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Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Jul. 31, 2014	Sep. 30, 2014	Jan. 31, 2014
Entity Information [Line Items]
Entity Registrant Name	OIL DRI CORP OF AMERICA
Entity Central Index Key	0000074046
Current Fiscal Year End Date	--07-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Jul. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 167,618,000
Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		5,001,742
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,069,994

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Current Assets
Cash and cash equivalents	$ 16,230	$ 24,035
Restricted Cash	129	0
Short-term investments	2,640	18,459
Accounts receivable, less allowance of $707 and $641 in 2014 and 2013, respectively	30,997	31,148
Inventories	24,483	20,723
Deferred income taxes	1,570	3,986
Prepaid repairs expense	3,722	3,458
Prepaid expenses and other assets	3,745	1,563
Total Current Assets	83,516	103,372
Property, Plant and Equipment
Buildings and leasehold improvements	28,557	28,475
Machinery and equipment	120,081	112,056
Office furniture and equipment	10,244	9,880
Vehicles	12,099	11,615
Gross depreciable assets	170,981	162,026
Less accumulated depreciation and amortization	(124,199)	(118,082)
Net depreciable assets	46,782	43,944
Construction in progress	11,759	5,845
Land and mineral rights	16,355	16,266
Total Property, Plant and Equipment, Net	74,896	66,055
Other Assets
Goodwill	9,034	5,162
Trademarks and patents, net of accumulated amortization of $420 and $427 in 2014 and 2013, respectively	660	581
Debt issuance costs, net of accumulated amortization of $522 and $455 in 2014 and 2013, respectively	243	309
Licensing agreements and non-compete agreements, net of accumulated amortization of $1,145 and $1,861 in 2014 and 2013, respectively	155	378
Customer list, net of accumulated amortization of $764 in 2014	7,020	0
Deferred income taxes	4,448	2,164
Other	6,232	5,538
Total Other Assets	27,792	14,132
Total Assets	186,204	183,559
Current Liabilities
Current maturities of notes payable	3,500	3,500
Accounts payable	7,352	6,483
Dividends payable	1,311	1,236
Accrued expenses
Salaries, wages and commissions	4,448	9,087
Trade promotions and advertising	2,182	2,824
Freight	2,504	2,154
Other	8,203	6,163
Total Current Liabilities	29,500	31,447
Noncurrent Liabilities
Notes payable	18,900	22,400
Deferred compensation	9,267	8,569
Pension and postretirement benefits	22,273	16,362
Other	1,956	1,843
Total Noncurrent Liabilities	52,396	49,174
Total Liabilities	81,896	80,621
Stockholders’ Equity
Additional paid-in capital	33,130	31,317
Restricted unearned stock compensation	(2,225)	(1,824)
Retained earnings	136,039	132,750
Accumulated Other Comprehensive Income
Unrealized gain on marketable securities	114	86
Pension and postretirement benefits	(8,632)	(5,608)
Cumulative translation adjustment	255	487
Total Accumulated Other Comprehensive Income	(8,263)	(5,035)
Less Treasury Stock, at cost (2,915,651 Common and 324,741 Class B shares in 2014 and 2,914,567 Common and 324,741 Class B shares in 2013)	(55,404)	(55,296)
Total Stockholders’ Equity	104,308	102,938
Total Liabilities and Stockholders’ Equity	186,204	183,559
Common Stock
Stockholders’ Equity
Common Stock, par value $.10	792	787
Common Class B
Stockholders’ Equity
Common Stock, par value $.10	$ 239	$ 239

Condensed Consolidated Balance Sheet Parentheticals (Parentheticals) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Allowance for doubtful accounts	$ 707	$ 641
Trademarks and patents accumulated amortization	420	427
Debt issuance costs accumulated amortization	522	455
Licensing agreements and non-compete agreements accumulated amortization	1,145	1,861
Customer list accumulated amortization	$ 764	$ 0
Common Stock, par value per share	$ 0.10	$ 0.10
Common Stock
Common Stock, par value per share	$ 0.10	$ 0.10
Common Stock, shares issued	7,917,393	7,866,560
Treasury Stock, shares	2,915,651	2,914,567
Common Class B
Common Stock, par value per share	$ 0.10	$ 0.10
Common Stock, shares issued	2,394,735	2,394,487
Treasury Stock, shares	324,741	324,741

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Net Sales	$ 266,313	$ 250,583	$ 240,681
Cost of Sales	(206,663)	(184,084)	(181,676)
Gross Profit	59,650	66,499	59,005
Selling, General and Administrative Expenses	(47,232)	(47,558)	(47,303)
Capacity Rationalization Charges	0	(70)	(1,623)
Income from Operations	12,418	18,871	10,079
Other Income (Expense)
Interest income	23	34	31
Interest expense	(1,569)	(1,773)	(2,060)
Foreign exchange loss	35	(56)	(196)
Other, net	430	423	507
Total Other Expense, Net	(1,081)	(1,372)	(1,718)
Income Before Income Taxes	11,337	17,499	8,361
Income Taxes	(2,981)	(2,913)	(2,263)
Net Income	$ 8,356	$ 14,586	$ 6,098
Net Income Per Share
Diluted	$ 1.17	$ 2.07	$ 0.85
Average Shares Outstanding
Diluted (in shares)	7,004	6,927	7,062
Basic Common
Net Income Per Share
Basic	$ 1.27	$ 2.25	$ 0.92
Average Shares Outstanding
Basic (in shares)	4,981	4,909	5,063
Basic Class B Common
Net Income Per Share
Basic	$ 0.96	$ 1.69	$ 0.70
Average Shares Outstanding
Basic (in shares)	2,001	1,970	1,934

Consolidate Statements of Comprehensive Income Statement - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Net Income	$ 8,356	$ 14,586	$ 6,098
Unrealized gain on marketable securities	28	14	1
Pension and postretirement benefits (net of tax)	(3,024)	5,983	(6,276)
Cumulative translation adjustment	(232)	(86)	(226)
Other Comprehensive (Loss) Income	(3,228)	5,911	(6,501)
Comprehensive Income (Loss)	$ 5,128	$ 20,497	$ (403)

Consolidated Statements of Stockholders Equity Statement - USD ($) $ in Thousands	Total	Common & Class B Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Restricted Unearned Stock Compensation	Accumulated Other Comprehensive Income (Loss)
Total, Beginning of Period at Jul. 31, 2011	$ 95,298	$ 1,012	$ (49,424)	$ 29,213	$ 121,388	$ (2,446)	$ (4,445)
Common & Class B Stock, Beginning of Period (in shares) at Jul. 31, 2011		10,123,183
Treasury Stock, Beginning of Period (in shares) at Jul. 31, 2011			(2,967,128)
Net Income	6,098	$ 0	$ 0	0	6,098	0	0
Other Comprehensive (Loss) Income	(6,501)	0	0	0	0	0	(6,501)
Dividends Declared	(4,511)	0	0	0	(4,511)	0	0
Purchases of Treasury Stock	(6,247)	0	$ (6,247)	0	0	0	0
Purchases of Treasury Stock (in shares)			(296,427)
Net Issuance of Stock Under Long-Term Incentive Plans	353	$ 4	$ 463	448	(74)	(488)	0
Net Issuance of Stock Under Long-Term Incentive Plans (in shares)		37,917	27,250
Share-based Compensation	98	$ 0	$ 0	98	0	0	0
Amortization of Restricted Stock	720	0	0	0	0	720	0
Total, End of Period at Jul. 31, 2012	85,308	$ 1,016	$ (55,208)	29,759	122,901	(2,214)	(10,946)
Common & Class B Stock, End of Period (in shares) at Jul. 31, 2012		10,161,100
Treasury Stock, End of Period (in shares) at Jul. 31, 2012			(3,236,305)
Net Income	14,586	$ 0	$ 0	0	14,586	0	0
Other Comprehensive (Loss) Income	5,911	0	0	0	0	0	5,911
Dividends Declared	(4,712)	0	0	0	(4,712)	0	0
Purchases of Treasury Stock	(175)	0	$ (175)	0	0	0	0
Purchases of Treasury Stock (in shares)			(8,253)
Net Issuance of Stock Under Long-Term Incentive Plans	887	$ 10	$ 87	1,289	(25)	(474)	0
Net Issuance of Stock Under Long-Term Incentive Plans (in shares)		99,947	5,250
Share-based Compensation	269	$ 0	$ 0	269	0	0	0
Amortization of Restricted Stock	864	0	0	0	0	864	0
Total, End of Period at Jul. 31, 2013	102,938	$ 1,026	$ (55,296)	31,317	132,750	(1,824)	(5,035)
Common & Class B Stock, End of Period (in shares) at Jul. 31, 2013		10,261,047
Treasury Stock, End of Period (in shares) at Jul. 31, 2013			(3,239,308)
Net Income	8,356	$ 0	$ 0	0	8,356	0	0
Other Comprehensive (Loss) Income	(3,228)	0	0	0	0	0	(3,228)
Dividends Declared	(5,040)	0	0	0	(5,040)	0	0
Purchases of Treasury Stock	(87)	0	$ (87)	0	0	0	0
Purchases of Treasury Stock (in shares)			(2,584)
Net Issuance of Stock Under Long-Term Incentive Plans	94	$ 5	$ (21)	1,727	(27)	(1,590)	0
Net Issuance of Stock Under Long-Term Incentive Plans (in shares)		51,081	1,500
Share-based Compensation	86	$ 0	$ 0	86	0	0	0
Amortization of Restricted Stock	1,189	0	0	0	0	1,189	0
Total, End of Period at Jul. 31, 2014	$ 104,308	$ 1,031	$ (55,404)	$ 33,130	$ 136,039	$ (2,225)	$ (8,263)
Common & Class B Stock, End of Period (in shares) at Jul. 31, 2014		10,312,128
Treasury Stock, End of Period (in shares) at Jul. 31, 2014			(3,240,392)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Cash Flows from Operating Activities
Net Income	$ 8,356	$ 14,586	$ 6,098
Adjustments to reconcile net income to net cash provided by operating activites:
Depreciation and amortization	10,396	8,946	9,272
Amortization of investment (discounts) premiums	(2)	(7)	15
Non-cash stock compensation expense	1,189	864	727
Excess tax benefits for share-based payments	(86)	(268)	(92)
Deferred income taxes	284	(398)	(2,568)
Provision for bad debts	69	64	32
Loss on the sale of property, plant and equipment	452	8	445
Capacity rationalization charges	0	70	1,623
(Increase) decrease in:
Accounts receivable	82	(984)	(1,026)
Inventories	(2,966)	(1,050)	(456)
Prepaid expenses	(1,988)	1,416	1,878
Other assets	(817)	(1,025)	(510)
Increase (decrease) in:
Accounts payable	187	135	456
Accrued expenses	(2,586)	2,159	1,622
Deferred compensation	698	452	921
Pension and postretirement benefits	2,887	(1,896)	4,730
Other liabilities	141	294	172
Total Adjustments	7,940	8,780	17,241
Net Cash Provided by Operating Activities	16,296	23,366	23,339
Cash Flows from Investing Activities
Capital expenditures	(18,566)	(9,795)	(6,960)
Proceeds from sale of property, plant and equipment	180	66	31
Acquisition of business	(12,876)	0	0
Restricted cash	(129)	0	0
Purchases of short-term investments	(10,391)	(34,439)	(17,601)
Dispositions of short-term investments	26,212	25,150	24,260
Net Cash Used in Investing Activities	(15,570)	(19,018)	(270)
Cash Flows from Financing Activities
Principal payments on notes payable	(3,500)	(3,800)	(3,600)
Dividends paid	(4,965)	(4,630)	(4,486)
Purchase of treasury stock	(87)	(175)	(6,247)
Proceeds from issuance of treasury stock	82	82	31
Proceeds from issuance of common stock	12	805	321
Excess tax benefits for share-based payments	86	268	92
Net Cash Used in Financing Activities	(8,372)	(7,450)	(13,889)
Effect of exchange rate changes on cash and cash equivalents	(159)	44	28
Net (Decrease) Increase in Cash and Cash Equivalents	(7,805)	(3,058)	9,208
Cash and Cash Equivalents, Beginning of Year	24,035	27,093	17,885
Cash and Cash Equivalents, End of Year	$ 16,230	$ 24,035	$ 27,093

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NATURE OF OPERATIONS

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 enterosorbents used in animal feed. Our adsorbent products include synthetic sorbents, which are used for industrial cleanup, and bleaching clay products, which are used for filtration of edible oils and for purification aid of petroleum-based oils.

PRINCIPLES OF CONSOLIDATION

The Consolidated Financial Statements include the accounts of Oil-Dri Corporation of America and its subsidiaries, all of which are wholly-owned. All significant intercompany balances and transactions have been eliminated from the Consolidated Financial Statements.

MANAGEMENT USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

Cash equivalents are highly liquid investments with maturities of three months or less when purchased.

SHORT-TERM INVESTMENTS

The composition of short-term investments was as follows as of July 31 (in thousands):



	2014		2013
U.S. Treasury Securities	$	—	$	8,999
Certificates of Deposit	2,640		9,460
Short-Term Investments	$	2,640	$	18,459

We intend and have the ability to hold these investments to maturity; therefore, these investments are reported at amortized cost on the Consolidated Balance Sheets.

TRADE RECEIVABLES

We recognize trade receivables when the risk of loss and title pass to the customer. We record an allowance for doubtful accounts based on our historical experience and a periodic review of our accounts receivable, including a review of the overall aging of accounts and analysis of specific accounts. A customer account is determined to be uncollectible when 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

We value inventories at the lower of cost (first-in, first-out) or market. We recorded inventory obsolescence reserves of approximately $390,000 and $364,000 as of July 31, 2014 and 2013, respectively. The composition of inventories was as follows as of July 31 (in thousands):



	2014		2013
Finished goods	$	14,326	$	12,112
Packaging	5,402		4,003
Other	4,755		4,608
Inventories	$	24,483	$	20,723

TRANSLATION OF FOREIGN CURRENCIES

Assets and liabilities of foreign subsidiaries, where the local currency is the functional currency, are translated 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.

INTANGIBLE ASSETS AND GOODWILL

We amortize most of our intangible assets on a straight-line basis over periods ranging from seven to 17 years. Our customer list intangible asset, related to the acquisition of certain assets of MFM, 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 $1,107,000 in fiscal 2014 and $343,000 in fiscal 2013. We have some intangible assets that were determined to have indefinite lives and are not amortized, specifically one acquired trademark recorded at $376,000.

Our estimated intangible amortization expense for the next five fiscal years is as follows (in thousands):



2015	$	1,581
2016	$	1,443
2017	$	1,188
2018	$	979
2019	$	792

The weighted average amortization period of our intangible assets subject to amortization is as follows (in years):



	Weighted Average Amortization Period
Trademarks and patents	4.5
Debt issuance costs	5.0
Licensing agreements and noncompete agreements	0.8
Customer list	9.3
Total intangible assets subject to amortization	8.9

We periodically review indefinite-lived intangibles and goodwill to assess for impairment. Our review is based on cash flow considerations and other approaches that require significant judgment with respect to volume, revenue and expenses. Impairment occurs when the carrying value exceeds the fair value. Our impairment analysis is generally performed in the first quarter of the fiscal year and when indicators such as unexpected adverse economic factors, unanticipated technological changes, competitive activities and acts by governments and courts indicate that an asset may become impaired.

During fiscal 2014 a total of $3,872,000 was added to goodwill related to the MFM acquisition. See Note 3 of the Notes to the Consolidated Financial Statements for further information.

OVERBURDEN REMOVAL AND MINING COSTS

We mine sorbent materials on property that we either own or lease as part of our overall operations. A significant part of our overall mining cost is incurred during the process of removing the overburden from the mine site, thus exposing the sorbent material used in a majority of our production processes. These stripping costs are treated as a variable inventory production cost and are included in cost of sales in the period they are incurred. Stripping costs included in cost of sales were approximately $4,179,000, $2,187,000, and $2,031,000 for the fiscal years ended July 31, 2014, 2013 and 2012, respectively. The increase in stripping costs in fiscal 2014 reflect increased tons mined and extraction of clay reserves that required more overburden removal. We defer and amortize the pre-production overburden removal costs associated with opening a new mine. No pre-production overburden removal costs were deferred in the last two fiscal years.

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. The amount of land and mineral rights included in land on the Consolidated Balance Sheets were approximately $13,348,000 and $2,165,000, respectively, as of July 31, 2014 and $13,000,000 and $2,165,000, respectively, as of July 31, 2013. Pre-production development costs on new mines and any prepaid royalties that may be offset against future royalties due upon extraction of the mineral are also capitalized. Prepaid royalties included in prepaid expenses and other assets on the Consolidated Balance Sheets were approximately $1,052,000 and $1,059,000 as of July 31, 2014 and 2013, respectively. No capitalized pre-production development costs were recorded in the last two fiscal years. All exploration related costs are expensed as incurred.

RECLAMATION

We perform ongoing reclamation activities during the normal course of our overburden removal. As overburden is removed from a mine site, it is hauled to previously mined sites and is used to refill older sites. This process allows us to continuously reclaim older mine sites and dispose of overburden simultaneously, therefore minimizing the costs associated with the reclamation process.

On an annual basis we evaluate our potential reclamation liability in accordance with ASC 410, Asset Retirement and Environmental Obligations. The reclamation assets are depreciated over the estimated useful lives of the various mines. The reclamation liabilities are increased based on a yearly accretion charge over the estimated useful lives of the mines.

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are generally depreciated using the straight-line method over their estimated useful lives which are listed below. 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.



	Years
Buildings and leasehold improvements	3	-	39
Machinery and equipment
Packaging	2	-	20
Processing	2	-	25
Mining and Other	3	-	15
Office furniture, computers and equipment	2	-	12
Vehicles	3	-	15

Depreciation expense was $9,289,000 and $8,603,000 for fiscal 2014 and 2013, respectively.

Property, plant and equipment are reviewed for possible impairment on an annual basis. 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.

TRADE PROMOTIONS

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 with trade spending patterns and that of the industry, current trends and forecast data.

ADVERTISING

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 $8,886,000, $7,975,000, and $10,846,000 for the years ended July 31, 2014, 2013 and 2012, respectively. Advertising expenses were higher in fiscal 2012 for our Cat's Pride Fresh & Light products, which were introduced in the fourth quarter of fiscal 2011.

FAIR VALUE OF FINANCIAL INSTRUMENTS

Non-derivative financial instruments included in the Consolidated Balance Sheets are cash and cash equivalents, short-term investments, cash surrender value of life insurance policies and notes payable. These instruments, except for notes payable, were carried at amounts approximating fair value as of July 31, 2014 and 2013. The short-term investments included certificates of deposits and, as of July 31, 2013, also included U.S. Treasury securities. We intend and have the ability to hold our short-term investments to maturity; therefore, these investments were reported at amortized cost, which was approximately equal to fair value. See Note 6 of the Notes to the Consolidated Financial Statements for additional information regarding the fair value of notes payable, as well as assets and liabilities recorded at fair value.

REVENUE RECOGNITION

We recognize revenue when risk of loss and title are transferred under the terms of our sales agreements with customers at a fixed and determinable price and collection of payment is probable. Taxes collected from customers and remitted to governmental authorities are excluded from net sales. Sales returns and allowances are not material.

COST OF SALES

Cost of sales 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.

SHIPPING AND HANDLING COSTS

Shipping and handling costs are included in cost of sales and were approximately $49,456,000, $45,002,000 and $42,095,000 for the fiscal years ended July 31, 2014, 2013 and 2012, respectively.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

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

Research and development costs of approximately $2,587,000, $2,620,000 and $2,006,000 were charged to expense as incurred for the fiscal years ended July 31, 2014, 2013 and 2012, respectively.

PENSION AND POSTRETIREMENT BENEFIT COSTS

We provide a defined benefit pension plan for eligible salaried and hourly employees and we make 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. See Note 10 of the Notes to the Consolidated Financial Statements for additional information.

STOCK-BASED COMPENSATION

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. See Note 9 of the Notes to the Consolidated Financial Statements for additional information.

INCOME 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 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 (benefit) 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 7 of the Notes to the Consolidated Financial Statements for additional information about income taxes.

NEW ACCOUNTING PRONOUNCEMENTS

Recently Adopted Accounting Standards

In the first quarter of fiscal 2014 we adopted new guidance from the FASB issued under ASC 220, Comprehensive Income-Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The guidance required presentation by the respective net income line items, either on the face of the statement where net income is presented or in the notes, of information about significant amounts required to be reclassified out of AOCI. We elected to present the reclassifications in the notes to the financial statements. See Note 8 of the Notes to the Consolidated Financial Statements for additional information regarding amounts reclassified from AOCI.

In the first quarter of fiscal 2014 we considered the FASB guidance issued under ASC 350, Testing Indefinite-Lived Intangible Assets for Impairment, which provides the option to first assess qualitative factors to determine if the annual two-step test for impairment must be performed. We did not elect to perform a qualitative assessment and continued to perform a quantitative analysis to measure potential indefinite-lived intangible asset impairment. There was no impact on our Consolidated Financial Statements as a result of this new guidance.

Recently Issued Accounting Standards and Regulations

In September 2013, the IRS released final repair regulations under Sections 162(a) and 263(a) of the Internal Revenue Code, regarding the deduction and capitalization of amounts paid to acquire, produce, or improve tangible property. The repair regulations provide guidance on the timing of deduction for tangible property and repairs. The final regulations replace temporary regulations that were issued in March 2011 and are effective for our tax year beginning August 1, 2014, with early adoption permitted for tax years beginning January 1, 2012. We do not believe these regulations will have a material impact on our Consolidated Financial Statements.

In May 2014, the FASB issued guidance under ASC 250, Revenue from Contract with Customers, which establishes a single comprehensive revenue recognition model for all contracts with customers and will supersede most existing revenue guidance. This guidance requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange. Transition options include either a full or modified retrospective approach and early adoption is not permitted. This guidance will be effective at the beginning of our first quarter of fiscal 2017. We are currently evaluating the impact of the adoption of these requirement on our Consolidated Financial Statements.

In August 2014, the FASB issued guidance under ASC 205, Presentation of Financial Statements - Going Concern, which defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. This guidance will be effective for our fiscal year ended July 31, 2017. We are currently evaluating the impact of the adoption of these requirement on our Consolidated Financial Statements.

SPECIAL CHARGES

12 Months Ended

Jul. 31, 2014

SPECIAL CHARGES [Abstract]

Capacity Rationalization Charges

SPECIAL CHARGES

Capacity Rationalization Charges

In fiscal 2012 we announced the planned relocation of production of our industrial floor absorbent and cat litter products from our facility located in Mounds, Illinois, to our plants located in Mississippi. This decision was made due to the continued decline in the coarse cat litter market and after a comprehensive evaluation of our manufacturing operations and cost structure, including state regulatory requirements. During fiscal 2012 we incurred a pre-tax asset write-off of $1,187,000 and severance and other employee-related costs of $436,000. During fiscal 2013 we recorded pre-tax employee-related costs of $70,000 (net of an adjustment to reduce the reserve estimate), which concluded our expenditures and eliminated our reserve related to this production relocation. These costs are shown as “Capacity Rationalization Charges” on the Consolidated Statements of Operations in fiscal years 2013 and 2012. Allocation of these expenses between operating segments is impracticable due to the shared nature of our production facilities.

The table below shows a rollforward of the reserve included in Other Accrued Expenses on the Consolidated Balance Sheets as of July 31, 2013.



	Severance and other employee related costs
Reserve balance at July 31, 2012	$	413
Charges against reserve	(403		)
Reserve adjustment	(10		)
Reserve balance at July 31, 2013	$	—

ACQUISITION (Notes)

12 Months Ended

Jul. 31, 2014

Acquisition [Abstract]

Business Combination Disclosure [Text Block]

ACQUISITION

On November 1, 2013, we acquired certain assets of MFM, a company engaged in the manufacturing, marketing and distribution of primarily private label cat litter. MFM and its parent company, MFM Delaware, Inc., had filed for bankruptcy in May 2013. The purchase of MFM’s cat litter business assets was a strategic business decision intended to expand our private label cat litter business. We did not acquire any land or mineral rights nor did we operate the MFM plant. MFM’s customers’ orders were transitioned to our existing cat litter manufacturing plants which had available capacity and were producing similar cat litter products.

This transaction qualifies as a business combination for accounting purposes, therefore the assets acquired were recorded at their respective estimated fair values at the date of acquisition. The excess of the purchase price over those fair values was recorded as goodwill. The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed at the acquisition date.



	Estimated Fair Value as of November 1, 2013
	(in thousands)
Consideration transferred:
Cash	$	12,505
Contingent Consideration - Escrow	500
Contingent Consideration - Proceeds on land sale	(255		)
Fair value of total consideration transferred	12,750

Recognized amounts of identifiable assets acquired:
Inventories	664
Current assets	130
Equipment	300
Customer list	7,784
Total identifiable assets	8,878

Goodwill	$	3,872

Contingent consideration we may owe represents our maximum obligation for expenses to be incurred to prepare and sell the real property retained by MFM. We deposited this amount in an escrow account and we expect the full escrow amount to be spent within a year. As of July 31, 2014, the remaining balance in escrow was $129,000. The cash held in escrow is shown as restricted cash and the corresponding liability is included in current liabilities on the Consolidated Balance Sheets.

We may receive monies back from MFM contingent on the sale of the real property retained by MFM. The MFM purchase agreement provides that we will receive half of the proceeds upon the sale. Although an independent appraisal was performed to determine the fair value of the real property as of the acquisition date, MFM subsequently entered into an agreement with a third party to sell the land at an amount substantially less than fair value in order to resolve its bankruptcy proceedings. Although that sale was not completed as of July 31 2014, we expect the ultimate selling price to be significantly less than fair value and we have estimated the contingent consideration we may receive based on MFM's agreed upon selling price to the third party. This contingent receivable is included in current assets on the Consolidated Balance Sheets.

Inventories acquired included finished goods, packaging supplies and raw materials. The inventory fair value was determined using the comparative sales method approach.

Current assets on the Consolidated Balance Sheets included a prepaid asset for MFM deposits held by packaging suppliers to which we are entitled as of November 1, 2013.

Various machinery and equipment purchased was valued primarily using a market valuation approach; however, a cost approach was used for certain equipment for which appropriate market comparisons were not available.

We acquired a customer list which was recorded as an intangible asset at fair value using an income valuation approach. The valuation process estimated the present value of the anticipated benefits in excess of the returns on the contributory assets required to realize those benefits. The value of the customer list will be amortized over a period of 10 years with an accelerated amortization rate in the earlier years to reflect the expected pattern of decline in the related benefits over time. This customer list is related to the Retail and Wholesale Products Group segment.

The goodwill recorded from the acquisition is primarily attributable to anticipated synergies of our product portfolios. All of the goodwill recognized is deductible for tax purposes. This goodwill is related to the Retail and Wholesale Products Group segment.

We incurred $355,000 of acquisition-related costs, which are included in selling, general and administrative expenses on the Consolidated Statements of Operations.

The summarized proforma financial information below presents the combined results of operations as if the acquisition of MFM had occurred as of August 1, 2012. MFM’s pre-acquisition results have been added to Oil-Dri’s historical results and include certain adjustments related to the acquisition, such as amortization of intangible assets and depreciation expense. These proforma results do not include any anticipated cost synergies and do not reflect the actual results of operations that would have been achieved, nor are they indicative of future results of operations. The following proforma results are presented for comparative purposes only (unaudited) (in thousands, except per share amounts):



	For the Twelve Months Ended July 31,
	2014		2013
Proforma net sales	$	271,279	$	271,453
Proforma net income	$	7,834	$	13,387
Proforma net income per share - Basic Common	$	1.19	$	2.06
Proforma net income per share - Basic Class B	$	0.90	$	1.55
Proforma net income per share - Diluted	$	1.11	$	1.90

The net sales for MFM-related customers after the acquisition that are included in our Consolidated Financial Statements for fiscal 2014 were approximately $10,100,000. The amount of net income specifically attributed to these customers cannot be determined because MFM’s customers’ orders were fulfilled in our existing cat litter manufacturing plants and with our existing sales team and logistics processes.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

OPERATING SEGMENTS Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

OPERATING SEGMENTS [Abstract]

Segment Reporting Disclosure [Text Block]

OPERATING SEGMENTS

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, wholesale clubs, drugstore chains, pet specialty retail outlets, dollar stores, retail grocery stores, distributors of industrial cleanup and automotive products, environmental service companies and sports field product users. The Business to Business Products Group customers include: processors and refiners of edible oils, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; distributors of animal health and nutrition products; and marketers of consumer products.

Sales to Wal-Mart Stores, Inc. (“Walmart”) and its affiliates accounted for approximately 19%, 20% and 22% of our total net sales for the fiscal years ended July 31, 2014, 2013 and 2012, respectively. Walmart is a customer in our Retail and Wholesale Products Group segment. There are no customers in the Business to Business Products Group with sales equal to or greater than 10% of our total sales; however, sales to Clorox (a customer in our Business to Business Products Group) and its affiliates accounted for approximately 6% of total net sales for the fiscal year ended July 31, 2014 and 7% of total net sales for each of the fiscal years ended July 31, 2013 and 2012.

Net sales and operating income for each segment are provided below. Revenues by product line are not provided because it would be impracticable to do so. 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. 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 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.



							July 31,
							Assets
							2014			2013			2012
							(in thousands)
Business to Business Products							$	53,823		$	53,721		$	44,250
Retail and Wholesale Products							95,712			76,376			79,658
Unallocated Assets							36,669			53,462			50,359
Total Assets							$	186,204		$	183,559		$	174,267

	Year Ended July 31,
	Net Sales						Income
	2014		2013		2012		2014			2013			2012
	(in thousands)
Business to Business Products	$	94,286	$	92,969	$	85,456	$	26,654		$	30,739		$	28,643
Retail and Wholesale Products	172,027		157,614		155,225		3,568			10,561			2,098
Total Sales	$	266,313	$	250,583	$	240,681
Corporate Expenses							(17,804		)	(22,359		)	(19,039		)
Capacity Rationalization Charges							—			(70		)	(1,623		)
Income from Operations							12,418			18,871			10,079
Total Other Expense, Net							(1,081		)	(1,372		)	(1,718		)
Income before Income Taxes							11,337			17,499			8,361
Income Taxes							(2,981		)	(2,913		)	(2,263		)
Net Income							$	8,356		$	14,586		$	6,098

The following is a summary of financial information by geographic region for the years ended July 31 (in thousands):



	2014			2013			2012
Sales to unaffiliated customers by:
Domestic operations	$	255,067		$	238,655		$	229,382
Foreign subsidiaries	$	11,246		$	11,928		$	11,299
Sales or transfers between geographic areas:
Domestic operations	$	4,285		$	4,624		$	4,440
Income (Loss) before income taxes:
Domestic operations	$	12,209		$	17,744		$	9,382
Foreign subsidiaries	$	(872	)	$	(245	)	$	(1,021	)
Net Income (Loss):
Domestic operations	$	9,064		$	14,762		$	6,974
Foreign subsidiaries	$	(708	)	$	(176	)	$	(876	)
Identifiable assets:
Domestic operations	$	178,061		$	175,261		$	165,565
Foreign subsidiaries	$	8,143		$	8,298		$	8,702

Our largest customer accounted for the following percentage of consolidated net sales and net accounts receivable:



	2014	2013	2012
Net sales for the years ended July 31	19%	20%	22%
Net accounts receivable as of July 31	28%	30%	32%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

NOTES PAYABLE Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

Notes Payable [Abstract]

Debt Disclosure [Text Block]

NOTES PAYABLE

The composition of notes payable is as follows as of July 31 (in thousands):



	2014			2013
Prudential Insurance Company of America and other parties
Payable in annual principal installments on August 1: $3,083 in each fiscal year 2016 through 2021. Interest is payable semiannually at an annual rate of 3.96%	$	18,500		$	18,500

The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company
Payable in annual principal installments on October 15: $3,500 in fiscal 2015; and $400 in fiscal 2016. Interest is payable semiannually at an annual rate of 5.89%	3,900			7,400
Total notes payable	22,400			25,900
Less current maturities of notes payable	(3,500		)	(3,500		)
Noncurrent notes payable	$	18,900		$	22,400

We have $18,500,000 of senior promissory notes pursuant to an agreement with The Prudential Insurance Company of America and other parties. The notes bear interest at 3.96% per annum and mature on August 1, 2020. The proceeds of the sale may be used to fund future principal payments of our debt, acquisitions, stock repurchases, capital expenditures and for working capital purposes. The note agreement contains certain covenants that restrict our ability and the ability of certain of our subsidiaries to, among other things, (i) incur liens, (ii) incur indebtedness, (iii) merge or consolidate, (iv) sell assets, (v) sell stock of those certain subsidiaries, (vi) engage in business that would change the general nature of the business we are engaged in, and (vii) enter into transactions other than on “arm's length” terms with affiliates.

We sold at face value $15,000,000 in senior promissory notes to The Prudential Insurance Company of America and to Prudential Retirement Insurance and Annuity Company pursuant to a Note Agreement dated December 16, 2005. The notes bear interest at 5.89% per annum and mature on October 15, 2015. The proceeds of the sale may be used to fund future principal payments on debt, acquisitions, stock repurchases, and capital expenditures and for working capital purposes. The note agreement contains certain covenants that restrict our ability to, among other things, incur additional indebtedness, dispose of assets and merge or consolidate. The note agreement also requires a minimum fixed coverage ratio and a minimum consolidated net worth to be maintained.

On December 21, 2011, we signed a second amendment to extend our $15,000,000 unsecured revolving credit agreement with BMO Harris. The second amendment extends the credit agreement until December 31, 2014. The credit agreement with BMO Harris provides that we may select a variable rate based on either BMO Harris’ prime rate or a LIBOR-based rate, plus a margin which varies depending on our debt to earnings ratio, or a fixed rate as agreed between us and BMO Harris. At July 31, 2014, the variable rates would have been 3.25% for the BMO Harris’ prime-based rate or 1.56% for the LIBOR-based rate. 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. The agreement also requires us to maintain a minimum fixed coverage ratio and a minimum consolidated net worth. On June 21, 2012, we signed a third amendment to the credit agreement which also allows us to obtain foreign letters of credit when necessary. As of July 31, 2014 and 2013, there were no outstanding borrowings under this credit agreement.

Our debt agreements also contain provisions such that if we default on one debt agreement, the others will automatically default. If we default on any guaranteed debt with a balance greater than $1,000,000, our unsecured revolving credit agreement with BMO Harris will be considered in default. If we default on any debt with a balance greater than $5,000,000 we will also be considered in default with the promissory notes to The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company. In addition, our credit agreement with BMO Harris indirectly limits dividends by requiring us to maintain consolidated net worth, as defined, of about $56,760,000 plus 25% of cumulative quarterly earnings from January 31, 2006.

We were in compliance with all restrictive covenants and limitations at July 31, 2014.

The following is a schedule by fiscal year of future maturities of notes payable as of July 31, 2014 (in thousands):



2015	$	3,500
2016	3,483
2017	3,083
2018	3,083
2019	3,083
Later years	6,168
	$	22,400

FINANCIAL INSTRUMENTS Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

FAIR VALUE [Abstract]

Fair Value Disclosures [Text Block]

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:	Financial assets and liabilities whose values are based on quoted market prices in active markets for identical assets or liabilities.
Level 2:	Financial assets and liabilities whose values are based on:
	1)	Quoted prices for similar assets or liabilities in active markets.
	2)	Quoted prices for identical or similar assets or liabilities in markets that are not active.
	3)	Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability.
Level 3:	Financial assets and liabilities whose values are based on valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs may reflect estimates of the assumptions that market participants would use in valuing the financial assets and liabilities.

The following table summarizes our financial assets and liabilities that were reported at fair value by level within the fair value hierarchy (in thousands):



	Fair Value at July 31, 2014						Fair Value at July 31, 2013
	Total		Level 1		Level 2		Total		Level 1		Level 2
Assets
Cash equivalents	$	16,230	$	16,230	$	—	$	14,918	$	14,918	$	—
Marketable equity securities	$	117	$	117	$	—	$	88	$	88	$	—
Cash surrender value of life insurance	$	4,625	$	—	$	4,625	$	4,426	$	—	$	4,426

Cash equivalents are classified as Level 1 of the fair value hierarchy because they were valued using quoted market prices in active markets. These cash instruments are primarily money market mutual funds.

Marketable equity securities were valued using quoted market prices in active markets and as such are classified as Level 1 in the fair value hierarchy. These securities represent stock we own in one publicly traded company and are included in other noncurrent assets on the Consolidated Balance Sheets.

Cash surrender value of life insurance is classified as Level 2. The value was determined by the underwriting insurance company’s valuation models, which take into account the passage of time, mortality tables, interest rates, cash values for paid-up additions and dividend accumulations. The cash surrender value represents the guaranteed value we would receive upon surrender of these policies held on former key employees as of July 31, 2014 and 2013, as appropriate. The cash surrender value of life insurance is included in other assets on the Consolidated Balance Sheets.

Short-term investments on the Consolidated Balance Sheets included certificates of deposit at July 31, 2014 and, at July 31, 2013, also included U.S. Treasury securities. We intend and have the ability to hold our short-term investments to maturity; therefore, these investments were reported at amortized cost on the Consolidated Balance Sheets, which approximated fair value as of July 31, 2014 and 2013, and these balances are excluded from the above table.

Accounts receivable and accounts payable balances on the Consolidated Balance Sheets approximate their fair values at July 31, 2014 and 2013 due to the short maturity and nature of those balances; therefore, these balances are excluded from the above table.

Notes payable on the Consolidated Balance Sheets are carried at the face amount of future maturities and are excluded from the above table. The estimated fair value of notes payable was approximately $23,940,000 as of July 31, 2014 and $27,514,000 as of July 31, 2013. Our debt does not trade on a daily basis in an active market, therefore the fair value of notes payable was estimated based on market observable borrowing rates currently available for debt with similar terms and average maturities and is classified as Level 2.

Concentration of Credit Risk

Financial instruments which potentially subject us to concentrations of credit risk consist principally of cash, short-term investments and accounts receivable. Our cash is held in banks which are covered by the Federal Deposit Insurance Corporation; however, our cash balances are in excess of the maximum amount that is insured. Our short-term investments are placed in government-backed instruments and with other high quality institutions. Concentrations of credit risk with respect to accounts receivable are subject to the financial condition of certain major customers, principally the customer referred to in Note 4 of the Notes to the Consolidated Financial Statements. We generally do not require collateral to secure customer receivables; however, we require letters of credit for some foreign customers or we purchase insurance to reduce our risk.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

INCOME TAXES Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

INCOME TAXES [Abstract]

Income Tax Disclosure [Text Block]

INCOME TAXES

The provision for income tax expense (benefit) consists of the following at July 31 (in thousands):



	2014			2013			2012
Current
Federal	$	1,267		$	5,446		$	(252	)
Foreign	63			19			358
State	308			578			(165		)
Current Income Tax Total	1,638			6,043			(59		)
Deferred
Federal	1,381			(2,984		)	2,038
Foreign	(215		)	(88		)	(171		)
State	177			(58		)	455
Deferred Income Tax Total	1,343			(3,130		)	2,322
Total Income Tax Expense	$	2,981		$	2,913		$	2,263

Principal reasons for variations between the statutory federal rate and the effective rates were as follows for the years ended July 31:



	2014		2013		2012
U.S. federal income tax rate	34.0	%	34.0	%	34.0	%
Depletion deductions allowed for mining	(12.2	)	(9.7	)	(16.5	)
State income tax expense, net of federal tax expense	2.8		2.9		2.3
Difference in effective tax rate of foreign subsidiaries	0.9		(0.8	)	1.2
Empowerment zone credits	(0.5	)	(0.5	)	(1.7	)
Valuation allowance increase (decrease)	3.2		(7.8	)	11.4
Other	(1.9	)	(1.5	)	(3.6	)
Effective income tax rate	26.3	%	16.6	%	27.1	%

We added approximately $693,000 to our domestic AMT credit carryforwards in fiscal 2014 based on the amount and composition of our taxable earnings and various tax attributes. We correspondingly increased the related valuation allowance that had been established in prior years for the full amount of the deferred tax benefit related to the AMT credits. In the prior year, we utilized approximately $1,369,000 and correspondingly decreased the related valuation allowance, thereby significantly reducing our effective income tax rate for fiscal 2013.

The Consolidated Balance Sheets included the following tax effects of cumulative temporary differences as of July 31 (in thousands):



	2014					2013
	Assets			Liabilities		Assets ¹			Liabilities ¹
Depreciation	$	—		$	7,332	$	—		$	6,868
Deferred compensation	3,733			—		3,375			—
Postretirement benefits	7,651			—		5,741			—
Allowance for doubtful accounts	303			—		264			—
Deferred marketing expenses	—			10		—			9
Other assets	—			84		207			—
Accrued expenses	1,289			—		3,290			—
Tax credits	3,386			—		2,692			—
Amortization	—			229		—			356
Inventories	453			—		442			—
Depletion	—			488		—			503
Stock-based compensation	248			—		199			—
Reclamation	141			—		241			—
Other assets – foreign	930			—		640			—
Valuation allowance	(3,973		)	—		(3,205		)	—
Total deferred taxes	$	14,161		$	8,143	$	13,886		$	7,736

¹ We identified an error in the amounts previously disclosed in this footnote in fiscal 2013 related to deferred taxes of our United Kingdom subsidiary. The fiscal 2013 amounts reported as Other assets - foreign and Valuation allowance were both overstated by $1,494,000 as previously reported and have been revised in the table above. The disclosure error is considered immaterial, individually and in the aggregate, to the previously reported consolidated financial statements as of and for the year ended July 31, 2013.

As of July 31, 2014, we had a total of approximately $3,973,000 for AMT credit and foreign net operating loss carryforwards, which can be carried forward indefinitely or until utilized. A number of factors determine whether or not we will be able to utilize these tax attributes. For example, certain factors, such as depletion and the cost of fuel used in our manufacturing process, have a significant impact on our ability to use the deferred tax benefit related to our AMT credit carryforwards. In determining whether a valuation allowance is warranted, we take into account such factors as prior earnings history, expected future earnings and other factors that could affect the realization of deferred tax assets. We believe it is more likely than not that we will not realize a benefit from the carryforwards; therefore, a valuation allowance has been established for the full amount of the deferred tax benefit related to the AMT credits and the foreign net operating loss.

Our foreign subsidiary in the United Kingdom has not generated any untaxed foreign income, therefore we have not provided for any related income taxes.

As of July 31, 2014, we had no liability for unrecognized tax benefits (“UTBs”) based on tax positions related to the current and prior fiscal years. Reconciliations of the beginning and ending amount of UTBs were as follows for the years ended July 31 (in thousands):



	2014			2013		2012
Gross balance – beginning of year	$	273		$	273	$	273
Gross decreases - tax positions from prior years	(273		)	—		—
Gross balance – end of year	$	—		$	273	$	273

We classify interest and penalty accruals related to UTBs as income tax expense. During fiscal 2014, we recognized no interest and penalties and we had accrued no accrual for the payment of interest and penalties.

We are subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions. Our federal income tax returns for the fiscal years ended July 31, 2011, 2012 and 2013 remain open and are currently under examination. Foreign and U.S. state jurisdictions have statutes of limitations generally ranging from three to five years. The state impact of any federal income tax changes remains subject to examination by various states for a period of up to one year after formal notification to the states. There are no material open or unsettled state, local or foreign income tax audits. We believe our accrual for tax liabilities is adequate for all open audit years.

STOCKHOLDERS EQUITY Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity Note Disclosure

STOCKHOLDERS’ EQUITY

Common Stock

Our authorized capital stock at July 31, 2014 and 2013 consisted of 15,000,000 shares of Common Stock, 7,000,000 shares of Class B Stock and 30,000,000 shares of Class A Common Stock, each with a par value of $.10 per share. There are no Class A Common Stock shares currently outstanding.

The Common Stock and Class B Stock are equal, on a per share basis, in all respects except as to voting rights, conversion rights, cash dividends and stock splits or stock dividends. The Class A Common Stock is equal, on a per share basis, in all respects, to the Common Stock except as to voting rights and stock splits or stock dividends. In the case of voting rights, Common Stock is entitled to one vote per share and Class B Stock is entitled to ten votes per share, while Class A Common Stock generally has no voting rights. Common Stock has no conversion rights and Class A Common Stock has 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.

Common Stock is entitled to cash dividends, as and when declared or paid, equal to at least 133.33% on a per share basis of the cash dividend paid on Class B Stock. Class A Common Stock is entitled to cash dividends on a per share basis equal to the cash dividend on Common Stock. Additionally, while shares of Common Stock, Class A Common Stock and Class B Stock are outstanding, the sum of the per share cash dividend paid on shares of Common Stock and Class A Common Stock, must be equal to at least 133.33% of the sum of the per share cash dividend paid on Class B Stock and Class A Common Stock. See Note 5 of the Notes to the Consolidated Financial Statements regarding dividend restrictions provided in our debt agreements.

Shares of Common Stock, Class A Common Stock and Class B Stock are equal in respect of all rights to dividends (other than cash) and distributions in the form of stock or other property (including stock dividends and split-ups) in each case in the same ratio except in the case of a Special Stock Dividend. A Special Stock Dividend, which can be issued only once, is either a dividend of one share of Class A Common Stock for each share of Common Stock and Class B Stock outstanding or a recapitalization, in which half of each outstanding share of Common Stock and Class B Stock would be converted into a half share of Class A Common Stock.

Our Board of Directors has authorized in the aggregate the repurchase of 3,666,771 shares of the Company stock since fiscal 1991. As of July 31, 2014, 3,014,917 shares of Common Stock and 342,241 shares of Class B Stock have been repurchased under the Board approved repurchase authorizations. Common Stock was repurchased by other transactions authorized by management prior to the adoption of the Board’s repurchase authorizations.

Accumulated Other Comprehensive Income

The following table summarizes the changes in accumulated other comprehensive income by component as of July 31, 2014 (in thousands):



	Unrealized Gain on Marketable Securities		Pension and Postretirement Health Benefits				Cumulative Translation Adjustment			Total Accumulated Other Comprehensive Income
Balance as of July 31, 2013	$	86	$	(5,608	)		$	487		$	(5,035	)
Other comprehensive income (loss) before reclassifications, net of tax	28		(3,266		)		(232		)	(3,470		)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		242			a)	—			242
Net current-period other comprehensive income (loss), net of tax	28		(3,024		)		(232		)	(3,228		)
Balance as of July 31, 2014	$	114	$	(8,632	)		$	255		$	(8,263	)

a) Amount is net of tax expense of $148,000. Amounts are included in the components of net periodic benefit cost for the pension and postretirement health plans. See Note 10 of the Notes to the Consolidated Financial Statements for further information.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

STOCK-BASED COMPENSATION (Notes)

12 Months Ended

Jul. 31, 2014

STOCK-BASED COMPENSATION [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments

STOCK-BASED COMPENSATION

We determined the fair value of stock options and restricted stock issued under our long term incentive plans as of the grant date. The fair value of restricted stock was determined by the closing market price of our Common Stock on the date of grant multiplied by the number of shares granted. The fair value of the stock options was estimated on the date of the grant using a Black-Scholes option valuation model that used various assumptions. The risk free interest rate was based on the U.S. Treasury yield curve in effect at the time of grant. Expected life (estimated period of time outstanding) of a grant was determined by reference to the vesting schedule, past exercise behavior and comparison with other reporting companies. The dividend rate at the date of grant was used as the best estimate of future dividends. Expected volatility was determined by calculating the standard deviation of our stock price for the five years immediately prior to the grant date. This period of time closely resembles the expected term. All stock options issued under our plans have an exercise price equal to the closing market price of our Common Stock on the date of grant. All options currently outstanding have a term of ten years.

STOCK OPTIONS

Our 1995 Long Term Incentive Plan (“1995 Plan”) provided for grants of both incentive and non-qualified stock options and restricted stock. Stock options granted under the 1995 Plan generally vest 25% two years after the grant date and in each of the three following anniversaries of the grant date. All shares of stock issued upon option exercises under this plan were from authorized but unissued stock; all shares of restricted stock issued were from treasury stock. All remaining outstanding options were exercised during fiscal 2014 and there were no shares available for future grants under this plan as of July 31, 2014.

The Oil-Dri Corporation of America 2006 Long Term Incentive Plan (“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 937,500. Stock options have been granted to our outside directors with a vesting period of one year and stock options granted to employees generally vest 25% two years after the grant date and in each of the three following anniversaries of the grant date. In addition, shares of restricted stock have been issued under the 2006 Plan as described in the restricted stock section below. As of July 31, 2014, there were 552,304 shares available for future grants under this plan.

The Oil-Dri Corporation of America Outside Director Stock Plan (the “Directors’ Plan”) provided for grants of stock options to directors. Stock options have been granted to our directors with a one year vesting period. All remaining outstanding options were exercised during fiscal 2014 and there were no shares available for future grants under this plan as of July 31, 2014. All shares of stock issued under the Directors’ Plan were from treasury stock.

A summary of stock option transactions under the plans is shown below.



	Number of Shares (in thousands)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Options exercisable at July 31, 2011	184		$	10.94	2.8	$	1,793
Options non-vested at July 31, 2011	5		$	17.00
Options outstanding at July 31, 2011	189		$	11.10	2.8	$	1,882
Exercised	(42	)	$	8.34		$	515
Options outstanding and exercisable at July 31, 2012	147		$	11.89	2.2	$	1,473
Exercised	(87	)	$	10.25		$	1,385
Options outstanding and exercisable at July 31, 2013	60		$	14.25	2.3	$	1,059
Exercised	(8	)	$	12.47		$	151
Forfeited	(8	)	$	9.43
Options outstanding and exercisable at July 31, 2014	44		$	15.43	1.9	$	611

The amount of cash received from the exercise of options during the fiscal year ended July 31, 2014 was approximately $93,000 and the related tax benefit was approximately $39,000. The amount of cash received from the exercise of options during the fiscal year ended July 31, 2013 was approximately $2,271,000 and the related tax benefit was approximately $613,000. The amount of cash received from the exercise of options during the fiscal year ended July 31, 2012 was approximately $866,000 and the related tax benefit was approximately $234,000.

The following table summarizes information related to stock options outstanding and exercisable at July 31, 2014. All outstanding stock options were exercisable as of July 31, 2014.



Options Outstanding and Exercisable by Price Range as of July 31, 2014
Range of Exercise Prices					Outstanding and Exercisable (in thousands)	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price
$	13.51	-	$	15.00	25	1.9	$	14.82
$	15.01	-	$	16.50	9	1.6	$	15.37
$	16.51	-	$	17.00	10	2.3	$	17.00
$	13.51	-	$	17.00	44	1.9	$	15.43

We recognized the related compensation expense over the period from the date of grant to the date when the award is no longer contingent on the employee providing additional service to us. We recognized no stock-based compensation expense related to stock options during fiscal years 2014 and 2013 and recognized $4,000 expense during fiscal 2012, net of related tax effect.

As of July 31, 2014, 2013 and 2012 we had no unamortized expense associated with outstanding stock options.

RESTRICTED STOCK

All of our non-vested restricted stock as of July 31, 2014 was issued under the 2006 Plan with vesting periods from two to five years.

A summary of restricted stock transactions under the plans is shown below.



	Number of Shares (in thousands)		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)	Unamortized Expense (in thousands)
Non-vested restricted stock outstanding at July 31, 2011	139		$	21.54	4.0	$	2,446
Granted	28		$	20.95
Vested	(30	)	$	20.67
Forfeited	(5	)	$	19.61
Non-vested restricted stock outstanding at July 31, 2012	132		$	21.68	3.1	$	2,214
Granted	20		$	25.03
Vested	(34	)	$	21.75
Forfeited	(1	)	$	20.60
Non-vested restricted stock outstanding at July 31, 2013	117		$	22.24	2.1	$	1,824
Granted	51		$	34.18
Vested	(40	)	$	21.50
Forfeited	(6	)	$	25.41
Non-vested restricted stock outstanding at July 31, 2014	122		$	27.31	2.4	$	2,226

We recognized stock-based compensation related to restricted stock of $880,000, $631,000 and $519,000, net of related tax effect, in fiscal 2014, 2013 and 2012, respectively. The total restricted stock compensation related tax benefit was $309,000, $233,000 and $201,000 in fiscal 2014, 2013 and 2012, respectively.

PENSION AND OTHER POSTRETIREMENT BENEFITS Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

EMPLOYEE BENEFIT PLANS [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION AND OTHER POSTRETIREMENT BENEFITS

The Oil-Dri Corporation of American Pension Plan (“Pension Plan”) is a defined benefit pension plan for eligible salaried and hourly employees. Pension benefits are based on a formula of years of credited service and levels of compensation or stated amounts for each year of credited service.

We also provide a postretirement health benefits plan 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.

We also maintain a 401(k) savings plan 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 $814,000, $708,000 and $673,000 for the fiscal years ended July 31, 2014, 2013 and 2012, respectively.

Obligations and Funded Status

The following tables provide a reconciliation of changes in the plans’ benefit obligations, assets’ fair values and funded status for the fiscal years ended July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation, beginning of year	$	36,866		$	41,839		$	2,441		$	2,585
Service cost	1,425			1,751			111			136
Interest cost	1,761			1,544			110			96
Actuarial loss (gain)	5,379			(7,324		)	114			(285		)
Plan amendments	—			—			—			(70		)
Benefits paid	(1,064		)	(944		)	(6		)	(21		)
Benefit obligation, end of year	44,367			36,866			2,770			2,441

Change in plan assets:
Fair value of plan assets, beginning of year	22,887			20,108			—			—
Actual return on plan assets	1,938			2,514			—			—
Employer contribution	1,043			1,209			6			21
Benefits paid	(1,064		)	(944		)	(6		)	(21		)
Fair value of plan assets, end of year	24,804			22,887			—			—
Funded status, recorded in Consolidated Balance Sheets	$	(19,563	)	$	(13,979	)	$	(2,770	)	$	(2,441	)

The accumulated benefit obligation for the Pension Plan was $37,813,000 as of July 31, 2014 and $31,841,000 as of July 31, 2013.

The following table shows amounts recognized in the Consolidated Balance Sheets as of July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2014			2013			2014			2013
Deferred income taxes	$	6,634		$	4,843		$	1,017		$	898
Other current liabilities	$	—		$	—		$	(60	)	$	(58	)
Other noncurrent liabilities	$	(19,563	)	$	(13,979	)	$	(2,710	)	$	(2,383	)
Accumulated other comprehensive income –net of tax:
Net actuarial loss	$	8,156		$	5,172		$	500		$	445
Prior service cost (income)	$	15		$	24		$	(39	)	$	(43	)
Net obligation at transition	$	—		$	—		$	—		$	10

Benefit Costs and Amortizations

The following table shows the components of the net periodic pension and postretirement health benefit costs for the fiscal years ended July 31 (in thousands):



	Pension Cost									Postretirement Health Benefit Cost
	2014			2013			2012			2014			2013		2012
Service cost	$	1,425		$	1,751		$	1,324		$	111		$	136	$	104
Interest cost	1,761			1,544			1,617			110			96		105
Expected return on plan assets	(1,715		)	(1,510		)	(1,480		)	—			—		—
Amortization of:
Net transition obligation	—			—			—			16			15		15
Prior service costs (income)	13			15			15			(6		)	—		—
Other actuarial loss	343			884			317			24			53		30
Net periodic benefit cost	$	1,827		$	2,684		$	1,793		$	255		$	300	$	254

The following table shows amounts, net of tax, that are recognized in other comprehensive income for the fiscal years ended July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2014			2013			2014			2013
Net actuarial loss (gain)	$	3,196		$	(5,164	)	$	70		$	(177	)
Prior service cost establishment due to plan amendments	—			—			—			(43		)
Amortization of:
Prior service (cost) income	(8		)	(9		)	4			—
Net transition obligation	—			—			(10		)	(9		)
Amortization of actuarial loss	(213		)	(548		)	(15		)	(33		)
Total recognized in other comprehensive loss (income)	$	2,975		$	(5,721	)	$	49		$	(262	)

The following table shows amortization amounts, net of tax, expected to be recognized in fiscal 2015 in accumulated other comprehensive income (in thousands):



Amortization of:	Pension Benefits		Postretirement Health Benefits
Net actuarial loss	$	372	$	23
Prior service cost (income)	6		(4		)
Total to be recognized as other comprehensive loss	$	378	$	19

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 expect to contribute approximately $1,856,000 in fiscal 2015.

The postretirement health plan is an unfunded plan. Our policy is to pay insurance premiums and claims from our assets.

The following table shows the estimated future benefit payments (in thousands):



	Pension Benefits		Postretirement Health Benefits
2015	$	1,208	$	60
2016	$	1,240	$	87
2017	$	1,327	$	106
2018	$	1,460	$	116
2019	$	1,543	$	139
2020-24	$	9,319	$	1,007

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 were as follows:



	Pension Benefits		Postretirement Health Benefits
	2014	2013	2014	2013
Discount rate for net periodic benefit costs	4.80%	3.75%	4.80%	3.75%
Discount rate for year-end obligations	4.28%	4.80%	3.87%	4.80%
Rate of increase in compensation levels for net periodic benefit costs	3.50%	3.50%	—	—
Rate of increase in compensation levels for year-end obligations	3.50%	3.50%	—	—
Long-term expected rate of return on assets	7.50%	7.50%	—	—

The discount rate for the fiscal 2014 obligation was based on the Citigroup Pension Discount Curve (“CPDC”) to determine separately 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. In fiscal 2013, the discount rate for both plans was based on the Citigroup Pension Liability Index (“CPLI”), which also provided a single equivalent rate but did not consider each plan's unique expected cash flow stream. While the CPLI is considered an acceptable basis to determine discount rates, we believe the more plan-specific rates identified using the CPDC provides a better representation of each plan's obligations and costs.

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 2014, the medical cost trend assumption was 8.0% . The graded trend rate is expected to decrease to an ultimate rate of 5.0% in fiscal 2024.

The following table reflects the effect on postretirement health costs and accruals of a one-percentage point change in the assumed health care cost trend in the fiscal year ended July 31, 2014 (in thousands):



	One-Percentage Point Increase	One-Percentage Point Decrease
Effect on total service and interest cost	$33	$(28)
Effect on accumulated postretirement benefit obligation	$337	$(293)

Pension Plan Assets

The investment objective for the Pension Plan assets is 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 includes 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 measure and monitor the plan’s asset investment performance and the allocation of assets through quarterly investment portfolio reviews. Investment performance is measured by absolute returns, returns relative to benchmark indices and any other appropriate basis of comparison. The targeted allocation percentages of plan assets is shown below for fiscal 2015 and the actual allocation as of July 31:



Asset Allocation	Target fiscal 2015	2014	2013
Cash and accrued income	2%	5%	13%
Fixed income	38%	27%	25%
Equity	60%	67%	62%

The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets carried at fair value as of July 31 (in thousands):



	Fair Value At July 31, 2014
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Class
Cash and Cash Equivalents^(a)	$	1,123	$	1,123	$	—	$	—
Equity securities^(b):
U.S. companies	10,168		10,168		—		—
International companies	2,698		2,698		—		—
Equity securities - international mutual funds:
Developed market^(c)	2,005		—		2,005		—
Emerging markets^(d)	351		—		351		—
Commodities^(e)	383		—		383		—
Fixed Income:
U.S. Treasuries	3,020		—		3,020		—
Corporate bonds^(f)	1,911		—		1,911		—
Floating rate debt^(k)	838		—		838		—
Government sponsored entities^(h)	376		—		376		—
Multi-strategy bond fund⁽ⁱ⁾	856		—		856		—
Other^(j)	1,075		—		1,075		—
Total	$	24,804	$	13,989	$	10,815	$	—



	Fair Value At July 31, 2013
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Class
Cash and Cash Equivalents^(a)	$	2,469	$	2,469	$	—	$	—
Equity securities^(b):
U.S. companies	8,962		8,933		29		—
International companies	1,901		1,901		—		—
Equity securities - international mutual funds:
Developed market^(c)	1,741		—		1,741		—
Emerging markets^(d)	567		—		567		—
Commodities^(e)	379		7		372		—
Fixed Income:
U.S. Treasuries	2,694		—		2,694		—
Corporate bonds^(f)	1,998		—		1,998		—
Emerging markets^(g)	666		—		666		—
Government sponsored entities^(h)	320		—		320		—
Multi-strategy bond fund⁽ⁱ⁾	624		—		624		—
Other^(j)	566		—		566		—
Total	$	22,887	$	13,310	$	9,577	$	—


(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 at least 80% of their assets in stocks of non- U.S. companies that are primarily in developed markets, however the fund allows up to 20% to be invested in emerging markets.


(d)	These mutual funds seek long-term capital growth by investing at least 80% of their assets in stocks of companies located in Asia, excluding Japan.


(e)	The majority of the investments in this class seek maximum real return by investing primarily in commodity-linked derivative instruments. Assets not invested in commodity-linked instruments may be invested in inflation-indexed securities and other fixed income instruments.


(f)	This class includes bonds of U.S. and non-U.S. issuers from diverse industries.


(g)	This class invests at least 80% of its net assets, plus any borrowing for investment purposes, directly in, or in derivative instruments that provide exposure to, emerging market bonds and other debt instruments denominated in the local currency of issue.


(h)	This class represents a beneficial ownership interest in a pool of single-family residential mortgage loans. These investments are not backed by the full faith and credit of the United States government.


(i)	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 50% of its net assets are invested in mortgage-backed securities. The fund may invest up to 33 1/3% of its net assets in high-yield bonds, bank loans and assignments and credit default swaps.


(j)	This class seek long-term positive returns by employing a number of arbitrage and alternative investment strategies. The portfolio of instruments may include equities, convertible securities, debt securities, warrants, options, swaps, future contracts, forwards or other types of derivative instruments.

(k)

This fund invests at least 80% of its net assets in first- and second-lien senior floating rate debt securities that are generally rated below investment grade. The fund may invest up to 20% of its net assets in debt securities that are lower than a senior claim on collateral and up to 20% of its net assets in senior loans made to non-U.S. borrowers. The fund may also include derivative instruments.

DEFERRED COMPENSATION Level 1 (Notes)	12 Months Ended
DEFERRED COMPENSATION Level 1 (Notes)	Jul. 31, 2014
DEFERRED COMPENSATION [Abstract]
Compensation Related Costs, General	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 $542,000 into these plans in each of fiscal years 2014 and 2013. We recorded $431,000 and $412,000 of interest expense associated with these plans in fiscal years 2014 and 2013, respectively. Payments to participants were $418,000 and $465,000 in fiscal 2014 and 2013, respectively, and the total liability recorded for deferred compensation was $8,161,000 and $7,813,000 at July 31, 2014 and 2013, 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. Financial targets under the provisions of the plan were not achieved to merit an award for the fiscal year ended July 31, 2014. A total of $877,000 was awarded to certain executives for the fiscal year ended July 31, 2013, which will vest and accrue interest over a three-year period. Both of the above 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. The Oil-Dri Corporation of America Supplemental Executive Retirement Plan provides certain retired participants in the Pension Plan with the amount of benefits that would have been provided under the Pension Plan but for: (1) the limitations on benefits imposed by Section 415 of the Internal Revenue Code (“Code”), and/or (2) the limitation on compensation for purposes of calculating benefits under the Pension Plan imposed by Section 401(a)(17) of the Code. The SERP liability is actuarially determined at the end of each fiscal year using assumptions similar to those used for the Pension Plan, see Note 10 of the Notes to the Consolidated Financial Statements. The SERP liability recorded at July 31, 2014 was $1,255,000, which was higher than the $1,039,000 liability recorded at July 31, 2013 due primarily to a decrease in the discount rate used to actuarially value the obligation at July 31, 2014. As a result of the higher SERP liability, we recorded approximately $215,000 of expense for the fiscal year ended July 31, 2014, compared to $202,000 of income for the fiscal year ended July 31, 2013. The SERP is unfunded and we will fund benefits when payments are made.

- Definition

The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

+ References + Details

OTHER CONTINGENCIES Level 1 (Notes)	12 Months Ended
OTHER CONTINGENCIES Level 1 (Notes)	Jul. 31, 2014
OTHER CONTINGENCIES [Abstract]
Other Contingencies Disclosure [Text Block]	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. 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 or financial condition.

LEASES Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

Leases [Abstract]

Leases of Lessor Disclosure [Text Block]

LEASES

Our mining operations are conducted on leased or owned property. These leases generally provide us with the right to mine as long as we continue to pay a minimum monthly rental, which is applied against the per ton royalty when the property is mined. We also lease certain offices and production facilities. In addition, we lease vehicles, railcars, mining property and equipment, warehouse space, data processing equipment, and office equipment. In most cases, we expect that, in the normal course of business, leases will be renewed or replaced by other leases.

The following is a schedule by year of future minimum rental requirements under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of July 31, 2014 (in thousands):



2015	$	1,527
2016	$	1,263
2017	$	1,200
2018	$	1,046
2019	$	323
Later years	$	535

The following schedule shows the composition of total rental expense for all operating leases, including those with terms of one month or less which were not renewed, for the fiscal years ended July 31 (in thousands):



	2014		2013		2012
Vehicles and Railcars	$	1,818	$	1,885	$	2,029
Office facilities	890		844		848
Warehouse facilities	235		229		252
Mining properties:
Minimum	292		320		123
Contingent	162		120		302
Other	108		133		141
	$	3,505	$	3,531	$	3,695

Contingent mining royalty payments are determined based on the tons of raw clay mined.

We have one capital lease for three pieces of equipment used at our manufacturing facilities. All scheduled lease payments have been made as of July 31, 2014. The remaining obligation of $1,330,000, which is included in Other Accrued Expenses on the Consolidated Balance Sheets, represents the purchase option price we intend to pay to obtain title to the equipment in fiscal 2015. These assets under capital lease are included on the Consolidated Balance Sheets in Machinery and Equipment for $1,523,000, and in Accumulated Depreciation and Amortization for $32,000. Depreciation expense related to these assets is included in Cost of Sales on the Consolidated Statements of Operations.

- Definition

The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.

+ References + Details

OTHER CASH FLOW INFORMATION Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

OTHER CASH FLOW INFORMATION [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

OTHER CASH FLOW INFORMATION

Cash payments for interest and income taxes were as follows for the fiscal years ended July 31 (in thousands):



	2014		2013		2012
Interest	$	1,078	$	1,351	$	1,607
Income taxes	$	3,022	$	5,064	$	993

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Level 1 (Notes)

12 Months Ended

Jul. 31, 2014

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]

Quarterly Financial Information [Text Block]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

A summary of selected information for fiscal years 2014 and 2013 is as follows (in thousands, except for per share amounts):



	Fiscal 2014 Quarter Ended
	October 31		January 31		April 30		July 31		Fiscal 2014
Net Sales	$	63,546	$	69,305	$	67,417	$	66,045	$	266,313
Gross Profit	$	16,500	$	16,893	$	13,884	$	12,373	$	59,650
Net Income	$	2,887	$	4,281	$	722	$	466	$	8,356
Net Income Per Share
Basic Common	$	0.44	$	0.65	$	0.11	$	0.07	$	1.27
Basic Class B Common	$	0.33	$	0.49	$	0.08	$	0.05	$	0.96
Diluted	$	0.41	$	0.60	$	0.10	$	0.07	$	1.17
Dividends Per Share
Common	$	0.1900	$	0.1900	$	0.1900	$	0.2000	$	0.7700
Class B	$	0.1425	$	0.1425	$	0.1425	$	0.1500	$	0.5775
Common Stock Price Range
High	$	36.80	$	41.74	$	36.27	$	34.90
Low	$	30.35	$	32.90	$	31.24	$	28.71

	Fiscal 2013 Quarter Ended
	October 31		January 31		April 30		July 31		Fiscal 2013
Net Sales	$	61,417	$	61,122	$	64,152	$	63,892	$	250,583
Gross Profit	$	17,231	$	16,269	$	16,891	$	16,108	$	66,499
Net Income	$	4,452	$	2,146	$	3,251	$	4,737	$	14,586
Net Income Per Share
Basic Common	$	0.69	$	0.33	$	0.50	$	0.73	$	2.25
Basic Class B Common	$	0.52	$	0.25	$	0.37	$	0.55	$	1.69
Diluted	$	0.64	$	0.31	$	0.46	$	0.67	$	2.07
Dividends Per Share
Common	$	0.1800	$	0.3600	$	—	$	0.1900	$	0.7300
Class B	$	0.1350	$	0.2700	$	—	$	0.1425	$	0.5475
Common Stock Price Range
High	$	23.77	$	30.34	$	28.52	$	32.40
Low	$	21.26	$	20.82	$	23.92	$	25.30

SUBSEQUENT EVENTS Level 1 (Notes)	12 Months Ended
SUBSEQUENT EVENTS Level 1 (Notes)	Jul. 31, 2014
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Management has evaluated subsequent events through the date the financial statements were issued. Based on our evaluation no events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Level 2 (Policies)

12 Months Ended

Jul. 31, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Principles of Consolidation

PRINCIPLES OF CONSOLIDATION

Management Use of Estimates

MANAGEMENT USE OF ESTIMATES

Cash and Cash Equivalents

CASH AND CASH EQUIVALENTS

Cash equivalents are highly liquid investments with maturities of three months or less when purchased.

Short-Term Investments

SHORT-TERM INVESTMENTS

The composition of short-term investments was as follows as of July 31 (in thousands):



	2014		2013
U.S. Treasury Securities	$	—	$	8,999
Certificates of Deposit	2,640		9,460
Short-Term Investments	$	2,640	$	18,459

We intend and have the ability to hold these investments to maturity; therefore, these investments are reported at amortized cost on the Consolidated Balance Sheets.

Trade Receivables

TRADE RECEIVABLES

Inventories

INVENTORIES



	2014		2013
Finished goods	$	14,326	$	12,112
Packaging	5,402		4,003
Other	4,755		4,608
Inventories	$	24,483	$	20,723

Translation of Foreign Currencies

TRANSLATION OF FOREIGN CURRENCIES

Intangible Assets and Goodwill

INTANGIBLE ASSETS AND GOODWILL

Our estimated intangible amortization expense for the next five fiscal years is as follows (in thousands):



2015	$	1,581
2016	$	1,443
2017	$	1,188
2018	$	979
2019	$	792

The weighted average amortization period of our intangible assets subject to amortization is as follows (in years):



	Weighted Average Amortization Period
Trademarks and patents	4.5
Debt issuance costs	5.0
Licensing agreements and noncompete agreements	0.8
Customer list	9.3
Total intangible assets subject to amortization	8.9

During fiscal 2014 a total of $3,872,000 was added to goodwill related to the MFM acquisition. See Note 3 of the Notes to the Consolidated Financial Statements for further information.

Overburden Removal and Mining Costs

OVERBURDEN REMOVAL AND MINING COSTS

Reclamation

RECLAMATION

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT



	Years
Buildings and leasehold improvements	3	-	39
Machinery and equipment
Packaging	2	-	20
Processing	2	-	25
Mining and Other	3	-	15
Office furniture, computers and equipment	2	-	12
Vehicles	3	-	15

Depreciation expense was $9,289,000 and $8,603,000 for fiscal 2014 and 2013, respectively.

Trade Promotions

TRADE PROMOTIONS

Advertising

ADVERTISING

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

Revenue Recognition

REVENUE RECOGNITION

Cost of Sales

COST OF SALES

Shipping and Handling Costs

SHIPPING AND HANDLING COSTS

Shipping and handling costs are included in cost of sales and were approximately $49,456,000, $45,002,000 and $42,095,000 for the fiscal years ended July 31, 2014, 2013 and 2012, respectively.

Selling, General and Administrative Expenses

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

Research and Development

RESEARCH AND DEVELOPMENT

Research and development costs of approximately $2,587,000, $2,620,000 and $2,006,000 were charged to expense as incurred for the fiscal years ended July 31, 2014, 2013 and 2012, respectively.

Pension and Postretirement Benefit Costs

PENSION AND POSTRETIREMENT BENEFIT COSTS

Stock-Based Compensation

STOCK-BASED COMPENSATION

Income Taxes

INCOME TAXES

OPERATING SEGMENTS Level 2 (Policy)	12 Months Ended
OPERATING SEGMENTS Level 2 (Policy)	Jul. 31, 2014
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, wholesale clubs, drugstore chains, pet specialty retail outlets, dollar stores, retail grocery stores, distributors of industrial cleanup and automotive products, environmental service companies and sports field product users. The Business to Business Products Group customers include: processors and refiners of edible oils, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; distributors of animal health and nutrition products; and marketers of consumer products.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 31, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Short-Term Investments [Table Text Block]

The composition of short-term investments was as follows as of July 31 (in thousands):



	2014		2013
U.S. Treasury Securities	$	—	$	8,999
Certificates of Deposit	2,640		9,460
Short-Term Investments	$	2,640	$	18,459

Inventories [Table Text Block]

The composition of inventories was as follows as of July 31 (in thousands):



	2014		2013
Finished goods	$	14,326	$	12,112
Packaging	5,402		4,003
Other	4,755		4,608
Inventories	$	24,483	$	20,723

Estimated Intangible Amortization Expense [Table Text Block]

Our estimated intangible amortization expense for the next five fiscal years is as follows (in thousands):



2015	$	1,581
2016	$	1,443
2017	$	1,188
2018	$	979
2019	$	792

Acquired Finite-Lived Intangible Assets Weighted Average Amortization Period [Table Text Block]

The weighted average amortization period of our intangible assets subject to amortization is as follows (in years):



	Weighted Average Amortization Period
Trademarks and patents	4.5
Debt issuance costs	5.0
Licensing agreements and noncompete agreements	0.8
Customer list	9.3
Total intangible assets subject to amortization	8.9

Property, Plant and Equipment [Table Text Block]



	Years
Buildings and leasehold improvements	3	-	39
Machinery and equipment
Packaging	2	-	20
Processing	2	-	25
Mining and Other	3	-	15
Office furniture, computers and equipment	2	-	12
Vehicles	3	-	15

SPECIAL CHARGES (Tables)

12 Months Ended

Jul. 31, 2014

SPECIAL CHARGES [Abstract]

Schedule of Restructuring and Related Costs [Table Text Block]

The table below shows a rollforward of the reserve included in Other Accrued Expenses on the Consolidated Balance Sheets as of July 31, 2013.



	Severance and other employee related costs
Reserve balance at July 31, 2012	$	413
Charges against reserve	(403		)
Reserve adjustment	(10		)
Reserve balance at July 31, 2013	$	—

ACQUISITION (Tables)

12 Months Ended

Jul. 31, 2014

Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed at the acquisition date.



	Estimated Fair Value as of November 1, 2013
	(in thousands)
Consideration transferred:
Cash	$	12,505
Contingent Consideration - Escrow	500
Contingent Consideration - Proceeds on land sale	(255		)
Fair value of total consideration transferred	12,750

Recognized amounts of identifiable assets acquired:
Inventories	664
Current assets	130
Equipment	300
Customer list	7,784
Total identifiable assets	8,878

Goodwill	$	3,872

Business Acquisition, Pro Forma Information [Table Text Block]

The following proforma results are presented for comparative purposes only (unaudited) (in thousands, except per share amounts):



	For the Twelve Months Ended July 31,
	2014		2013
Proforma net sales	$	271,279	$	271,453
Proforma net income	$	7,834	$	13,387
Proforma net income per share - Basic Common	$	1.19	$	2.06
Proforma net income per share - Basic Class B	$	0.90	$	1.55
Proforma net income per share - Diluted	$	1.11	$	1.90

OPERATING SEGMENTS (Tables)

12 Months Ended

Jul. 31, 2014

OPERATING SEGMENTS [Abstract]

Segment Reporting Information [Table Text Block]



							July 31,
							Assets
							2014			2013			2012
							(in thousands)
Business to Business Products							$	53,823		$	53,721		$	44,250
Retail and Wholesale Products							95,712			76,376			79,658
Unallocated Assets							36,669			53,462			50,359
Total Assets							$	186,204		$	183,559		$	174,267

	Year Ended July 31,
	Net Sales						Income
	2014		2013		2012		2014			2013			2012
	(in thousands)
Business to Business Products	$	94,286	$	92,969	$	85,456	$	26,654		$	30,739		$	28,643
Retail and Wholesale Products	172,027		157,614		155,225		3,568			10,561			2,098
Total Sales	$	266,313	$	250,583	$	240,681
Corporate Expenses							(17,804		)	(22,359		)	(19,039		)
Capacity Rationalization Charges							—			(70		)	(1,623		)
Income from Operations							12,418			18,871			10,079
Total Other Expense, Net							(1,081		)	(1,372		)	(1,718		)
Income before Income Taxes							11,337			17,499			8,361
Income Taxes							(2,981		)	(2,913		)	(2,263		)
Net Income							$	8,356		$	14,586		$	6,098

Financial information by geographic region [Table Text Block]

The following is a summary of financial information by geographic region for the years ended July 31 (in thousands):



	2014			2013			2012
Sales to unaffiliated customers by:
Domestic operations	$	255,067		$	238,655		$	229,382
Foreign subsidiaries	$	11,246		$	11,928		$	11,299
Sales or transfers between geographic areas:
Domestic operations	$	4,285		$	4,624		$	4,440
Income (Loss) before income taxes:
Domestic operations	$	12,209		$	17,744		$	9,382
Foreign subsidiaries	$	(872	)	$	(245	)	$	(1,021	)
Net Income (Loss):
Domestic operations	$	9,064		$	14,762		$	6,974
Foreign subsidiaries	$	(708	)	$	(176	)	$	(876	)
Identifiable assets:
Domestic operations	$	178,061		$	175,261		$	165,565
Foreign subsidiaries	$	8,143		$	8,298		$	8,702

Largest Customer Information [Table Text Block]

Our largest customer accounted for the following percentage of consolidated net sales and net accounts receivable:



	2014	2013	2012
Net sales for the years ended July 31	19%	20%	22%
Net accounts receivable as of July 31	28%	30%	32%

NOTES PAYABLE (Tables)

12 Months Ended

Jul. 31, 2014

Notes Payable [Abstract]

Schedule of Debt [Table Text Block]

The composition of notes payable is as follows as of July 31 (in thousands):



	2014			2013
Prudential Insurance Company of America and other parties
Payable in annual principal installments on August 1: $3,083 in each fiscal year 2016 through 2021. Interest is payable semiannually at an annual rate of 3.96%	$	18,500		$	18,500

The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company
Payable in annual principal installments on October 15: $3,500 in fiscal 2015; and $400 in fiscal 2016. Interest is payable semiannually at an annual rate of 5.89%	3,900			7,400
Total notes payable	22,400			25,900
Less current maturities of notes payable	(3,500		)	(3,500		)
Noncurrent notes payable	$	18,900		$	22,400

Schedule of Maturities of Long-term Debt [Table Text Block]

The following is a schedule by fiscal year of future maturities of notes payable as of July 31, 2014 (in thousands):



2015	$	3,500
2016	3,483
2017	3,083
2018	3,083
2019	3,083
Later years	6,168
	$	22,400

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jul. 31, 2014

FAIR VALUE [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table summarizes our financial assets and liabilities that were reported at fair value by level within the fair value hierarchy (in thousands):



	Fair Value at July 31, 2014						Fair Value at July 31, 2013
	Total		Level 1		Level 2		Total		Level 1		Level 2
Assets
Cash equivalents	$	16,230	$	16,230	$	—	$	14,918	$	14,918	$	—
Marketable equity securities	$	117	$	117	$	—	$	88	$	88	$	—
Cash surrender value of life insurance	$	4,625	$	—	$	4,625	$	4,426	$	—	$	4,426

INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2014

INCOME TAXES [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income tax expense (benefit) consists of the following at July 31 (in thousands):



	2014			2013			2012
Current
Federal	$	1,267		$	5,446		$	(252	)
Foreign	63			19			358
State	308			578			(165		)
Current Income Tax Total	1,638			6,043			(59		)
Deferred
Federal	1,381			(2,984		)	2,038
Foreign	(215		)	(88		)	(171		)
State	177			(58		)	455
Deferred Income Tax Total	1,343			(3,130		)	2,322
Total Income Tax Expense	$	2,981		$	2,913		$	2,263

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Principal reasons for variations between the statutory federal rate and the effective rates were as follows for the years ended July 31:



	2014		2013		2012
U.S. federal income tax rate	34.0	%	34.0	%	34.0	%
Depletion deductions allowed for mining	(12.2	)	(9.7	)	(16.5	)
State income tax expense, net of federal tax expense	2.8		2.9		2.3
Difference in effective tax rate of foreign subsidiaries	0.9		(0.8	)	1.2
Empowerment zone credits	(0.5	)	(0.5	)	(1.7	)
Valuation allowance increase (decrease)	3.2		(7.8	)	11.4
Other	(1.9	)	(1.5	)	(3.6	)
Effective income tax rate	26.3	%	16.6	%	27.1	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The Consolidated Balance Sheets included the following tax effects of cumulative temporary differences as of July 31 (in thousands):



	2014					2013
	Assets			Liabilities		Assets ¹			Liabilities ¹
Depreciation	$	—		$	7,332	$	—		$	6,868
Deferred compensation	3,733			—		3,375			—
Postretirement benefits	7,651			—		5,741			—
Allowance for doubtful accounts	303			—		264			—
Deferred marketing expenses	—			10		—			9
Other assets	—			84		207			—
Accrued expenses	1,289			—		3,290			—
Tax credits	3,386			—		2,692			—
Amortization	—			229		—			356
Inventories	453			—		442			—
Depletion	—			488		—			503
Stock-based compensation	248			—		199			—
Reclamation	141			—		241			—
Other assets – foreign	930			—		640			—
Valuation allowance	(3,973		)	—		(3,205		)	—
Total deferred taxes	$	14,161		$	8,143	$	13,886		$	7,736

Summary of Income Tax Contingencies [Table Text Block]

Reconciliations of the beginning and ending amount of UTBs were as follows for the years ended July 31 (in thousands):



	2014			2013		2012
Gross balance – beginning of year	$	273		$	273	$	273
Gross decreases - tax positions from prior years	(273		)	—		—
Gross balance – end of year	$	—		$	273	$	273

STOCKHOLDERS EQUITY Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Jul. 31, 2014

Accumulated Other Comprehensive Income [Abstract]

Comprehensive Income (Loss) [Table Text Block]

The following table summarizes the changes in accumulated other comprehensive income by component as of July 31, 2014 (in thousands):



	Unrealized Gain on Marketable Securities		Pension and Postretirement Health Benefits				Cumulative Translation Adjustment			Total Accumulated Other Comprehensive Income
Balance as of July 31, 2013	$	86	$	(5,608	)		$	487		$	(5,035	)
Other comprehensive income (loss) before reclassifications, net of tax	28		(3,266		)		(232		)	(3,470		)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		242			a)	—			242
Net current-period other comprehensive income (loss), net of tax	28		(3,024		)		(232		)	(3,228		)
Balance as of July 31, 2014	$	114	$	(8,632	)		$	255		$	(8,263	)

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jul. 31, 2014

STOCK-BASED COMPENSATION [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

A summary of stock option transactions under the plans is shown below.



	Number of Shares (in thousands)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Options exercisable at July 31, 2011	184		$	10.94	2.8	$	1,793
Options non-vested at July 31, 2011	5		$	17.00
Options outstanding at July 31, 2011	189		$	11.10	2.8	$	1,882
Exercised	(42	)	$	8.34		$	515
Options outstanding and exercisable at July 31, 2012	147		$	11.89	2.2	$	1,473
Exercised	(87	)	$	10.25		$	1,385
Options outstanding and exercisable at July 31, 2013	60		$	14.25	2.3	$	1,059
Exercised	(8	)	$	12.47		$	151
Forfeited	(8	)	$	9.43
Options outstanding and exercisable at July 31, 2014	44		$	15.43	1.9	$	611

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following table summarizes information related to stock options outstanding and exercisable at July 31, 2014. All outstanding stock options were exercisable as of July 31, 2014.



Options Outstanding and Exercisable by Price Range as of July 31, 2014
Range of Exercise Prices					Outstanding and Exercisable (in thousands)	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price
$	13.51	-	$	15.00	25	1.9	$	14.82
$	15.01	-	$	16.50	9	1.6	$	15.37
$	16.51	-	$	17.00	10	2.3	$	17.00
$	13.51	-	$	17.00	44	1.9	$	15.43

Schedule of Share-based Compensation, Restricted Stock Activity [Table Text Block]

A summary of restricted stock transactions under the plans is shown below.



	Number of Shares (in thousands)		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)	Unamortized Expense (in thousands)
Non-vested restricted stock outstanding at July 31, 2011	139		$	21.54	4.0	$	2,446
Granted	28		$	20.95
Vested	(30	)	$	20.67
Forfeited	(5	)	$	19.61
Non-vested restricted stock outstanding at July 31, 2012	132		$	21.68	3.1	$	2,214
Granted	20		$	25.03
Vested	(34	)	$	21.75
Forfeited	(1	)	$	20.60
Non-vested restricted stock outstanding at July 31, 2013	117		$	22.24	2.1	$	1,824
Granted	51		$	34.18
Vested	(40	)	$	21.50
Forfeited	(6	)	$	25.41
Non-vested restricted stock outstanding at July 31, 2014	122		$	27.31	2.4	$	2,226

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Jul. 31, 2014

EMPLOYEE BENEFIT PLANS [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following tables provide a reconciliation of changes in the plans’ benefit obligations, assets’ fair values and funded status for the fiscal years ended July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation, beginning of year	$	36,866		$	41,839		$	2,441		$	2,585
Service cost	1,425			1,751			111			136
Interest cost	1,761			1,544			110			96
Actuarial loss (gain)	5,379			(7,324		)	114			(285		)
Plan amendments	—			—			—			(70		)
Benefits paid	(1,064		)	(944		)	(6		)	(21		)
Benefit obligation, end of year	44,367			36,866			2,770			2,441

Change in plan assets:
Fair value of plan assets, beginning of year	22,887			20,108			—			—
Actual return on plan assets	1,938			2,514			—			—
Employer contribution	1,043			1,209			6			21
Benefits paid	(1,064		)	(944		)	(6		)	(21		)
Fair value of plan assets, end of year	24,804			22,887			—			—
Funded status, recorded in Consolidated Balance Sheets	$	(19,563	)	$	(13,979	)	$	(2,770	)	$	(2,441	)

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

The following table shows amounts recognized in the Consolidated Balance Sheets as of July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2014			2013			2014			2013
Deferred income taxes	$	6,634		$	4,843		$	1,017		$	898
Other current liabilities	$	—		$	—		$	(60	)	$	(58	)
Other noncurrent liabilities	$	(19,563	)	$	(13,979	)	$	(2,710	)	$	(2,383	)
Accumulated other comprehensive income –net of tax:
Net actuarial loss	$	8,156		$	5,172		$	500		$	445
Prior service cost (income)	$	15		$	24		$	(39	)	$	(43	)
Net obligation at transition	$	—		$	—		$	—		$	10

Schedule of Net Benefit Costs [Table Text Block]

The following table shows the components of the net periodic pension and postretirement health benefit costs for the fiscal years ended July 31 (in thousands):



	Pension Cost									Postretirement Health Benefit Cost
	2014			2013			2012			2014			2013		2012
Service cost	$	1,425		$	1,751		$	1,324		$	111		$	136	$	104
Interest cost	1,761			1,544			1,617			110			96		105
Expected return on plan assets	(1,715		)	(1,510		)	(1,480		)	—			—		—
Amortization of:
Net transition obligation	—			—			—			16			15		15
Prior service costs (income)	13			15			15			(6		)	—		—
Other actuarial loss	343			884			317			24			53		30
Net periodic benefit cost	$	1,827		$	2,684		$	1,793		$	255		$	300	$	254

Schedule of Amounts Recognized in Other Comprehensive Income [Table Text Block]

The following table shows amounts, net of tax, that are recognized in other comprehensive income for the fiscal years ended July 31 (in thousands):



	Pension Benefits						Postretirement Health Benefits
	2014			2013			2014			2013
Net actuarial loss (gain)	$	3,196		$	(5,164	)	$	70		$	(177	)
Prior service cost establishment due to plan amendments	—			—			—			(43		)
Amortization of:
Prior service (cost) income	(8		)	(9		)	4			—
Net transition obligation	—			—			(10		)	(9		)
Amortization of actuarial loss	(213		)	(548		)	(15		)	(33		)
Total recognized in other comprehensive loss (income)	$	2,975		$	(5,721	)	$	49		$	(262	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The following table shows amortization amounts, net of tax, expected to be recognized in fiscal 2015 in accumulated other comprehensive income (in thousands):



Amortization of:	Pension Benefits		Postretirement Health Benefits
Net actuarial loss	$	372	$	23
Prior service cost (income)	6		(4		)
Total to be recognized as other comprehensive loss	$	378	$	19

Schedule of Expected Benefit Payments [Table Text Block]

The following table shows the estimated future benefit payments (in thousands):



	Pension Benefits		Postretirement Health Benefits
2015	$	1,208	$	60
2016	$	1,240	$	87
2017	$	1,327	$	106
2018	$	1,460	$	116
2019	$	1,543	$	139
2020-24	$	9,319	$	1,007

Schedule of Assumptions Used [Table Text Block]

The assumptions used in the previous calculations were as follows:



	Pension Benefits		Postretirement Health Benefits
	2014	2013	2014	2013
Discount rate for net periodic benefit costs	4.80%	3.75%	4.80%	3.75%
Discount rate for year-end obligations	4.28%	4.80%	3.87%	4.80%
Rate of increase in compensation levels for net periodic benefit costs	3.50%	3.50%	—	—
Rate of increase in compensation levels for year-end obligations	3.50%	3.50%	—	—
Long-term expected rate of return on assets	7.50%	7.50%	—	—

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]



	One-Percentage Point Increase	One-Percentage Point Decrease
Effect on total service and interest cost	$33	$(28)
Effect on accumulated postretirement benefit obligation	$337	$(293)

Schedule of Allocation of Plan Assets [Table Text Block]

The targeted allocation percentages of plan assets is shown below for fiscal 2015 and the actual allocation as of July 31:



Asset Allocation	Target fiscal 2015	2014	2013
Cash and accrued income	2%	5%	13%
Fixed income	38%	27%	25%
Equity	60%	67%	62%

Fair Value, Measurement Inputs, Disclosure [Text Block]

The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets carried at fair value as of July 31 (in thousands):



	Fair Value At July 31, 2014
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Class
Cash and Cash Equivalents^(a)	$	1,123	$	1,123	$	—	$	—
Equity securities^(b):
U.S. companies	10,168		10,168		—		—
International companies	2,698		2,698		—		—
Equity securities - international mutual funds:
Developed market^(c)	2,005		—		2,005		—
Emerging markets^(d)	351		—		351		—
Commodities^(e)	383		—		383		—
Fixed Income:
U.S. Treasuries	3,020		—		3,020		—
Corporate bonds^(f)	1,911		—		1,911		—
Floating rate debt^(k)	838		—		838		—
Government sponsored entities^(h)	376		—		376		—
Multi-strategy bond fund⁽ⁱ⁾	856		—		856		—
Other^(j)	1,075		—		1,075		—
Total	$	24,804	$	13,989	$	10,815	$	—



	Fair Value At July 31, 2013
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Class
Cash and Cash Equivalents^(a)	$	2,469	$	2,469	$	—	$	—
Equity securities^(b):
U.S. companies	8,962		8,933		29		—
International companies	1,901		1,901		—		—
Equity securities - international mutual funds:
Developed market^(c)	1,741		—		1,741		—
Emerging markets^(d)	567		—		567		—
Commodities^(e)	379		7		372		—
Fixed Income:
U.S. Treasuries	2,694		—		2,694		—
Corporate bonds^(f)	1,998		—		1,998		—
Emerging markets^(g)	666		—		666		—
Government sponsored entities^(h)	320		—		320		—
Multi-strategy bond fund⁽ⁱ⁾	624		—		624		—
Other^(j)	566		—		566		—
Total	$	22,887	$	13,310	$	9,577	$	—


(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 at least 80% of their assets in stocks of non- U.S. companies that are primarily in developed markets, however the fund allows up to 20% to be invested in emerging markets.


(d)	These mutual funds seek long-term capital growth by investing at least 80% of their assets in stocks of companies located in Asia, excluding Japan.


(e)	The majority of the investments in this class seek maximum real return by investing primarily in commodity-linked derivative instruments. Assets not invested in commodity-linked instruments may be invested in inflation-indexed securities and other fixed income instruments.


(f)	This class includes bonds of U.S. and non-U.S. issuers from diverse industries.


(g)	This class invests at least 80% of its net assets, plus any borrowing for investment purposes, directly in, or in derivative instruments that provide exposure to, emerging market bonds and other debt instruments denominated in the local currency of issue.


(h)	This class represents a beneficial ownership interest in a pool of single-family residential mortgage loans. These investments are not backed by the full faith and credit of the United States government.


(i)	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 50% of its net assets are invested in mortgage-backed securities. The fund may invest up to 33 1/3% of its net assets in high-yield bonds, bank loans and assignments and credit default swaps.


(j)	This class seek long-term positive returns by employing a number of arbitrage and alternative investment strategies. The portfolio of instruments may include equities, convertible securities, debt securities, warrants, options, swaps, future contracts, forwards or other types of derivative instruments.

(k)

LEASES (Tables)

12 Months Ended

Jul. 31, 2014

Leases [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]



2015	$	1,527
2016	$	1,263
2017	$	1,200
2018	$	1,046
2019	$	323
Later years	$	535

Schedule of Rent Expense [Table Text Block]



	2014		2013		2012
Vehicles and Railcars	$	1,818	$	1,885	$	2,029
Office facilities	890		844		848
Warehouse facilities	235		229		252
Mining properties:
Minimum	292		320		123
Contingent	162		120		302
Other	108		133		141
	$	3,505	$	3,531	$	3,695

OTHER CASH FLOW INFORMATION (Tables)

12 Months Ended

Jul. 31, 2014

OTHER CASH FLOW INFORMATION [Abstract]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

Cash payments for interest and income taxes were as follows for the fiscal years ended July 31 (in thousands):



	2014		2013		2012
Interest	$	1,078	$	1,351	$	1,607
Income taxes	$	3,022	$	5,064	$	993

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Jul. 31, 2014

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]

A summary of selected information for fiscal years 2014 and 2013 is as follows (in thousands, except for per share amounts):



	Fiscal 2014 Quarter Ended
	October 31		January 31		April 30		July 31		Fiscal 2014
Net Sales	$	63,546	$	69,305	$	67,417	$	66,045	$	266,313
Gross Profit	$	16,500	$	16,893	$	13,884	$	12,373	$	59,650
Net Income	$	2,887	$	4,281	$	722	$	466	$	8,356
Net Income Per Share
Basic Common	$	0.44	$	0.65	$	0.11	$	0.07	$	1.27
Basic Class B Common	$	0.33	$	0.49	$	0.08	$	0.05	$	0.96
Diluted	$	0.41	$	0.60	$	0.10	$	0.07	$	1.17
Dividends Per Share
Common	$	0.1900	$	0.1900	$	0.1900	$	0.2000	$	0.7700
Class B	$	0.1425	$	0.1425	$	0.1425	$	0.1500	$	0.5775
Common Stock Price Range
High	$	36.80	$	41.74	$	36.27	$	34.90
Low	$	30.35	$	32.90	$	31.24	$	28.71

	Fiscal 2013 Quarter Ended
	October 31		January 31		April 30		July 31		Fiscal 2013
Net Sales	$	61,417	$	61,122	$	64,152	$	63,892	$	250,583
Gross Profit	$	17,231	$	16,269	$	16,891	$	16,108	$	66,499
Net Income	$	4,452	$	2,146	$	3,251	$	4,737	$	14,586
Net Income Per Share
Basic Common	$	0.69	$	0.33	$	0.50	$	0.73	$	2.25
Basic Class B Common	$	0.52	$	0.25	$	0.37	$	0.55	$	1.69
Diluted	$	0.64	$	0.31	$	0.46	$	0.67	$	2.07
Dividends Per Share
Common	$	0.1800	$	0.3600	$	—	$	0.1900	$	0.7300
Class B	$	0.1350	$	0.2700	$	—	$	0.1425	$	0.5475
Common Stock Price Range
High	$	23.77	$	30.34	$	28.52	$	32.40
Low	$	21.26	$	20.82	$	23.92	$	25.30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Short-Term Investments (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Short-Term Investments
Short-Term Investments	$ 2,640	$ 18,459
U.S. Treasury Securities
Short-Term Investments
Short-Term Investments	0	8,999
Certificates of Deposit
Short-Term Investments
Short-Term Investments	$ 2,640	$ 9,460

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Inventories (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Finished goods	$ 14,326	$ 12,112
Packaging	5,402	4,003
Other	4,755	4,608
Inventories	$ 24,483	$ 20,723

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Intangible Assets Amortizatin Expense (Details) $ in Thousands	Jul. 31, 2014 USD ($)
Estimated Intangible Amortization Expense
2015	$ 1,581
2016	1,443
2017	1,188
2018	979
2019	$ 792

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Intangible Assets Weighted Average Amortization Period (Details)	12 Months Ended
	Jul. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Weighted Average Amortization Period	8 years 10 months 21 days
Trademarks and patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Weighted Average Amortization Period	4 years 6 months 12 days
Debt issuance costs
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Weighted Average Amortization Period	4 years 11 months 16 days
Licensing agreements and noncompete agreements
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Weighted Average Amortization Period	9 months 30 days
Customer list
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Weighted Average Amortization Period	9 years 3 months 5 days

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Property, Plant and Equipment (Details)	12 Months Ended
	Jul. 31, 2014
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	3 years
Minimum \| Office furniture, computers and equipment
Property, Plant and Equipment
Estimated useful life	2 years
Minimum \| Vehicles
Property, Plant and Equipment
Estimated useful life	3 years
Maximum \| Buildings and leasehold improvements
Property, Plant and Equipment
Estimated useful life	39 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, computers and equipment
Property, Plant and Equipment
Estimated useful life	12 years
Maximum \| Vehicles
Property, Plant and Equipment
Estimated useful life	15 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Narrative (Details) - USD ($)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Goodwill acquired during period	$ 3,872,000
Depreciation	$ 9,289,000	$ 8,603,000
Maximum maturity of cash equivalents	3 months
Inventory obsolescence reserves	$ 390,000	364,000
Stripping costs	4,179,000	2,187,000	$ 2,031,000
Pre-production overburden removal costs	0	0
Land	13,348,000	13,000,000
Mineral rights	2,165,000	2,165,000
Prepaid royalties	1,052,000	1,059,000
Pre-production development costs	0	0
Advertising expense	8,886,000	7,975,000	10,846,000
Shipping and handling costs	49,456,000	45,002,000	42,095,000
Research and development costs	2,587,000	2,620,000	$ 2,006,000
Amortization of Intangible Assets	1,107,000	$ 343,000
Indefinite-Lived Trademarks	$ 376,000
Minimum
Amortization period of intangible assets (years)	7 years
Maximum
Amortization period of intangible assets (years)	17 years

SPECIAL CHARGES (Details) - Severance and Other Employee Related Costs $ in Thousands	12 Months Ended
	Jul. 31, 2013 USD ($)
Capacity Rationalization Charges
Reserve balance, beginning	$ 413
Charges against reserve	(403)
Reserve adjustment	(10)
Reserve balance, ending	$ 0

SPECIAL CHARGES Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Capacity Rationalization Charges
Charges recognized in year	$ 0	$ 70	$ 1,623
Asset write-off
Capacity Rationalization Charges
Charges recognized in year			1,187
Severance and Other Employee Related Costs
Capacity Rationalization Charges
Charges recognized in year		$ 70	$ 436

ACQUISITION Consideration Transferred and Assets Acquired (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Nov. 02, 2013
Acquisition [Abstract]
Consideration transferred: Cash		$ 12,505
Contingent Consideration - Escrow		500
Contingent Consideration - Proceeds on land sale		(255)
Fair value of total consideration tansferred	$ 12,750
Identifiable assets acquired: Inventories		664
Identfiable assets acquired: Current assets		130
Identifiable assets acquired: Equipment		300
Identifiable assets Acquired: Customer list		7,784
Identifiable assets acquired: Total identifiable assets		$ 8,878
Goodwill	$ 3,872

ACQUISITION Proforma (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Business Acquisition
Proforma net sales	$ 271,279	$ 271,453
Proforma net income	$ 7,834	$ 13,387
Proforma net income per share - Diluted	$ 1.11	$ 1.90
Common Stock
Business Acquisition
Proforma net income per share - Basic	1.19	2.06
Common Class B
Business Acquisition
Proforma net income per share - Basic	$ 0.90	$ 1.55

ACQUISITION Narrative (Details) - USD ($)	12 Months Ended
ACQUISITION Narrative (Details) - USD ($)	Jul. 31, 2014	Nov. 02, 2013	Jul. 31, 2013
Acquired Finite-Lived Intangible Assets
Restricted cash remaining balance	$ 129,000		$ 0
Acquisition-related costs		$ 355,000
Net sales of acquiree since acquisition date	$ 10,100,000
Customer list
Acquired Finite-Lived Intangible Assets
Acquired finite-lived Intangible assets, useful life	10 years

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Segment Reporting Information
Assets	$ 186,204				$ 183,559				$ 186,204	$ 183,559	$ 174,267
Net Sales	66,045	$ 67,417	$ 69,305	$ 63,546	63,892	$ 64,152	$ 61,122	$ 61,417	266,313	250,583	240,681
Corporate Expenses									(17,804)	(22,359)	(19,039)
Capacity Rationalization Charges									0	(70)	(1,623)
Income from Operations									12,418	18,871	10,079
Total Other Expense, Net									(1,081)	(1,372)	(1,718)
Income before Income Taxes									11,337	17,499	8,361
Income Taxes									(2,981)	(2,913)	(2,263)
Net Income	466	$ 722	$ 4,281	$ 2,887	4,737	$ 3,251	$ 2,146	$ 4,452	8,356	14,586	6,098
Business to Business Products
Segment Reporting Information
Assets	53,823				53,721				53,823	53,721	44,250
Segment Net Sales									94,286	92,969	85,456
Segment Income									26,654	30,739	28,643
Retail and Wholesale Products
Segment Reporting Information
Assets	95,712				76,376				95,712	76,376	79,658
Segment Net Sales									172,027	157,614	155,225
Segment Income									3,568	10,561	2,098
Unallocated Assets
Segment Reporting Information
Assets	$ 36,669				$ 53,462				$ 36,669	$ 53,462	$ 50,359

OPERATING SEGMENTS Financial Information by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Financial Information by Geographic Region
Sales to unaffiliated customers	$ 66,045	$ 67,417	$ 69,305	$ 63,546	$ 63,892	$ 64,152	$ 61,122	$ 61,417	$ 266,313	$ 250,583	$ 240,681
Income (Loss) before income taxes									11,337	17,499	8,361
Net Income (Loss)	466	$ 722	$ 4,281	$ 2,887	4,737	$ 3,251	$ 2,146	$ 4,452	8,356	14,586	6,098
Identifiable assets	186,204				183,559				186,204	183,559	174,267
Foreign subsidiaries
Financial Information by Geographic Region
Sales to unaffiliated customers									11,246	11,928	11,299
Income (Loss) before income taxes									(872)	(245)	(1,021)
Net Income (Loss)									(708)	(176)	(876)
Identifiable assets	8,143				8,298				8,143	8,298	8,702
Domestic Operations
Financial Information by Geographic Region
Sales to unaffiliated customers									255,067	238,655	229,382
Sales or transfers between geographic areas									4,285	4,624	4,440
Income (Loss) before income taxes									12,209	17,744	9,382
Net Income (Loss)									9,064	14,762	6,974
Identifiable assets	$ 178,061				$ 175,261				$ 178,061	$ 175,261	$ 165,565

OPERATING SEGMENTS Largest Customer (Details)	12 Months Ended
OPERATING SEGMENTS Largest Customer (Details)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Revenue, Major customer
Net sales for the years ended July 31	19.00%	20.00%	22.00%
Net accounts receivable as of July 31	28.00%	30.00%	32.00%

OPERATING SEGMENTS Narrative (Details) - segment	12 Months Ended
OPERATING SEGMENTS Narrative (Details) - segment	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Segment Reporting Information
Number of Reportable Segments	2
Net sales for the years ended July 31	19.00%	20.00%	22.00%
Walmart
Segment Reporting Information
Net sales for the years ended July 31	19.00%	20.00%	22.00%
Clorox
Segment Reporting Information
Net sales for the years ended July 31	6.00%	7.00%	7.00%

NOTES PAYABLE Notes Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Debt Instrument
Notes Payable, current and noncurrent	$ 22,400	$ 25,900
Current maturities of notes payable	(3,500)	(3,500)
Notes payable, noncurrent	18,900	22,400
Prudential Insurance Company of America and other parties
Debt Instrument
Notes Payable, current and noncurrent	$ 18,500	18,500
Annual rate	3.96%
Annual Principal Installments	$ 3,083
Starting payments	Aug. 01, 2015
Ending payments	Aug. 01, 2020
The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company
Debt Instrument
Notes Payable, current and noncurrent	$ 3,900	$ 7,400
Annual rate	5.89%
Principal payment due October 15, 2014
Debt Instrument
Annual Principal Installments	$ 3,500
Principal payment due October 15, 2015
Debt Instrument
Annual Principal Installments	$ 400

NOTES PAYABLE Maturities of Notes Payable (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Notes Payable Maturities
2015	$ 3,500
2016	3,483
2017	3,083
2018	3,083
2019	3,083
Later years	6,168
Notes Payable	$ 22,400	$ 25,900

NOTES PAYABLE Notes Payable (Narrative) (Details) - USD ($)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Prudential Insurance Company of America and other parties
Debt Instrument
Face amount	$ 18,500,000
Interest rate	3.96%
Maturity date	Aug. 01, 2020
The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company
Debt Instrument
Face amount	$ 15,000,000
Interest rate	5.89%
Maturity date	Oct. 15, 2015
Minimum overdue financial obligation considered as default	$ 5,000,000
Line of Credit, BMO Harris
Debt Instrument
Initiation date	Dec. 21, 2011
Maximum borrowing capacity	$ 15,000,000
Expiration date	Dec. 31, 2014
Variable interest rate, prime based	3.25%
Variable interest rate, LIBOR based	1.56%
Line of credit amount outstanding	$ 0	$ 0
Minimum overdue financial obligation considered as default	1,000,000
Consolidated net worth covenant base	$ 56,760,000
Consolidated net worth covenant - additional % cumulative quarterly earnings	25.00%
Consolidated net worth covenant - cumulative quarterly earnings commencement date	Jan. 31, 2006

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 16,230	$ 14,918
Marketable equity securities	117	88
Cash surrender value of life insurance	4,625	4,426
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	16,230	14,918
Marketable equity securities	117	88
Cash surrender value of life insurance	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Marketable equity securities	0	0
Cash surrender value of life insurance	$ 4,625	$ 4,426

FINANCIAL INSTRUMENTS Narrative (Details) - USD ($)	Jul. 31, 2014	Jul. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	$ 23,940,000	$ 27,514,000

INCOME TAXES Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Current Federal	$ 1,267	$ 5,446	$ (252)
Current Foreign	63	19	358
Current State	308	578	(165)
Current Income Tax Total	1,638	6,043	(59)
Deferred Federal	1,381	(2,984)	2,038
Deferred Foreign	(215)	(88)	(171)
Deferred State	177	(58)	455
Deferred Income Tax Total	1,343	(3,130)	2,322
Total Income Tax Expense	$ 2,981	$ 2,913	$ 2,263

INCOME TAXES Income Tax Effective Rate Reconciliation (Details)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
U.S. federal income tax rate	34.00%	34.00%	34.00%
Depletion deductions allowed for mining	(12.20%)	(9.70%)	(16.50%)
State income tax expense, net of federal tax expense	2.80%	2.90%	2.30%
Difference in effective tax rate of foreign subsidiaries	0.90%	(0.80%)	1.20%
Empowerment zone credits	(0.50%)	(0.50%)	(1.70%)
Valuation allowance increase (decrease)	3.20%	(7.80%)	11.40%
Other	(1.90%)	(1.50%)	(3.60%)
Effective income tax rate	26.30%	16.60%	27.10%

INCOME TAXES Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Deferred Tax Asset
Depreciation	$ 0	$ 0
Deferred compensation	3,733	3,375
Postretirement benefits	7,651	5,741
Allowance for doubtful accounts	303	264
Deferred marketing expenses	0	0
Other assets	0	(207)
Accrued expenses	1,289	3,290
Tax credits	3,386	2,692
Amortization	0	0
Inventories	453	442
Depletion	0	0
Stock-based compensation	248	199
Reclamation	141	241
Other assets - foreign	930	640
Valuation allowance	3,973	3,205
Total deferred tax assets	14,161	13,886
Deferred Tax Liability
Depreciation	7,332	6,868
Deferred compensation	0	0
Postretirement benefits	0	0
Allowance for doubtful accounts	0	0
Deferred marketing expenses	10	9
Other assets	84	0
Accrued expenses	0	0
Tax credits	0	0
Amortization	229	356
Inventories	0	0
Depletion	488	503
Stock-based compensation	0	0
Reclamation	0	0
Other assets - foreign	0	0
Valuation allowance	0	0
Total deferred tax liabilities	$ 8,143	$ 7,736

INCOME TAXES Unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Income Tax Contingency
Gross balance - beginning of year	$ 273	$ 273	$ 273
Gross decreases - tax positions from prior years	(273)	0	0
Gross balance - end of year	$ 0	$ 273	$ 273

INCOME TAXES Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES Narrative (Details) - USD ($)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2011
Deferred tax asset attribute to alternative minimum tax carryforward added/(utilized)	$ 693,000	$ (1,369,000)
AMT credit and foreign net operating loss carryforward	3,973,000
Unrecognized tax benefits, penalties and interest expense	0
Unrecognized tax benefits, penalties and interest accrued	0
Unrecognized Tax Benefits	$ 0	$ 273,000	$ 273,000	$ 273,000
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

INCOME TAXES Error Correction (Details)	12 Months Ended
INCOME TAXES Error Correction (Details)	Jul. 31, 2014 USD ($)
Foreign Deferred Tax Disclosure Error
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Amount of correction to previously disclosed foreign DTA	$ 1,494,000

STOCKHOLDERS EQUITY Accumulated Other Comprehensive Income (Details) - USD ($)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), beginning balance	$ (5,035,000)
Other comprehensive income (loss), before reclassifications, net of tax	(3,470,000)
Amounts reclassified from accumulated other comprehensive income, net of tax	242,000
Other Comprehensive (Loss) Income	(3,228,000)	$ 5,911,000	$ (6,501,000)
Accumulated Other Comprehensive Income (Loss), ending balance	(8,263,000)	(5,035,000)
AOCI: Net Unrealized Gain on Marketable Securities
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), beginning balance	86,000
Other comprehensive income (loss), before reclassifications, net of tax	28,000
Amounts reclassified from accumulated other comprehensive income, net of tax	0
Other Comprehensive (Loss) Income	28,000
Accumulated Other Comprehensive Income (Loss), ending balance	114,000	86,000
AOCI: Pension and Postretirement Health Benefits
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), beginning balance	(5,608,000)
Other comprehensive income (loss), before reclassifications, net of tax	(3,266,000)
Amounts reclassified from accumulated other comprehensive income, net of tax	242,000
Other Comprehensive (Loss) Income	(3,024,000)
Accumulated Other Comprehensive Income (Loss), ending balance	(8,632,000)	(5,608,000)
Tax on amount reclassified from AOCI, Pension and postretirement health benefits	148,000
AOCI: Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), beginning balance	487,000
Other comprehensive income (loss), before reclassifications, net of tax	(232,000)
Amounts reclassified from accumulated other comprehensive income, net of tax	0
Other Comprehensive (Loss) Income	(232,000)
Accumulated Other Comprehensive Income (Loss), ending balance	$ 255,000	$ 487,000

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

STOCKHOLDERS EQUITY Narrative (Details)	12 Months Ended
STOCKHOLDERS EQUITY Narrative (Details)	Jul. 31, 2014 USD ($) votes $ / shares shares	Jul. 31, 2013 $ / shares shares
Stockholders' Equity
Par Value Per Share \| $ / shares	$ 0.10	$ 0.10
Relative Total Dividend Rate - Common Stock Plus Class A Versus Class A Plus Class B Stock	133.00%
Number of Shares Authorized to be Repurchased	3,666,771
Common Stock
Stockholders' Equity
Shares Authorized	15,000,000	15,000,000
Par Value Per Share \| $ / shares	$ 0.10	$ 0.10
Voting Rights Per Share \| votes	1
Relative Dividend Rate - Common Stock Versus Class B Stock	133.00%
Shares Repurchased, Board Approved, Cummulative	3,014,917
Common Class B
Stockholders' Equity
Shares Authorized	7,000,000	7,000,000
Par Value Per Share \| $ / shares	$ 0.10	$ 0.10
Voting Rights Per Share \| votes	10
Shares Repurchased, Board Approved, Cummulative	342,241
Class A Common Stock
Stockholders' Equity
Shares Authorized	30,000,000	30,000,000
Shares Outstanding	0
Voting Rights Per Share \| votes	0
Accumulated Defined Benefit Plans Adjustment [Member]
Stockholders' Equity
Tax on amount reclassified from AOCI, Pension and postretirement health benefits \| $	$ 148,000

STOCK-BASED COMPENSATION (Summary of Option Activity) (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2011
Summary of Share-based Award Activity
Options outstanding, Number	44	60	147	189
Options outstanding, Weighted Average Exercise Price	$ 15.43	$ 14.25	$ 11.89	$ 11.10
Options outstanding, Weighted Average Remaining Contractual Term	1 year 10 months 24 days	2 years 3 months 19 days	2 years 2 months 13 days	2 years 9 months 22 days
Options outstanding, Aggregate Intrinsic Value	$ 611	$ 1,059	$ 1,473	$ 1,882
Options exercisable, Number	44	60	147	184
Options exercisable, Weighted Average Exercise Price	$ 15.43	$ 14.25	$ 11.89	$ 10.94
Options exercisable, Weighted Average Remaining Contractual Term	1 year 10 months 24 days	2 years 3 months 19 days	2 years 2 months 13 days	2 years 9 months 22 days
Options exercisable, Aggregate Intrinsic Value	$ 611	$ 1,059	$ 1,473	$ 1,793
Options nonvested, Number				5
Options nonvested, Weighted Average Exercise Price				$ 17.00
Exercised, Number	(8)	(87)	(42)
Exercised, Weighted Average Exercise Price	$ 12.47	$ 10.25	$ 8.34
Exercised, Aggregate Intrinsic Value	$ 151	$ 1,385	$ 515
Options forfeited, number	(8)
Options forfeited, Weighted Average Exercise Price	$ 9.43

STOCK-BASED COMPENSATION (Summary Related to Options Outstanding and Exercisable) (Details) shares in Thousands	12 Months Ended
	Jul. 31, 2014 $ / shares shares
Share-based Compensation, Options Outstanding and Exercisable, by Exercise Price Range
Outstanding and Exercisable, Number \| shares	44
Weighted Average Remaining Contractual Life	1 year 10 months 24 days
Weighted Average Exercise Price	$ 15.43
Range of Exercise Prices, Lower Limit	13.51
Range of Exercise Prices, Upper Limit	$ 17.00
$13.51 - $15.00
Share-based Compensation, Options Outstanding and Exercisable, by Exercise Price Range
Outstanding and Exercisable, Number \| shares	25
Weighted Average Remaining Contractual Life	1 year 10 months 14 days
Weighted Average Exercise Price	$ 14.82
Range of Exercise Prices, Lower Limit	13.51
Range of Exercise Prices, Upper Limit	$ 15.00
$15.01 - $16.50
Share-based Compensation, Options Outstanding and Exercisable, by Exercise Price Range
Outstanding and Exercisable, Number \| shares	9
Weighted Average Remaining Contractual Life	1 year 7 months 15 days
Weighted Average Exercise Price	$ 15.37
Range of Exercise Prices, Lower Limit	15.01
Range of Exercise Prices, Upper Limit	$ 16.50
$16.51 - $17.00
Share-based Compensation, Options Outstanding and Exercisable, by Exercise Price Range
Outstanding and Exercisable, Number \| shares	10
Weighted Average Remaining Contractual Life	2 years 3 months 23 days
Weighted Average Exercise Price	$ 17.00
Range of Exercise Prices, Lower Limit	16.51
Range of Exercise Prices, Upper Limit	$ 17.00

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, 2014	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2011
Summary of Restricted Stock Activity
Nonvested restricted stock outstanding, Number	122	117	132	139
Nonvested restricted stock outstanding, Weighted Average Grant Date Fair Value	$ 27.31	$ 22.24	$ 21.68	$ 21.54
Nonvested restricted stock outstanding, Weighted Average Remaining Contractual Term (years)	2 years 5 months 10 days	2 years 1 month 6 days	3 years 1 month 6 days	4 years
Nonvested retricted stock outstanding, Unamortized Expense	$ 2,226	$ 1,824	$ 2,214	$ 2,446
Granted, Number	51	20	28
Granted, Weighted Average Grant Date Fair Value	$ 34.18	$ 25.03	$ 20.95
Vested, Number	(40)	(34)	(30)
Vested, Weighted Average Grant Date Fair Value	$ 21.50	$ 21.75	$ 20.67
Forfeitures, Number	(6)	(1)	(5)
Forfeitures, Weighted Average Grant Date Fair Value	$ 25.41	$ 20.60	$ 19.61

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Stock Options
Share-based Compensation Award Disclosure
Fair value calculation, volatility calculation period (years)	5 years
Options expiration term (years)	10 years
Cash received from exercise of stock options	$ 93,000	$ 2,271,000	$ 866,000
Tax benefit realized from exercise of stock options	39,000	613,000	234,000
Nonvested awards, unamortized compensation expense	0	0	0
Share-based compensation expense	0	0	4,000
Restricted Stock
Share-based Compensation Award Disclosure
Share-based compensation expense	880,000	631,000	519,000
Tax Benefit from Compensation Expense	$ 309,000	$ 233,000	$ 201,000
1995 Plan
Share-based Compensation Award Disclosure
Annual vesting percentage	25.00%
Number of years after grant date vesting starts (years)	2 years
Number of consecutive years vesting occurs after initial vest date (years)	3 years
Number of shares available for grant	0
2006 Plan
Share-based Compensation Award Disclosure
Number of shares authorized	937,500
Number of shares available for grant	552,304
2006 Plan - Employee Stock Options
Share-based Compensation Award Disclosure
Annual vesting percentage	25.00%
Number of years after grant date vesting starts (years)	2 years
Number of consecutive years vesting occurs after initial vest date (years)	3 years
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
Director Stock Option
Share-based Compensation Award Disclosure
Award vesting period (years)	1 year
Directors' Plan
Share-based Compensation Award Disclosure
Number of shares available for grant	0
Award vesting period (years)	1 year

PENSION AND OTHER POSTRETIREMENT BENEFITS Change in Benefit Obligation and Plan Assets, Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Defined Benefit Plans and Postretirement Health Benefits
Fair value of plan assets. beginning of year	$ 22,887
Fair value of plan assets. end of year	24,804	$ 22,887
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Benefit obligation, beginning of year	36,866	41,839
Service cost	1,425	1,751	$ 1,324
Interest cost	1,761	1,544	1,617
Actuarial loss (gain)	5,379	(7,324)
Plan amendments	0	0
Benefits paid	(1,064)	(944)
Benefit obligation, end of year	44,367	36,866	41,839
Fair value of plan assets. beginning of year	22,887	20,108
Actual return on plan assets	1,938	2,514
Employer contribution	1,043	1,209
Benefits paid	(1,064)	(944)
Fair value of plan assets. end of year	24,804	22,887	20,108
Funded status, recorded in Consolidated Balance Sheets	(19,563)	(13,979)
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Benefit obligation, beginning of year	2,441	2,585
Service cost	111	136	104
Interest cost	110	96	105
Actuarial loss (gain)	114	(285)
Plan amendments	0	(70)
Benefits paid	(6)	(21)
Benefit obligation, end of year	2,770	2,441	2,585
Fair value of plan assets. beginning of year	0	0
Actual return on plan assets	0	0
Employer contribution	6	21
Benefits paid	(6)	(21)
Fair value of plan assets. end of year	0	0	$ 0
Funded status, recorded in Consolidated Balance Sheets	$ (2,770)	$ (2,441)

PENSION AND OTHER POSTRETIREMENT BENEFITS Amounts Recognized in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jul. 31, 2014	Jul. 31, 2013
Defined Benefit Plans and Postretirement Health Benefits
Other noncurrent Liabilities	$ (22,273)	$ (16,362)
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Deferred income tax	6,634	4,843
Other current liabilities	0	0
Other noncurrent Liabilities	(19,563)	(13,979)
Accumulated other comprehensive income - net of tax, Net actuarial loss	8,156	5,172
Accumulated other comprehensive income - net of tax, Prior service cost (income)	15	24
Accumulated other comprehensive income - net of tax, Net obligation at transition	0	0
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Deferred income tax	1,017	898
Other current liabilities	(60)	(58)
Other noncurrent Liabilities	(2,710)	(2,383)
Accumulated other comprehensive income - net of tax, Net actuarial loss	500	445
Accumulated other comprehensive income - net of tax, Prior service cost (income)	(39)	(43)
Accumulated other comprehensive income - net of tax, Net obligation at transition	$ 0	$ 10

PENSION AND OTHER POSTRETIREMENT BENEFITS Components of net periodic benefit cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Service cost	$ 1,425	$ 1,751	$ 1,324
Interest cost	1,761	1,544	1,617
Expected return on plan assets	(1,715)	(1,510)	(1,480)
Amortization of: Net transition obligations	0	0	0
Amortization of: Prior service costs (income)	13	15	15
Amortization of: Other actuarial loss	343	884	317
Net periodic benefit cost	1,827	2,684	1,793
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Service cost	111	136	104
Interest cost	110	96	105
Expected return on plan assets	0	0	0
Amortization of: Net transition obligations	16	15	15
Amortization of: Prior service costs (income)	(6)	0	0
Amortization of: Other actuarial loss	24	53	30
Net periodic benefit cost	$ 255	$ 300	$ 254

PENSION AND OTHER POSTRETIREMENT BENEFITS Amounts recognized in other comprehensive income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Defined Benefit Plans and Postretirement Health Benefits
Total recognized in other comprehensive loss (income)	$ 3,024	$ (5,983)	$ 6,276
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Net actuarial loss (gain)	3,196	(5,164)
Prior service cost established due to plan amendments	0	0
Amortization of: Prior service (cost) income	(8)	(9)
Amortization of: Net transition obligation	0	0
Amortization of actuarial loss	(213)	(548)
Total recognized in other comprehensive loss (income)	2,975	(5,721)
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Net actuarial loss (gain)	70	(177)
Prior service cost established due to plan amendments	0	(43)
Amortization of: Prior service (cost) income	4	0
Amortization of: Net transition obligation	(10)	(9)
Amortization of actuarial loss	(15)	(33)
Total recognized in other comprehensive loss (income)	$ 49	$ (262)

PENSION AND OTHER POSTRETIREMENT BENEFITS Amounts to be recognized in other comprehensive income in the next fiscal year (Details) $ in Thousands	12 Months Ended
	Jul. 31, 2014 USD ($)
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Amortization of: Net actuarial loss	$ 372
Amortization of: Prior service cost (income)	6
Total to be recognized in other comprehensive loss	378
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Amortization of: Net actuarial loss	23
Amortization of: Prior service cost (income)	(4)
Total to be recognized in other comprehensive loss	$ 19

PENSION AND OTHER POSTRETIREMENT BENEFITS Estimated future benefit payments (Details) $ in Thousands	Jul. 31, 2014 USD ($)
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
2015	$ 1,208
2016	1,240
2017	1,327
2018	1,460
2019	1,543
2020-24	9,319
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
2015	60
2016	87
2017	106
2018	116
2019	139
2020-24	$ 1,007

PENSION AND OTHER POSTRETIREMENT BENEFITS Assumptions used in calculations (Details)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Pension Benefits
Defined Benefit Plans and Postretirement Health Benefits
Discount rate for net periodic benefit costs	4.80%	3.75%
Discount rate for year-end obligations	4.28%	4.80%
Rate of increase in compensation levels for net periodic benefit costs	3.50%	3.50%
Rate of increase in compensation levels for year-end obligations	3.50%	3.50%
Long-term expected rate of return on assets	7.50%	7.50%
Postretirement Health Benefits
Defined Benefit Plans and Postretirement Health Benefits
Discount rate for net periodic benefit costs	4.80%	3.75%
Discount rate for year-end obligations	3.87%	4.80%
Rate of increase in compensation levels for net periodic benefit costs	0.00%	0.00%
Rate of increase in compensation levels for year-end obligations	0.00%	0.00%
Long-term expected rate of return on assets	0.00%	0.00%

PENSION AND OTHER POSTRETIREMENT BENEFITS Effect of one-percentage point change in assumed healthcare trend (Details) $ in Thousands	12 Months Ended
	Jul. 31, 2014 USD ($)
Defined Benefit Plans and Postretirement Health Benefits
Effect of One Percentage Point Increase on total service and interest cost	$ 33
Effect of One Percentage Point Decrease on total service and interest cost	(28)
Effect of One Percentage Point Increase on accumulated postretirement benefit obligation	337
Effect of One Percentage Point Decrease on accumulated postretirement benefit obligation	$ (293)

PENSION AND OTHER POSTRETIREMENT BENEFITS Plan Assets Allocation Percentages (Details)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Cash and accrued income
Defined Benefit Plan Disclosure
Target Allocation %	2.00%
Actual Allocation %	5.00%	13.00%
Fixed Income
Defined Benefit Plan Disclosure
Target Allocation %	38.00%
Actual Allocation %	27.00%	25.00%
Equity
Defined Benefit Plan Disclosure
Target Allocation %	60.00%
Actual Allocation %	67.00%	62.00%

PENSION AND OTHER POSTRETIREMENT BENEFITS Fair value level of pension plan assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 24,804	$ 22,887
Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	13,989	13,310
Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	10,815	9,577
Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Cash and Cash Equivalents
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	1,123	2,469
Cash and Cash Equivalents \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	1,123	2,469
Cash and Cash Equivalents \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Cash and Cash Equivalents \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Equity securities U.S. companies
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	10,168	8,962
Equity securities U.S. companies \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	10,168	8,933
Equity securities U.S. companies \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	29
Equity securities U.S. companies \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Equity securities International companies
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	2,698	1,901
Equity securities International companies \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	2,698	1,901
Equity securities International companies \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Equity securities International companies \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Equity securities - international mutual funds: Developed market
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 2,005	$ 1,741
Minimum % of Fund Assets Invested in Non-US Stocks Developed Market	80.00%	80.00%
Maximum % of Fund Assets Invested in Non-US Stocks Emerging Markets	20.00%	20.00%
Equity securities - international mutual funds: Developed market \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 0	$ 0
Equity securities - international mutual funds: Developed market \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	2,005	1,741
Equity securities - international mutual funds: Developed market \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Equity securities - international mutual funds: Emerging market
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 351	$ 567
Minimum % of Fund Assets Invested Primarily in Asian Stocks excluding Japan	80.00%	80.00%
Equity securities - international mutual funds: Emerging market \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 0	$ 0
Equity securities - international mutual funds: Emerging market \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	351	567
Equity securities - international mutual funds: Emerging market \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Commodities
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	383	379
Commodities \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	7
Commodities \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	383	372
Commodities \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: U.S. Treasuries
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	3,020	2,694
Fixed Income: U.S. Treasuries \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: U.S. Treasuries \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	3,020	2,694
Fixed Income: U.S. Treasuries \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: Corporate bonds
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	1,911	1,998
Fixed Income: Corporate bonds \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: Corporate bonds \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	1,911	1,998
Fixed Income: Corporate bonds \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: Floating rate debt
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 838
Minimum % of Fund Assets Invested in Floating Rate Debt	80.00%
Maximum % of Fund Assets Invested in Debt Securities Lower Than Senior Claim	20.00%
Maximum % of Fund Assets Invested in Senior Loans to Non-US Borrowers	20.00%
Fixed Income: Emerging markets
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets		$ 666
Minimum % of Fund Assets Invested in Derivative, Emerging Markets or Other Debt Instruments	80.00%	80.00%
Fixed Income: Emerging markets \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 0	$ 0
Fixed Income: Emerging markets \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	838	666
Fixed Income: Emerging markets \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: Government sponsored entities
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	376	320
Fixed Income: Government sponsored entities \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: Government sponsored entities \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	376	320
Fixed Income: Government sponsored entities \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Fixed Income: Multi-strategy bond fund
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 856	$ 624
Minimum % of Fund Assets Invested in Bonds and Other Fixed Income	80.00%	80.00%
Minimum % of Fund Assets Invested in Mortgage-Backed Securities	50.00%	50.00%
Maximum % of Fund Invested in High-Yield Investments	33.00%	33.00%
Fixed Income: Multi-strategy bond fund \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 0	$ 0
Fixed Income: Multi-strategy bond fund \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	856	624
Fixed Income: Multi-strategy bond fund \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Other
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	1,075	566
Other \| Level 1
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	0	0
Other \| Level 2
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	1,075	566
Other \| Level 3
Defined Benefit Plan Disclosure
Defined Benefit Plan, Fair Value of Plan Assets	$ 0	$ 0

PENSION AND OTHER POSTRETIREMENT BENEFITS Narrative (Details) - USD ($)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Accumulated benefit obligation	$ 37,813,000	$ 31,841,000
Pension plan estimated employer contributions in next fiscal year	$ 1,856,000
Postretirement Health Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Health care cost trend rate assumed	8.00%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	5.00%
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate	2024
401(k) Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Contribution to defined contribution plans	$ 814,000	$ 708,000	$ 673,000

DEFERRED COMPENSATION (Details) - USD ($)	12 Months Ended
DEFERRED COMPENSATION (Details) - USD ($)	Jul. 31, 2014	Jul. 31, 2013
Deferred Compensation
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Annual Total Amount Deferred	$ 542,000	$ 542,000
Deferred Compensation Interest Expense	431,000	412,000
Deferred Compensation Payments to Participants	418,000	465,000
Deferred Compensation Recorded Liability	$ 8,161,000	7,813,000
Deferred Executive Bonus
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Deferred Compensation Employer Awards		877,000
Deferred Compensation Vesting Period (years)	3
Supplemental Employee Retirement Plans, Defined Benefit
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Supplemental Executive Retirement Plan Liability	$ 1,255,000	1,039,000
Supplemental Executive Retirement Plan Expense (Income)	$ 215,000	$ (202,000)

LEASES Future minimum rental (Details) $ in Thousands	Jul. 31, 2014 USD ($)
Future Minimum Rental Requirements
2015	$ 1,527
2016	1,263
2017	1,200
2018	1,046
2019	323
Later years	$ 535

LEASES Rental Expense for all operating leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Total Rental Expense
Rent Expense, Total	$ 3,505	$ 3,531	$ 3,695
Vehicles and Railcars
Total Rental Expense
Rent Expense	1,818	1,885	2,029
Office facilities
Total Rental Expense
Rent Expense	890	844	848
Warehouse facilities
Total Rental Expense
Rent Expense	235	229	252
Mining properties
Total Rental Expense
Rent Expense, Minimum	292	320	123
Rent Expense, Contingent	162	120	302
Other
Total Rental Expense
Rent Expense	$ 108	$ 133	$ 141

LEASES Narrative (Details)	Jul. 31, 2014 USD ($)
Narrative [Abstract]
Capital lease obligations, current	$ 1,330,000
Capital leased assets, gross	1,523,000
Capital leases, accumulated depreciation	$ 32,000

OTHER CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Interest	$ 1,078	$ 1,351	$ 1,607
Income Taxes	$ 3,022	$ 5,064	$ 993

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Net Sales	$ 66,045	$ 67,417	$ 69,305	$ 63,546	$ 63,892	$ 64,152	$ 61,122	$ 61,417	$ 266,313	$ 250,583	$ 240,681
Gross Profit	12,373	13,884	16,893	16,500	16,108	16,891	16,269	17,231	59,650	66,499	59,005
Net Income	$ 466	$ 722	$ 4,281	$ 2,887	$ 4,737	$ 3,251	$ 2,146	$ 4,452	$ 8,356	$ 14,586	$ 6,098
Net Income Per Share, Diluted	$ 0.07	$ 0.10	$ 0.60	$ 0.41	$ 0.67	$ 0.46	$ 0.31	$ 0.64	$ 1.17	$ 2.07	$ 0.85
Common Stock
Net Income Per Share, Basic	0.07	0.11	0.65	0.44	0.73	0.50	0.33	0.69	1.27	2.25	0.92
Dividends Per Share	0.2000	0.1900	0.1900	0.1900	0.1900	0.0000	0.3600	0.1800	0.7700	0.7300
Common Stock Price Range, High	34.90	36.27	41.74	36.80	32.40	28.52	30.34	23.77
Common Stock Price Range, Low	28.71	31.24	32.90	30.35	25.30	23.92	20.82	21.26
Common Class B
Net Income Per Share, Basic	0.05	0.08	0.49	0.33	0.55	0.37	0.25	0.52	0.96	1.69	$ 0.70
Dividends Per Share	$ 0.1500	$ 0.1425	$ 0.1425	$ 0.1425	$ 0.1425	$ 0.0000	$ 0.2700	$ 0.1350	$ 0.5775	$ 0.5475