Brady (BRC) 10-Q 23 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Apr. 30, 2019	May 21, 2019
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	BRC
Entity Registrant Name	BRADY CORP
Entity Central Index Key	0000746598
Current Fiscal Year End Date	--07-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Class A nonvoting common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		49,125,192
Class B voting common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,538,628

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2019	Jul. 31, 2018
Current assets:
Cash and cash equivalents	$ 238,432	$ 181,427
Accounts receivable—net	162,094	161,282
Inventories	119,895	113,071
Prepaid expenses and other current assets	18,746	15,559
Total current assets	539,167	471,339
Property, plant and equipment—net	99,491	97,945
Goodwill	412,378	419,815
Other intangible assets	38,135	42,588
Deferred income taxes	7,068	7,582
Other	19,638	17,662
Total	1,115,877	1,056,931
Current liabilities:
Accounts payable	64,584	66,538
Wages and amounts withheld from employees	52,849	67,619
Taxes, other than income taxes	7,886	8,318
Accrued income taxes	4,378	3,885
Other current liabilities	48,169	44,567
Total current liabilities	177,866	190,927
Long-term obligations	50,303	52,618
Other liabilities	63,164	61,274
Total liabilities	291,333	304,819
Stockholders’ equity:
Class A nonvoting common stock—Issued 51,261,487 shares, and outstanding 49,284,372 and 48,393,617 shares, respectively	513	513
Class B voting common stock—Issued and outstanding, 3,538,628 shares	35	35
Additional paid-in capital	330,051	325,631
Retained earnings	612,474	553,454
Treasury stock—1,977,115 and 2,867,870 shares, respectively, of Class A nonvoting common stock, at cost	(50,083)	(71,120)
Accumulated other comprehensive loss	(68,446)	(56,401)
Total stockholders’ equity	824,544	752,112
Total	$ 1,115,877	$ 1,056,931

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Apr. 30, 2019	Jul. 31, 2018
Class A nonvoting common stock
Common stock, shares issued	51,261,487	51,261,487
Common stock, shares outstanding	49,101,192	48,393,617
Treasury stock, shares	2,160,295	2,867,870
Class B voting common stock
Common stock, shares issued	3,538,628	3,538,628
Common stock, shares outstanding	3,538,628	3,538,628

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Net sales	$ 289,745	$ 298,421	$ 865,367	$ 876,352
Cost of goods sold	143,996	147,339	433,269	435,513
Gross margin	145,749	151,082	432,098	440,839
Operating expenses:
Research and development	11,437	11,678	33,837	33,512
Selling, general and administrative	94,691	101,695	281,988	299,411
Total operating expenses	106,128	113,373	315,825	332,923
Operating income	39,621	37,709	116,273	107,916
Other income (expense):
Investment and other income	2,065	31	3,425	1,303
Interest expense	(708)	(761)	(2,137)	(2,453)
Income before income taxes	40,978	36,979	117,561	106,766
Income tax expense	6,197	10,979	22,916	50,657
Net income	$ 34,781	$ 26,000	$ 94,645	$ 56,109
Weighted average common shares outstanding (in thousands):
Basic	52,766	51,747	52,499	51,628
Diluted	53,480	52,729	53,215	52,610
Class A nonvoting common stock
Earnings Per Share
Net earnings per share, basic	$ 0.66	$ 0.50	$ 1.80	$ 1.09
Net earnings per share, diluted	0.65	0.49	1.78	1.07
Dividends	0.21	0.21	0.64	0.62
Class B voting common stock
Earnings Per Share
Net earnings per share, basic	0.66	0.50	1.79	1.07
Net earnings per share, diluted	0.65	0.49	1.76	1.05
Dividends	$ 0.21	$ 0.21	$ 0.62	$ 0.61

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 34,781	$ 26,000	$ 94,645	$ 56,109
Foreign currency translation adjustments	(7,337)	(12,834)	(10,641)	(3,549)
Cash flow hedges:
Net gain recognized in other comprehensive loss	220	657	377	119
Reclassification adjustment for (gains) losses included in net income	(292)	264	(579)	446
Total cash flow hedges	(72)	921	(202)	565
Pension and other post-retirement benefits:
Net (loss) gain recognized in other comprehensive loss	(124)	(163)	(423)	(434)
Actuarial gain amortization	0	0	(169)	592
Total pension and other post-retirement benefits	(124)	(163)	(592)	158
Other comprehensive loss, before tax	(7,533)	(12,076)	(11,435)	(2,826)
Income tax expense related to items of other comprehensive loss	(348)	(980)	(610)	(638)
Other comprehensive loss, net of tax	(7,881)	(13,056)	(12,045)	(3,464)
Comprehensive Income [Member]
Pension and other post-retirement benefits:
Comprehensive income	$ 26,900	$ 12,944	$ 82,600	$ 52,645

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Operating activities:
Net income	$ 94,645	$ 56,109
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,836	19,047
Non-cash portion of stock-based compensation expense	10,311	7,581
Deferred income taxes	3,796	26,501
Changes in operating assets and liabilities (net of effects of business acquisitions/divestitures):
Accounts receivable	332	(10,710)
Inventories	(9,254)	(7,790)
Prepaid expenses and other assets	(2,204)	480
Accounts payable and other liabilities	(19,176)	(133)
Income taxes	616	(1,863)
Net cash provided by operating activities	96,902	89,222
Investing activities:
Purchases of property, plant and equipment	(17,528)	(14,755)
Other	(1,810)	(197)
Net cash used in investing activities	(19,338)	(14,952)
Financing activities:
Payments of Dividends	(33,488)	(32,110)
Proceeds from exercise of stock options	20,333	10,011
Proceeds from borrowing on credit facilities	13,637	17,439
Repayment of borrowing on credit facilities	(13,568)	(69,012)
Other	(5,185)	(3,622)
Net cash used in financing activities	(18,271)	(77,294)
Effect of exchange rate changes on cash	(2,288)	(17)
Net increase (decrease) in cash and cash equivalents	57,005	(3,041)
Cash and cash equivalents, beginning of period	181,427	133,944
Cash and cash equivalents, end of period	$ 238,432	$ 130,903

Basis of Presentation

Basis of Presentation	9 Months Ended
	Apr. 30, 2019
Text Block [Abstract]
Basis of Presentation	NOTE A — Basis of Presentation The condensed consolidated financial statements included herein have been prepared by Brady Corporation and subsidiaries (the "Company," "Brady," "we," or "our") without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of the Company, the foregoing statements contain all adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial position of the Company as of April 30, 2019 and July 31, 2018 , its results of operations and comprehensive income for the three and nine months ended April 30, 2019 and 2018 , and cash flows for the nine months ended April 30, 2019 and 2018 . The condensed consolidated balance sheet as of July 31, 2018 , has been derived from the audited consolidated financial statements as of that date. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from the estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to rules and regulations of the Securities and Exchange Commission. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statement presentation. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s annual report on Form 10-K for the year ended July 31, 2018 .

New Accounting Pronouncements (

New Accounting Pronouncements (Notes)	9 Months Ended
	Apr. 30, 2019
Entity Information [Line Items]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In August 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-12 "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities," which simplifies and reduces the complexity of the hedge accounting requirements and better aligns an entity's financial reporting for hedging relationships with its risk management activities. The guidance is effective for interim periods in fiscal years beginning after December 15, 2018, with early adoption permitted. This new guidance will require a modified retrospective adoption approach to existing hedging relationships as of the adoption date. The Company is currently evaluating the impact of this update on its consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-04, "Goodwill and Other, Simplifying the Test for Goodwill Impairment," which simplifies the accounting for goodwill impairment. The new guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. This guidance is effective for annual periods beginning after December 15, 2019, and interim periods thereafter; however, early adoption is permitted for any impairment tests performed after January 1, 2017. The Company has not adopted this guidance, which will only impact the Company's consolidated financial statements if there is a future impairment of goodwill. In February 2016, the FASB issued ASU 2016-02, "Leases," which replaces the current lease accounting standards. The update requires, among other items, lessees to recognize the assets and liabilities that arise from most leases on the balance sheet and disclose key information about leasing arrangements. This guidance is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The ASU allows for either a full-retrospective or a modified-retrospective approach and early adoption is permitted. In July 2018, the FASB approved an optional transition method to allow companies to apply the new lease standard as of the adoption date and recognize a cumulative-effect adjustment to beginning retained earnings in the period of adoption. The Company has formed a team to implement the new lease standard and has implemented a third-party software program to track and store its leases. The implementation team has been evaluating the Company’s global lease portfolio, determining the reporting requirements of the new standard, and is in the process of implementing changes to its processes and internal controls to support lease accounting and disclosure requirements. The Company expects to record right-of-use assets and lease liabilities as a result of the new lease standard; however, it is still evaluating the magnitude of the impact on its consolidated financial statements. The Company plans to adopt the new standard effective August 1, 2019 using the optional transition method. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers" ("Topic 606"), which eliminates the transaction and industry-specific revenue recognition guidance and replaced it with a principles-based approach for determining revenue recognition. The new guidance requires revenue recognition when control of the goods or services transfers to the customer, replacing the existing guidance which requires revenue recognition when the risks and rewards transfer to the customer. The Company adopted ASU 2014-09 (and related updates) effective August 1, 2018 using the modified retrospective method to apply this guidance to all contracts at the date of initial application. Results for reporting periods beginning after August 1, 2018 are presented under Topic 606, while comparative prior period amounts have not been restated and continue to be presented under accounting standards in effect in those periods. The results of applying Topic 606 were not material to the Company's consolidated financial condition, results of operations, cash flows, business processes, controls, or systems. Upon adoption, the Company recorded a cumulative adjustment to the opening balance of retained earnings as of August 1, 2018, which resulted in a decrease to retained earnings of $2,137 , net of tax. The adjustment was primarily due to a change in timing of when revenue and the related costs for certain extended service-type warranties are recognized, as required per Topic 606. Refer to Note C "Revenue Recognition" for additional information and required disclosures under the new standard.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Notes)	9 Months Ended
	Apr. 30, 2019
Revenue Recognition [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company’s revenues are primarily from the sale of identification solutions and workplace safety products that are shipped and billed to customers. All revenue is from contracts with customers and is included in "Net sales" on the condensed consolidated statements of income. The Company considers the purchase orders, which in some cases are governed by master sales or distributor agreements, to be its contracts with customers. For each contract, the Company considers the commitment to transfer products, each of which is distinct, to be its identified performance obligations. Timing The majority of the Company's revenue is earned and recognized at a point in time through ship-and-bill performance obligations, when control of the product is transferred to the customer, which typically occurs upon shipment or delivery to the customer, depending on freight terms. To determine when control has transferred, the Company considers if there is a present right to payment; and if legal title, physical possession, and the significant risks and rewards of ownership of the asset has transferred to the customer. Once a product has shipped or has been delivered, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. Measurement Revenue is measured as the amount of consideration the Company expects to be entitled to in exchange for the transfer of product, which is generally the price stated in the contract specific for each item sold, adjusted for the value of expected returns, discounts, rebates, or other allowances offered to the Company's customers as a reduction of the transaction price. Certain discounts and price assurances are fixed and known at the time of sale. Expected returns and other allowances are variable and are estimated using the expected value method based upon historical experience. Rebates offered to customers are retrospective and typically defined in the master sales or distributor agreements, and therefore are recorded using the most likely amount method based on the terms of the contract. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Payment Terms While the Company’s standard payment terms are net 30 days, the specific payment terms and conditions in its customer contracts vary. In some cases, customers pay for their goods at time of shipment or upon delivery; in other cases, after appropriate credit evaluation, an open credit line is granted and payment is due in arrears. Contracts with payment in arrears are recognized in the condensed consolidated balance sheet as accounts receivable. Warranties The Company offers standard warranty coverage on substantially all products that it sells, and accounts for this standard warranty coverage as an assurance warranty. As such, no transaction price is allocated to the standard warranty, and the Company records a liability for product warranty obligations at the time of sale to a customer based upon historical warranty experience. The Company also sells extended warranty coverage for certain products, which it accounts for as service warranties. In most cases, the extended service warranty is included with the purchase of the product. In applying Topic 606, the Company considers the extended service warranty to be a separate performance obligation in the contract and allocates a portion of the transaction price to the service warranty based on the estimated stand-alone selling price. Under Topic 606, the extended warranty transaction price is initially recorded as deferred revenue on the consolidated balance sheet and recognized on a straight-line basis over the life of the service warranty period. The deferred revenue is considered a contract liability as the Company has a right to payment at the time the product with the related extended service warranty is shipped or delivered and therefore, payment is received in advance of the Company's performance. The balance of contract liabilities as of April 30, 2019 , was $2,791 . This also represents the amount of unsatisfied performance obligations related to contracts that extend beyond one year. Of this amount, the Company expects to recognize 48% by the end of fiscal 2020, an additional 25% by the end of fiscal 2021, and the balance thereafter. Upon adoption of Topic 606, at the beginning of fiscal 2019, the contract liability balance was $2,796 . The current portion of contract liabilities and the non-current portion are included in “Other current liabilities” and “Other liabilities," respectively, on the consolidated balance sheet. During the three and nine months ended April 30, 2019 , the Company recognized revenue of $315 and $937 , respectively, that was included in the contract liability balance at the beginning of the period, which was from the amortization of extended service warranties. Practical Expedients With the exception of the performance obligations related to the extended service warranties, the Company's contracts have an original expected duration of one year or less. As a result, the Company has elected to use the practical expedient to not disclose its remaining performance obligations for contracts that have an original expected length of one year or less. The Company applied the portfolio approach to its ship-and-bill contracts that have similar characteristics as it reasonably expects that the effects on the financial statements of applying this guidance to the portfolio of contracts would not differ materially from applying this guidance to the individual contracts within the portfolio. As the Company’s product sale contracts and standard payment terms have a duration of less than one year, it uses the practical expedient applicable to such contracts and does not consider the time value of money. Sales, use, value-add and other similar taxes assessed by governmental authorities and collected concurrent with revenue-producing activities are excluded from revenue. The Company accounts for shipping and handling activities that occur after control of the related products transfers to the customer as fulfillment activities and are therefore recognized as revenue at time of shipping. The Company expenses incremental direct costs of obtaining a contract (e.g., sales commissions) when incurred because the amortization period is generally twelve months or less. Contract costs are expensed in "Selling, general, and administrative expenses" on the condensed consolidated statements of income. Refer to Note H, "Segment Information," for the Company's disaggregated revenue disclosure.

Additional Balance Sheet Inform

Additional Balance Sheet Information (Notes)	9 Months Ended
	Apr. 30, 2019
Additional Balance Sheet Information [Abstract]
Supplemental Balance Sheet Disclosures [Text Block]	Additional Balance Sheet Information Inventories Inventories as of April 30, 2019 , and July 31, 2018 , consisted of the following: April 30, 2019 July 31, 2018 Finished products $ 76,117 $ 73,133 Work-in-process 22,240 19,903 Raw materials and supplies 21,538 20,035 Total inventories $ 119,895 $ 113,071 Property, plant and equipment Property, plant and equipment is presented net of accumulated depreciation in the amount of $274,476 and $280,778 as of April 30, 2019 , and July 31, 2018 , respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Apr. 30, 2019
Text Block [Abstract]
Goodwill and Intangible Assets	Other Intangible Assets Other intangible assets include patents, trademarks, and customer relationships with finite lives being amortized in accordance with the accounting guidance for other intangible assets. The Company also has unamortized indefinite-lived trademarks that are classified as other intangible assets. The net book value of these assets was as follows: April 30, 2019 July 31, 2018 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amortized other intangible assets: Customer relationships and other 8 $ 52,203 $ (33,487 ) $ 18,716 9 $ 61,944 $ (38,872 ) $ 23,072 Unamortized other intangible assets: Trademarks N/A 19,419 — 19,419 N/A 19,516 — 19,516 Total $ 71,622 $ (33,487 ) $ 38,135 $ 81,460 $ (38,872 ) $ 42,588 Amortization expense of intangible assets was $1,443 and $ 1,620 for the three months ended April 30, 2019 and 2018 , respectively, and $4,314 and $4,930 for the nine months ended April 30, 2019 and 2018 , respectively. The amortization over each of the next five fiscal years is projected to be $ 5,708 , $ 5,183 , $ 5,144 , $ 5,002 and $ 2,025 for the fiscal years ending July 31, 2019 , 2020 , 2021 , 2022 and 2023 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss Other Comprehensive Income (Loss)	9 Months Ended
	Apr. 30, 2019
Other Comprehensive Income (Loss), Tax [Abstract]
Comprehensive Income (Loss) Note	NOTE F — Accumulated Other Comprehensive Loss Other comprehensive loss consists of foreign currency translation adjustments, unrealized gains and losses from cash flow hedges and net investment hedges, and the unamortized gain on post-retirement plans, net of their related tax effects. The following table illustrates the changes in the balances of each component of accumulated other comprehensive loss, net of tax, for the nine months ended April 30, 2019 : Unrealized gain on cash flow hedges Unamortized gain on post-retirement plans Foreign currency translation adjustments Accumulated other comprehensive loss Beginning balance, July 31, 2018 $ 863 $ 3,302 $ (60,566 ) $ (56,401 ) Other comprehensive income (loss) before reclassification 233 (169 ) (11,252 ) (11,188 ) Amounts reclassified from accumulated other comprehensive loss (434 ) (423 ) — (857 ) Ending balance, April 30, 2019 $ 662 $ 2,710 $ (71,818 ) $ (68,446 ) The increase in accumulated other comprehensive loss as of April 30, 2019 , compared to July 31, 2018 , was primarily due to the appreciation of the U.S. dollar against certain other currencies during the nine-month period. The foreign currency translation adjustments column in the table above includes the impact of foreign currency translation, including foreign currency translation on long-term intercompany notes and net investment hedges, net of tax. Of the total $857 in amounts reclassified from accumulated other comprehensive loss, the $434 gain on cash flow hedges was reclassified into cost of goods sold, and the $423 gain on post-retirement plans was reclassified into investment and other income on the condensed consolidated statement of income for the nine months ended April 30, 2019 . The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended April 30, 2018 , were as follows: Unrealized gain on cash flow hedges Unamortized gain on post-retirement plans Foreign currency translation adjustments Accumulated other comprehensive loss Beginning balance, July 31, 2017 $ 109 $ 2,620 $ (47,411 ) $ (44,682 ) Other comprehensive (loss) income before reclassification (124 ) 414 (3,630 ) (3,340 ) Amounts reclassified from accumulated other comprehensive loss 310 (434 ) — (124 ) Ending balance, April 30, 2018 $ 295 $ 2,600 $ (51,041 ) $ (48,146 ) The increase in accumulated other comprehensive loss as of April 30, 2018 , compared to July 31, 2017 , was primarily due to the appreciation of the U.S. dollar against certain other currencies during the nine-month period. The foreign currency translation adjustments column in the table above includes the impact of foreign currency translation, including foreign currency translation on long-term intercompany notes and net investment hedges, net of tax. Of the total $124 in amounts reclassified from accumulated other comprehensive loss, the $310 loss on cash flow hedges was reclassified into cost of goods sold, and the $434 gain on post-retirement plans was reclassified into selling, general and administrative expenses ("SG&A") on the condensed consolidated statement of income for the nine months ended April 30, 2018 . The following table illustrates the income tax expense on the components of other comprehensive loss for the three and nine months ended April 30, 2019 and 2018 : Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Income tax expense related to items of other comprehensive loss: Cash flow hedges $ 38 $ (262 ) $ — $ (379 ) Pension and other post-retirement benefits — — — (178 ) Other income tax adjustments and currency translation (386 ) (718 ) (610 ) (81 ) Income tax expense related to items of other comprehensive loss $ (348 ) $ (980 ) $ (610 ) $ (638 )

Net Income per Common Share

Net Income per Common Share	9 Months Ended
	Apr. 30, 2019
Earnings Per Share [Abstract]
Net Income per Common Share	Net Income per Common Share Reconciliations of the numerator and denominator of the basic and diluted per share computations for the Company’s Class A and Class B common stock are summarized as follows: Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Numerator: Income (Numerator for basic and diluted Class A Nonvoting Common Share) $ 34,781 $ 26,000 $ 94,645 $ 56,109 Less: Preferential dividends — — (815 ) (799 ) Preferential dividends on dilutive stock options — — (13 ) (16 ) Numerator for basic and diluted income per Class B Voting Common Share $ 34,781 $ 26,000 $ 93,817 $ 55,294 Denominator: (in thousands) Denominator for basic income per share for both Class A and Class B 52,766 51,747 52,499 51,628 Plus: Effect of dilutive stock options and restricted stock units 714 982 716 982 Denominator for diluted income per share for both Class A and Class B 53,480 52,729 53,215 52,610 Net Income per Class A Nonvoting Common Share: Basic $ 0.66 $ 0.50 $ 1.80 $ 1.09 Diluted $ 0.65 $ 0.49 $ 1.78 $ 1.07 Net Income per Class B Voting Common Share: Basic $ 0.66 $ 0.50 $ 1.79 $ 1.07 Diluted $ 0.65 $ 0.49 $ 1.76 $ 1.05 Options to purchase 269,606 and 675,329 shares of Class A Nonvoting Common Stock for the three months ended April 30, 2019 and 2018 , respectively, and 407,477 and 705,843 shares for the nine months ended April 30, 2019 and 2018 , respectively, were not included in the computation of diluted net income per share because the option exercise price was greater than the average market price of the common shares and, therefore, the effect would have been anti-dilutive.

Segment Information

Segment Information	9 Months Ended
	Apr. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is organized and managed on a global basis within three operating segments, Identification Solutions, Workplace Safety, and People Identification ("People ID"), which aggregate into two reportable segments that are organized around businesses with consistent products and services: IDS and WPS. The Identification Solutions and People ID operating segments aggregate into the IDS reporting segment, while the WPS reporting segment is comprised solely of the Workplace Safety operating segment. The Company evaluates short-term segment performance based on segment profit and customer sales. Interest expense, investment and other income, income taxes, and certain corporate administrative expenses are excluded when evaluating segment performance. Net sales by segment and geographic region for the three and nine months ended April 30, 2019 and 2018 is as follows: Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Net sales: ID Solutions Americas $ 143,557 $ 139,061 $ 427,671 $ 412,271 Europe 48,984 51,248 145,094 147,623 Asia 21,438 21,845 68,518 68,397 Total $ 213,979 $ 212,154 $ 641,283 $ 628,291 Workplace Safety Americas $ 25,778 $ 28,790 $ 74,861 $ 81,747 Europe 38,372 44,846 113,816 129,887 Australia 11,616 12,631 35,407 36,427 Total $ 75,766 $ 86,267 $ 224,084 $ 248,061 Total Company Americas $ 169,335 $ 167,851 $ 502,532 $ 494,018 Europe 87,356 96,094 258,910 277,510 Asia-Pacific 33,054 34,476 103,925 104,824 Total $ 289,745 $ 298,421 $ 865,367 $ 876,352 Segment profit for the three and nine months ended April 30, 2019 and 2018 is as follows: Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Segment profit: ID Solutions $ 39,892 $ 36,970 $ 119,311 $ 106,896 Workplace Safety 6,099 7,537 16,301 21,037 Total Company $ 45,991 $ 44,507 $ 135,612 $ 127,933 The following is a reconciliation of segment profit to income before income taxes for the three and nine months ended April 30, 2019 and 2018 : Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Total profit from reportable segments $ 45,991 $ 44,507 $ 135,612 $ 127,933 Unallocated amounts: Administrative costs (6,370 ) (6,798 ) (19,339 ) (20,017 ) Investment and other income 2,065 31 3,425 1,303 Interest expense (708 ) (761 ) (2,137 ) (2,453 ) Income before income taxes $ 40,978 $ 36,979 $ 117,561 $ 106,766

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Apr. 30, 2019
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Stockholders' Equity The following table illustrates the changes in the balances of each component of stockholders' equity for the three months ended April 30, 2019 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at January 31, 2019 $ 548 $ 328,978 $ 588,918 $ (54,498 ) $ (60,565 ) $ 803,381 Net income — — 34,781 — — 34,781 Other comprehensive loss, net of tax — — — — (7,881 ) (7,881 ) Issuance of shares of Class A Common Stock under stock plan — (1,433 ) — 4,415 — 2,982 Stock-based compensation expense — 2,506 — — — 2,506 Cash dividends on Common Stock Class A — $0.21 per share — — (10,473 ) — — (10,473 ) Class B — $0.21 per share — — (752 ) — — (752 ) Balances at April 30, 2019 $ 548 $ 330,051 $ 612,474 $ (50,083 ) $ (68,446 ) $ 824,544 The following table illustrates the changes in the balances of each component of stockholders' equity for the nine months ended April 30, 2019 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at July 31, 2018 $ 548 $ 325,631 $ 553,454 $ (71,120 ) $ (56,401 ) $ 752,112 Net income — — 94,645 — — 94,645 Other comprehensive loss, net of tax — — — — (12,045 ) (12,045 ) Issuance of shares of Class A Common Stock under stock plan — (6,100 ) — 24,219 — 18,119 Tax benefit and withholdings from deferred compensation distributions — 209 — — — 209 Stock-based compensation expense — 10,311 — — — 10,311 Purchase of shares of Class A Common Stock — — — (3,182 ) — (3,182 ) Cumulative adjustment for ASU 2014-09, net of tax (Note B) — — (2,137 ) — — (2,137 ) Cash dividends on Common Stock Class A — $0.64 per share — — (31,291 ) — — (31,291 ) Class B — $0.62 per share — — (2,197 ) — — (2,197 ) Balances at April 30, 2019 $ 548 $ 330,051 $ 612,474 $ (50,083 ) $ (68,446 ) $ 824,544 The following table illustrates the changes in the balances of each component of stockholders' equity for the three months ended April 30, 2018 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at January 31, 2018 $ 548 $ 325,733 $ 515,872 $ (75,090 ) $ (35,090 ) $ 731,973 Net income — — 26,000 — — 26,000 Other comprehensive loss, net of tax — — — — (13,056 ) (13,056 ) Issuance of shares of Class A Common Stock under stock plan — (16 ) — 77 — 61 Stock-based compensation expense — 1,684 — — — 1,684 Purchase of shares of Class A Common Stock — — — (1,278 ) — (1,278 ) Cash dividends on Common Stock Class A — $0.21 per share — — (10,003 ) — — (10,003 ) Class B — $0.21 per share — — (734 ) — — (734 ) Balances at April 30, 2018 $ 548 $ 327,401 $ 531,135 $ (76,291 ) $ (48,146 ) $ 734,647 The following table illustrates the changes in the balances of each component of stockholders' equity for the nine months ended April 30, 2018 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at July 31, 2017 $ 548 $ 322,608 $ 507,136 $ (85,470 ) $ (44,682 ) $ 700,140 Net income — — 56,109 — — 56,109 Other comprehensive loss, net of tax — — — — (3,464 ) (3,464 ) Issuance of shares of Class A Common Stock under stock plan — (3,001 ) — 10,879 — 7,878 Tax benefit and withholdings from deferred compensation distributions — 213 — (422 ) — (209 ) Stock-based compensation expense — 7,581 — — — 7,581 Purchase of shares of Class A Common Stock — — — (1,278 ) — (1,278 ) Cash dividends on Common Stock Class A — $0.62 per share — — (29,970 ) — — (29,970 ) Class B — $0.60 per share — — (2,140 ) — — (2,140 ) Balances at January 31, 2018 $ 548 $ 327,401 $ 531,135 $ (76,291 ) $ (48,146 ) $ 734,647

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2019
Text Block [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with fair value accounting guidance, the Company’s assets and liabilities measured at fair market value are classified in one of the following categories: Level 1 — Assets or liabilities for which fair value is based on unadjusted quoted prices in active markets for identical instruments that are accessible as of the reporting date. Level 2 — Assets or liabilities for which fair value is based on other significant pricing inputs that are either directly or indirectly observable. Level 3 — Assets or liabilities for which fair value is based on significant unobservable pricing inputs to the extent little or no market data is available, which result in the use of management's own assumptions. The following tables set forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at April 30, 2019 and July 31, 2018 , according to the valuation techniques the Company used to determine their fair values. Inputs Considered As Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Fair Values Balance Sheet Classifications April 30, 2019 Trading securities $ 15,890 $ — $ 15,890 Other assets Foreign exchange contracts — 532 532 Prepaid expenses and other current assets Total Assets $ 15,890 $ 532 $ 16,422 Foreign exchange contracts $ — $ 10 $ 10 Other current liabilities Total Liabilities $ — $ 10 $ 10 July 31, 2018 Trading securities $ 14,383 $ — $ 14,383 Other assets Foreign exchange contracts — 1,077 1,077 Prepaid expenses and other current assets Total Assets $ 14,383 $ 1,077 $ 15,460 Foreign exchange contracts $ — $ 3 $ 3 Other current liabilities Total Liabilities $ — $ 3 $ 3 The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Trading securities: The Company’s deferred compensation investments consist of investments in mutual funds. These investments were classified as Level 1 as the shares of these investments trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. Foreign exchange contracts: The Company’s foreign exchange contracts were classified as Level 2 as the fair value was based on the present value of the future cash flows using external models that use observable inputs, such as interest rates, yield curves and foreign exchange rates. See Note J, “Derivatives and Hedging Activities,” for additional information. There have been no transfers of assets or liabilities between the fair value hierarchy levels outlined above during the nine months ended April 30, 2019 . In addition, the Company had no significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition during the nine months ended April 30, 2019 . The Company’s financial instruments, other than those presented in the disclosures above, include cash and cash equivalents, accounts receivable, accounts payable, and other liabilities. The fair values of these financial instruments approximated carrying values because of their short-term nature. The estimated fair value of the Company’s short-term and long-term debt obligations based on the quoted market prices for similar issues and on the current rates offered for debt of similar maturities was $52,092 and $55,707 at April 30, 2019 and July 31, 2018 , respectively, as compared to the carrying value of $50,303 and $52,618 at April 30, 2019 and July 31, 2018 , respectively.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Apr. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company utilizes forward foreign exchange currency contracts to reduce the exchange rate risk of specific foreign currency denominated transactions. These contracts typically require the exchange of a foreign currency for U.S. dollars at a fixed rate at a future date, with maturities of less than 18 months , which qualify as cash flow hedges or net investment hedges under the accounting guidance for derivative instruments and hedging activities. The primary objective of the Company’s foreign currency exchange risk management program is to minimize the impact of currency movements due to transactions in other than the respective subsidiaries’ functional currency and to minimize the impact of currency movements on the Company’s net investment denominated in a currency other than the U.S. dollar. To achieve this objective, the Company hedges a portion of known exposures using forward foreign exchange currency contracts. As of April 30, 2019 and July 31, 2018 , the notional amount of outstanding forward exchange contracts was $ 10,231 and $32,667 , respectively. The Company hedges a portion of known exposures using forward exchange contracts. Main exposures are related to transactions denominated in the Euro, Canadian dollar, and Mexican peso. Generally, these risk management transactions will involve the use of foreign currency derivatives to minimize the impact of currency movements on non-functional currency transactions. Hedge effectiveness is determined by how closely the changes in fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged item. Hedge accounting is permitted only if the hedging relationship is expected to be highly effective at the inception of the hedge and on an on-going basis. Gains or losses on the derivative related to hedge ineffectiveness are recognized in current income. Cash Flow Hedges The Company has designated a portion of its foreign exchange contracts as cash flow hedges and recorded these contracts at fair value on the condensed consolidated balance sheets. For these instruments, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income ("OCI") and reclassified into income in the same period or periods during which the hedged transaction affects earnings. As of April 30, 2019 and 2018 , unrealized gains of $815 and $65 have been included in OCI, respectively. Balances are reclassified from OCI to income when the hedged transactions impact income. For the three months ended April 30, 2019 and 2018 , the Company reclassified gains of $292 and losses of $264 from OCI into income, respectively. For the nine months ended April 30, 2019 and 2018 , the Company reclassified gains of $579 and losses of $446 from OCI into income, respectively. At April 30, 2019 , the U.S. dollar equivalent of these outstanding forward foreign exchange contracts totaled $ 6,823 , including contracts to sell Euros and contracts to buy Mexican pesos. Net Investment Hedges The Company has designated €45 million of Euro-denominated senior unsecured notes as net investment hedges to hedge portions of the Company's net investment in European operations. The Company’s foreign denominated debt obligations are valued under a market approach using publicized spot prices. Non-Designated Hedges The Company recognized losses of $6 and $49 for the three and nine months ended April 30, 2019 , respectively, and gains of $9 and $29 for the three and nine months ended April 30, 2018 , respectively, in “Investment and other income” on the condensed consolidated statements of income related to non-designated hedges. Fair values of derivative instruments in the condensed consolidated balance sheets were as follows: Asset Derivatives Liability Derivatives April 30, 2019 July 31, 2018 April 30, 2019 July 31, 2018 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Cash flow hedges Foreign exchange contracts Prepaid expenses and other current assets $ 528 Prepaid expenses and other current assets $ 1,076 Other current liabilities $ — Other current liabilities $ — Net investment hedges Foreign currency denominated debt Prepaid expenses and other current assets — Prepaid expenses and other current assets — Long term obligations 50,332 Long term obligations 52,668 Total derivatives designated as hedging instruments $ 528 $ 1,076 $ 50,332 $ 52,668 Derivatives not designated as hedging instruments Foreign exchange contracts Prepaid expenses and other current assets $ 4 Prepaid expenses and other current assets $ 1 Other current liabilities $ 10 Other current liabilities $ 3 Total derivatives not designated as hedging instruments $ 4 $ 1 $ 10 $ 3

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2019
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The effective income tax rates for the three and nine months ended April 30, 2019 , were 15.1% and 19.5% , respectively. The Company expects its ongoing annual effective income tax rate to be in the mid-20 percent range based on its current global business mix. The effective income tax rates for the three and nine months ended April 30, 2019 , were lower than the expected income tax rate due to the reversal of certain reserves for uncertain tax positions due to the favorable settlement of such foreign and domestic tax matters, partially offset by an increase in the valuation allowance against foreign tax credit carryforwards. The effective income tax rates for the three and nine months ended April 30, 2018 , were 29.7% and 47.4% , respectively. The income tax rates were significantly impacted by the recognition of additional tax expense of $21,060 primarily due to the enactment of the Tax Cuts and Jobs Act (the "Tax Reform Act") passed in December 2017.

Subsequent Events

Subsequent Events	9 Months Ended
	Apr. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE M — Subsequent Events On May 21, 2019, the Board of Directors declared a quarterly cash dividend to shareholders of the Company’s Class A and Class B Common Stock of $0.2125 per share payable on July 31, 2019, to shareholders of record at the close of business on July 10, 2019.

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	9 Months Ended
	Apr. 30, 2019
Additional Balance Sheet Information [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories as of April 30, 2019 , and July 31, 2018 , consisted of the following: April 30, 2019 July 31, 2018 Finished products $ 76,117 $ 73,133 Work-in-process 22,240 19,903 Raw materials and supplies 21,538 20,035 Total inventories $ 119,895 $ 113,071

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Apr. 30, 2019
Text Block [Abstract]
Other Intangible Assets	The net book value of these assets was as follows: April 30, 2019 July 31, 2018 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amortized other intangible assets: Customer relationships and other 8 $ 52,203 $ (33,487 ) $ 18,716 9 $ 61,944 $ (38,872 ) $ 23,072 Unamortized other intangible assets: Trademarks N/A 19,419 — 19,419 N/A 19,516 — 19,516 Total $ 71,622 $ (33,487 ) $ 38,135 $ 81,460 $ (38,872 ) $ 42,588

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss Other Comprehensive Income, Net of Tax (Tables)	9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Other Comprehensive Income (Loss), Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table illustrates the changes in the balances of each component of accumulated other comprehensive loss, net of tax, for the nine months ended April 30, 2019 : Unrealized gain on cash flow hedges Unamortized gain on post-retirement plans Foreign currency translation adjustments Accumulated other comprehensive loss Beginning balance, July 31, 2018 $ 863 $ 3,302 $ (60,566 ) $ (56,401 ) Other comprehensive income (loss) before reclassification 233 (169 ) (11,252 ) (11,188 ) Amounts reclassified from accumulated other comprehensive loss (434 ) (423 ) — (857 ) Ending balance, April 30, 2019 $ 662 $ 2,710 $ (71,818 ) $ (68,446 )	The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended April 30, 2018 , were as follows: Unrealized gain on cash flow hedges Unamortized gain on post-retirement plans Foreign currency translation adjustments Accumulated other comprehensive loss Beginning balance, July 31, 2017 $ 109 $ 2,620 $ (47,411 ) $ (44,682 ) Other comprehensive (loss) income before reclassification (124 ) 414 (3,630 ) (3,340 ) Amounts reclassified from accumulated other comprehensive loss 310 (434 ) — (124 ) Ending balance, April 30, 2018 $ 295 $ 2,600 $ (51,041 ) $ (48,146 )
Other Comprehensive Income, Tax	The following table illustrates the income tax expense on the components of other comprehensive loss for the three and nine months ended April 30, 2019 and 2018 : Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Income tax expense related to items of other comprehensive loss: Cash flow hedges $ 38 $ (262 ) $ — $ (379 ) Pension and other post-retirement benefits — — — (178 ) Other income tax adjustments and currency translation (386 ) (718 ) (610 ) (81 ) Income tax expense related to items of other comprehensive loss $ (348 ) $ (980 ) $ (610 ) $ (638 )

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	9 Months Ended
	Apr. 30, 2019
Earnings Per Share [Abstract]
Reconciliations of Numerator and Denominator of Basic and Diluted Per Share	Reconciliations of the numerator and denominator of the basic and diluted per share computations for the Company’s Class A and Class B common stock are summarized as follows: Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Numerator: Income (Numerator for basic and diluted Class A Nonvoting Common Share) $ 34,781 $ 26,000 $ 94,645 $ 56,109 Less: Preferential dividends — — (815 ) (799 ) Preferential dividends on dilutive stock options — — (13 ) (16 ) Numerator for basic and diluted income per Class B Voting Common Share $ 34,781 $ 26,000 $ 93,817 $ 55,294 Denominator: (in thousands) Denominator for basic income per share for both Class A and Class B 52,766 51,747 52,499 51,628 Plus: Effect of dilutive stock options and restricted stock units 714 982 716 982 Denominator for diluted income per share for both Class A and Class B 53,480 52,729 53,215 52,610 Net Income per Class A Nonvoting Common Share: Basic $ 0.66 $ 0.50 $ 1.80 $ 1.09 Diluted $ 0.65 $ 0.49 $ 1.78 $ 1.07 Net Income per Class B Voting Common Share: Basic $ 0.66 $ 0.50 $ 1.79 $ 1.07 Diluted $ 0.65 $ 0.49 $ 1.76 $ 1.05

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Apr. 30, 2019
Segment Reporting [Abstract]
Net Sales by Segment and Geographic Region	The Company is organized and managed on a global basis within three operating segmen
Segment Profit	Segment profit for the three and nine months ended April 30, 2019 and 2018 is as follows: Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Segment profit: ID Solutions $ 39,892 $ 36,970 $ 119,311 $ 106,896 Workplace Safety 6,099 7,537 16,301 21,037 Total Company $ 45,991 $ 44,507 $ 135,612 $ 127,933
Reconciliation of segment profit to earnings before income taxes	The following is a reconciliation of segment profit to income before income taxes for the three and nine months ended April 30, 2019 and 2018 : Three months ended April 30, Nine months ended April 30, 2019 2018 2019 2018 Total profit from reportable segments $ 45,991 $ 44,507 $ 135,612 $ 127,933 Unallocated amounts: Administrative costs (6,370 ) (6,798 ) (19,339 ) (20,017 ) Investment and other income 2,065 31 3,425 1,303 Interest expense (708 ) (761 ) (2,137 ) (2,453 ) Income before income taxes $ 40,978 $ 36,979 $ 117,561 $ 106,766

Stockholders' Equity Schedule o

Stockholders' Equity Schedule of Stockholders' Equity (Tables)	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Schedule of Stockholders' Equity [Abstract]
Schedule of Stockholders Equity [Table Text Block]	The following table illustrates the changes in the balances of each component of stockholders' equity for the three months ended April 30, 2019 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at January 31, 2019 $ 548 $ 328,978 $ 588,918 $ (54,498 ) $ (60,565 ) $ 803,381 Net income — — 34,781 — — 34,781 Other comprehensive loss, net of tax — — — — (7,881 ) (7,881 ) Issuance of shares of Class A Common Stock under stock plan — (1,433 ) — 4,415 — 2,982 Stock-based compensation expense — 2,506 — — — 2,506 Cash dividends on Common Stock Class A — $0.21 per share — — (10,473 ) — — (10,473 ) Class B — $0.21 per share — — (752 ) — — (752 ) Balances at April 30, 2019 $ 548 $ 330,051 $ 612,474 $ (50,083 ) $ (68,446 ) $ 824,544	The following table illustrates the changes in the balances of each component of stockholders' equity for the three months ended April 30, 2018 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at January 31, 2018 $ 548 $ 325,733 $ 515,872 $ (75,090 ) $ (35,090 ) $ 731,973 Net income — — 26,000 — — 26,000 Other comprehensive loss, net of tax — — — — (13,056 ) (13,056 ) Issuance of shares of Class A Common Stock under stock plan — (16 ) — 77 — 61 Stock-based compensation expense — 1,684 — — — 1,684 Purchase of shares of Class A Common Stock — — — (1,278 ) — (1,278 ) Cash dividends on Common Stock Class A — $0.21 per share — — (10,003 ) — — (10,003 ) Class B — $0.21 per share — — (734 ) — — (734 ) Balances at April 30, 2018 $ 548 $ 327,401 $ 531,135 $ (76,291 ) $ (48,146 ) $ 734,647	The following table illustrates the changes in the balances of each component of stockholders' equity for the nine months ended April 30, 2019 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at July 31, 2018 $ 548 $ 325,631 $ 553,454 $ (71,120 ) $ (56,401 ) $ 752,112 Net income — — 94,645 — — 94,645 Other comprehensive loss, net of tax — — — — (12,045 ) (12,045 ) Issuance of shares of Class A Common Stock under stock plan — (6,100 ) — 24,219 — 18,119 Tax benefit and withholdings from deferred compensation distributions — 209 — — — 209 Stock-based compensation expense — 10,311 — — — 10,311 Purchase of shares of Class A Common Stock — — — (3,182 ) — (3,182 ) Cumulative adjustment for ASU 2014-09, net of tax (Note B) — — (2,137 ) — — (2,137 ) Cash dividends on Common Stock Class A — $0.64 per share — — (31,291 ) — — (31,291 ) Class B — $0.62 per share — — (2,197 ) — — (2,197 ) Balances at April 30, 2019 $ 548 $ 330,051 $ 612,474 $ (50,083 ) $ (68,446 ) $ 824,544	The following table illustrates the changes in the balances of each component of stockholders' equity for the nine months ended April 30, 2018 : Common Additional Retained Earnings Treasury Accumulated Total Stockholders' Equity Balances at July 31, 2017 $ 548 $ 322,608 $ 507,136 $ (85,470 ) $ (44,682 ) $ 700,140 Net income — — 56,109 — — 56,109 Other comprehensive loss, net of tax — — — — (3,464 ) (3,464 ) Issuance of shares of Class A Common Stock under stock plan — (3,001 ) — 10,879 — 7,878 Tax benefit and withholdings from deferred compensation distributions — 213 — (422 ) — (209 ) Stock-based compensation expense — 7,581 — — — 7,581 Purchase of shares of Class A Common Stock — — — (1,278 ) — (1,278 ) Cash dividends on Common Stock Class A — $0.62 per share — — (29,970 ) — — (29,970 ) Class B — $0.60 per share — — (2,140 ) — — (2,140 ) Balances at January 31, 2018 $ 548 $ 327,401 $ 531,135 $ (76,291 ) $ (48,146 ) $ 734,647

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2019
Text Block [Abstract]
Financial Assets and Liabilities Accounted for at Fair Value on a Recurring Basis	Inputs Considered As Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Fair Values Balance Sheet Classifications April 30, 2019 Trading securities $ 15,890 $ — $ 15,890 Other assets Foreign exchange contracts — 532 532 Prepaid expenses and other current assets Total Assets $ 15,890 $ 532 $ 16,422 Foreign exchange contracts $ — $ 10 $ 10 Other current liabilities Total Liabilities $ — $ 10 $ 10 July 31, 2018 Trading securities $ 14,383 $ — $ 14,383 Other assets Foreign exchange contracts — 1,077 1,077 Prepaid expenses and other current assets Total Assets $ 14,383 $ 1,077 $ 15,460 Foreign exchange contracts $ — $ 3 $ 3 Other current liabilities Total Liabilities $ — $ 3 $ 3

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Apr. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Values of Derivative Instruments in Consolidated Balance Sheets	Fair values of derivative instruments in the condensed consolidated balance sheets were as follows: Asset Derivatives Liability Derivatives April 30, 2019 July 31, 2018 April 30, 2019 July 31, 2018 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Cash flow hedges Foreign exchange contracts Prepaid expenses and other current assets $ 528 Prepaid expenses and other current assets $ 1,076 Other current liabilities $ — Other current liabilities $ — Net investment hedges Foreign currency denominated debt Prepaid expenses and other current assets — Prepaid expenses and other current assets — Long term obligations 50,332 Long term obligations 52,668 Total derivatives designated as hedging instruments $ 528 $ 1,076 $ 50,332 $ 52,668 Derivatives not designated as hedging instruments Foreign exchange contracts Prepaid expenses and other current assets $ 4 Prepaid expenses and other current assets $ 1 Other current liabilities $ 10 Other current liabilities $ 3 Total derivatives not designated as hedging instruments $ 4 $ 1 $ 10 $ 3

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2019	Apr. 30, 2019	Aug. 01, 2018
Revenue Recognition [Abstract]
Contract with Customer, Liability	$ 2,791	$ 2,791	$ 2,796
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation		Of this amount, the Company expects to recognize 48% by the end of fiscal 2020, an additional 25% by the end of fiscal 2021, and the balance thereafter.
Deferred Revenue, Revenue Recognized	$ 315	$ 937

Additional Balance Sheet Info_3

Additional Balance Sheet Information (Details) - USD ($) $ in Thousands	Apr. 30, 2019	Jul. 31, 2018
Inventory [Line Items]
Finished products	$ 76,117	$ 73,133
Work-in-process	22,240	19,903
Raw materials and supplies	21,538	20,035
Total inventories	$ 119,895	$ 113,071

Additional Balance Sheet Info_4

Additional Balance Sheet Information Accumulated Depreciation (Details) - USD ($) $ in Thousands	Apr. 30, 2019	Jul. 31, 2018
Accumulated depreciation [Abstract]
Accumulated Depreciation	$ 274,476	$ 280,778

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Other Intangibles Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018	Jul. 31, 2018
Other Intangible Assets [Line Items]
Gross Carrying Amount	$ 71,622		$ 71,622		$ 81,460
Accumulated Amortization	(33,487)		(33,487)		(38,872)
Net Book Value	38,135		38,135		$ 42,588
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization of Intangible Assets	1,443	$ 1,620	4,314	$ 4,930
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	5,708		5,708
Finite-Lived Intangible Assets, Amortization Expense, Year Two	5,183		5,183
Finite-Lived Intangible Assets, Amortization Expense, Year Three	5,144		5,144
Finite-Lived Intangible Assets, Amortization Expense, Year Four	5,002		5,002
Finite-Lived Intangible Assets, Amortization Expense, Year Five	2,025		$ 2,025
Customer relationships and other
Other Intangible Assets [Line Items]
Weighted Average Amortization Period			8 years		9 years
Gross Carrying Amount	52,203		$ 52,203		$ 61,944
Accumulated Amortization	(33,487)		(33,487)		(38,872)
Net Book Value	18,716		18,716		23,072
Trademarks
Other Intangible Assets [Line Items]
Gross Carrying Amount	19,419		19,419		19,516
Accumulated Amortization	0		0		0
Net Book Value	$ 19,419		$ 19,419		$ 19,516

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (56,401)	$ (44,682)
Other comprehensive loss (income) before reclassification	(11,188)	(3,340)
Amounts reclassified from accumulated other comprehensive loss	857	(124)
Ending balance	(68,446)	(48,146)
Unrealized gain on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	863	109
Other comprehensive loss (income) before reclassification	233	(124)
Amounts reclassified from accumulated other comprehensive loss	434	(310)
Ending balance	662	295
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(60,566)	(47,411)
Other comprehensive loss (income) before reclassification	(11,252)	(3,630)
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending balance	(71,818)	(51,041)
Unamortized gain on post-retirement plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	3,302	2,620
Other comprehensive loss (income) before reclassification	(169)	414
Amounts reclassified from accumulated other comprehensive loss	423	434
Ending balance	$ 2,710	$ 2,600

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss Schedule of Other Comprehensive Income (Loss), Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Other Comprehensive Income (Loss), Tax [Abstract]
Cash flow hedges	$ (38)	$ 262	$ 0	$ 379
Pension and other post-retirement benefits	0	0	0	(178)
Other income tax adjustments and currency translation	(386)	(718)	(610)	(81)
Income tax (expense) benefit related to items of other comprehensive income	$ (348)	$ (980)	$ (610)	$ (638)

Net Income per Common Share - R

Net Income per Common Share - Reconciliation of Numerator and Denominator of Basic and Diluted Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Earnings Per Share [Line Items]
Net income	$ 34,781	$ 26,000	$ 94,645	$ 56,109
Denominator for basic earnings per share for both Class A and Class B	52,766	51,747	52,499	51,628
Plus: Effect of dilutive stock options	714	982	716	982
Denominator for diluted earnings per share for both Class A and Class B	53,480	52,729	53,215	52,610
Class A nonvoting common stock
Earnings Per Share [Line Items]
Net earnings per share, basic	$ 0.66	$ 0.50	$ 1.80	$ 1.09
Net earnings per share, diluted	$ 0.65	$ 0.49	$ 1.78	$ 1.07
Class B voting common stock
Earnings Per Share [Line Items]
Preferential dividends	$ 0	$ 0	$ 815	$ 799
Preferential dividends on dilutive stock options	0	0	13	(16)
Numerator for basic and diluted earnings per Class B Voting Common Share	$ 34,781	$ 26,000	$ 93,817	$ 55,294
Net earnings per share, basic	$ 0.66	$ 0.50	$ 1.79	$ 1.07
Net earnings per share, diluted	$ 0.65	$ 0.49	$ 1.76	$ 1.05

Net Income per Common Share - A

Net Income per Common Share - Additional Informations (Detail) - shares	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Class A nonvoting common stock
Earnings Per Share [Line Items]
Common stock of Class A shares excluded from computations of diluted net earnings per share	269,606	675,329	407,477	705,843

Segment Information Net Sales b

Segment Information Net Sales by Segment and Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Net Sales by Segment and Geographic Area
Net sales	$ 289,745	$ 298,421	$ 865,367	$ 876,352
Americas
Net Sales by Segment and Geographic Area
Net sales	169,335	167,851	502,532	494,018
Europe
Net Sales by Segment and Geographic Area
Net sales	87,356	96,094	258,910	277,510
Asia-Pacific
Net Sales by Segment and Geographic Area
Net sales	33,054	34,476	103,925	104,824
ID Solutions
Net Sales by Segment and Geographic Area
Net sales	213,979	212,154	641,283	628,291
ID Solutions | Americas
Net Sales by Segment and Geographic Area
Net sales	143,557	139,061	427,671	412,271
ID Solutions | Europe
Net Sales by Segment and Geographic Area
Net sales	48,984	51,248	145,094	147,623
ID Solutions | Asia-Pacific
Net Sales by Segment and Geographic Area
Net sales	21,438	21,845	68,518	68,397
Workplace Safety
Net Sales by Segment and Geographic Area
Net sales	75,766	86,267	224,084	248,061
Workplace Safety | Americas
Net Sales by Segment and Geographic Area
Net sales	25,778	28,790	74,861	81,747
Workplace Safety | Europe
Net Sales by Segment and Geographic Area
Net sales	38,372	44,846	113,816	129,887
Workplace Safety | Asia-Pacific
Net Sales by Segment and Geographic Area
Net sales	$ 11,616	$ 12,631	$ 35,407	$ 36,427

Segment Information Segment Pro

Segment Information Segment Profit (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Segment Profit
Segment profit	$ 45,991	$ 44,507	$ 135,612	$ 127,933
ID Solutions
Segment Profit
Segment profit	39,892	36,970	119,311	106,896
Workplace Safety
Segment Profit
Segment profit	$ 6,099	$ 7,537	$ 16,301	$ 21,037

Segment Information - Net Incom

Segment Information - Net Income Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit	$ 45,991	$ 44,507	$ 135,612	$ 127,933
Unallocated amounts:
Administrative costs	(6,370)	(6,798)	(19,339)	(20,017)
Investment and other income	2,065	31	3,425	1,303
Interest expense	(708)	(761)	(2,137)	(2,453)
Income before income taxes	$ 40,978	$ 36,979	$ 117,561	$ 106,766

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018	Aug. 01, 2018
Schedule Of Stockholders Equity [Line Items]
Beginning balance	$ 803,381	$ 731,973	$ 752,112	$ 700,140
Net income	34,781	26,000	94,645	56,109
Other comprehensive loss, net of tax	(7,881)	(13,056)	(12,045)	(3,464)
Issuance of shares of Class A Common Stock under stock plan			(18,119)	(7,878)
Tax benefit and withholdings from deferred compensation distributions			209
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation				(209)
Stock-based compensation expense			10,311	7,581
Purchase of shares of Class A Common Stock			(3,182)
Cumulative adjustment for ASU 2014-09, net of tax (Note B)					$ (2,137)
Cash dividends on Class A common stock			(31,291)	(29,970)
Cash dividends on Class B common stock			(2,197)	(2,140)
Ending balance	824,544	734,647	824,544	734,647
Common Stock
Schedule Of Stockholders Equity [Line Items]
Beginning balance	548	548	548	548
Ending balance	548	548	548	548
Additional Paid-in Capital
Schedule Of Stockholders Equity [Line Items]
Beginning balance	328,978	325,733	325,631	322,608
Issuance of shares of Class A Common Stock under stock plan			(6,100)	(3,001)
Tax benefit and withholdings from deferred compensation distributions			209	213
Stock-based compensation expense			10,311	7,581
Ending balance	330,051	327,401	330,051	327,401
Retained Earnings
Schedule Of Stockholders Equity [Line Items]
Beginning balance	588,918	515,872	553,454	507,136
Net income			94,645	56,109
Cumulative adjustment for ASU 2014-09, net of tax (Note B)					$ (2,137)
Cash dividends on Class A common stock			(31,291)	(29,970)
Cash dividends on Class B common stock			(2,197)	(2,140)
Ending balance	612,474	531,135	612,474	531,135
Treasury Stock
Schedule Of Stockholders Equity [Line Items]
Beginning balance	(54,498)	(75,090)	(71,120)	(85,470)
Issuance of shares of Class A Common Stock under stock plan			(24,219)	(10,879)
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation				(422)
Purchase of shares of Class A Common Stock		1,278	3,182	1,278
Ending balance	(50,083)	(76,291)	(50,083)	(76,291)
Accumulated Other Comprehensive Loss
Schedule Of Stockholders Equity [Line Items]
Beginning balance	(60,565)	(35,090)	(56,401)	(44,682)
Other comprehensive loss, net of tax			(12,045)	(3,464)
Ending balance	$ (68,446)	$ (48,146)	$ (68,446)	$ (48,146)

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Apr. 30, 2019	Jul. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 16,422	$ 15,460
Total Liabilities	10	3
Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	15,890	14,383
Prepaid expenses and other current assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Exchange Contracts	532	1,077
Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Exchange Contracts	10	3
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	15,890	14,383
Total Liabilities	0	0
Fair Value, Inputs, Level 1 [Member] | Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	15,890	14,383
Fair Value, Inputs, Level 1 [Member] | Prepaid expenses and other current assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Exchange Contracts	0	0
Fair Value, Inputs, Level 1 [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Exchange Contracts	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	532	1,077
Total Liabilities	10	3
Fair Value, Inputs, Level 2 [Member] | Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Fair Value, Inputs, Level 2 [Member] | Prepaid expenses and other current assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Exchange Contracts	532	1,077
Fair Value, Inputs, Level 2 [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Exchange Contracts	$ 10	$ 3

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 30, 2019	Jul. 31, 2018
Disclosure Fair Value Measurements Additional Information [Abstract]
Debt, Fair Value	$ 52,092	$ 55,707
Debt, Carrying Value	$ 50,303	$ 52,618

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Fair Values of Derivative Instruments in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Apr. 30, 2019	Jul. 31, 2018
Designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 528	$ 1,076
Liability Derivatives	50,332	52,668
Designated as hedging instruments [Member] | Unrealized gain on cash flow hedges | Foreign exchange contract [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	528	1,076
Designated as hedging instruments [Member] | Unrealized gain on cash flow hedges | Foreign exchange contract [Member] | Other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	0
Designated as hedging instruments [Member] | Net investment hedging [Member] | Foreign currency denominated debt [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	0
Designated as hedging instruments [Member] | Net investment hedging [Member] | Foreign currency denominated debt [Member] | Long term obligations less current maturities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	50,332	52,668
Not designated as hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	4	1
Liability Derivatives	10	3
Not designated as hedging Instruments [Member] | Foreign exchange contract [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	4	1
Not designated as hedging Instruments [Member] | Foreign exchange contract [Member] | Other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 10	$ 3

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Additional Information (Detail) $ in Thousands, £ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2019USD ($)	Apr. 30, 2018USD ($)	Apr. 30, 2019USD ($)	Apr. 30, 2018USD ($)	Jul. 31, 2018USD ($)	May 13, 2010GBP (£)
Derivatives, Fair Value [Line Items]
Derivative Maturities			18 months
Derivative, Notional Amount	$ 10,231		$ 10,231		$ 32,667
Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	815	$ 65	815	$ 65
Cash Flow Hedge Gain (Loss) Reclassified to Earnings	292	(264)	579	(446)
Total Outstanding Forward Foreign Exchange Contracts	6,823		6,823
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (6)	$ 9	$ (49)	$ 29
Senior Unsecured Notes [Member]
Derivatives, Fair Value [Line Items]
Derivative, Amount of Hedged Item | £						£ 45

Income Taxes Income Taxes (Deta

Income Taxes Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Income Taxes [Abstract]
Effective Income Tax Rate Reconciliation, Percent	15.10%	29.70%	19.50%	47.40%
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount				$ 21,060

Subsequent Events (Detail)

Subsequent Events (Detail)	May 21, 2019$ / shares
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend declared (USD per share)	$ 0.2125