Fair value (Tables)

12 Months Ended

Jul. 31, 2013

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following table provides the assets and liabilities carried at fair value measured on a recurring basis at July 31, 2013 and July 31, 2012:


			Fair Value Measurements at July 31, 2013
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash equivalents	$	753	$	—	$	753	$	—
Plan assets for deferred compensation (A)		2,725		2,725		—		—

Total assets at fair value	$	3,478	$	2,725	$	753	$	—

Liabilities
Foreign currency forward contracts	$	160	$	—	$	160	$	—

Total liabilities at fair value	$	160	$	—	$	160	$	—


			Fair Value Measurements at July 31, 2012
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash equivalents	$	14,590	$	—	$	14,590	$	—
Foreign currency forward contracts		66		—		66		—
Plan assets for deferred compensation (A)		1,693		1,693		—		—

Total assets at fair value	$	16,349	$	1,693	$	14,656	$	—

Liabilities
Contingent consideration (B)	$	460	$	—	$	—	$	460

Total liabilities at fair value	$	460	$	—	$	—	$	460

(A)	Assets held in the deferred compensation plan will be used to pay benefits under our non-qualified deferred compensation plan. The investments consist primarily of mutual funds.

(B)	The amount of contingent consideration related to the acquisition to acquire certain assets of an OEM ultrasound transducer and probe business in November 2010. During our quarter ended January 31, 2013, we paid $435 in contingent consideration and have no further obligation.

Reconciliations of Changes in Fair Value of Contingent Consideration

The following are reconciliations of the changes in the fair value of contingent consideration in fiscal years 2013 and 2012:


	Fiscal Year Ended
	2013			2012
Beginning Balance	$	460		$	340
Change in fair value		(25	)		120
Payments		(435	)		—

Ending Balance	$	—		$	460

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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