XML 29 R11.htm IDEA: XBRL DOCUMENT v3.25.0.1
Equity Method Investments
6 Months Ended
Jan. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Note 2. Equity Method Investments
On August 9, 2024, the Company acquired a 49% non-controlling stake in Medica S.p.A. (Medica), headquartered in Medolla, Italy, for cash consideration of approximately €62.1 million, or $67.9 million, and capitalized transaction costs of approximately €5.1 million, or $5.8 million. Medica is a leader in hollow fiber membrane filtration technology for medical applications and water purification. The Company has the option to acquire the remaining 51% stake in four years. The investment is accounted for under the equity method of accounting. The earnings from the investment were not material for the three and six months ended January 31, 2025.
The Company is party to joint ventures in Advanced Filtration Systems Inc. (AFSI) with a 50% ownership and PT Panata Jaya Mandiri (PTPJM) with a 30% ownership and also holds a 49% stake in Medica, all of which are considered related parties. The financial impact from the joint ventures and non-controlling interest are not material.