operating lease liabilities are separately presented on the unaudited Consolidated Balance Sheet, excluding leases with an initial term of twelve months or less. Other supplemental balance sheet information related to leases was as follows: For the Twelve Months Ended July 31, 2023 2022 Weighted-average remaining lease term - operating leases 7.7 years 7.7 years Weighted-average discount rate - operating leases 4.03% 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 July 31, 2023 (in thousands): 2024 $ 2,257 2025 2,168 2026 1,848 2027 1,433 2028 884 Thereafter 3,827 Total 12,417 Less: imputed interest (1,735) Net lease obligation $ 10,682

SUBSEQUENT EVENTS Level 1 (Note

SUBSEQUENT EVENTS Level 1 (Notes)	12 Months Ended
	Jul. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On September 21, 2023, the Company entered into Amendment No. 4 (the “Fourth Amendment”) to the Note Agreement with Prudential. The Fourth Amendment extended the time frame for issuing and selling Shelf Notes to September 21, 2026.

RELATED PARTY TRANSACTIONS (Not

RELATED PARTY TRANSACTIONS (Notes)	12 Months Ended
	Jul. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	RELATED PARTIES One member of our Board of Directors retired from the role of President and Chief Executive Officer of a customer of ours on September 28, 2019 and is currently party to a post-employment consulting agreement with the customer. Total net sales to that customer, including sales to subsidiaries of that customer, were $0.2 million and $0.3 million for fiscal years 2023 and 2022, respectively. There was $10,768 of outstanding accounts receivable due from that customer, and its subsidiaries, as of July 31, 2023 and $5,608 outstanding accounts receivable as of July 31, 2022.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Level 2 (Policies)	12 Months Ended
	Jul. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Principles of Consolidation	P RINCIPLES OF C ONSOLIDATION The Consolidated Financial Statements include the accounts of Oil-Dri Corporation of America and its subsidiaries. All significant intercompany balances and transactions have been eliminated from the Consolidated Financial Statements.
Management Use of Estimates	M ANAGEMENT U SE OF E STIMATES
Cash and Cash Equivalents	C ASH AND C ASH E QUIVALENTS Cash equivalents are highly liquid investments with maturities of three months or less.
Trade Receivables	T RADE R ECEIVABLES 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.
Inventories	I NVENTORIES The composition of inventories was as follows as of July 31 (in thousands): 2023 2022 Finished goods $ 21,943 $ 18,142 Packaging 8,007 9,515 Spare parts, net $ 5,981 $ 4,904 Other 6,681 7,905 Inventories $ 42,612 $ 40,466
Translation of Foreign Currencies	T RANSLATION OF F OREIGN C URRENCIES Assets and liabilities of foreign subsidiaries, where the local currency is the functional currency, are translated to U.S. Dollars at the exchange rates in effect at period end. Income statement items are translated at the average exchange rate on a monthly basis. Resulting translation adjustments are recorded as a separate component of stockholders’ equity.
Intangibles and Goodwill	I NTANGIBLES AND G OODWILL We amortize most of our intangibles on a straight-line basis over periods ranging from 10 to 20 years. Our customer list intangible asset is amortized at an accelerated amortization rate in the earlier years to reflect the expected pattern of decline in the related benefits over time. Intangible amortization was $0.3 million in fiscal year 2023 and $0.5 million in fiscal year 2022. Some intangible assets were determined to have indefinite lives and are not amortized, specifically one acquired trademark recorded at $0.4 million. Our estimated intangible amortization expense for the next five fiscal years is as follows (in thousands): 2024 $ 129 2025 $ 105 2026 $ 102 2027 $ 99 2028 $ 94 The remaining weighted average amortization period of our intangibles subject to amortization is as follows (in years): Weighted Average Amortization Period Patents 11.0 Customer list 0.3 Total intangible assets subject to amortization 10.0 We periodically review indefinite-lived intangibles and goodwill to assess for impairment. Our review entails a qualitative analysis of triggering events and if identified a further analysis is performed based on cash flow considerations and other approaches that require significant judgment with respect to volume, revenue, expenses and allocations. Impairment occurs when the carrying value exceeds the fair value. In fiscal year 2023, all of our goodwill was attributed only to the Business to Business operating segment. We performed our annual impairment assessment and identified no triggering events that would indicate the need for impairment of the goodwill.
Overburden Removal and Mining Costs	O VERBURDEN R EMOVAL AND M INING C OSTS We surface mine sorbent minerals 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 from the mine site, thus exposing the sorbent material used in a majority of our production processes. These stripping costs incurred during production are treated as a variable inventory production cost and are included in cost of goods sold in the period they are incurred. Stripping costs included in cost of goods sold were approximately $4.0 million and $2.7 million for fiscal years 2023 and 2022, respectively. Pre-production overburden removal costs associated with opening a new mine during the development phase are deferred. Total pre-production costs, including the overburden removal costs, that were capitalized in fiscal years 2023 and 2022 were $0.1 million and $1.3 million respectively. The decrease was due to a new mine going into production in fiscal year 2023. Capitalized development costs are amortized when the sorbent material is removed from the mine and used to produce product for sale. At the end of fiscal year 2023, the amount of development costs that are being amortized is $4.3 million.
Reclamation	R ECLAMATION 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.
Property, Plant and Equipment	P ROPERTY , P LANT AND E QUIPMENT Property, plant and equipment are generally depreciated using the straight-line method over their estimated useful lives which are listed below. Depreciation expense was $15.3 million and $13.0 million in fiscal years 2023 and 2022, respectively. Major improvements and betterments are capitalized, while maintenance and repairs that do not extend the useful life of the applicable assets are expensed as incurred. Interest expense may also be capitalized for assets that require a period of time to get them ready for their intended use. There was no capitalized interest in fiscal years 2023 and 2022. Years Buildings and leasehold improvements 3 - 40 Machinery and equipment Packaging 2 - 20 Processing 2 - 25 Mining and other 2 - 15 Office furniture and equipment 2 - 15 Vehicles 2 - 15 Property, plant and equipment are carried at cost on the Consolidated Balance Sheets and are reviewed for possible impairment on an annual basis or when circumstances indicate impairment that an asset may become impaired. We take into consideration idle and underutilized equipment and review business plans for possible impairment. When impairment is indicated, an impairment charge is recorded for the difference between the carrying value of the asset and its fair market value. In fiscal year 2023, we recognized $0.9 million in impairment losses for fixed assets no longer in use. The impairment is included in cost of goods sold on the Consolidated Statement of Operations. There was no impairment recognized in fiscal year 2022.
Other Current and Noncurrent Liabilities	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 Consolidated Balance Sheet is $2.5 million for the Georgia landfill modification reserve which began in the third quarter of fiscal year 2023. Refer to Note 11 for further details.
Trade Promotions	T RADE P ROMOTIONS We routinely commit to one-time or ongoing trade promotion programs, primarily in our Retail and Wholesale Products Group. All such costs are netted against sales. We have accrued liabilities at the end of each period for the estimated expenses incurred but not yet paid for these programs. Promotional reserves are provided for sales incentives made directly to consumers, such as coupons, and sales incentives made to customers, such as slotting, discounts based on sales volume, cooperative marketing programs and other arrangements. We use judgment for estimates to determine our trade spending liabilities. We rely on our historical experience of trade spending patterns and that of the industry, current trends and forecast data.
Advertising	A DVERTISING Advertising costs for the development of printed materials, television commercials, web-based digital banners, web-based social media and sales videos are deferred and expensed upon the first use of the materials, unless such amounts are immaterial. Costs paid for communicating advertising over a period of time, such as television air time, radio commercials and print media advertising space, are deferred and expensed on a pro-rata basis. All other advertising costs, including participation in industry conventions and shows and market research, are expensed when incurred. All advertising costs are part of selling, general and administrative expenses. Advertising expenses were approximately $7.4 million and $4.0 million in fiscal years 2023 and 2022, respectively.
Fair Value of Financial Instruments	F AIR V ALUE OF F INANCIAL I NSTRUMENTS Non-derivative financial instruments included in the Consolidated Balance Sheets are cash and cash equivalents and notes payable. These instruments, except for notes payable, were carried at amounts approximating fair value as of July 31, 2023 and 2022. See Note 4 of the Notes to the Consolidated Financial Statements for additional information regarding the fair value of our financial instruments, including notes payable.
Revenue Recognition	R EVENUE R ECOGNITION 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 $0.5 million as of July 31, 2022. There is no liability for advance payments as of July 31, 2023. This liability is reported in Other Accrued Expenses on the Consolidated Balance Sheets. Revenue recognized during fiscal year 2023 that was included in the liability for advance payments at the beginning of the year was $0.5 million.
Cost of Sales	C OST OF GOODS SOLD
Shipping and Handling Costs	S HIPPING AND H ANDLING C OSTS
Selling, General and Administrative Expenses	S ELLING , G ENERAL AND A DMINISTRATIVE E XPENSES Selling, general and administrative expenses 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.
Research and Development	R ESEARCH AND D EVELOPMENT Research and development costs of approximately $1.2 million and $2.1 million were charged to expense as incurred for fiscal years 2023 and 2022, respectively, and are recorded in selling, general and administrative expenses.
Pension and Postretirement Benefit Costs	P ENSION AND P OSTRETIREMENT B ENEFIT C OSTS We historically provided a defined benefit pension plan for eligible salaried and hourly employees and we made contributions to fund the plan. We also provide a postretirement health benefit plan to domestic salaried employees who qualify under the plan’s provisions. The postretirement health benefit plan is unfunded. Our pension and postretirement health benefit plans are accounted for using actuarial valuations required by ASC 715, Compensation – Retirement Benefits . The funded status of our defined pension and postretirement health benefit plans are recognized on the Consolidated Balance Sheets. Changes in the funded status that arise during the period but are not recognized as components of net periodic benefit cost are recognized within other comprehensive income, net of income tax. In fiscal year 2023 we terminated the pension plan. See Note 8 of the Notes to the Consolidated Financial Statements for additional information.
Stock-Based Compensation	S TOCK -B ASED C OMPENSATION We account for stock options and restricted stock issued under our long-term incentive plans in accordance with ASC 718, Compensation – Stock Compensation . The fair value of stock-based compensation is determined at the grant date. The related compensation expense is recognized over the appropriate vesting period. Forfeitures are recognized as they occur. See Note 7 of the Notes to the Consolidated Financial Statements for additional information.
Income Taxes	I NCOME TAXES Deferred income tax assets and liabilities are recorded for the impact of temporary differences between the tax basis of assets and liabilities and the amounts recognized for financial reporting purposes. Deferred tax assets are reviewed and a valuation allowance is established if management believes that it is more likely than not that some portion of our deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in the tax provision in the period of change. In addition to existing valuation allowances, we provide for uncertain tax positions, if necessary, when such tax positions do not meet the recognition thresholds or measurement standards prescribed by ASC 740, Income Taxes . Amounts for uncertain tax positions are adjusted when new information becomes available or when positions are effectively settled. We recognize interest and penalties accrued related to uncertain tax positions in income tax expense. U.S. income tax expense and foreign withholding taxes are provided on remittances of foreign earnings and on unremitted foreign earnings that are not indefinitely reinvested. Where unremitted foreign earnings are indefinitely reinvested, no provision for federal or state tax expense is recorded. When circumstances change and we determine that some or all of the undistributed earnings will be remitted in the foreseeable future, a corresponding expense is accrued in the current period. See Note 5 of the Notes to the Consolidated Financial Statements for additional information about income taxes.
Earnings Per Share	EARNINGS PER SHARE We utilize the two-class method to report our earnings per share ("EPS"). The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared and participation rights in undistributed earnings. Common Stock is entitled to cash dividends equal to at least 133.33% on a per share basis of the cash dividend paid on Class B Stock. In computing earnings per share, the Company has allocated dividends declared to Common and Class B shares based on amounts actually declared for each class of stock and 33.33% more of the undistributed earnings have been allocated to Common Stock than to the Class B shares on a per share basis. Common Stock is entitled to one vote per share and Class B Stock is entitled to ten votes per share. Common Stock have no conversion rights. Class B Stock is convertible on a share-by-share basis into Common Stock at any time and is subject to mandatory conversion under certain circumstances. Basic EPS is computed by dividing net earnings, reduced for any distributed and undistributed earnings allocated to unvested restricted shares, by the weighted-average number of shares outstanding during the period for each class of share. Diluted EPS, for each class of common stock, is computed by dividing net earnings by the weighted-average number of common shares and potential common shares outstanding during the period. Dilution for common stock takes into consideration the effect of both unvested restricted shares and convertible Class B shares, if the effect is dilutive. Dilution for Class B takes into consideration the effect of unvested restricted shares, if the effect is dilutive. Below is a reconciliation of the calculation of basic and diluted EPS. For the year ended July 31, 2023 (in thousands, except for per share data) Total Common Class B Net income $ 29,551 $ 22,712 $ 6,839 Distributed and undistributed earnings on restricted shares (1,518) (1,232) (286) Income available to stockholders $ 28,033 $ 21,480 $ 6,553 Net Income (Numerator) $ 21,480 $ 6,553 Weighted Average Shares Outstanding (Denominator) 4,825 1,959 Basic EPS $ 4.45 $ 3.35 Effect of dilution - Net Income (1) $ 6,553 $ — Net income assuming dilution (Numerator) $ 28,033 $ 6,553 Effect of dilution - Shares (1) 1,959 $ — Shares assuming dilution (Denominator) 6,784 $ 1,959 Diluted EPS $ 4.13 $ 3.35 (1) The impact of unvested restricted stock was anti-dilutive therefore not included in the calculation of diluted EPS
New Accounting Pronouncements	N EW A CCOUNTING P RONOUNCEMENTS 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.

OPERATING SEGMENTS Level 2 (Pol

OPERATING SEGMENTS Level 2 (Policy)	12 Months Ended
	Jul. 31, 2023
Accounting Policies [Abstract]
Segment Reporting	We have two reportable operating segments: (1) Retail and Wholesale Products Group and (2) Business to Business 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, the farm and fleet channel, drugstore chains, pet specialty retail outlets, dollar stores, retail grocery stores, distributors of industrial cleanup and automotive products, environmental service companies, sports field product users and marketers of consumer products. The Business to Business Products Group customers include: processors and refiners of edible oils, renewable diesel, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; and distributors of animal health and nutrition products.

FINANCIAL INSTRUMENTS Fair Valu

FINANCIAL INSTRUMENTS Fair Value (Policies)	12 Months Ended
	Jul. 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 one of three categories based on the lowest level of input that is significant to the fair value measurement. Categories in the 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.

STOCK-BASED COMPENSATION STOCK-

STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION (Policies)	12 Months Ended
	Jul. 31, 2023
Accounting Policies [Abstract]
Share-based Payment Arrangement [Policy Text Block]	S TOCK -B ASED C OMPENSATION We account for stock options and restricted stock issued under our long-term incentive plans in accordance with ASC 718, Compensation – Stock Compensation . The fair value of stock-based compensation is determined at the grant date. The related compensation expense is recognized over the appropriate vesting period. Forfeitures are recognized as they occur. See Note 7 of the Notes to the Consolidated Financial Statements for additional information.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Level 3 (Tables)	12 Months Ended
	Jul. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Inventories	The composition of inventories was as follows as of July 31 (in thousands): 2023 2022 Finished goods $ 21,943 $ 18,142 Packaging 8,007 9,515 Spare parts, net $ 5,981 $ 4,904 Other 6,681 7,905 Inventories $ 42,612 $ 40,466
Estimated Intangible Amortization Expense	Our estimated intangible amortization expense for the next five fiscal years is as follows (in thousands): 2024 $ 129 2025 $ 105 2026 $ 102 2027 $ 99 2028 $ 94
Acquired Finite-Lived Intangible Assets Weighted Average Amortization Period	The remaining weighted average amortization period of our intangibles subject to amortization is as follows (in years): Weighted Average Amortization Period Patents 11.0 Customer list 0.3 Total intangible assets subject to amortization 10.0
Property, Plant and Equipment Estimated Useful Lives	Years Buildings and leasehold improvements 3 - 40 Machinery and equipment Packaging 2 - 20 Processing 2 - 25 Mining and other 2 - 15 Office furniture and equipment 2 - 15 Vehicles 2 - 15
Schedule of Earnings Per Share, Basic and Diluted	For the year ended July 31, 2023 (in thousands, except for per share data) Total Common Class B Net income $ 29,551 $ 22,712 $ 6,839 Distributed and undistributed earnings on restricted shares (1,518) (1,232) (286) Income available to stockholders $ 28,033 $ 21,480 $ 6,553 Net Income (Numerator) $ 21,480 $ 6,553 Weighted Average Shares Outstanding (Denominator) 4,825 1,959 Basic EPS $ 4.45 $ 3.35 Effect of dilution - Net Income (1) $ 6,553 $ — Net income assuming dilution (Numerator) $ 28,033 $ 6,553 Effect of dilution - Shares (1) 1,959 $ — Shares assuming dilution (Denominator) 6,784 $ 1,959 Diluted EPS $ 4.13 $ 3.35 (1) The impact of unvested restricted stock was anti-dilutive therefore not included in the calculation of diluted EPS

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Jul. 31, 2023
OPERATING SEGMENTS [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 Year Ended July 31, Product 2023 2022 2023 2022 Cat Litter $ — $ — $ 226,335 $ 196,278 Industrial and Sports — — 44,291 38,932 Agricultural and Horticultural 40,275 30,419 — — Bleaching Clay and Fluids Purification 77,643 62,051 — — Animal Health and Nutrition 24,477 20,909 — — Net Sales $ 142,395 $ 113,379 $ 270,626 $ 235,210
Segment Reporting Information	Net sales and operating income for each segment are provided below. The accounting policies of the segments are the same as those described in the Note 1 of the Notes to the Consolidated Financial Statements. We do not rely on any operating segment asset allocations and we do not consider them meaningful because of the shared nature of our production facilities; however, we have estimated the segment asset allocations below for those assets for which we can reasonably determine. The unallocated asset category is the remainder of our total assets. We have refined the basis of allocation for certain of our assets as of April 30, 2023, and we have restated the allocation of assets as of July 31, 2022 presented below to enhance comparability. The asset allocation is estimated and is not a measure used by our chief operating decision maker about allocating resources to the operating segments or in assessing their performance. The corporate expenses line in the table below represents 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 annual incentive plan bonus accrual. As of July 31, Assets 2023 2022 (in thousands) Business to Business Products $ 85,798 $ 77,840 Retail and Wholesale Products 134,974 125,293 Unallocated assets 65,463 46,478 Total Assets $ 286,235 $ 249,611 Year Ended July 31, Net Sales Income 2023 2022 2023 2022 (in thousands) Business to Business Products $ 142,395 $ 113,379 $ 36,573 $ 24,344 Retail and Wholesale Products 270,626 235,210 36,119 6,252 Net Sales $ 413,021 $ 348,589 Corporate Expenses (31,652) (25,775) Income from Operations 41,040 4,821 Total Other Income, Net (6,362) 888 Income Before Income Taxes 34,678 5,709 Income Tax Expense (5,195) (97) Net Income $ 29,483 $ 5,612 Net Loss Attributable to Noncontrolling Interest $ (68) $ (62) Net Income Attributable to Oil-Dri $ 29,551 $ 5,674
Financial Information by Geographic Region	The following is a summary by fiscal year of financial information by geographic region (in thousands): 2023 2022 Sales to unaffiliated customers by: Domestic operations $ 390,963 $ 328,696 Foreign subsidiaries $ 22,058 $ 19,893 Sales or transfers between geographic areas: Domestic operations $ 6,436 $ 6,418 Foreign subsidiaries $ 69 $ 161 Income (Loss) before income taxes: Domestic operations $ 33,686 $ 6,552 Foreign subsidiaries $ 992 $ (843) Net Income (Loss) attributable to Oil-Dri: Domestic operations $ 28,494 $ 6,430 Foreign subsidiaries $ 1,057 $ (756) Identifiable assets: Domestic operations $ 271,627 $ 236,622 Foreign subsidiaries $ 14,608 $ 12,989
Largest Customer Information	Sales to Walmart, our largest customer, are included in our Retail and Wholesale Products Group. The percentage of consolidated net sales and net accounts receivable attributed to Walmart are shown in the table below: 2023 2022 Net sales for the years ended July 31 19% 16% Net accounts receivable as of July 31 26% 21%

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Jul. 31, 2023
Notes Payable [Abstract]
Schedule of Notes Payable	The composition of notes payable is as follows as of July 31 (in thousands): 2023 2022 Amended and Restated Note Purchase and Private Shelf Agreement. Annual principal installments on May 15: $1,000 in each fiscal year 2021 through 2030. Interest is payable semi-annually at an annual rate of 3.95% [Series B] $ 7,000 $ 8,000 Amended and Restated Note Purchase and Private Shelf Agreement. Annual principal installments on Dec 15: $5,000 in each fiscal year 2028 through 2032. Interest is payable semi-annually at an annual rate of 3.25% [Series C] 25,000 25,000 Less current maturities of notes payable (1,000) (1,000) Less unamortized debt issuance costs $ (173) $ (202) Noncurrent notes payable $ 30,827 $ 31,798
Schedule of Maturities	The following is a schedule by fiscal year of future principal maturities of notes payable as of July 31, 2023 (in thousands): 2024 $ 1,000 2025 1,000 2026 1,000 2027 1,000 2028 6,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2023
INCOME TAXES [Abstract]
Schedule of Components of Income Tax Expense	The provision for income tax expense by fiscal year consists of the following (in thousands): 2023 2022 Current Federal $ 7,503 $ 1,681 Foreign 4 16 State 2,119 696 Current Income Tax Total 9,626 2,393 Deferred Federal (3,864) (1,868) Foreign — (41) State (567) (387) Deferred Income Tax Total (4,431) (2,296) Total Income Tax Expense $ 5,195 $ 97
Schedule of Effective Income Tax Rate Reconciliation	Principal reasons for variations between the statutory federal rate and the effective rates by fiscal year were as follows: 2023 2022 U.S. federal income tax rate 21.0 % 21.0 % Depletion deductions allowed for mining (7.7) (20.1) State income tax expense, net of federal tax expense 2.9 4.5 Nondeductible officer compensation 1.5 2.4 Tax credits (0.3) (3.1) Valuation allowance - foreign (0.2) 6.9 Foreign tax differential (0.6) (5.3) Prior year income taxes (1.3) (9.5) Goodwill impairment — 3.1 Other (0.3) 1.8 Effective income tax rate 15.0 % 1.7 %
Schedule of Deferred Tax Assets and Liabilities	The Consolidated Balance Sheets included the following tax effects of cumulative temporary differences as of July 31 (in thousands): ` 2023 2022 Assets Liabilities Assets Liabilities Depreciation $ — $ 4,338 $ — $ 4,356 Deferred compensation 1,246 — 1,499 — Capitalized R&D 269 — — — Postretirement benefits 478 — 209 — Goodwill — 24 62 — Lease right of use assets — 2,412 — 2,700 Lease liabilities 2,747 — 3,040 — Allowance for doubtful accounts 135 — 95 — Deferred marketing expenses — 11 — 22 Other assets 608 — 1 — Other liabilities — 301 — 23 Accrued expenses 5,303 — 2,362 — Tax credits 301 — 223 — Amortization 935 — 1,046 — Inventories 203 — 366 — Depletion — 158 — 154 Stock-based compensation 1,634 — 1,522 — Reclamation 627 — 549 — Other liabilities - foreign — 41 — 42 Other assets – foreign 1,698 — 1,761 — Valuation allowance (1,698) — (1,761) — Total deferred taxes $ 14,486 $ 7,285 $ 10,974 $ 7,297

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Jul. 31, 2023
Accumulated Other Comprehensive Income [Abstract]
Comprehensive (Loss) Income	The following table summarizes the changes in accumulated other comprehensive income by component (in thousands): Pension and Postretirement Health Benefits Cumulative Translation Adjustment Total Accumulated Other Comprehensive (Loss) Income Balance as of July 31, 2021 $ (4,428) $ 311 $ (4,117) Other comprehensive income (loss) before reclassifications, net of tax 2,081 a) (252) 1,829 Amounts reclassified from accumulated other comprehensive income, net of tax 105 — 105 Net current-period other comprehensive income (loss), net of tax 2,186 (252) 1,934 Balance as of July 31, 2022 $ (2,242) $ 59 $ (2,183) Other comprehensive income (loss) before reclassifications, net of tax 1,736 a) (323) 1,413 Amounts reclassified from accumulated other comprehensive income, net of tax (36) — (36) Curtailment/Settlement on Pension Plan 1,554 b) — 1,554 Net current-period other comprehensive income (loss), net of tax 3,254 (323) 2,931 Balance as of July 31, 2023 $ 1,012 $ (264) $ 748 a) Amounts are net of taxes of $0.4 million and $0.7 million in fiscal years 2023 and 2022, respectively, and are included in Other Comprehensive Loss. b) Amount is net of taxes of $0.5 million in fiscal year 2023. Amount is included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 8 of the Notes to the Consolidated Financial Statements for further information about pension and postretirement health benefits.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Jul. 31, 2023
STOCK-BASED COMPENSATION [Abstract]
Schedule of summary of restricted stock	A summary of restricted stock transactions under the plans is shown below. Number of Weighted Weighted Unamortized Non-vested restricted stock outstanding at July 31, 2021 370 $ 33.96 3.3 $ 7,073 Granted 126 $ 33.48 Vested (71) $ 34.64 Forfeited (43) $ 34.29 Non-vested restricted stock outstanding at July 31, 2022 382 $ 33.63 3.0 $ 7,064 Granted 63 $ 29.88 Vested (73) $ 35.06 Forfeited (24) $ 29.22 Non-vested restricted stock outstanding at July 31, 2023 348 $ 32.95 2.3 $ 5,129

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	12 Months Ended
	Jul. 31, 2023
EMPLOYEE BENEFIT PLANS [Abstract]
Schedule of Obligations and Funded Status	The following tables provide a reconciliation of changes in the plans’ benefit obligations, asset fair values and funded status by fiscal year (in thousands): Pension Benefits Postretirement Health Benefits 2023 2022 2023 2022 Change in benefit obligation : Benefit obligation, beginning of year $ 33,741 $ 42,267 $ 2,119 $ 3,125 Service cost — — 84 123 Interest cost 1,009 1,068 73 58 Actuarial gain (3,054) (8,386) (429) (1,155) Benefits paid (941) (1,208) 6 (32) Settlements (30,755) — — — Benefit obligation, end of year — 33,741 1,853 2,119 Change in plan assets: Fair value of plan assets, beginning of year 34,989 40,388 — — Actual return on plan assets 502 (4,191) — — Employer contribution — — (6) 32 Benefits paid (941) (1,208) 6 (32) Settlements (30,755) — — — Surplus Transfer (3,647) — — — Fair value of plan assets, end of year 148 34,989 — — Funded status, recorded in Consolidated Balance Sheets $ 148 $ 1,248 $ (1,853) $ (2,119)
Schedule of Amounts Recognized in Balance Sheet	The following table shows amounts recognized in the Consolidated Balance Sheets as of July 31 (in thousands): Pension Benefits Postretirement Health 2023 2022 2023 2022 Deferred income taxes $ — $ (335) $ 478 $ 544 Other current assets $ 148 $ — $ — $ — Other current liabilities $ — $ — $ (100) $ (73) Other noncurrent liabilities $ — $ 1,248 $ (1,753) $ (2,046) Accumulated other comprehensive loss – net of tax: Net actuarial loss (gain) $ — $ 2,998 $ (1,012) $ (756)
Schedule of Net Benefit Costs	The following table shows the components of the net periodic pension and postretirement health benefit costs by fiscal year (in thousands): Pension Cost Postretirement Health Benefit Cost 2023 2022 2023 2022 Service cost $ — $ — $ 84 $ 123 Interest cost 1,009 1,068 73 58 Expected return on plan assets (1,673) (2,586) — — Amortization of: Prior service income — — (6) (6) Other actuarial loss 42 145 (83) — Settlement cost 5,544 — — — Net periodic benefit (income) cost $ 4,922 $ (1,373) $ 68 $ 175 Service cost is recorded in Other, net within Other Income (Expense) in the Consolidated Statements of Operations. As the pension plan was frozen, there was no service cost recorded in fiscal years 2022 or 2023.
Schedule of Amounts Recognized in Other Comprehensive Income	The following table shows amounts, net of tax, that are recognized in other comprehensive income by fiscal year (in thousands): Pension Benefits Postretirement Health Benefits 2023 2022 2023 2022 Net actuarial gain $ (1,412) $ (1,203) $ (324) $ (878) Amortization of: Prior service income — — 5 5 Amortization of actuarial loss (32) (110) 63 — Curtailment/Settlement $ (1,554) $ — $ — $ — Total recognized in other comprehensive income $ (2,998) $ (1,313) $ (256) $ (873)
Schedule of Expected Benefit Payments	The following table shows the estimated future benefit payments by fiscal year (in thousands): Postretirement 2024 $ 100 2025 $ 132 2026 $ 129 2027 $ 133 2028 $ 136 2029-2033 $ 867
Schedule of Assumptions Used	The assumptions used in the previous calculations by fiscal year were as follows: Pension Benefits Postretirement Health Benefits 2023 2022 2023 2022 Discount rate for net periodic benefit costs —% 2.57% 3.82% 2.10% Discount rate for year-end obligations —% 4.05% 4.90% 3.82% Rate of increase in compensation levels for net periodic benefit costs —% —% —% —% Rate of increase in compensation levels for year-end obligations —% —% —% —% Long-term expected rate of return on assets —% 6.50% —% —%
Schedule of Allocation of Plan Assets	The actual allocation percentages of plan assets as of July 31, 2023: Asset Allocation 2023 2022 Cash and accrued income 100% —% Fixed income —% 36% Equity —% 64% The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets carried at fair value (in thousands): Fair Value At July 31, 2022 Total Quoted Significant Asset Class Cash and cash equivalents (a) $ 51 $ 51 $ — Equity securities (b) : U.S. companies 15,389 10,387 5,002 International companies 521 521 — Equity securities - international mutual funds: Developed market (c) 4,025 923 3,102 Emerging markets (d) 1,517 1,149 368 Commodities (e) 1,137 1,137 — Fixed Income: U.S. Treasuries 3,019 904 2,115 Debt securities(f) 1,656 — 1,656 Government sponsored entities (g) 1,256 — 1,256 Multi-strategy bond fund (h) 5,079 — 5,079 Money market fund (i) 389 — 389 Other (j) 950 — 950 Total $ 34,989 $ 15,072 $ 19,917 (a) Cash and cash equivalents consists of highly liquid investments which are traded in active markets. (b) This class represents equities traded on regulated exchanges, as well as funds that invest in a portfolio of such stocks. (c) These mutual funds seek long-term capital growth by investing no less than 80% of their assets in stocks of non- U.S. companies that are primarily in developed markets, but also may invest in emerging and less developed markets. (d) These mutual funds seek to track the performance of a benchmark index that measures the investment return of stock issued by companies located in emerging market countries. (e) These investments seek attractive total return by investing primarily in a diversified portfolio of commodity futures contracts and fixed income investments. (f) This class includes bonds and loans of U.S. and non-U.S. corporate issuers from diverse industries and bonds of domestic and foreign municipalities. (g) This class represents a beneficial ownership interest in a pool of single-family residential mortgage loans. These investments are generally not backed by the full faith and credit of the United States government, except for securities valued at $114,000 in our portfolio as of July 31, 2022. (h) This class invests at least 80% of its net assets in bonds and other fixed income instruments issued by governmental or private-sector entities. More than 30% of its net assets are invested in asset-backed and mortgage-backed securities. The fund may invest up to 20% of its net assets in securities below investment grade. (i) These money market mutual funds seek to provide current income consistent with liquidity and stability of principal by investing in a diversified portfolio of high quality, short-term, dollar-denominated debt securities. These funds may include securities issued or guaranteed as to principal and interest by the U.S. government or its agencies, short-term securities issued by domestic or foreign banks, domestic and dollar-denominated foreign commercial papers, and other short-term corporate obligations and obligations issued or guaranteed by one or more foreign governments. (j) This class includes funds that use a number of other strategies, including arbitrage, to obtain long-term positive returns. The portfolio of instruments may include equities, debt securities, real estate properties, warrants, options, swaps, future contracts, forwards or other types of derivative instruments.

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Jul. 31, 2023
ACCRUED EXPENSES [Abstract]
Accrued Expenses	Accrued expenses is as follows (in thousands): July 31, July 31, Salaries, Wages, Commissions and Employee Benefits 19,054 $ 13,439 Freight 3,078 4,022 Georgia Landfill Modification Reserve 2,469 — Trade promotions and advertising 2,292 1,180 Real Estate Tax 1,038 1,006 Other 8,937 10,438 $ 36,868 $ 30,085

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jul. 31, 2023
Leases [Abstract]
Operating lease costs	We have no material finance leases, and variable costs for operating leases are immaterial. Operating lease costs are included in Cost of Goods Sold 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 Twelve Months Ended July 31, 2023 2022 Operating Lease Cost Operating lease cost $ 2,640 $ 2,776 Short-term operating lease cost 2 553 Supplemental cash flow information related to leases was as follows (in thousands): For the Twelve Months Ended July 31, 2023 2022 Other Information Cash paid for amounts included in the measurement of lease liabilities: 2,229 2,490 Right-of-use assets obtained in exchange for new operating lease liabilities 983 4,377 Operating lease ROU assets and operating lease liabilities are separately presented on the unaudited Consolidated Balance Sheet, excluding leases with an initial term of twelve months or less. Other supplemental balance sheet information related to leases was as follows: For the Twelve Months Ended July 31, 2023 2022 Weighted-average remaining lease term - operating leases 7.7 years 7.7 years Weighted-average discount rate - operating leases 4.03% 3.91%
Scheduled minimum future lease payments	The following table summarizes scheduled minimum future lease payments due within twelve months for operating leases with terms longer than one year for which cash flows are fixed and determinable as of July 31, 2023 (in thousands): 2024 $ 2,257 2025 2,168 2026 1,848 2027 1,433 2028 884 Thereafter 3,827 Total 12,417 Less: imputed interest (1,735) Net lease obligation $ 10,682

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Inventories (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Finished goods	$ 21,943	$ 18,142
Packaging	8,007	9,515
Spare parts, net	5,981	4,904
Other	6,681	7,905
Inventories	$ 42,612	$ 40,466

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Intangible Assets Amortization Expense (Details) $ in Thousands	Jul. 31, 2023 USD ($)
Estimated Intangible Amortization Expense
2024	$ 129
2025	105
2026	102
2027	99
2028	$ 94

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Intangible Assets Weighted Average Amortization Period (Details)	12 Months Ended
	Jul. 31, 2023
Finite-Lived Intangible Assets
Finite-lived Intangible Assets, Weighted Average Amortization Period	10 years
Trademarks and patents
Finite-Lived Intangible Assets
Finite-lived Intangible Assets, Weighted Average Amortization Period	11 years
Customer list
Finite-Lived Intangible Assets
Finite-lived Intangible Assets, Weighted Average Amortization Period	3 months 18 days

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Property, Plant and Equipment (Details)	12 Months Ended
	Jul. 31, 2023
Minimum | Buildings and leasehold improvements
Property, Plant and Equipment
Estimated useful life	3 years
Minimum | Machinery and Equipment - Packaging
Property, Plant and Equipment
Estimated useful life	2 years
Minimum | Machinery and Equipment - Processing
Property, Plant and Equipment
Estimated useful life	2 years
Minimum | Machinery and Equipment - Mining and Other
Property, Plant and Equipment
Estimated useful life	2 years
Minimum | Office furniture and equipment
Property, Plant and Equipment
Estimated useful life	2 years
Minimum | Vehicles
Property, Plant and Equipment
Estimated useful life	2 years
Maximum | Buildings and leasehold improvements
Property, Plant and Equipment
Estimated useful life	40 years
Maximum | Machinery and Equipment - Packaging
Property, Plant and Equipment
Estimated useful life	20 years
Maximum | Machinery and Equipment - Processing
Property, Plant and Equipment
Estimated useful life	25 years
Maximum | Machinery and Equipment - Mining and Other
Property, Plant and Equipment
Estimated useful life	15 years
Maximum | Office furniture and equipment
Property, Plant and Equipment
Estimated useful life	15 years
Maximum | Vehicles
Property, Plant and Equipment
Estimated useful life	15 years

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition (Details) - Payments in Advance - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Deferred Revenue Arrangement
Liability for Payments in Advance	$ 0	$ 0.5
Payments in Advance, Revenue Recognized	$ 0.5

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Earnings Per Share(Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income attributable to Oil-Dri	$ 29,551	$ 5,674
Distributed and undistributed earnings on restricted shares	(1,518)
Income available to stockholders	28,033
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income attributable to Oil-Dri	22,712
Distributed and undistributed earnings on restricted shares	(1,232)
Income available to stockholders	$ 21,480
Earnings Per Share, Basic (in shares)	4,825	4,987
Earnings Per Share, Basic	$ 4.45	$ 0.83
Effect of dilution - Net Income	$ 6,553
Net income assuming dilution	$ 28,033
Effect of dilution - Shares	1,959
Shares assuming dilution	6,784	5,099
Earnings per Share, Diluted	$ 4.13	$ 0.81
Class B
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income attributable to Oil-Dri	$ 6,839
Distributed and undistributed earnings on restricted shares	(286)
Income available to stockholders	$ 6,553
Earnings Per Share, Basic (in shares)	1,959	1,934
Earnings Per Share, Basic	$ 3.35	$ 0.63
Effect of dilution - Net Income	$ 0
Net income assuming dilution	$ 6,553
Effect of dilution - Shares	0
Shares assuming dilution	1,959	1,962
Earnings per Share, Diluted	$ 3.35	$ 0.62

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Narrative (Details) - USD ($)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Maximum maturity of cash equivalents	3 months	3 months
Inventory obsolescence reserves	$ 800,000	$ 800,000
Spare Parts Reserve, Inventory	2,900,000	2,700,000
Amortization of intangibles	300,000	500,000
Indefinite-lived trademarks	400,000	400,000
Goodwill impairment	0	5,644,000
Stripping costs	4,000,000	2,700,000
Pre-production overburden removal costs	100,000	1,300,000
Pre-production development costs	4,300,000
Land	13,600,000	13,600,000
Mineral rights	2,200,000	2,200,000
Prepaid royalties	2,000,000	2,000,000
Estimated net reclamation asset	2,200,000	1,800,000
Estimated reclamation liability	4,500,000	3,800,000
Depreciation	15,300,000	13,000,000
Interest Costs Capitalized	0	0
Impairment of property, plant and equipment	900,000	0
Capital Parts Reserve	2,000,000	1,800,000
Georgia Landfill Modification Reserve	2,469,000	0
Advertising expense	7,400,000	4,000,000
Shipping and Handling Costs	57,400,000	48,500,000
Research and development costs	$ 1,200,000	2,100,000
Common Stock
Dividend Distribution Percentage	133.33%
Dividend Distribution Percentage Increase	33.33%
Common Stock, Voting Rights	one
Class B
Common Stock, Voting Rights	ten
Retail and Wholesale Products
Goodwill impairment		5,600,000
Business to Business Products
Goodwill impairment		$ 0
Minimum
Amortization period of intangible assets (years)	10 years
Maximum
Amortization period of intangible assets (years)	20 years

OPERATING SEGMENTS Disaggregati

OPERATING SEGMENTS Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Revenue by Principal Product
Net Sales	$ 413,021	$ 348,589
Business to Business Products
Revenue by Principal Product
Net Sales	142,395	113,379
Retail and Wholesale Products
Revenue by Principal Product
Net Sales	270,626	235,210
Cat Litter | Business to Business Products
Revenue by Principal Product
Net Sales	0	0
Cat Litter | Retail and Wholesale Products
Revenue by Principal Product
Net Sales	226,335	196,278
Industrial and Sports | Business to Business Products
Revenue by Principal Product
Net Sales	0	0
Industrial and Sports | Retail and Wholesale Products
Revenue by Principal Product
Net Sales	44,291	38,932
Agricultural and Horticultural | Business to Business Products
Revenue by Principal Product
Net Sales	40,275	30,419
Agricultural and Horticultural | Retail and Wholesale Products
Revenue by Principal Product
Net Sales	0	0
Bleaching Clay and Fluids Purification | Business to Business Products
Revenue by Principal Product
Net Sales	77,643	62,051
Bleaching Clay and Fluids Purification | Retail and Wholesale Products
Revenue by Principal Product
Net Sales	0	0
Animal Health and Nutrition | Business to Business Products
Revenue by Principal Product
Net Sales	24,477	20,909
Animal Health and Nutrition | Retail and Wholesale Products
Revenue by Principal Product
Net Sales	$ 0	$ 0

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Segment Reporting Information
Assets	$ 286,235	$ 249,611
Net Sales	413,021	348,589
Corporate Expenses	(31,652)	(25,775)
Income from Operations	41,040	4,821
Total Other (Expense) Income, Net	(6,362)	888
Income Before Income Taxes	34,678	5,709
Income Tax Expense	(5,195)	(97)
Net Income	29,483	5,612
Net Loss Attributable to Noncontrolling Interest	(68)	(62)
Net Income Attributable to Oil-Dri	29,551	5,674
Business to Business Products
Segment Reporting Information
Assets	85,798	77,840
Segment Net Sales	142,395	113,379
Net Sales	142,395	113,379
Segment Income	36,573	24,344
Retail and Wholesale Products
Segment Reporting Information
Assets	134,974	125,293
Segment Net Sales	270,626	235,210
Net Sales	270,626	235,210
Segment Income	36,119	6,252
Unallocated assets
Segment Reporting Information
Assets	$ 65,463	$ 46,478

OPERATING SEGMENTS Financial In

OPERATING SEGMENTS Financial Information by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Financial Information by Geographic Region
Sales to unaffiliated customers	$ 413,021	$ 348,589
Net Income attributable to Oil-Dri	29,551	5,674
Identifiable assets	286,235	249,611
Domestic Operations
Financial Information by Geographic Region
Sales to unaffiliated customers	390,963	328,696
Sales or transfers between geographic areas	6,436	6,418
Income (Loss) before income taxes	33,686	6,552
Net Income attributable to Oil-Dri	28,494	6,430
Identifiable assets	271,627	236,622
Foreign subsidiaries
Financial Information by Geographic Region
Sales to unaffiliated customers	22,058	19,893
Sales or transfers between geographic areas	69	161
Income (Loss) before income taxes	992	(843)
Net Income attributable to Oil-Dri	1,057	(756)
Identifiable assets	$ 14,608	$ 12,989

OPERATING SEGMENTS Largest Cust

OPERATING SEGMENTS Largest Customer (Details) - Customer, Walmart - Retail and Wholesale Products	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Net sales for the years ended July 31
Revenue, Major customer
Concentration risk, percentage	19%	16%
Net accounts receivable as of July 31
Revenue, Major customer
Concentration risk, percentage	26%	21%

OPERATING SEGMENTS Narrative (D

OPERATING SEGMENTS Narrative (Details) $ in Millions	12 Months Ended
	Jul. 31, 2023 USD ($) segment	Jul. 31, 2022 USD ($)
Segment Reporting Information
Number of Reportable Segments | segment	2
Foreign subsidiaries
Segment Reporting Information
Cash held at foreign banks | $	$ 5.2	$ 3.3

DEBT Notes Payable (Details)

DEBT Notes Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Debt Instrument
Current maturities of notes payable	$ (1,000)	$ (1,000)
Less unamortized debt issuance costs	(173)	(202)
Noncurrent Notes payable	30,827	31,798
Series B Senior Notes
Debt Instrument
Notes Payable	7,000	8,000
Annual Principal Installments	$ 1,000
Annual rate	3.95%
Series C Senior Notes
Debt Instrument
Notes Payable	$ 25,000	$ 25,000
Annual Principal Installments	$ 5,000
Annual rate	3.25%

DEBT Maturities of Notes Payabl

DEBT Maturities of Notes Payable (Details) - Series B Senior Notes $ in Thousands	Jul. 31, 2023 USD ($)
Notes Payable Maturities
2024	$ 1,000
2025	1,000
2026	1,000
2027	1,000
2028	$ 6,000

DEBT Debt (Narrative) (Details)

DEBT Debt (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Debt Instrument
Shelf Notes	$ 75,000
Unsecured Debt	75,000	$ 50,000
Letters of Credit Outstanding, Amount	1,000	1,000
Line of Credit [Member]
Debt Instrument
Maximum borrowing capacity	45,000
Maximum borrowing capacity for letters of credit	$ 10,000
Expiration date	Aug. 30, 2027
Line of credit amount outstanding	$ 0	0
Series B Senior Notes
Debt Instrument
Starting payments	May 15, 2021
Face amount	$ 10,000
Annual rate	3.95%
Ending payments	May 15, 2030
Notes Payable	$ 7,000	8,000
Series C Senior Notes
Debt Instrument
Starting payments	Dec. 16, 2021
Face amount	$ 25,000
Annual rate	3.25%
Ending payments	Dec. 16, 2031
Notes Payable	$ 25,000	$ 25,000
Prime Rate | Line of Credit [Member]
Debt Instrument
Variable interest rate	8.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Line of Credit [Member]
Debt Instrument
Variable interest rate	5.37%

FINANCIAL INSTRUMENTS Narrative

FINANCIAL INSTRUMENTS Narrative (Details) - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash Equivalents, Fair Value	$ 15,400,000	$ 0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	$ 29,700,000	$ 31,800,000

INCOME TAXES Income Tax Provisi

INCOME TAXES Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Current - Federal	$ 7,503	$ 1,681
Current - Foreign	4	16
Current - State	2,119	696
Current Income Tax Total	9,626	2,393
Deferred - Federal	(3,864)	(1,868)
Deferred - Foreign	0	(41)
Deferred - State	(567)	(387)
Deferred Income Tax Total	(4,431)	(2,296)
Total Income Tax Expense	$ 5,195	$ 97

INCOME TAXES Income Tax Effecti

INCOME TAXES Income Tax Effective Rate Reconciliation (Details)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
U.S. federal income tax rate	21%	21%
Depletion deductions allowed for mining	(7.70%)	(20.10%)
State income tax expense, net of federal tax expense	2.90%	4.50%
Nondeductible Officer Compensation	1.50%	2.40%
Tax Credits	(0.30%)	(3.10%)
Valuation Allowance - Foreign	(0.20%)	6.90%
Foreign Tax Differential	(0.60%)	(5.30%)
Prior year income taxes	(1.30%)	(9.50%)
Goodwill impairment	0%	3.10%
Other	(0.30%)	1.80%
Effective income tax rate	15%	1.70%

INCOME TAXES Components of Defe

INCOME TAXES Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Deferred Tax Asset
Depreciation	$ 0	$ 0
Deferred compensation	1,246	1,499
Capitalized R&D	269	0
Postretirement benefits	478	209
Goodwill	0	62
Lease right of use assets	0	0
Lease liabilities	2,747	3,040
Allowance for doubtful accounts	135	95
Deferred marketing expenses	0	0
Other assets	608	1
Other liabilities	0	0
Accrued expenses	5,303	2,362
Tax credits	301	223
Amortization	935	1,046
Inventories	203	366
Depletion	0	0
Stock-based compensation	1,634	1,522
Reclamation	627	549
Other liabilities - foreign	0	0
Other assets - foreign	1,698	1,761
Valuation allowance	(1,698)	(1,761)
Total deferred tax assets	14,486	10,974
Deferred Tax Liability
Depreciation	4,338	4,356
Deferred compensation	0	0
Capitalized R&D	0	0
Postretirement benefits	0	0
Goodwill	(24)	0
Lease right of use assets	2,412	2,700
Lease liabilities	0	0
Allowance for doubtful accounts	0	0
Deferred marketing expenses	11	22
Other assets	0	0
Other liabilities	301	23
Accrued expenses	0	0
Tax credits	0	0
Amortization	0	0
Inventories	0	0
Depletion	158	154
Stock-based compensation	0	0
Reclamation	0	0
Other liabilities - foreign	41	42
Other assets - foreign	0	0
Valuation allowance	0	0
Total deferred tax liabilities	$ 7,285	$ 7,297

INCOME TAXES Narrative (Details

INCOME TAXES Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Effective Income Tax Rate Reconciliation, Percent	15%	1.70%
Operating Loss Carryforwards	$ 3,400
Unrecognized tax benefits, liability	0	$ 0
Unrecognized tax benefits, penalties and interest expense	0	0
Unrecognized tax benefits, penalties and interest accrued	$ 0	0
Minimum
Foreign and U.S. state tax statute of limitations (years)	3 years
Maximum
Foreign and U.S. state tax statute of limitations (years)	5 years
Deferred Tax Asset
Deferred Tax Assets, Valuation Allowance	$ 1,698	$ 1,761

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive (Loss) Income, beginning balance	$ (2,183)
Other Comprehensive Income	2,931	$ 1,934
Accumulated Other Comprehensive (Loss) Income, ending balance	748	(2,183)
Pension and Postretirement Health Benefits
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive (Loss) Income, beginning balance	(2,242)	(4,428)
Other comprehensive income (loss), before reclassifications, net of tax	1,736	2,081
Amounts reclassified from accumulated other comprehensive income, net of tax	(36)	105
Curtailment/Settlement on Pension Plan	1,554
Other Comprehensive Income	3,254	2,186
Accumulated Other Comprehensive (Loss) Income, ending balance	1,012	(2,242)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive (Loss) Income, beginning balance	59	311
Other comprehensive income (loss), before reclassifications, net of tax	(323)	(252)
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0
Curtailment/Settlement on Pension Plan	0
Other Comprehensive Income	(323)	(252)
Accumulated Other Comprehensive (Loss) Income, ending balance	(264)	59
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive (Loss) Income, beginning balance	(2,183)	(4,117)
Other comprehensive income (loss), before reclassifications, net of tax	1,413	1,829
Amounts reclassified from accumulated other comprehensive income, net of tax	(36)	105
Curtailment/Settlement on Pension Plan	1,554
Other Comprehensive Income	2,931	1,934
Accumulated Other Comprehensive (Loss) Income, ending balance	$ 748	$ (2,183)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Narrative (Details) - Pension and Postretirement Health Benefits - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Stockholders' Equity
Tax on Other comprehensive income, Pension and postretirement benefit Plans before reclassifications	$ 0.4	$ 0.7
Tax on amount reclassified from accumulated other comprehensive income, Pension and postretirement health benefits for settlement or curtailment Gain (Loss), Tax	$ 0.5

STOCK-BASED COMPENSATION (Summa

STOCK-BASED COMPENSATION (Summary of Restricted Stock Activity) (Details) - Restricted Stock - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Summary of Restricted Stock Activity
Nonvested restricted stock outstanding, Number	348	382	370
Nonvested restricted stock outstanding, Weighted Average Grant Date Fair Value	$ 32.95	$ 33.63	$ 33.96
Nonvested restricted stock outstanding, Weighted Average Remaining Contractual Term (Years)	2 years 3 months 18 days	3 years	3 years 3 months 18 days
Nonvested retricted stock outstanding, Unamortized Expense	$ 5,129	$ 7,064	$ 7,073
Granted, Number	63	126
Granted, Weighted Average Grant Date Fair Value	$ 29.88	$ 33.48
Vested, Number	(73)	(71)
Vested, Weighted Average Grant Date Fair Value	$ 35.06	$ 34.64
Forfeitures, Number	(24)	(43)
Forfeitures, Weighted Average Grant Date Fair Value	$ 29.22	$ 34.29

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Restricted Stock
Share-based Compensation Award Disclosure
Fair value of shares vested	$ 2.6	$ 2.5
Share-based compensation expense	2.4	2.1
Tax benefit from compensation expense	$ 0.8	$ 0.7
2006 Plan
Share-based Compensation Award Disclosure
Number of shares authorized	1,219,500
Number of shares available for grant	241,540
2006 Plan - Restricted Stock | Minimum
Share-based Compensation Award Disclosure
Award vesting period (years)	2 years
2006 Plan - Restricted Stock | Maximum
Share-based Compensation Award Disclosure
Award vesting period (years)	5 years

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS Change in Benefit Obligation and Plan Assets, Funded Status (Details) - USD ($)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Pension Benefits
Change in benefit obligation:
Benefit obligation, beginning of year	$ 33,741,000	$ 42,267,000
Service cost	0	0
Interest cost	1,009,000	1,068,000
Actuarial gain	(3,054,000)	(8,386,000)
Benefits paid	941,000	1,208,000
Settlements	(30,755,000)	0
Benefit obligation, end of year	0	33,741,000
Change in plan assets:
Fair value of plan assets, beginning of year	34,989,000	40,388,000
Actual return on plan assets	502,000	(4,191,000)
Employer contribution	0	0
Benefits paid	941,000	1,208,000
Settlements	(30,755,000)	0
Surplus Transfer	(3,647,000)	0
Fair value of plan assets, end of year	148,000	34,989,000
Funded status, recorded in Consolidated Balance Sheets	148,000	1,248,000
Postretirement Health Benefits
Change in benefit obligation:
Benefit obligation, beginning of year	2,119,000	3,125,000
Service cost	84,000	123,000
Interest cost	73,000	58,000
Actuarial gain	(429,000)	(1,155,000)
Benefits paid	6,000	32,000
Settlements	0	0
Benefit obligation, end of year	1,853,000	2,119,000
Change in plan assets:
Fair value of plan assets, beginning of year	0	0
Actual return on plan assets	0	0
Employer contribution	(6,000)	(32,000)
Benefits paid	6,000	32,000
Settlements	0	0
Surplus Transfer	0	0
Fair value of plan assets, end of year	0	0
Funded status, recorded in Consolidated Balance Sheets	$ (1,853,000)	$ (2,119,000)

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFITS Amounts Recognized in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Defined Benefit Plans and Postretirement Health Benefits
Other noncurrent liabilities	$ (1,753)	$ (798)
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Deferred income taxes	0	(335)
Other current assets	148	0
Other current liabilities	0	0
Other noncurrent liabilities	0	1,248
Accumulated other comprehensive income - net of tax, Net actuarial loss (gain)	0	2,998
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Deferred income taxes	478	544
Other current assets	0	0
Other current liabilities	(100)	(73)
Other noncurrent liabilities	(1,753)	(2,046)
Accumulated other comprehensive income - net of tax, Net actuarial loss (gain)	$ (1,012)	$ (756)

PENSION AND OTHER POSTRETIREM_5

PENSION AND OTHER POSTRETIREMENT BENEFITS Components of net periodic benefit cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Service cost	$ 0	$ 0
Interest cost	1,009	1,068
Expected return on plan assets	(1,673)	(2,586)
Amortization of: Prior service income	0	0
Amortization of: Other actuarial loss	42	145
Settlement cost	5,544	0
Net periodic benefit (income) cost	4,922	(1,373)
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Service cost	84	123
Interest cost	73	58
Expected return on plan assets	0	0
Amortization of: Prior service income	(6)	(6)
Amortization of: Other actuarial loss	(83)	0
Settlement cost	0	0
Net periodic benefit (income) cost	$ 68	$ 175

PENSION AND OTHER POSTRETIREM_6

PENSION AND OTHER POSTRETIREMENT BENEFITS Amounts recognized in other comprehensive income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Defined Benefit Plans and Postretirement Health Benefits
Total recognized in other comprehensive income	$ (3,254)	$ (2,186)
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Net actuarial gain	(1,412)	(1,203)
Amortization of: Prior service income	0	0
Amortization of actuarial loss	(32)	(110)
Curtailment/Settlement	(1,554)	0
Total recognized in other comprehensive income	(2,998)	(1,313)
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Net actuarial gain	(324)	(878)
Amortization of: Prior service income	5	5
Amortization of actuarial loss	63	0
Curtailment/Settlement	0	0
Total recognized in other comprehensive income	$ (256)	$ (873)

PENSION AND OTHER POSTRETIREM_7

PENSION AND OTHER POSTRETIREMENT BENEFITS Estimated future benefit payments (Details) - Postretirement Health Benefits $ in Thousands	Jul. 31, 2023 USD ($)
Defined Benefit Plans and Postretirement Health Benefits
2024	$ 100
2025	132
2026	129
2027	133
2028	136
2029-2033	$ 867

PENSION AND OTHER POSTRETIREM_8

PENSION AND OTHER POSTRETIREMENT BENEFITS Assumptions used in calculations (Details)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Discount rate for net periodic benefit costs	0%	2.57%
Discount rate for year-end obligations	0%	4.05%
Rate of increase in compensation levels for net periodic benefit costs	0%	0%
Rate of increase in compensation levels for year-end obligations	0%	0%
Long-term expected rate of return on assets	0%	6.50%
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Discount rate for net periodic benefit costs	3.82%	2.10%
Discount rate for year-end obligations	4.90%	3.82%
Rate of increase in compensation levels for net periodic benefit costs	0%	0%
Rate of increase in compensation levels for year-end obligations	0%	0%
Long-term expected rate of return on assets	0%	0%

PENSION AND OTHER POSTRETIREM_9

PENSION AND OTHER POSTRETIREMENT BENEFITS Plan Assets Allocation Percentages (Details)	Jul. 31, 2023	Jul. 31, 2022
Cash and accrued income
Defined Benefit Plan Disclosure
Actual Allocation %	100%	0%
Fixed income
Defined Benefit Plan Disclosure
Actual Allocation %	0%	36%
Equity
Defined Benefit Plan Disclosure
Actual Allocation %	0%	64%

PENSION AND OTHER POSTRETIRE_10

PENSION AND OTHER POSTRETIREMENT BENEFITS Fair value level of pension plan assets (Details) - USD ($)	12 Months Ended
	Jul. 31, 2022	Jul. 31, 2023	Jul. 31, 2021
Equity securities - international mutual funds: Developed market
Defined Benefit Plan Disclosure
Minimum % of Fund Assets Invested in Non-US Stocks Developed Market	80%
Fixed Income: Government sponsored entities
Defined Benefit Plan Disclosure
Amount Backed by US Government	$ 114,000
Fixed Income: Multi-strategy bond fund | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	34,989,000	$ 148,000	$ 40,388,000
Pension Benefits | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	15,072,000
Pension Benefits | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	19,917,000
Pension Benefits | Cash and Cash Equivalents
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	51,000
Pension Benefits | Cash and Cash Equivalents | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	51,000
Pension Benefits | Cash and Cash Equivalents | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Equity securities U.S. companies
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	15,389,000
Pension Benefits | Equity securities U.S. companies | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	10,387,000
Pension Benefits | Equity securities U.S. companies | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	5,002,000
Pension Benefits | Equity securities International companies
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	521,000
Pension Benefits | Equity securities International companies | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	521,000
Pension Benefits | Equity securities International companies | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Equity securities - international mutual funds: Developed market
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	4,025,000
Pension Benefits | Equity securities - international mutual funds: Developed market | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	923,000
Pension Benefits | Equity securities - international mutual funds: Developed market | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	3,102,000
Pension Benefits | Equity securities - international mutual funds: Emerging market
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,517,000
Pension Benefits | Equity securities - international mutual funds: Emerging market | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,149,000
Pension Benefits | Equity securities - international mutual funds: Emerging market | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	368,000
Pension Benefits | Commodities
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,137,000
Pension Benefits | Commodities | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,137,000
Pension Benefits | Commodities | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Fixed Income: U.S. Treasuries
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	3,019,000
Pension Benefits | Fixed Income: U.S. Treasuries | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	904,000
Pension Benefits | Fixed Income: U.S. Treasuries | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	2,115,000
Pension Benefits | Fixed Income: Debt securities
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,656,000
Pension Benefits | Fixed Income: Debt securities | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Fixed Income: Debt securities | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,656,000
Pension Benefits | Fixed Income: Government sponsored entities
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,256,000
Pension Benefits | Fixed Income: Government sponsored entities | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Fixed Income: Government sponsored entities | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	1,256,000
Pension Benefits | Fixed Income: Multi-strategy bond fund
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	5,079,000
Pension Benefits | Fixed Income: Multi-strategy bond fund | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	5,079,000
Pension Benefits | Money Market Fund
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	389,000
Pension Benefits | Money Market Fund | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Money Market Fund | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	389,000
Pension Benefits | Other
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	950,000
Pension Benefits | Other | Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	0
Pension Benefits | Other | Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Plan Assets, Amount	$ 950,000

PENSION AND OTHER POSTRETIRE_11

PENSION AND OTHER POSTRETIREMENT BENEFITS Narrative (Details) - USD ($)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Settlements	$ 30,755,000	$ 0
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement	3,600,000
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	1,900,000
Defined Benefit Plan, Actuarial Gain (Loss), Immediate Recognition as Component in Net Periodic Benefit (Cost) Credit	1,900,000
Defined Contribution Plan, Employer Discretionary Contribution Amount	2,800,000
Accumulated benefit obligation	0	33,700,000
Employer contribution	0	0
Pension plan estimated employer contributions in next fiscal year	0
Pension Benefits | Annuity Purchase
Defined Benefit Plans and Other Postretirement Benefit Plans
Settlements	14,000,000
Pension Benefits | Lump-Sum Payment
Defined Benefit Plans and Other Postretirement Benefit Plans
Settlements	16,000,000
Postretirement Health Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Settlements	0	0
Employer contribution	$ 6,000	32,000
Health care cost trend rate assumed	8.20%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	4.90%
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate	2044
401K Plan
Defined Contribution Plan Disclosure
401 (k) administrative expenses	$ 800,000
Contribution to defined contribution plans	$ 3,200,000	$ 2,900,000

DEFERRED COMPENSATION Deferred

DEFERRED COMPENSATION Deferred Comp and Bonus (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Deferred Compensation
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Annual Total Amount Deferred	$ 0.6	$ 0.7
Deferred Compensation Interest Expense	0.2	0.2
Deferred Compensation Payments to Participants	0.9	0.4
Deferred Compensation Recorded Liability	4.6	4.8
Executive Deferred Bonus
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Deferred Compensation Arrangement with Individual, Contributions by Employer	$ 1.4	$ 0.7
Deferred Compensation Arrangement with Individual, Requisite Service Period	3 years

Payables and Accruals (Details)

Payables and Accruals (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
ACCRUED EXPENSES [Abstract]
Salaries, Wages, Commissions and Employee Benefits	$ 19,054	$ 13,439
Freight	3,078	4,022
Georgia Landfill Modification Reserve	2,469	0
Trade promotions and advertising	2,292	1,180
Real Estate Tax	1,038	1,006
Other	8,937	10,438
Accrued Expenses	$ 36,868	$ 30,085

OTHER CONTINGENCIES (Details)

OTHER CONTINGENCIES (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Georgia Landfill Modification Reserve	$ 2,469	$ 0

LEASES Lease, Cost (Details)

LEASES Lease, Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Leases [Abstract]
Operating lease cost	$ 2,640	$ 2,776
Short-term operating lease cost	2	553
Operating cash flows from operating leases	2,229	2,490
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 983	$ 4,377
Weighted-average remaining lease term - operating leases	7 years 8 months 12 days	7 years 8 months 12 days
Weighted-average discount rate - operating leases	4.03%	3.91%

LEASES Lessee, Operating Lease,

LEASES Lessee, Operating Lease, Liability, Payment Due, Rolling Maturity (Details) $ in Thousands	Jul. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 2,257
2025	2,168
2026	1,848
2027	1,433
2028	884
Thereafter	3,827
Total	12,417
Less: imputed interest	(1,735)
Net Lease Obligation	$ 10,682

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Director - USD ($)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Related Party Transaction
Net sales to related party customer	$ 200,000	$ 300,000
Accounts receivable due from related party customer	10,768	5,608
Purchases from related party vendor	200,000	700,000
Accounts payable due to related party vendor	$ 0	$ 0