v3.24.1.1.u2
Derivative Instruments (Tables)
 9 Months Ended
Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
As of April 30, 2024, the Company held the following interest rate swap agreement, which fixed the interest rate on the applicable notional amount of outstanding variable rate debt:
Notional amount
(in thousands)
Interest rateEffective dateExpiration date
$100,0003.735%January 4, 2023November 4, 2027
Schedule of Derivative Instruments
The total notional amounts of the Company’s derivative instruments outstanding are as follows:
(in thousands)April 30, 2024July 31, 2023
Interest rate swap contract$100,000 $100,000 
Foreign currency forward contracts— 5,610 
Total derivative instruments not designated as hedging instruments$100,000 $105,610 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The estimated fair value and classification of derivative instruments on the Condensed Consolidated Statements of Financial Position for April 30, 2024 were as follows:
Derivative AssetsDerivative Liabilities
(in thousands)Balance Sheet ClassificationFair ValueBalance Sheet ClassificationFair Value
Interest rate swap contractOther assets$2,902 Other liabilities$— 
Foreign currency forward contract
Prepaid expenses and other current assets— Other current liabilities— 
Total derivatives not designated as hedging instruments$2,902 $— 
The estimated fair value and classification of derivative instruments on the Condensed Consolidated Statements of Financial Position for July 31, 2023 were as follows:
Derivative AssetsDerivative Liabilities
(in thousands)Balance Sheet ClassificationFair ValueBalance Sheet ClassificationFair Value
Interest rate swap contract
Other assets$1,117 Other liabilities$— 
Foreign currency forward contractsPrepaid expenses and other current assets69 Other current liabilities— 
Total derivatives not designated as hedging instruments$1,186 $— 
Schedule of Derivative Instruments, Gains and Losses in the Condensed Consolidated Statements of Operations
The amounts and classification of the gains and losses in the Condensed Consolidated Statements of Operations related to derivative instruments not designated as hedging instruments are as follows:
Three months ended April 30,Nine months ended April 30,
(in thousands)Classification2024202320242023
Interest rate swap contract
Other (income) expense, net$(2,975)$900 $(1,786)$3,273 
Foreign currency forward contractsOther (income) expense, net— (18)69 (330)
Total (gain) loss
$(2,975)$882 $(1,717)$2,943