RESTRUCTURING AND OTHER CHARGES, NET

The following tables summarize the restructuring and other charges (“ROTC”) recorded in the three and nine months ended April 30, 2015 and April 30, 2014:



	Three Months Ended Apr 30, 2015								Nine Months Ended Apr 30, 2015
	Restructuring (1)			Other Charges/(Gains) (2)		Total			Restructuring (1)			Other Charges/(Gains) (2)		Total
Severance benefits and other employment contract obligations	$	4,690		$	—	$	4,690		$	19,711		$	—	$	19,711
Professional fees and other costs, net of receipt of insurance claim payments	1,375			152		1,527			2,365			397		2,762
Impairment of assets	8,499			—		8,499			12,833			1,620		14,453
Reversal of excess restructuring reserves	(585		)	—		(585		)	(2,021		)	—		(2,021		)
	$	13,979		$	152	$	14,131		$	32,888		$	2,017	$	34,905
Cash	$	5,480		$	152	$	5,632		$	20,055		$	397	$	20,452
Non-cash	8,499			—		8,499			12,833			1,620		14,453
	$	13,979		$	152	$	14,131		$	32,888		$	2,017	$	34,905



	Three Months Ended Apr 30, 2014									Nine Months Ended Apr 30, 2014
	Restructuring (1)			Other Charges/(Gains) (2)			Total			Restructuring (1)			Other Charges/(Gains) (2)			Total
Severance benefits and other employment contract obligations	$	8,289		$	—		$	8,289		$	18,751		$	(402	)	$	18,349
Professional fees and other costs, net of receipt of insurance claim payments	567			1,498			2,065			2,704			3,693			6,397
Impairment of assets and gain on sale of assets, net	3,986			(1,640		)	2,346			3,986			(1,480		)	2,506
Environmental matters	—			—			—			—			4,440			4,440
Reversal of excess restructuring reserves	(1,158		)	—			(1,158		)	(1,782		)	—			(1,782		)
	$	11,684		$	(142	)	$	11,542		$	23,659		$	6,251		$	29,910
Cash	$	7,698		$	(142	)	$	7,556		$	19,673		$	6,091		$	25,764
Non-cash	3,986			—			3,986			3,986			160			4,146
	$	11,684		$	(142	)	$	11,542		$	23,659		$	6,251		$	29,910

(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 and global 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 the three and nine months ended April 30, 2015 and April 30, 2014 primarily reflect the expenses incurred in connection with the Company’s structural cost improvement initiative as discussed above. In addition, restructuring charges recorded in the three and nine months ended April 30, 2015 include the impairment of assets related to a building held for sale. Restructuring charges recorded in the nine months ended April 30, 2015 include the impairment of assets related to the exit of an immaterial product line. Restructuring charges in the three and nine months ended April 30, 2014 include the impairment of assets related to the discontinuance of a specific manufacturing line due to excess capacity as a result of acquisitions.

(2) Other Charges/(Gains):

Severance benefits and other employment contract obligations: In the nine months ended April 30, 2014, the Company recorded adjustments related to certain employment contract obligations.

Professional fees and other: In the three months ended April 30, 2014, the Company recorded costs related to the settlement of a legal matter. In the three and nine months ended April 30, 2014, the Company recorded acquisition related legal and other professional fees.

Impairment of assets and gain on sales of assets, net: In the nine months ended April 30, 2015, the Company recorded an impairment related to a redundant software project. In the three months ended April 30, 2014, the Company recorded a gain on the sale of a building in Europe.

Environmental matters: In the nine months ended April 30, 2014, the Company increased its previously established environmental reserve related to a matter in Pinellas Park, Florida.

The following table summarizes the activity related to restructuring liabilities recorded for the Company’s structural cost improvement initiative which began in fiscal year 2012:



	Severance			Other			Total
Original charge	$	61,852		$	3,448		$	65,300
Utilized	(27,365		)	(2,798		)	(30,163		)
Translation	(123		)	(47		)	(170		)
Balance at July 31, 2012	$	34,364		$	603		$	34,967
Additions	21,637			2,840			24,477
Utilized	(29,574		)	(1,936		)	(31,510		)
Reversal of excess reserves	(500		)	(57		)	(557		)
Translation	313			23			336
Balance at July 31, 2013	$	26,240		$	1,473		$	27,713
Additions	27,803			4,419			32,222
Utilized	(26,178		)	(4,596		)	(30,774		)
Reversal of excess reserves	(1,923		)	(107		)	(2,030		)
Translation	230			39			269
Balance at July 31, 2014	$	26,172		$	1,228		$	27,400
Additions	19,711			2,365			22,076
Utilized	(24,914		)	(2,084		)	(26,998		)
Reversal of excess reserves	(2,000		)	(21		)	(2,021		)
Translation	(2,194		)	(73		)	(2,267		)
Balance at April 30, 2015	$	16,775		$	1,415		$	18,190