ACQUISITION

12 Months Ended

Jul. 31, 2013

Business Combinations [Abstract]

ACQUISITION

ACQUISITION

On March 1, 2012 (the “Closing Date”), the Company acquired 100% of the outstanding capital stock of ForteBio®, Inc. (“ForteBio”), a privately held provider of advanced analytical systems that accelerate the discovery and development of biotech drugs. ForteBio’s portfolio of analytical solutions allows researchers to measure proteins in real time without the aid of fluorescent, radio or calorimetric labels or markers that can contaminate samples. This enables significantly easier, faster and better characterization of drug candidates, which can help improve process development and speed time to market. As such, this will complement the Company’s existing microbiological monitoring platforms. On the Closing Date, the Company paid a cash purchase price of approximately $142,132, net of cash acquired. Pall ForteBio Corp., the new company, is headquartered in Menlo Park, California, and has wholly owned subsidiaries in London, England and Shanghai, China. This acquisition did not have a material impact on the Company’s financial position or results of operations as of and for the year ended July 31, 2012.

The transaction was funded with available cash and borrowings under the Company’s commercial paper program. Tangible and intangibles assets acquired and liabilities assumed were recognized based upon their estimated fair values at the Closing Date. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of March 1, 2012.

Purchase price	$	157,811
Cash acquired	15,679
Purchase price, net of cash acquired	142,132
Accounts receivable	2,477
Inventories	4,200
Other current assets	6,079
Property plant and equipment	1,277
Intangible assets	86,300
Non-current deferred tax assets	8,997
Other non-current assets	110
Total identifiable assets acquired. net of cash acquired	109,440
Deferred tax liabilities	31,681
Other non-current liabilities	3,371
Liabilities assumed	35,052
Goodwill (excess cost over value of net assets acquired)	$	67,744

The results of ForteBio for the period from the Closing Date are included in the accompanying consolidated financial statements and reported in the Life Sciences segment results in Note 18, Segment Information and Geographies. Assuming this transaction had been made at the beginning of fiscal year 2011, the consolidated pro forma results would not be materially different from reported results.