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OTHER CURRENT AND NON-CURRENT ASSETS (Tables)
 12 Months Ended
Jul. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of other assets, current and non-current
Other current assets consist of the following:
 
2014
 
2013
Deferred income taxes (a)
$
39,001

 
$
37,653

Income taxes receivable (a)
4,894

 
5,141

Prepaid income taxes (a)
35,194

 
33,761

Prepaid expenses
36,903

 
39,047

Other receivables
36,530

 
50,159

 
$
152,522

 
$
165,761

Other non-current assets consist of the following:
 
2014
 
2013
Deferred income taxes (a)
$
16,569

 
$
16,998

Retirement benefit assets (b)
87,720

 
91,031

Prepaid income taxes (a)
16,041

 
8,187

Income taxes receivable (a)
26,227

 
35,194

Other
29,521

 
16,717

 
$
176,078

 
$
168,127

(a)
See Note 11, Income Taxes, for further discussion.
(b)
Retirement benefit assets are held to satisfy obligations related to certain retirement benefit plans, which provide benefits to eligible employees in Germany and the U.S. These include guaranteed investment contracts of $18,102 and $18,111 as of July 31, 2014 and July 31, 2013, respectively. The guaranteed investment contracts were established to pay for supplementary retirement benefits related to plans in Germany. The July 31, 2014 and July 31, 2013 consolidated balance sheets reflect related liabilities in the amounts of $67,878 and $65,428, respectively. Also included within retirement benefit assets are benefits protection trusts, with assets aggregating $68,844 and $71,990 as of July 31, 2014 and July 31, 2013, respectively. The trust was established for the primary purpose of satisfying certain supplemental post-employment benefit obligations in the U.S. for eligible executives in the event of a change of control of the Company. In addition to holding cash equivalents primarily to satisfy cash requirements relating to benefit payments, the trust primarily invests in U.S. and Municipal government obligations, and debt obligations of corporations and financial institutions with high credit ratings. Contractual maturity dates of debt securities held by the trust range from 2014 to 2046. Such debt and equity securities are classified as available-for-sale and trading and aggregated $66,051 and $70,901 as of July 31, 2014 and July 31, 2013, respectively. The July 31, 2014 and July 31, 2013 consolidated balance sheets reflect retirement benefit assets held in the trust of $68,844 and $70,669 that relate to retirement benefit liabilities of $113,393 and $112,508, respectively.
Summary of the Company's available-for-sale investments by category
The following is a summary of the Company’s available-for-sale investments by category:
 
Cost/
Amortized
Cost Basis
 
Fair Value
 
Gross
Unrealized
Holding
Gains
 
Gross
Unrealized
Holding
Losses
 
Net
Unrealized
Holding
Gains
2014
 
 
 
 
 
 
 
 
 
Equity securities
$
4,160

 
$
4,748

 
$
588

 
$
—

 
$
588

Debt securities:
 
 
 
 
 
 
 
 
 
Corporate
28,987

 
30,243

 
1,259

 
(3
)
 
1,256

U.S. Treasury
9,478

 
9,724

 
246

 
—

 
246

Federal Agency
12,778

 
13,719

 
941

 
—

 
941

Mortgage-backed
11,219

 
11,405

 
190

 
(4
)
 
186

 
$
66,622

 
$
69,839

 
$
3,224

 
$
(7
)
 
$
3,217

 
 
 
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
 
 
 
Equity securities
$
176

 
$
176

 
$
—

 
$
—

 
$
—

Debt securities:
 
 
 
 
 
 
 
 
 
Corporate
31,546

 
32,393

 
1,274

 
(427
)
 
847

U.S. Treasury
11,339

 
11,543

 
294

 
(90
)
 
204

Federal Agency
19,810

 
20,642

 
1,131

 
(299
)
 
832

Mortgage-backed
5,752

 
5,990

 
238

 
—

 
238

 
$
68,623

 
$
70,744

 
$
2,937

 
$
(816
)
 
$
2,121
Gross unrealized losses and fair value of Company's available-for-sale investments with unrealized losses aggregated by investment category and length of time
The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale investments with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
Less than 12 months
 
12 months or greater
 
Total
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
2014
 

 
 

 
 

 
 

 
 

 
 

Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Corporate
$
3,384

 
$
(3
)
 
$
—

 
$
—

 
$
3,384

 
$
(3
)
Mortgage-backed
1,919

 
(4
)
 
—

 
—

 
1,919

 
(4
)
 
$
5,303

 
$
(7
)
 
$
—

 
$
—

 
$
5,303

 
$
(7
)
 
Less than 12 months
 
12 months or greater
 
Total
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
2013
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Corporate
$
10,990

 
$
(427
)
 
$
—

 
$
—

 
$
10,990

 
$
(427
)
U.S. Treasury
3,778

 
(90
)
 
—

 
—

 
3,778

 
(90
)
Federal Agency
3,701

 
(299
)
 
—

 
—

 
3,701

 
(299
)
 
$
18,469

 
$
(816
)
 
$
—

 
$
—


$
18,469

 
$
(816
)
Proceeds and gross gains and losses from the sale of available-for-sale investments
The following table shows the proceeds and gross gains and losses from the sale of available-for-sale investments for the years ended July 31, 2014, July 31, 2013 and July 31, 2012:
 
2014
 
2013
 
2012
Proceeds from sales
$
22,285

 
$
15,018

 
$
35,973

Realized gross gains on sales
245

 
427

 
9,828

Realized gross losses on sales
179

 
5

 
55
Trading Securities
The following is a summary of the Company’s trading securities by category as well as the net gains and losses recognized during the period for the the years ended July 31, 2014 and July 31, 2013. There were no trading securities in the fiscal year ended July 31, 2012.
 
2014
 
2013
Equity securities
$
819

 
$
190

Total trading securities
$
819

 
$
190

 
 
 
 
Gains/(losses), net recognized for securities held
$
22

 
$
3

Gains/(losses), net recognized for securities sold
7

 
—

Total gains/(losses), net recognized
$
29

 
$
3