GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jan. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents goodwill, allocated by reportable segment.



	Jan 31, 2014		Jul 31, 2013
Life Sciences	$	186,098	$	180,896
Industrial	161,982		161,596
	$	348,080	$	342,492

Intangible assets, net, consist of the following:



	Jan 31, 2014
	Gross		Accumulated Amortization		Net
Patents and unpatented technology	$	112,559	$	62,044	$	50,515
Customer-related intangibles	106,290		27,354		78,936
Trademarks	13,353		6,573		6,780
Other	3,638		2,484		1,154
	$	235,840	$	98,455	$	137,385

	Jul 31, 2013
	Gross		Accumulated Amortization		Net
Patents and unpatented technology	$	123,707	$	69,992	$	53,715
Customer-related intangibles	97,016		22,425		74,591
Trademarks	13,291		6,166		7,125
Other	4,425		2,613		1,812
	$	238,439	$	101,196	$	137,243

Goodwill and intangible assets were primarily impacted by changes in the foreign exchange rates used to translate goodwill and intangible assets of foreign subsidiaries. Intangible assets were additionally impacted by immaterial acquisitions of Medistad Holding BV, a European manufacturing entity and SoloHill Engineering, Inc., a United States (“U.S”) technology company in the first and second quarters of fiscal year 2014, respectively.

Amortization expense from continuing operations for intangible assets for the three and six months ended January 31, 2014 was $4,655 and $9,379, respectively. Amortization expense from continuing operations for intangible assets for the three and six months ended January 31, 2013 was $4,857 and $10,135, respectively. Amortization expense is estimated to be approximately $9,296 for the remainder of fiscal year 2014, $17,011 in fiscal year 2015, $15,744 in fiscal year 2016, $15,662 in fiscal year 2017, $15,493 in fiscal year 2018, and $13,170 in fiscal year 2019.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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