Goodwill

12 Months Ended

Jul. 31, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

(7) Goodwill

The change in carrying amount of goodwill is as follows (in thousands):

Balance as of July 31, 2009	$	166,327
Goodwill recorded during the period		12,599
Effect of foreign currency translation		(3,056	)
Balance as of July 31, 2010	$	175,870
Goodwill recorded during the period		19,309
Effect of foreign currency translation		3,441
Balance as of July 31, 2011	$	198,620

 

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 in the fourth quarter of fiscal 2011 and 2010 and goodwill was not impaired. As of July 31, 2011 and 2010, the cumulative amount of goodwill impairment losses recognized totaled $21.8 million.