Income Taxes (Tables)

12 Months Ended

Jul. 31, 2011

Income Taxes

Components Of Earnings Before Income Taxes

	2011		2010		2009
	(thousands of dollars)
Earnings before income taxes:
United States	$	117,562	$	85,987	$	69,863
Foreign		194,701		144,189		91,562
Total	$	312,263	$	230,176	$	161,425

Components Of The Provision For Income Taxes

	2011			2010			2009
	(thousands of dollars)
Income taxes:
Current
Federal	$	26,675		$	25,455		$	18,624
State		3,555			2,206			2,444
Foreign		54,785			33,327			13,176
		85,015			60,988			34,244
Deferred
Federal		8,556			3,860			(3,888	)
State		191			20			90
Foreign		(6,790	)		(855	)		(928	)
		1,957			3,025			(4,726	)
Total	$	86,972		$	64,013		$	29,518

Schedule Of Reconciliation Of U.S. Statutory Income Tax Rate With Effective Income Tax Rate

	2011			2010			2009
Statutory U.S. federal rate		35.0	%		35.0	%		35.0	%
State income taxes		1.0			0.8			1.3
Foreign taxes at lower rates		(6.6	)		(8.2	)		(7.5	)
Export, manufacturing and research credits		(1.6	)		(0.9	)		(0.5	)
U.S. tax impact on repatriation of earnings		(0.3	)		0.1			0.7
Change in unrecognized tax benefits		0.1			1.2			(10.6	)
Other		0.3			(0.2	)		(0.1	)
		27.9	%		27.8	%		18.3	%

Schedule Of Temporary Differences That Give Rise To Deferred Tax Assets And Liabilities

	2011			2010
	(thousands of dollars)
Deferred tax assets:
Accrued expenses	$	12,243		$	9,130
Compensation and retirement plans		33,298			39,438
Tax credit and NOL carryforwards		1,173			954
Inventory reserves		9,545			8,324
Other		3,311			1,846
Deferred tax assets:		59,570			59,692
Valuation allowance		(692	)		(604	)
Net deferred tax assets		58,878			59,088
Deferred tax liabilities:
Depreciation and amortization		(37,112	)		(30,248	)
Other		(1,119	)		(1,420	)
Deferred tax liabilities		(38,231	)		(31,668	)
Net deferred tax asset	$	20,647		$	27,420

Schedule Of Reconciliation Of Beginning And Ending Amount Of Gross Unrecognized Tax Benefits

	2011			2010			2009
	(thousands of dollars)
Gross unrecognized tax benefits at beginning of fiscal year	$	18,994		$	16,928		$	32,002
Additions for tax positions of the current year		7,406			3,122			3,527
Additions for tax positions of prior years		668			470			772
Reductions for tax positions of prior years		(164	)		(179	)		(8,258	)
Settlements		(3,895	)		—			(10,092	)
Reductions due to lapse of applicable statute of limitations		(3,004	)		(1,347	)		(1,023	)
Gross unrecognized tax benefits at end of fiscal year	$	20,005		$	18,994		$	16,928

Schedule Of Uncertain Tax Positions By Major Tax Jurisdictions

Major Jurisdictions	Open Tax Years
Belgium	2010
China	2001 through 2010
France	2008 through 2010
Germany	2009 through 2010
Italy	2003 through 2010
Japan	2009 through 2010
Mexico	2006 through 2010
Thailand	2005 through 2010
United Kingdom	2010
United States	2008 through 2010