Segment Information

12 Months Ended

Jul. 31, 2011

7. Segment Information

The Company evaluates short-term segment performance based on segment profit or loss and customer sales. Corporate long-term performance is evaluated based on shareholder value enhancement (“SVE”), which incorporates the cost of capital as a hurdle rate for capital expenditures, new product development, and acquisitions. Segment profit or loss does not include certain administrative costs, such as the cost of finance, information technology, human resources, and executive leadership which are managed as global functions. Restructuring charges, equity compensation costs, interest, investment and other income and income taxes are also excluded when evaluating segment performance.

The Company is organized and managed on a geographic basis by region. Each of these regions, Americas, Europe and Asia-Pacific, has a President that reports directly to the Company’s chief operating decision maker, its Chief Executive Officer. Each region has its own distinct operations, is managed locally by its own management team, maintains its own financial reports and is evaluated based on regional segment profit. The Company has determined that these regions comprise its operating and reportable segments based on the information used by the Chief Executive Officer to allocate resources and assess performance.

Intersegment sales and transfers are recorded at cost plus a standard percentage markup. Intercompany profit is eliminated in consolidation. It is not practicable to disclose enterprise-wide revenue from external customers on the basis of product or service.


									Corporate
									and
	Americas		Europe		Asia-Pacific		Total Region		Eliminations			Total Company
Year ended July 31, 2011:
Revenues from external customers	$	577,428	$	404,955	$	357,214	$	1,339,597	$	—		$	1,339,597
Intersegment revenues		41,638		3,054		24,500		69,192		(69,192	)		—
Depreciation and amortization expense		15,682		8,147		15,515		39,344		9,483			48,827
Segment profit		145,516		112,047		50,105		307,668		(15,742	)		291,926
Assets		735,003		333,977		389,465		1,458,445		403,060			1,861,505
Expenditures for property, plant and equipment		8,212		2,626		8,620		19,458		1,074			20,532

Year ended July 31, 2010:
Revenues from external customers	$	551,185	$	380,121	$	327,790	$	1,259,096	$	—		$	1,259,096
Intersegment revenues		43,136		4,456		18,188		65,780		(65,780	)		—
Depreciation and amortization expense		21,142		8,088		15,749		44,979		8,043			53,022
Segment profit		125,169		103,316		52,105		280,590		(14,131	)		266,459
Assets		754,753		313,204		362,653		1,430,610		315,921			1,746,531
Expenditures for property, plant and equipment		8,502		1,535		9,946		19,983		6,313			26,296

Year ended July 31, 2009:
Revenues from external customers	$	534,440	$	367,156	$	307,106	$	1,208,702	$	—		$	1,208,702
Intersegment revenues		45,853		4,310		18,534		68,697		(68,697	)		—
Depreciation and amortization expense		22,022		8,467		15,957		46,446		8,405			54,851
Segment profit		114,404		99,875		42,575		256,854		(7,952	)		248,902
Assets		703,559		298,717		341,605		1,343,881		239,386			1,583,267
Expenditures for property, plant and equipment		8,422		3,326		5,848		17,596		6,431			24,027


	Years Ended July 31,
	2011			2010			2009
Net income reconciliation:
Total profit for reportable segments	$	307,668		$	280,590		$	256,854
Corporate and eliminations		(15,742	)		(14,131	)		(7,952	)
Unallocated amounts:
Administrative costs		(120,546	)		(121,689	)		(102,680	)
Restructuring costs		(9,188	)		(15,314	)		(25,849	)
Investment and other income — net		3,990			1,168			1,800
Interest expense		(22,124	)		(21,222	)		(24,901	)

Income before income taxes		144,058			109,402			97,272
Income taxes		(35,406	)		(27,446	)		(27,150	)

Net income	$	108,652		$	81,956		$	70,122


	Revenues*									Long-Lived Assets**
	Years Ended July 31,									As of Years Ended July 31,
	2011			2010			2009			2011		2010		2009
Geographic information:
United States	$	535,412		$	521,318		$	510,703		$	488,571	$	507,481	$	519,932
China		164,640			156,842			199,893			118,945		118,953		123,078
Other		708,737			646,716			566,589			422,703		391,214		375,905
Eliminations		(69,192	)		(65,780	)		(68,483	)		—		—		—

Consolidated total	$	1,339,597		$	1,259,096		$	1,208,702		$	1,030,219	$	1,017,648	$	1,018,915


*		Revenues are attributed based on country of origin.

**		Long-lived assets consist of property, plant, and equipment, other intangible assets and goodwill.