DEFERRED REVENUE (Tables)

9 Months Ended

Apr. 30, 2014

DEFERRED REVENUE

Schedule of change in deferred revenue associated with the sale of warranties

The change in deferred revenue associated with the sale of warranties is as follows (in thousands):

	Three Months Ended April 30,						Nine Months Ended April 30,
	2014			2013			2014			2013
Deferred revenue, beginning of period	$	186,671		$	202,477		$	191,245		$	208,516
Warranties sold(a)		33,135			31,727			102,976			101,276
Revenue recognized		(35,925	)		(36,090	)		(110,340	)		(111,678	)
Deferred revenue, end of period	$	183,881		$	198,114		$	183,881		$	198,114

(a)

Warranty sales for the nine months ended April 30, 2014 include approximately $1.8 million related to the depreciation in the Canadian currency rate on the beginning of the period deferred revenue balance. The change in the Canadian currency rate did not have a significant impact on the beginning of the period deferred revenue balance for the three months ended April 30, 2014 and 2013 or the nine months ended April 30, 2013.