Commitments and Contingencies

3 Months Ended

Oct. 31, 2013

Commitments and Contingencies

Commitments and Contingencies

Note 12. Commitments and Contingencies

Long-Term Contractual Obligations

As of October 31, 2013, aggregate annual required payments over the remaining fiscal year, the next four years and thereafter under our contractual obligations that have long-term components were as follows:

	Nine Months
	Ending
	July 31,		Year Ending July 31,
	2014		2015		2016		2017		2018		Thereafter		Total
	(Amounts in thousands)
Maturities of the credit facilities	$	7,500	$	10,000	$	10,000	$	54,500	$	—	$	—	$	82,000
Expected interest payments under the credit facilities (1)	1,439		1,707		1,466		4		—		—		4,616
Minimum commitments under noncancelable operating leases	2,748		2,892		1,996		1,370		1,163		3,654		13,823
Compensation agreements	3,223		2,478		494		75		—		—		6,270
Deferred compensation and other	41		55		43		42		36		27		244
Total contractual obligations	$	14,951	$	17,132	$	13,999	$	55,991	$	1,199	$	3,681	$	106,953

(1) The expected interest payments under both the term and revolving credit facilities reflect interest rates of 2.41% and 2.45%, which were our weighted average interest rates on outstanding borrowings at October 31, 2013 and reflect the impact of our interest rate swap agreements.

Operating Leases

Minimum commitments under operating leases include minimum rental commitments for our leased manufacturing facilities, warehouses, office space and equipment.

Compensation Agreements

We have previously entered into various severance contracts with executives of the Company, including our Corporate executive officers and our subsidiary Chief Executive Officers, which define certain compensation arrangements relating to various employment termination scenarios. In conjunction with the acquisitions of the Byrne Medical Business on August 1, 2011, the SPS Business on November 1, 2012 and the Eagle Pure Water Business on December 31, 2012, we entered into three-year employment agreements with certain executive officers of the acquired businesses.

Deferred Compensation and Other

Deferred compensation and other primarily includes deferred compensation arrangements for certain former Medivators directors and officers and is recorded in other long-term liabilities.