FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jan. 31, 2018

Financial Assets Measured at Fair Value on Recurring Basis and Classified by Fair Value Hierarchy

The following tables present the Company’s financial assets measured at fair value on a recurring basis as of January 31, 2018 and July 31, 2017, classified by fair value hierarchy:

			Fair Value Measurements at Reporting Date Using
(In thousands)	January 31, 2018		Level 1		Level 2		Level 3
Assets:
Money market funds	$	41,034	$	41,034	$	—	$	—
			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2017		Level 1		Level 2		Level 3
Assets:
Marketable equity securities	$	11,898	$	11,898	$	—	$	—
Money market funds		85,683		85,683		—		—

Notes Payable not Carried at Fair Value

The following table presents the Company’s Notes payable not carried at fair value:

	January 31, 2018				July 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)
Notes payable	$	62,062	$	66,188	$	59,758	$	63,852		Level 1