GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Oct. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents changes in the carrying value of goodwill, allocated by reportable segment.



	Life Sciences			Industrial			Total
Balance at July 31, 2014	$	269,758		$	221,704		$	491,462
Acquisitions	—			2,617			2,617
Foreign currency translation	(6,987		)	(1,544		)	(8,531		)
Balance at October 31, 2014	$	262,771		$	222,777		$	485,548

Increase in acquisitions primarily related to working capital adjustment for acquisition of Filter Specialists, Inc.

Intangible assets consist of the following:



October 31, 2014	Gross		Accumulated Amortization		Net
Patents and unpatented technology	$	163,125	$	67,618	$	95,507
Customer-related intangibles	162,679		36,506		126,173
Trademarks	16,763		7,379		9,384
Other	3,572		2,573		999
	$	346,139	$	114,076	$	232,063

July 31, 2014	Gross		Accumulated Amortization		Net
Patents and unpatented technology	$	165,727	$	66,126	$	99,601
Customer-related intangibles	165,759		33,845		131,914
Trademarks	16,971		7,130		9,841
Other	3,647		2,580		1,067
	$	352,104	$	109,681	$	242,423

Amortization expense for intangible assets for the three months ended October 31, 2014 and October 31, 2013 was $6,217 and $4,724, respectively. Amortization expense is estimated to be approximately $17,189 for the remainder of fiscal year 2015, $22,087 in fiscal year 2016, $21,799 in fiscal year 2017, $21,660 in fiscal year 2018, $19,443 in fiscal year 2019, and $18,116 in fiscal year 2020.

- 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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