Goodwill

12 Months Ended

Jul. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

NOTE 5 — Goodwill

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

	July 31,
(In thousands)	2020		2019
Beginning balance	$	333,321	$	337,235
Acquisitions during the period	5,713		563
Effect of foreign currency exchange rates	4,588		(4,477)
Ending balance	$	343,622	$	333,321

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 2020 and 2019 and goodwill was not impaired.