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DEFINED BENEFIT PENSION PLANS (Tables)
12 Months Ended
Jul. 31, 2012
Aggregate Change in Benefit Obligation and Plan Assets

The aggregate change in benefit obligation and plan assets related to these plans was as follows:

 

     July 31,  
     2012     2011     2010  
     (in thousands)  

Change in benefit obligation

      

Benefit obligation at beginning of year

   $ 13,791      $ 11,441      $ 11,224   

Service cost

     368        365        339   

Interest cost

     589        617        510   

Actuarial (gain) loss

     4,300        192        266   

Employee contributions

     328        390        385   

Benefits and administrative expenses paid

     (404     (184     (610

Amendments

     —          —          (82

Transfers

     —          1        —     

Effect of Curtailment

     —          (228     —     

Currency translation

     (1,813     1,197        (591
  

 

 

   

 

 

   

 

 

 

Benefit obligation at end of year

     17,159        13,791        11,441   
  

 

 

   

 

 

   

 

 

 

Change in plan assets

      

Fair value of plan assets at beginning of year

     15,652        12,265        10,615   

Actual return on plan assets

     276        597        271   

Employee contributions

     328        390        385   

 

Employer contributions

     498        1,300        1,839   

Benefits and administrative expenses paid

     (404     (180     (155

Transfers

     —          1        —     

Currency translation

     (2,199     1,279        (690
  

 

 

   

 

 

   

 

 

 

Fair value of plan assets at end of year

     14,151        15,652        12,265   
  

 

 

   

 

 

   

 

 

 

Funded status

      

Assets

     37        2,886        1,940   

Current liability

     (1     (1     (1

Noncurrent liability

     (3,049     (1,028     (1,116
  

 

 

   

 

 

   

 

 

 

Net amount recognized in statement of financial position as a non-current asset (liability)

   $ (3,013   $ 1,857      $ 823   
  

 

 

   

 

 

   

 

 

 
Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:

 

     Years Ended July 31,
     2012    2011    2010
     (in thousands)

Projected benefit obligation

   $2,064    $2,047    $1,991

Accumulated benefit obligation

   $1,290    $1,241    $1,171

Fair value of plan assets

   $1,024    $1,018    $875
Components of Net Periodic Pension Cost

Components of net periodic pension cost were as follows:

 

     Years Ended July 31,  
     2012     2011     2010     2009  
     (in thousands)  

Service cost

   $ 368      $ 365      $ 339      $ 711   

Interest costs

     589        617        510        634   

Expected return on plan assets

     (473     (477     (462     (546

Amortization of net actuarial loss

     (88     (114     (144     (135
  

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic pension costs

   $ 396      $ 391      $ 243      $ 664   
  

 

 

   

 

 

   

 

 

   

 

 

 
Summary of Expected Benefit Payments from the Plans through Fiscal 2022

The following table summarizes expected benefit payments from the plans through fiscal year 2022. Actual benefit payments may differ from expected benefit payments. The minimum required contributions to the plan are expected to be approximately $0.8 million in fiscal year 2013.

 

     Pension Benefit
Payments
 
     (in thousands)  

For the fiscal years ended July 31:

  

2013

   $ 55   

2014

   $ 62   

2015

   $ 90   

2016

   $ 141   

2017

   $ 172   

Next 5 years

   $ 1,309   
Defined Contribution Pension [Member]
 
Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted-average assumptions used to determine net periodic pension cost was as follows:

 

     Years Ended July 31,  
     2012     2011     2010     2009  

Discount rate

     5.50     5.50     5.50     6.25

Expected long-term rate of return on plan assets

     3.34     3.50     4.25     4.75

Rate of compensation increase

     2.00     2.00     2.00     2.50
Supplemental Employee Retirement Plan Agreements Benefits [Member]
 
Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted-average assumptions used to determine benefit obligations was as follows:

 

     Years Ended July 31,      
     2012     2011     2010      

Discount rate

     3.95     5.50     5.50  

Rate of compensation increase

     2.12     2.00     2.00