GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jul. 31, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6 – GOODWILL AND INTANGIBLE ASSETS

The following table presents goodwill, allocated by reportable segment.

	2011		2010
Life Sciences	$	131,852	$	126,854
Industrial		158,754		156,968
	$	290,606	$	283,822

The change in the carrying amount of goodwill is attributable to changes in foreign exchange rates used to translate the goodwill contained in the financial statements of foreign subsidiaries using the rates at each respective balance sheet date.

Intangible assets consist of the following:

	2011
			Accumulated
	Gross		Amortization		Net
Patents and unpatented technology	$	102,372	$	64,921	$	37,451
Customer-related intangibles		26,478		6,598		19,880
Trademarks		6,802		4,684		2,118
Other		4,685		2,399		2,286
	$	140,337	$	78,602	$	61,735

	2010
			Accumulated
	Gross		Amortization		Net
Patents and unpatented technology	$	99,825	$	57,210	$	42,615
Customer-related intangibles		26,100		3,511		22,589
Trademarks		6,438		4,196		2,242
Other		3,488		2,107		1,381
	$	135,851	$	67,024	$	68,827

Amortization expense for intangible assets for fiscal years 2011, 2010 and 2009 was $13,645, $11,534 and $9,751, respectively. Amortization expense is estimated to be approximately $14,468 in fiscal year 2012, $9,654 in fiscal year 2013, $7,765 in fiscal year 2014, $6,254 in fiscal year 2015 and $5,058 in fiscal year 2016.

- 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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