Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2015

Fair Value Measurements

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

	October 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money markets	$	1,680,000	$	—	$	—	$	1,680,000
Total assets	$	1,680,000	$	—	$	—	$	1,680,000
Liabilities:
Accrued expenses:
Assumed contingent obligation	$	—	$	—	$	12,000	$	12,000
Contingent guaranteed obligation	—		—		556,000		556,000
Total accrued expenses	—		—		568,000		568,000
Other long-term liabilities:
Contingent consideration	—		—		139,000		139,000
Assumed contingent obligation	—		—		1,126,000		1,126,000
Contingent guaranteed obligation	—		—		217,000		217,000
Total other long-term liabilities	—		—		1,482,000		1,482,000
Total liabilities	$	—	$	—	$	2,050,000	$	2,050,000

	July 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money markets	$	1,680,000	$	—	$	—	$	1,680,000
Total assets	$	1,680,000	$	—	$	—	$	1,680,000
Liabilities:
Accrued expenses:
Assumed contingent obligation	$	—	$	—	$	12,000	$	12,000
Contingent guaranteed obligation	—		—		566,000		566,000
Total accrued expenses	—		—		578,000		578,000
Other long-term liabilities:
Contingent consideration	—		—		751,000		751,000
Assumed contingent obligation	—		—		1,126,000		1,126,000
Contingent guaranteed obligation	—		—		322,000		322,000
Total other long-term liabilities	—		—		2,199,000		2,199,000
Total liabilities	$	—	$	—	$	2,777,000	$	2,777,000

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

				Jet Prep			Cantel Medical (UK)
	Jet Prep			Assumed			Contingent
	Contingent			Contingent			Guaranteed
	Consideration			Obligation			Obligation			Total
Balance, July 31, 2014	$	2,722,000		$	1,752,000		$	1,395,000		$	5,869,000
Total net unrealized losses included in general and administrative expense in earnings	82,000			11,000			54,000			147,000
Settlements	—			—			(132,000		)	(132,000		)
Foreign currency translation	—			—			(77,000		)	(77,000		)
Balance, October 31, 2014	2,804,000			1,763,000			1,240,000			5,807,000
Total net unrealized losses included in general and administrative expense in earnings	84,000			10,000			33,000			127,000
Settlements	—			—			(164,000		)	(164,000		)
Foreign currency translation	—			—			(69,000		)	(69,000		)
Balance, January 31, 2015	2,888,000			1,773,000			1,040,000			5,701,000
Total net unrealized (gains) losses included in general and administrative expense in earnings	(2,159,000		)	(642,000		)	11,000			(2,790,000		)
Settlements	—			—			(161,000		)	(161,000		)
Foreign currency translation	—			—			24,000			24,000
Balance, April 30, 2015	729,000			1,131,000			914,000			2,774,000
Total net unrealized losses included in general and administrative expense in earnings	22,000			7,000			23,000			52,000
Settlements	—			—			(109,000		)	(109,000		)
Foreign currency translation	—			—			60,000			60,000
Balance, July 31, 2015	751,000			1,138,000			888,000			2,777,000
Total net unrealized (gains) losses included in general and administrative expense in earnings	(612,000		)	—			20,000			(592,000		)
Settlements	—			—			(120,000		)	(120,000		)
Foreign currency translation	—			—			(15,000		)	(15,000		)
Balance, October 31, 2015	$	139,000		$	1,138,000		$	773,000		$	2,050,000