OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Jul. 31, 2011

Equity [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 17 – OTHER COMPREHENSIVE INCOME (LOSS)

The Company has elected to report comprehensive income in the consolidated statements of stockholders’ equity. The changes in the components of other comprehensive income (loss) are as follows:

	Pretax						Net
	Amount			Tax Effect			Amount
2011
Foreign currency translation	$	101,553		$	8,676		$	110,229
Pension liability adjustment		14,560			(3,814	)		10,746
Unrealized investment gains (a)		6,368			(2,292	)		4,076
Other comprehensive income	$	122,481		$	2,570		$	125,051
2010
Foreign currency translation	$	(31,167	)	$	1,401		$	(29,766	)
Pension liability adjustment		(34,519	)		10,919			(23,600	)
Unrealized investment gains (a)		2,692			(691	)		2,001
Unrealized gains on derivatives		688			(244	)		444
Other comprehensive loss	$	(62,306	)	$	11,385		$	(50,921	)

2009
Foreign currency translation	$	(50,115	)	$	(2,299	)	$	(52,414	)
Pension liability adjustment		(69,293	)		21,638			(47,655	)
Unrealized investment gains (a)		958			122			1,080
Unrealized losses on derivatives		(256	)		89			(167	)
Other comprehensive loss	$	(118,706	)	$	19,550		$	(99,156	)

 (a) The unrealized gains (losses) on available-for-sale securities, net of related taxes, consisted of the following:

	2011		2010			2009
Net unrealized gains/(losses) arising during the period, net of tax
(expense)/benefit of $(2,292), $(691) and $122 in 2011, 2010 and
2009, respectively	$	4,076	$	4,880		$	(958	)
Realized gain included in net earnings for the period		–		(2,879	)		–
Adjustment for unrealized loss included in net earnings due to
impairment		–		–			2,038
Other comprehensive income	$	4,076	$	2,001		$	1,080