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RESTRUCTURING AND OTHER CHARGES, NET (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jul. 31, 2014
Jul. 31, 2013
Jul. 31, 2012
Restructuring      
Severance benefits and other employment contract obligations $ 27,803 [1] $ 22,526 [1] $ 61,852 [1]
Professional fees and other costs, net of receipt of insurance claim payments 4,419 [1] 2,840 [1] 3,448 [1]
(Gain)/loss on sale and impairment of assets, net 4,002 [1] 993 [1] 766 [1]
Reversal of excess restructuring reserves (2,030) [1] (662) [1] (77) [1]
Restructuring Charges 34,194 [1] 25,697 [1] 65,989 [1]
Cash 30,192 [1] 23,410 [1] 63,717 [1]
Non-cash 4,002 [1] 2,287 [1] 2,272 [1]
Other Charges/(Gains)      
Severance benefits and other employment contract obligations (402) [2] 3,316 [2] 11,436 [2]
Professional fees and other costs, net of receipt of insurance claim payments 3,402 [2] 1,396 [2] 187 [2]
(Gain)/loss on sale and impairment of assets, net (1,480) [2] 1,358 [2] (10,754) [2]
Environmental matters 4,440 [2] 8,415 [2]  
Other (Gains) Charges (5,960) [2] (14,485) [2] (869) [2]
Cash 6,102 [2] 12,102 [2] (3,064) [2]
Non-cash (142) [2] 2,383 [2] 3,933 [2]
Total      
Severance benefits and other employment contract obligations 27,401 25,842 73,288
Professional fees and other costs, net of receipt of insurance claim payments 7,821 4,236 3,635
(Gain)/loss on sale and impairment of assets, net 2,522 2,351 (9,988)
Restructuring and other charges, net 40,154 40,182 66,858
Cash 36,294 35,512 60,653
Non-cash $ 3,860 $ 4,670 $ 6,205
[1] Restructuring:In fiscal year 2012, the Company announced a multi-year strategic cost reduction initiative (“structural cost improvement initiative”). This initiative impacts both segments as well as the Corporate Services Group. The goal of this initiative is to properly position the Company’s cost structure globally to perform in the current economic environment without adversely impacting its growth or innovation potential. Key components of the structural cost improvement initiative include:•the strategic alignment of manufacturing, sales and R&D facilities to cost-effectively deliver high-quality products and superior service to the Company’s customers worldwide,•creation of regional shared financial services centers for the handling of accounting transaction processing and other accounting functions,•reorganization of sales functions, to more cost-efficiently deliver superior service to the Company’s customers globally, and•reductions in headcount across all functional areas, enabled by efficiencies gained through the Company’s ERP systems, as well as in order to align to economic conditions.Restructuring charges recorded in fiscal year 2014 primarily reflect the expenses incurred in connection with the Company’s structural cost improvement initiative as discussed above. Restructuring charges in fiscal year 2014 also includes the impairment of assets of $4,002 related to the discontinuance of a specific manufacturing line due to excess capacity as a result of recent acquisitions.Restructuring charges recorded in fiscal year 2013 primarily reflect the expenses incurred in connection with the Company’s structural cost improvement initiative as discussed above.Restructuring charges recorded in fiscal year 2012 primarily reflect the expenses incurred in connection with the Company’s structural cost improvement initiative as discussed above. Restructuring charges in fiscal year 2012 also include asset impairment charges related to the above mentioned initiative, partly offset by a gain on the divestiture of a non-strategic asset group.
[2] Other Charges/(Gains):Severance benefits and other employment contract obligations: In fiscal years 2013 and 2012, the Company recorded charges related to certain employment contract obligations. In fiscal year 2014, the Company recorded an adjustment related to these employment contract obligations. Professional fees and other: In fiscal year 2014, the Company recorded costs related to the settlement of a legal matter, as well as acquisition-related legal and other professional fees. In fiscal years 2014 and 2013, the Company recorded costs related to the demolition of a vacant facility. In fiscal years 2013 and 2012, the Company recorded legal and other professional fees related to the Federal Securities Class Actions, Shareholder Derivative Lawsuits and Other Proceedings which pertain to matters that had been under audit committee inquiry (see Note 2, Audit Committee Inquiry and Restatement, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2007). Furthermore, in fiscal years 2013 and 2012, the Company recorded costs and reserve adjustments related to the settlement of the Federal Securities Class Actions and Shareholder Derivative Lawsuits and Other Proceedings. The receipt of insurance claim payments partly offset such costs in fiscal years 2013 and 2012. Refer to Note 14, Contingencies and Commitments, for further discussion of this matter.Gain on sale and impairment of assets: In fiscal year 2014 , the Company recorded a gain on the sale of a building in Europe. In fiscal year 2013, the Company recorded an impairment related to a software project. In fiscal year 2012, the Company recorded a gain on the sale of assets related to a sale of a building in Europe as well as a gain of $9,196 on the sale of the Company’s investment in Satair A/S.Environmental matters: In fiscal year 2014, the Company increased its previously established environmental reserve related to a matter in Pinellas Park, Florida. In fiscal year 2013, the Company increased its previously established environmental reserves primarily related to matters at its Ann Arbor, Michigan and Glen Cove, New York sites. Refer to Note 14, Contingencies and Commitments, for further discussion of these matters.