Fair Value Measurements (Tables)

12 Months Ended

Jul. 31, 2020

Schedule of fair values of financial instruments measured on a recurring basis

The fair values of our financial instruments measured on a recurring basis were categorized as follows:


	July 31, 2020
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Money markets	$	106	$	—	$	—	$	106
Total assets	$	106	$	—	$	—	$	106

Accrued expenses:
Interest rate swap	$	—	$	5,462	$	—	$	5,462
Contingent consideration	—		—		—		—
Other long-term liabilities:
Interest rate swap	—		15,694		—		15,694
Total liabilities	$	—	$	21,156	$	—	$	21,156


	July 31, 2019
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Money markets	$	104	$	—	$	—	$	104
Prepaid expenses and other current assets:
Interest rate swap	—		486		—		486
Other assets:
Interest rate swap	—		2,826		—		2,826
Total assets	$	104	$	3,312	$	—	$	3,416

Other long-term liabilities:
Contingent consideration	$	—	$	—	$	1,411	$	1,411
Total liabilities	$	—	$	—	$	1,411	$	1,411

Reconciliation of liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3)

A reconciliation of our liabilities that are measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) for fiscal 2020, 2019 and 2018 is as follows:


	Aexis Contingent Consideration		Jet Prep Assumed Contingent Obligation		Hu-Friedy Contingent Consideration (Earnouts)		Hu-Friedy Contingent Consideration (Stock Price)		Total
Balance, August 1, 2017	$	—	$	1,138	$	—	$	—	$	1,138
Acquisitions	1,292		—		—		—		1,292
Fair value adjustments⁽¹⁾	6		—		—		—		6
Settlements/payments	—		(1,138)		—		—		(1,138)
Balance, July 31, 2018	1,298		—		—		—		1,298
Fair value adjustments⁽¹⁾	113		—		—		—		113
Balance, July 31, 2019	1,411		—		—		—		1,411
Acquisitions	—		—		35,100		3,271		38,371
Fair value adjustments⁽¹⁾	280		—		(10,100)		3,450		(6,370)
Settlements/payments	(1,691)		$	—	$	(25,000)	$	(6,721)	(33,412)
Balance, July 31, 2020	$	—	$	—	$	—	$	—	$	—

____________________________________________

(1) Included in general and administrative expenses.