Goodwill

12 Months Ended

Jul. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill

Changes in the carrying amount of goodwill by reportable segment for the years ended July 31, 2022 and 2021, were as follows:

	IDS		WPS		Total
Balance as of July 31, 2020	$	382,347	$	33,687	$	416,034
Current year acquisitions	195,166		—		195,166
Translation adjustments	1,422		1,515		2,937
Balance as of July 31, 2021	$	578,935	$	35,202	$	614,137
Working capital adjustment	(693)		—		(693)
Translation adjustments	(22,091)		(4,521)		(26,612)
Balance as of July 31, 2022	$	556,151	$	30,681	$	586,832

Goodwill declined $27,305 during the year ended July 31, 2022 mainly due to the negative effects of foreign currency translation. In addition, the final working capital adjustment from the acquisition of Code decreased the goodwill balance by $693.

Goodwill increased $198,103 during the year ended July 31, 2021. Of the $198,103 increase, $139,347 was due to the acquisition of Code, $43,235 was due to the acquisition of Magicard, $12,584 was due to the acquisition of Nordic ID, and $2,937 was due to the positive effects of foreign currency translation.

The annual impairment testing performed on May 1, 2022, in accordance with ASC 350, “Intangibles - Goodwill and Other” indicated that all of the reporting units with goodwill (IDS Americas and Europe, PDC, WPS Europe, Code Corporation and Magicard) had a fair value substantially in excess of its carrying value.