Intangible Assets and Long-Lived Assets

12 Months Ended

Jul. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure

Other Intangible and Long-Lived AssetsOther intangible assets include customer relationships, tradenames, and technology with finite lives being amortized in accordance with the accounting guidance for other intangible assets. The Company also has unamortized indefinite-lived tradenames that are classified as other intangible assets.

Other intangible assets as of July 31, 2022 and 2021, consisted of the following: 

	July 31, 2022							July 31, 2021
	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:
Tradenames	3	$	1,749	$	(1,014)	$	735	3	$	1,821	$	(356)	$	1,465
Customer relationships	9	105,404		(48,428)		56,976		9	110,950		(39,069)		71,881
Technology	5	9,136		(2,241)		6,895		5	9,578		(335)		9,243
Unamortized other intangible assets:
Tradenames	N/A	9,422		—		9,422		N/A	9,745		—		9,745
Total		$	125,711	$	(51,683)	$	74,028		$	132,094	$	(39,760)	$	92,334

The change in the gross carrying amount of other intangible assets as of July 31, 2022 compared to July 31, 2021 was primarily due to the effect of currency fluctuations during the during the year ended July 31, 2022.

Amortization expense on intangible assets during the years ended July 31, 2022, 2021, and 2020 was $14,966, $7,077, and $5,219, respectively. Amortization expense over each of the next five fiscal years is projected to be $11,739, $9,312, $8,987, $8,114, and $7,628 for the fiscal years ending July 31, 2023, 2024, 2025, 2026, and 2027, respectively.

During the year ended July 31, 2020, impairment charges of $8,665 were recognized related to indefinite-lived tradenames. In addition, impairment charges of $2,681 were recognized related to property, plant and equipment; of which $2,353 and $328 related to the IDS and WPS segments, respectively. Impairment charges of $2,475 were recognized related to operating lease assets, of which $2,035 and $440 related to the WPS and IDS segments, respectively. These items resulted in a total impairment charge of $13,821 recognized in "Impairment charges" on the Consolidated Statements of Income for the year ended July 31, 2020.