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Goodwill and Intangible Assets
6 Months Ended
Jan. 31, 2017
Text Block [Abstract]  
Goodwill and Intangible Assets
Goodwill and Other Intangible Assets
Changes in the carrying amount of goodwill for the six months ended January 31, 2017, were as follows:
 
IDS
 
WPS
 
Total
Balance as of July 31, 2016
$
384,529

 
$
45,342

 
$
429,871

Translation adjustments
(4,751
)
 
(263
)
 
(5,014
)
Realignment of businesses between segments
2,490

 
(2,490
)
 

Balance as of January 31, 2017
$
382,268

 
$
42,589

 
$
424,857



Goodwill at January 31, 2017 and July 31, 2016, included $118,637 and $209,392 of accumulated impairment losses within the Identification Solutions ("IDS") and Workplace Safety ("WPS") segments, respectively, for a total of $328,029. There were no impairment charges recorded during the six months ended January 31, 2017.

As further discussed in Note E - Segment Information, the Company realigned certain businesses between the WPS and IDS reportable segments effective August 1, 2016. In accordance with ASC 350, "Intangibles - Goodwill and Other," the Company completed a relative fair value calculation of the businesses that were realigned and moved the corresponding goodwill balance of $2,490 between the two reportable segments.




Other intangible assets include patents, trademarks, customer relationships, non-compete agreements and other intangible assets with finite lives being amortized in accordance with the accounting guidance for other intangible assets. The Company also has unamortized indefinite-lived trademarks that are classified as other intangible assets. The net book value of these assets was as follows:
 
 
January 31, 2017
 
July 31, 2016
 
Weighted
Average
Amortization
Period
(Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net Book
Value
 
Weighted
Average
Amortization
Period
(Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net Book
Value
Amortized other intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents
5
 
$
12,283

 
$
(11,278
)
 
$
1,005

 
5
 
$
12,252

 
$
(11,063
)
 
$
1,189

Trademarks and other
5
 
14,252

 
(13,720
)
 
532

 
5
 
14,359

 
(13,709
)
 
650

Customer relationships
7
 
134,209

 
(102,539
)
 
31,670

 
7
 
135,795

 
(100,830
)
 
34,965

Non-compete agreements and other
4
 
9,118

 
(9,118
)
 

 
4
 
9,153

 
(9,142
)
 
11

Unamortized other intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks
N/A
 
22,773

 

 
22,773

 
N/A
 
22,991

 

 
22,991

Total
 
 
$
192,635

 
$
(136,655
)
 
$
55,980

 
 
 
$
194,550

 
$
(134,744
)
 
$
59,806


The decrease in the gross carrying amount of other intangible assets as of January 31, 2017, compared to July 31, 2016, was due to the effect of currency fluctuations during the six-month period.
The gross carrying amount of goodwill and other intangible assets in the condensed consolidated balance sheet at January 31, 2017 differs from the value assigned to them in the original allocation of purchase price due to impairments and the effect of currency fluctuations between the date of acquisition and January 31, 2017.
Amortization expense on intangible assets was $1,688 and $2,595 for the three months ended January 31, 2017 and 2016, respectively, and $3,583 and $5,228 for the six months ended January 31, 2017 and 2016, respectively. The amortization over each of the next five fiscal years is projected to be $7,356, $6,680, $6,412, $5,909 and $5,864 for the fiscal years ending July 31, 2017, 2018, 2019, 2020 and 2021, respectively.