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OTHER CURRENT AND NON-CURRENT ASSETS (Details 1) (USD $)
In Thousands, unless otherwise specified
Jul. 31, 2014
Jul. 31, 2013
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Deferred income taxes $ 16,569 [1] $ 16,998 [1]
Retirement benefit assets 87,720 [2] 91,031 [2]
Prepaid income taxes 16,041 [1] 8,187 [1]
Income taxes receivable 26,227 [1] 35,194 [1]
Other 29,521 16,717
Other non-current assets $ 176,078 $ 168,127
[1] See Note 11, Income Taxes, for further discussion.
[2] 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.