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Line of Credit

3 Months Ended

Oct. 31, 2012

4.	Lines of Credit

The Company maintains unsecured lines of credit available for working capital and letters of credit of $32.5 million at the parent company with interest rates ranging from 2.5% to 3% at July 31, 2012 and an additional $1.6 million in lines of credit at the Company's subsidiaries with interest rates ranging from 4.5% to 5% at July 31, 2012. The Company guarantees the lines of credit of Walsh Environmental Scientists and Engineers, LLC (Walsh). Its lenders have reaffirmed the Company's lines of credit within the past twelve months. At October 31, 2012 and July 31, 2012, the Company had letters of credit and amounts outstanding under the lines of credit totaling approximately $16.1 million and $14.9 million, which is inclusive of outstanding letters of credit of $1.5 million and $4.1 million, respectively. After letters of credit and amounts outstanding under the lines of credit, there was $18.0 million of availability under the lines of credit at October 31, 2012.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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