Goodwill and Intangible Assets

6 Months Ended

Jan. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 6. Goodwill and Intangible Assets

Goodwill

The Company allocates goodwill to reporting units within its Mobile Solutions, Industrial Solutions and Life Sciences segments. There were no dispositions or impairment charges recorded during the three and six months ended January 31, 2025 and 2024. Goodwill is assessed for impairment annually during the third quarter of the fiscal year, or more frequently if events or changes in circumstances indicate the asset may be impaired. The Company performed its annual impairment assessment during the third quarter of fiscal 2024 and did not record any impairment as a result of this assessment.

Goodwill by reportable segment was as follows (in millions):



	Mobile Solutions Segment		Industrial Solutions Segment		Life Sciences Segment		Total
Balance as of July 31, 2024	$	25.4	$	289.9	$	163.1	$	478.4



Foreign currency translation	(0.1)		(4.0)		(5.0)		(9.1)
Balance as of January 31, 2025	$	25.3	$	285.9	$	158.1	$	469.3

Intangible Assets

Intangible asset classes were as follows (in millions):


	January 31, 2025
	Weighted Amortizable Life (in Years)	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	9.1	$	76.0	$	(41.7)	$	34.3

Trademarks	7.6	13.8		(4.4)		9.4
Technology and patents	16.2	139.8		(24.1)		115.7
Non-compete agreements	2.8	3.9		(2.5)		1.4
Total intangible assets		$	233.5	$	(72.7)	$	160.8


	July 31, 2024
	Weighted Amortizable Life (in Years)	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	9.4	$	77.4	$	(39.9)	$	37.5

Trademarks	8.1	14.2		(3.8)		10.4
Technology and patents	16.7	142.4		(20.4)		122.0
Non-compete agreements	2.7	3.9		(1.9)		2.0
Total intangible assets		$	237.9	$	(66.0)	$	171.9

Intangible asset amortization expense was $3.9 million and $7.9 million for the three and six months ended January 31, 2025, respectively, and was $3.8 million and $7.8 million for the three and six months ended January 31, 2024, respectively. Amortization expense is included in selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings.

There was a foreign currency translation loss of $3.6 million and loss of $3.2 million for the three and six months ended January 31, 2025, respectively, and a gain of $1.5 million and loss of $1.7 million for the three and six months ended January 31, 2024, respectively.