GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jan. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents goodwill, allocated by reportable segment.



	Jan 31, 2012		July 31, 2011
Life Sciences	$	130,763	$	131,852
Industrial	161,836		158,754
	$	292,599	$	290,606

Intangible assets, net, consist of the following:



	Jan 31, 2012
	Gross		Accumulated Amortization		Net
Patents and unpatented technology	$	100,550	$	68,351	$	32,199
Customer-related intangibles	51,439		9,036		42,403
Trademarks	6,946		4,925		2,021
Other	5,254		2,734		2,520
	$	164,189	$	85,046	$	79,143
	July 31, 2011
	Gross		Accumulated 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

The changes in both goodwill and intangible assets relate to an acquisition in Brazil in the first quarter of fiscal year 2012. In connection with the acquisition, the Company recorded the fair value of the intangible assets acquired (approximately $20,000, with the majority recorded as customer-related intangibles), which were valued using the income approach. The amount of goodwill recorded in connection with this acquisition was approximately $10,000. In addition, the carrying amounts were also impacted by changes in foreign exchange rates used to translate the goodwill and intangible assets contained in the financial statements of foreign subsidiaries using the rates at each respective balance sheet date.

Amortization expense for intangible assets for the three and six months ended January 31, 2012 was $4,598 and $8,790, respectively. Amortization expense for intangible assets for the three and six months ended January 31, 2011 was $3,313 and $6,509, respectively. Amortization expense, excluding any impact of the acquisition of ForteBio®, Inc., for which a valuation has not yet been completed (see Note 16, Subsequent Event, for further details), is estimated to be approximately $9,129 for the remainder of fiscal year 2012, $12,394 in fiscal year 2013, $10,295 in fiscal year 2014, $8,637 in fiscal year 2015, $7,509 in fiscal year 2016 and $7,419 in fiscal year 2017.

- 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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