Goodwill

12 Months Ended

Jul. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill by reportable segment for the years ended July 31, 2024 and 2023, were as follows:


	IDS		WPS		Americas & Asia		Europe & Australia		Total
Balance as of July 31, 2022	$	556,151	$	30,681	$	—	$	—	$	586,832
Translation adjustments	3,319		625		1,079		2,745		7,768
Reallocation due to change in segments	(559,470)		(31,306)		442,290		148,486		—
Divestiture of business	—		—		(1,954)		—		(1,954)
Balance as of July 31, 2023	$	—	$	—	$	441,415	$	151,231	$	592,646
Translation adjustments	—		—		(2,236)		(799)		(3,035)
Balance as of July 31, 2024	$	—	$	—	$	439,179	$	150,432	$	589,611

Effective February 1, 2023, the Company is organized and managed within two regions: Americas & Asia and Europe & Australia, which are the reportable segments. Prior to February 1, 2023, the Company was organized and managed on a global basis within two business platforms: Identification Solutions (“IDS”) and Workplace Safety (“WPS”). As a result, goodwill was allocated to the new reportable segments in accordance with ASC 350, "Intangibles - Goodwill and Other."

Goodwill decreased $3,035 during the year ended July 31, 2024 due to the negative effects of foreign currency translation.

Goodwill increased $5,814 during the year ended July 31, 2023 mainly due to the positive effects of foreign currency translation, which was partially offset by a reduction due to the sale of our PremiSys business within the Americas & Asia segment.

The qualitative assessment performed on May 1, 2024, in accordance with ASC 350, “Intangibles - Goodwill and Other” indicated that it is more likely than not that the fair value exceeds the carrying value for each of the three reporting units with goodwill (North America, Europe and Latin America).