Goodwill

12 Months Ended

Jul. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

5 — Goodwill

The change in the carrying amount of goodwill was as follows:

	July 31,
(In thousands)	2018			2017
Beginning balance	$	340,243		$	260,198
Goodwill recorded during the period	(1,839		)	79,256
Effect of foreign currency exchange rates	(1,169		)	789
Ending balance	$	337,235		$	340,243

In accordance with the guidance in ASC 350, goodwill is tested for impairment on an annual basis or upon the occurrence of circumstances that indicate that goodwill may be impaired. The Company’s annual impairment tests were performed during the fourth quarter of fiscal 2018 and 2017 and goodwill was not impaired. As of July 31, 2018 and 2017, the cumulative amount of goodwill impairment losses recognized totaled $21.8 million.