PROPERTY AND EQUIPMENT

12 Months Ended

Jul. 31, 2019

Property, Plant and Equipment [Abstract]

Property and equipment at cost, consists of the following:



	July 31,
	2019			2018
	(In thousands)
Land	$	942		$	942
Machinery and equipment	99,961			97,149
Leasehold improvements	23,711			21,917
Software	52,961			52,082
Other	24,230			28,147
	201,805			200,237
Less: Accumulated depreciation and amortization	(110,537		)	(93,605		)
Property and equipment, net	$	91,268		$	106,632

An immaterial amount of assets are under capital leases are included in the amounts above.

During the fiscal year ended July 31, 2019, the Company determined that the fair value of a long-lived asset group in the Supply Chain segment, derived from forecasted cash flows, did not exceed its carrying value. As such, the Company recorded an impairment of long-lived assets of $3.0 million as a component of cost of revenues.

The Company recorded depreciation expense of $22.1 million and $16.8 million for the fiscal years ended July 31, 2019 and 2018, respectively. Depreciation expense within the Supply Chain and Direct Marketing segments was $5.6 million, and $16.4 million, respectively, for the year ended July 31, 2019. Depreciation expense within the Supply Chain and Direct Marketing segments was $6.8 million and $10.0 million, respectively, for the year ended July 31, 2018. Amortization of assets recorded under capital leases is included in the depreciation expense amounts.

During the twelve months ended July 31, 2018, the Company received $20.7 million in proceeds associated with the sale of property and equipment. During the twelve months ended July 31, 2018, the Company recognized $12.7 million in gains associated with the sale of property.