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Income Taxes

6 Months Ended

Jan. 31, 2015

10.	Income Taxes

The estimated effective tax rate was 43.7% and 45.2% for the six months ended January 31, 2015 and 2014, respectively. The decrease was mainly a result of an increase in forecasted income from foreign entities in countries with a lower effective tax rate than in the U.S., which was partially offset by a smaller increase in forecasted income from U.S. entities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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