Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2011

Summary Of Significant Accounting Policies

Components Of Inventory

	At July 31,
	2011		2010
Materials	$	110,466	$	79,371
Work in process		33,917		23,163
Finished products		127,093		101,097
Total inventories	$	271,476	$	203,631

Components Of Property, Plant And Equipment

	At July 31,
	2011			2010
Land	$	22,578		$	21,771
Buildings		266,482			240,787
Machinery and equipment		625,439			587,977
Construction in progress		31,375			26,223
Less accumulated depreciation		(554,372	)		(510,866	)
Total property, plant and equipment, net	$	391,502		$	365,892

Components Of Accumulated Other Comprehensive Income (Loss)

	At July 31,
	2011			2010			2009
Foreign currency translation adjustment	$	131,699		$	59,194		$	75,155
Net gain (loss) on cash flow hedging derivatives, net of deferred taxes		380			(462	)		(394	)
Pension liability adjustment, net of deferred taxes		(92,052	)		(99,218	)		(84,438	)
Total accumulated other comprehensive income (loss)	$	40,027		$	(40,486	)	$	(9,677	)

Calculation Of Basic And Diluted Earnings Per Share

	2011		2010		2009
	(thousands of dollars, except per share amounts)
Weighted average shares - basic		77,196		77,849		77,967
Diluted share equivalents		1,402		1,329		1,233
Weighted average shares - diluted		78,598		79,178		79,200
Net earnings for basic and diluted earnings per share computation	$	225,291	$	166,163	$	131,907
Net earnings per share - basic	$	2.92	$	2.13	$	1.69
Net earnings per share - diluted	$	2.87	$	2.10	$	1.67