XML 19 R19.htm IDEA: XBRL DOCUMENT v3.19.3
Lines of Credit
12 Months Ended
Jul. 31, 2019
Lines of Credit [Abstract]  
Lines of Credit
11.
Lines of Credit

Unsecured lines of credit are summarized in the following table.

  
July 31,
 
 
 
2019
  
2018
 
  
(in thousands)
 
    
Outstanding cash advances reported as lines of credit
 
$
284
  
$
---
 
Outstanding letters of credit to support operations
  
1,635
   
1,668
 
Total amounts used under lines of credit 
  
1,919
   
1,668
 
Remaining amounts available under lines of credit
  
33,681
   
33,932
 
Total unsecured lines of credit  
 
$
35,600
  
$
35,600
 

The Company’s U.S. operations are supported by two line of credit arrangements:

$19.0 million available line of credit at July 31, 2019; no outstanding cash advances as of July 31, 2019 or 2018; letters of credit of less than $0.1 million were outstanding at July 31, 2019 and 2018; interest rate based on LIBOR plus 275 basis points; and

$13.5 million available line of credit at July 31, 2019; no outstanding cash advances as of July 31, 2019 or 2018; letters of credit of less than $0.1 million outstanding at July 31, 2019 and 2018; interest rate based on LIBOR plus 200 basis points.

The Company’s South American operations are supported by two line of credit arrangements:

$2.0 million available line of credit at July 31, 2019 to support operations in Peru; no outstanding cash advances as of July 31, 2019 or 2018; letters of credit of $1.0 million was outstanding as of July 31, 2019 and 2018, respectively; interest rate is affirmed by or negotiated with the lender annually; and

$1.1 million available line of credit at July 31, 2019 to support operations in Brazil; combined balance of outstanding cash advances of $0.3 million and $0 as of July 31, 2019 and 2018, respectively; letters of credit of $0.6 million were outstanding as of July 31, 2019 and 2018, respectively; interest rate based on a Brazilian government economic index.