Fair Value Measurements (Tables)

9 Months Ended

Apr. 30, 2016

Fair Value Measurements

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

	April 30, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money markets	$	880,000	$	—	$	—	$	880,000
Total assets	$	880,000	$	—	$	—	$	880,000
Liabilities:
Accrued expenses:
Assumed contingent obligation	$	—	$	—	$	12,000	$	12,000
Contingent guaranteed obligation		—		—		414,000		414,000
Total accrued expenses		—		—		426,000		426,000
Other long-term liabilities:
Contingent consideration		—		—		148,000		148,000
Assumed contingent obligation		—		—		1,126,000		1,126,000
Contingent guaranteed obligation		—		—		155,000		155,000
Total other long-term liabilities:		—		—		1,429,000		1,429,000
Total liabilities	$	—	$	—	$	1,855,000	$	1,855,000

	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
Total net unrealized losses included in general and administrative expense in earnings		4,000		—		17,000		21,000
Settlements		—		—		(100,000)		(100,000)
Foreign currency translation		—		—		(53,000)		(53,000)
Balance, January 31, 2016		143,000		1,138,000		637,000		1,918,000
Total net unrealized losses included in general and administrative expense in earnings		5,000		—		15,000		20,000
Settlements		—		—		(95,000)		(95,000)
Foreign currency translation		—		—		12,000		12,000
Balance, April 30, 2016	$	148,000	$	1,138,000	$	569,000	$	1,855,000