Accumulated other comprehensive income
 9 Months Ended
Apr. 30, 2017
Equity [Abstract]  
Accumulated other comprehensive income

9. Accumulated other comprehensive income

Components of comprehensive (loss) income include net income and certain transactions that have generally been reported in the Consolidated Statements of Changes in Stockholders’ Equity. Other comprehensive (loss) income consists of reported foreign currency translation gains and losses (net of taxes), actuarial gains and losses on pension plan assets (net of taxes), and changes in the unrealized value on foreign currency forward contracts (net of taxes). Deferred taxes are not provided on cumulative translation adjustments where we expect earnings of a foreign subsidiary to be indefinitely reinvested. The income tax effect of currency translation adjustments related to foreign subsidiaries that are not considered indefinitely reinvested is recorded as a component of deferred taxes with an offset to other comprehensive (loss) income.

The following table summarizes components of Accumulated other comprehensive (loss) income for the nine months ended April 30, 2017:

 

(in millions)

 

Unrealized

Gain

on Foreign

Currency

Forward

Contracts

 

 

Unrealized

Losses on

Pension Plan

 

 

Currency

Translation

Adjustment

 

 

Accumulated

Other

Comprehensive

Income

 

Balance as of July 31, 2016

 

$

(0.2

)

 

$

(4.9

)

 

$

(3.4

)

 

$

(8.5

)

Pre-tax change before reclassification to earnings

 

 

-

 

 

 

0.2

 

 

 

(2.3

)

 

 

(2.1

)

Amount reclassified to earnings

 

 

(0.2

)

 

 

-

 

 

 

-

 

 

 

(0.2

)

Income tax benefit (provision)

 

 

0.1

 

 

 

-

 

 

 

(0.2

)

 

 

(0.1

)

Balance as of April 30, 2017

 

$

(0.3

)

 

$

(4.7

)

 

$

(5.9

)

 

$

(10.9

)

 

The ineffective portion of the unrealized losses on foreign currency forward contracts and unrealized gains or losses on currency translation adjustment are included in other expense, net on our Consolidated Statements of Operations.