PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jul. 31, 2013

4. PROPERTY AND EQUIPMENT, NET

Property and equipment consists of the following (in thousands):

	Year Ended July 31,

	2013			2012
Leasehold improvements	$	223,424		$	229,524
Furniture and fixtures		452,923			463,911
Construction in progress		5,555			3,050

		681,902			696,485
Less accumulated depreciation and amortization		(573,027	)		(574,361	)

	$	108,875		$	122,124

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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