Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | ||
Oct. 31, 2014 | Nov. 28, 2014 | Nov. 28, 2014 | |
Class A nonvoting common stock | Class B voting common stock | ||
Entity Information [Line Items] | ' | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Oct-14 | ' | ' |
Document Fiscal Year Focus | '2015 | ' | ' |
Document Fiscal Period Focus | 'Q1 | ' | ' |
Trading Symbol | 'BRC | ' | ' |
Entity Registrant Name | 'BRADY CORP | ' | ' |
Entity Central Index Key | '0000746598 | ' | ' |
Current Fiscal Year End Date | '--07-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 47,721,151 | 3,538,628 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $116,474 | $81,834 |
Accounts receivablebnet | 174,926 | 177,648 |
Inventories: | ' | ' |
Finished products | 74,428 | 73,096 |
Work-in-process | 19,271 | 17,689 |
Raw materials and supplies | 24,109 | 22,490 |
Total inventories | 117,808 | 113,275 |
Assets held for sale | 0 | 49,542 |
Prepaid expenses and other current assets | 43,475 | 41,543 |
Total current assets | 452,683 | 463,842 |
Other assets: | ' | ' |
Goodwill | 501,794 | 515,004 |
Other intangible assets | 86,651 | 91,014 |
Deferred income taxes | 23,094 | 27,320 |
Other | 21,633 | 22,314 |
Property, plant and equipment, cost: | ' | ' |
Land | 7,710 | 7,875 |
Buildings and improvements | 106,636 | 101,866 |
Machinery and equipment | 292,183 | 288,409 |
Construction in progress | 10,331 | 12,500 |
Property, plant and equipment, gross | 416,860 | 410,650 |
Less accumulated depreciation | 280,277 | 276,479 |
Property, plant and equipmentbnet | 136,583 | 134,171 |
Total | 1,222,438 | 1,253,665 |
Current liabilities: | ' | ' |
Notes payable | 94,708 | 61,422 |
Accounts payable | 84,199 | 88,099 |
Wages and amounts withheld from employees | 33,596 | 38,064 |
Liabilities held for sale | 0 | 10,640 |
Taxes, other than income taxes | 7,890 | 7,994 |
Accrued income taxes | 9,227 | 7,893 |
Other current liabilities | 46,362 | 35,319 |
Current maturities on long-term debt | 42,514 | 42,514 |
Total current liabilities | 318,496 | 291,945 |
Long-term obligations, less current maturities | 153,476 | 159,296 |
Other liabilities | 69,472 | 69,348 |
Total liabilities | 541,444 | 520,589 |
Stockholdersb investment: | ' | ' |
Class A nonvoting common stockbIssued 51,261,487 and 51,261,487 shares, respectively and outstanding 47,714,986 and 47,704,196 shares, respectively | 513 | 513 |
Class B voting common stockbIssued and outstanding, 3,538,628 shares | 35 | 35 |
Additional paid-in capital | 314,128 | 311,811 |
Earnings retained in the business | 455,450 | 452,057 |
Treasury stockb3,546,501 and 3,477,291 shares, respectively of Class A nonvoting common stock, at cost | -95,011 | -93,337 |
Accumulated other comprehensive income | 8,565 | 64,156 |
Other | -2,686 | -2,159 |
Total stockholdersb investment | 680,994 | 733,076 |
Total | $1,222,438 | $1,253,665 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) | Oct. 31, 2014 | Jul. 31, 2014 |
Class A nonvoting common stock | ' | ' |
Common stock, shares issued | 51,261,487 | 51,261,487 |
Common stock, shares outstanding | 47,714,986 | 47,704,196 |
Treasury stock, shares | 3,546,501 | 3,477,291 |
Class B voting common stock | ' | ' |
Common stock, shares issued | 3,538,628 | 3,538,628 |
Common stock, shares outstanding | 3,538,628 | 3,538,628 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Net sales | $310,240 | $307,530 |
Cost of products sold | 160,079 | 149,683 |
Gross margin | 150,161 | 157,847 |
Operating expenses: | ' | ' |
Research and development | 9,631 | 8,587 |
Selling, general and administrative | 109,279 | 112,733 |
Restructuring charges | 4,278 | 6,840 |
Total operating expenses | 123,188 | 128,160 |
Operating income | 26,973 | 29,687 |
Other income and (expense): | ' | ' |
Investment and other income | 323 | 762 |
Interest expense | -2,891 | -3,720 |
Earnings from continuing operations before income taxes | 24,405 | 26,729 |
Income tax expense | 8,906 | 8,595 |
Earnings from continuing operations | 15,499 | 18,134 |
(Loss) earnings from discontinued operations, net of income taxes | -1,915 | 5,794 |
Net earnings | 13,584 | 23,928 |
Weighted average common shares outstanding (in thousands): | ' | ' |
Weighted average common shares outstanding, basic (in thousands): | 51,251 | 52,071 |
Weighted average common shares outstanding, diluted (in thousands): | 51,313 | 52,419 |
Class A nonvoting common stock | ' | ' |
Other income and (expense): | ' | ' |
Earnings from continuing operations | 15,499 | 18,089 |
Earnings Per Share | ' | ' |
Earnings from continuing operations per basic share | $0.30 | $0.35 |
Earnings from continuing operations per diluted share | $0.30 | $0.35 |
(Loss) earnings from discontinued operations per basic share | ($0.03) | $0.11 |
(Loss) earnings from discontinued operations per diluted share | ($0.04) | $0.11 |
Net earnings per share, basic | $0.27 | $0.46 |
Net earnings per share, diluted | $0.26 | $0.46 |
Dividends | $0.20 | $0.20 |
Class B voting common stock | ' | ' |
Other income and (expense): | ' | ' |
Earnings from continuing operations | $14,704 | $17,270 |
Earnings Per Share | ' | ' |
Earnings from continuing operations per basic share | $0.29 | $0.33 |
Earnings from continuing operations per diluted share | $0.29 | $0.33 |
(Loss) earnings from discontinued operations per basic share | ($0.04) | $0.11 |
(Loss) earnings from discontinued operations per diluted share | ($0.04) | $0.11 |
Net earnings per share, basic | $0.25 | $0.44 |
Net earnings per share, diluted | $0.25 | $0.44 |
Dividends | $0.18 | $0.18 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Net earnings | $13,584 | $23,928 |
Foreign currency translation adjustments: [Abstract] | ' | ' |
Net (loss) gain recognized in other comprehensive income | -24,303 | 16,535 |
Reclassification adjustment for gains included in net earnings | -34,697 | 0 |
Total foreign currency translation adjustments | -59,000 | 16,535 |
Net investment hedge translation adjustments | 8,151 | -4,713 |
Long-term intercompany loan translation adjustments: [Abstract] | ' | ' |
Net loss recognized in other comprehensive income | -1,350 | -173 |
Reclassification adjustment for gains included in net earnings | -393 | 0 |
Total intercompany loan translation adjustments | -1,743 | -173 |
Cash flow hedges: | ' | ' |
Net gain (loss) recognized in other comprehensive income | 601 | -15 |
Reclassification adjustment for losses (gains) included in net earnings | 21 | -90 |
Total cash flow hedges | 622 | -105 |
Pension and other post-retirement benefits: | ' | ' |
Actuarial gain amortization | -214 | -66 |
Prior service credit amortization | -81 | -51 |
Total pension and post-retirement benefits | -295 | -117 |
Other comprehensive (loss) income, before tax | -52,265 | 11,600 |
Income tax (expense) benefit related to items of other comprehensive income | -3,326 | 2,642 |
Other comprehensive (loss) income, net of tax | -55,591 | 14,242 |
Comprehensive (loss) income | ($42,007) | $38,170 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Operating activities: | ' | ' |
Net earnings | $13,584 | $23,928 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 10,123 | 10,878 |
Non-cash portion of stock-based compensation expense | 1,319 | 2,600 |
Non-cash portion of restructuring charges | 196 | 0 |
Loss on sale of business, net | 426 | 0 |
Deferred income taxes | 2,346 | -2,421 |
Changes in operating assets and liabilities (net of effects of business acquisitions/divestitures): | ' | ' |
Accounts receivable | -3,916 | -18,551 |
Inventories | -7,077 | -12,461 |
Prepaid expenses and other assets | -2,999 | -5,372 |
Accounts payable and accrued liabilities | 2,897 | 25,903 |
Income taxes | 1,705 | 1,089 |
Net cash provided by operating activities | 18,604 | 25,593 |
Investing activities: | ' | ' |
Purchases of property, plant and equipment | -11,451 | -9,086 |
Sale of business, net of cash retained | 8,771 | 0 |
Other | 592 | -70 |
Net cash used in investing activities | -2,088 | -9,156 |
Financing activities: | ' | ' |
Payments of Dividends | -10,191 | -10,149 |
Proceeds from issuance of common stock | 91 | 5,209 |
Proceeds from borrowing on notes payable | 41,000 | 0 |
Repayment of borrowing on notes payable | -7,714 | -24,000 |
Income tax on the exercise of stock options and deferred compensation distributions, and other | -1,296 | -719 |
Net cash provided by (used in) financing activities | 21,890 | -29,659 |
Effect of exchange rate changes on cash | -3,766 | 4,033 |
Net increase (decrease) in cash and cash equivalents | 34,640 | -9,189 |
Cash and cash equivalents, beginning of period | 81,834 | 91,058 |
Cash and cash equivalents, end of period | 116,474 | 81,869 |
Cash paid during the period for: | ' | ' |
Interest | 3,032 | 4,151 |
Income taxes, net of refunds | $7,323 | $10,006 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Oct. 31, 2014 | |
Text Block [Abstract] | ' |
Basis of Presentation | ' |
NOTE A — Basis of Presentation | |
The condensed consolidated financial statements included herein have been prepared by Brady Corporation and subsidiaries (the "Company," "Brady," "we," or "our") without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of the Company, the foregoing statements contain all adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial position of the Company as of October 31, 2014 and July 31, 2014, its results of operations and comprehensive (loss) income for the three months ended October 31, 2014 and 2013, and cash flows for the three months ended October 31, 2014 and 2013. The consolidated balance sheet as of July 31, 2014 has been derived from the audited consolidated financial statements of that date. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from the estimates. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to rules and regulations of the Securities and Exchange Commission. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statement presentation. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s latest annual report on Form 10-K for the year ended July 31, 2014. | |
The Company entered into an agreement with LTI Flexible Products, Inc. (d/b/a Boyd Corporation) on February 24, 2014, for the sale of the Die-Cut business. The first phase of this divestiture closed on May 1, 2014 and included the Die-Cut businesses in Korea, Thailand and Malaysia, and the Balkhausen business in Europe. The remainder of the Die-Cut business was located in China and was divested on August 1, 2014. The assets and liabilities were reclassified in accordance with the authoritative literature on assets held for sale in the consolidated balance sheet as of July 31, 2014. The results of operations of the Company's Die-Cut business have been reported as discontinued operations within the condensed consolidated statements of earnings for all periods presented. In accordance with the authoritative literature, the Company has elected to not separately disclose the cash flows or other comprehensive income related to discontinued operations. Refer to Note K, "Discontinued Operations" for further discussion regarding the business. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 3 Months Ended | |||||||||||||||||||||||||||
Oct. 31, 2014 | ||||||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ||||||||||||||||||||||||||||
Changes in the carrying amount of goodwill for the three months ended October 31, 2014, were as follows: | ||||||||||||||||||||||||||||
IDS | WPS | Total | ||||||||||||||||||||||||||
Balance as of July 31, 2014 | $ | 412,289 | $ | 102,715 | $ | 515,004 | ||||||||||||||||||||||
Translation adjustments | (8,205 | ) | (5,005 | ) | $ | (13,210 | ) | |||||||||||||||||||||
Balance as of October 31, 2014 | $ | 404,084 | $ | 97,710 | $ | 501,794 | ||||||||||||||||||||||
Goodwill at October 31, 2014 included $118,637 and $172,280 of accumulated impairment losses within the IDS and WPS segments, respectively, for a total of $290,917. There were no impairment charges recorded during the three months ended October 31, 2014. | ||||||||||||||||||||||||||||
Other intangible assets include patents, trademarks, customer relationships, non-compete agreements and other intangible assets with finite lives being amortized in accordance with the accounting guidance for other intangible assets. The Company also has unamortized indefinite-lived trademarks that are classified as other intangible assets. The net book value of these assets was as follows: | ||||||||||||||||||||||||||||
31-Oct-14 | 31-Jul-14 | |||||||||||||||||||||||||||
Weighted | Gross | Accumulated | Net Book | Weighted | Gross | Accumulated | Net Book | |||||||||||||||||||||
Average | Carrying | Amortization | Value | Average | Carrying | Amortization | Value | |||||||||||||||||||||
Amortization | Amount | Amortization | Amount | |||||||||||||||||||||||||
Period | Period | |||||||||||||||||||||||||||
(Years) | (Years) | |||||||||||||||||||||||||||
Amortized other intangible assets: | ||||||||||||||||||||||||||||
Patents | 5 | $ | 11,708 | $ | (10,257 | ) | $ | 1,451 | 5 | $ | 11,656 | $ | (10,160 | ) | $ | 1,496 | ||||||||||||
Trademarks and other | 5 | 15,002 | (11,071 | ) | 3,931 | 5 | 15,366 | (10,706 | ) | 4,660 | ||||||||||||||||||
Customer relationships | 7 | 143,903 | (92,472 | ) | 51,431 | 7 | 168,525 | (114,363 | ) | 54,162 | ||||||||||||||||||
Non-compete agreements and other | 4 | 9,841 | (9,697 | ) | 144 | 4 | 10,089 | (9,622 | ) | 467 | ||||||||||||||||||
Unamortized other intangible assets: | ||||||||||||||||||||||||||||
Trademarks | N/A | 29,694 | — | 29,694 | N/A | 30,229 | — | 30,229 | ||||||||||||||||||||
Total | $ | 210,148 | $ | (123,497 | ) | $ | 86,651 | $ | 235,865 | $ | (144,851 | ) | $ | 91,014 | ||||||||||||||
The gross carrying amount of goodwill and other intangible assets in the condensed consolidated balance sheets at October 31, 2014 differs from the value assigned to them in the original allocation of purchase price due to impairments and the effect of currency fluctuations between the date of acquisition and October 31, 2014. | ||||||||||||||||||||||||||||
Amortization expense on intangible assets was $3,369 and $5,077 for the three months ended October 31, 2014 and 2013, respectively. The amortization over each of the next five fiscal years is projected to be $12,212, $10,051, $7,616, $6,771 and $6,451 for the fiscal years ending July 31, 2015, 2016, 2017, 2018 and 2019, respectively. |
Other_Comprehensive_Income_Oth
Other Comprehensive Income Other Comprehensive Income, Tax (Notes) | 3 Months Ended | |||||||||||||||
Oct. 31, 2014 | ||||||||||||||||
Other Comprehensive Income, Tax [Abstract] | ' | |||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | |||||||||||||||
Comprehensive Income | ||||||||||||||||
Other comprehensive income consists of foreign currency translation adjustments, unrealized gains and losses from cash flow hedges and net investment hedges, and the unamortized gain on post-retirement plans, net of their related tax effects. | ||||||||||||||||
The following table illustrates the changes in the balances of each component of accumulated other comprehensive income, net of tax, for the three months ended October 31, 2014: | ||||||||||||||||
Unrealized gain on cash flow hedges | Unamortized gain on post-retirement plans | Foreign currency translation adjustments | Accumulated other comprehensive income | |||||||||||||
Beginning balance, July 31, 2014 | $ | (12 | ) | $ | 4,854 | $ | 59,314 | $ | 64,156 | |||||||
Other comprehensive income (loss) before reclassification | 418 | — | (21,030 | ) | (20,612 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive income | 13 | (295 | ) | (34,697 | ) | (34,979 | ) | |||||||||
Ending balance, October 31, 2014 | $ | 419 | $ | 4,559 | $ | 3,587 | $ | 8,565 | ||||||||
The decrease in accumulated other comprehensive income ("AOCI") as of October 31, 2014 compared to July 31, 2014 was primarily due to the accumulated foreign currency translation gains in the China Die-Cut businesses, which were reclassified into net earnings upon the completion of the second phase of the Die-Cut divestiture during the three months ended October 31, 2014. The appreciation of the U.S. dollar against other currencies also contributed to the decrease in AOCI during the quarter. The foreign currency translation adjustments column in the table above includes the impact of foreign currency translation, foreign currency translation on intercompany notes, and the settlements of net investment hedges, net of tax. Of the total $34,979 in amounts reclassified from accumulated other comprehensive income, the $34,697 gain was reclassified to the net loss on the sale of the Die-Cut business, the $13 loss on cash flow hedges was reclassified into cost of products sold, and the $295 gain on post-retirement plans was reclassified into SG&A on the condensed consolidated statement of earnings for the three months ended October 31, 2014. | ||||||||||||||||
The changes in accumulated other comprehensive income by component, net of tax, for the three months ended October 31, 2013 were as follows: | ||||||||||||||||
Unrealized gain on cash flow hedges | Unamortized gain on post-retirement plans | Foreign currency translation adjustments | Accumulated other comprehensive income | |||||||||||||
Beginning balance, July 31, 2013 | $ | 99 | $ | 1,853 | $ | 54,111 | $ | 56,063 | ||||||||
Other comprehensive income (loss) before reclassification | (32 | ) | — | 14,273 | 14,241 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | (55 | ) | (117 | ) | — | (172 | ) | |||||||||
Ending balance, October 31, 2013 | $ | 12 | $ | 1,736 | $ | 68,384 | $ | 70,132 | ||||||||
The increase in accumulated other comprehensive income for the three months ended October 31, 2013 compared to July 31, 2013 was primarily due to the appreciation of the U.S. dollar against other currencies. Of the total $172 in amounts reclassified from accumulated other comprehensive income, the $55 gain on cash flow hedges was reclassified into cost of products sold and the $117 gain on post-retirement plans was reclassified into SG&A on the condensed consolidated statement of earnings for the three months ended October 31, 2013. | ||||||||||||||||
The following table illustrates the income tax (expense) benefit on the components of other comprehensive income for the three months ended October 31, 2014 and 2013: | ||||||||||||||||
Three months ended October 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income tax (expense) benefit related to items of other comprehensive income: | ||||||||||||||||
Net investment hedge translation adjustments | $ | (3,179 | ) | $ | 1,314 | |||||||||||
Long-term intercompany loan settlements | — | 1,403 | ||||||||||||||
Cash flow hedges | (203 | ) | 18 | |||||||||||||
Other income tax adjustments and currency translation | 56 | (93 | ) | |||||||||||||
Income tax (expense) benefit related to items of other comprehensive income | $ | (3,326 | ) | $ | 2,642 | |||||||||||
Net_Income_per_Common_Share
Net Income per Common Share | 3 Months Ended | |||||||
Oct. 31, 2014 | ||||||||
Text Block [Abstract] | ' | |||||||
Net Income per Common Share | ' | |||||||
Net Earnings per Common Share | ||||||||
Reconciliations of the numerator and denominator of the basic and diluted per share computations for the Company’s Class A and Class B common stock are summarized as follows: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Numerator: (in thousands) | ||||||||
Earnings from continuing operations | $ | 15,499 | $ | 18,134 | ||||
Less: | ||||||||
Restricted stock dividends | — | (45 | ) | |||||
Numerator for basic and diluted earnings from continuing operations per Class A Nonvoting Common Share | $ | 15,499 | $ | 18,089 | ||||
Less: | ||||||||
Preferential dividends | (794 | ) | (813 | ) | ||||
Preferential dividends on dilutive stock options | (1 | ) | (6 | ) | ||||
Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share | $ | 14,704 | $ | 17,270 | ||||
Denominator: (in thousands) | ||||||||
Denominator for basic earnings from continuing operations per share for both Class A and Class B | 51,251 | 52,071 | ||||||
Plus: Effect of dilutive stock options | 62 | 348 | ||||||
Denominator for diluted earnings from continuing operations per share for both Class A and Class B | 51,313 | 52,419 | ||||||
Earnings from continuing operations per Class A Nonvoting Common Share: | ||||||||
Basic | $ | 0.3 | $ | 0.35 | ||||
Diluted | $ | 0.3 | $ | 0.35 | ||||
Earnings from continuing operations per Class B Voting Common Share: | ||||||||
Basic | $ | 0.29 | $ | 0.33 | ||||
Diluted | $ | 0.29 | $ | 0.33 | ||||
(Loss) earnings from discontinued operations per Class A Nonvoting Common Share: | ||||||||
Basic | $ | (0.03 | ) | $ | 0.11 | |||
Diluted | $ | (0.04 | ) | $ | 0.11 | |||
(Loss) earnings from discontinued operations per Class B Voting Common Share: | ||||||||
Basic | $ | (0.04 | ) | $ | 0.11 | |||
Diluted | $ | (0.04 | ) | $ | 0.11 | |||
Net earnings per Class A Nonvoting Common Share: | ||||||||
Basic | $ | 0.27 | $ | 0.46 | ||||
Diluted | $ | 0.26 | $ | 0.46 | ||||
Net earnings per Class B Voting Common Share: | ||||||||
Basic | $ | 0.25 | $ | 0.44 | ||||
Diluted | $ | 0.25 | $ | 0.44 | ||||
Options to purchase approximately 3,897,000 and 2,505,000 shares of Class A Nonvoting Common Stock for the three months ended October 31, 2014 and 2013, respectively, were not included in the computation of diluted net earnings or loss per share because the option exercise price was greater than the average market price of the common shares and, therefore, the effect would have been anti-dilutive. |
Segment_Information
Segment Information | 3 Months Ended | |||||||
Oct. 31, 2014 | ||||||||
Text Block [Abstract] | ' | |||||||
Segment Information | ' | |||||||
Segment Information | ||||||||
The Company is organized and managed on a global basis within two business platforms: Identification Solutions and Workplace Safety, which are the reportable segments. | ||||||||
The Company evaluates short-term segment performance based on segment profit or loss and customer sales. Segment profit or loss does not include certain administrative costs, such as the cost of finance, information technology, human resources, legal, and executive leadership, which are managed as global functions. Restructuring charges, impairment charges, equity compensation costs, interest expense, investment and other income (expense) and income taxes are also excluded when evaluating segment performance. | ||||||||
Each business platform has a President that reports directly to the Company's chief operating decision maker, its Chief Executive Officer. Each platform has its own distinct operations, is managed locally by its own management team, maintains its own financial reports and is evaluated based on global segment profit. The Company has determined that these business platforms comprise its operating and reportable segments based on the information used by the Chief Executive Officer to allocate resources and assess performance. | ||||||||
The segment results have been adjusted to reflect continuing operations in all periods presented. The following is a summary of segment information for the three months ended October 31, 2014 and 2013: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Sales to External Customers | ||||||||
ID Solutions | $ | 212,097 | $ | 209,546 | ||||
Workplace Safety | 98,143 | 97,984 | ||||||
Total Company | $ | 310,240 | $ | 307,530 | ||||
Segment Profit | ||||||||
ID Solutions | $ | 43,467 | $ | 50,967 | ||||
Workplace Safety | 15,539 | 18,374 | ||||||
Total Company | $ | 59,006 | $ | 69,341 | ||||
The following is a reconciliation of segment profit to earnings from continuing operations before income taxes for the three months ended October 31, 2014 and 2013: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Total profit from reportable segments | $ | 59,006 | $ | 69,341 | ||||
Unallocated amounts: | ||||||||
Administrative costs | (27,755 | ) | (32,814 | ) | ||||
Restructuring charges | (4,278 | ) | (6,840 | ) | ||||
Investment and other income | 323 | 762 | ||||||
Interest expense | (2,891 | ) | (3,720 | ) | ||||
Earnings from continuing operations before income taxes | $ | 24,405 | $ | 26,729 | ||||
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | ||||||||||||
Oct. 31, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
The Company has an incentive stock plan under which the Board of Directors may grant nonqualified stock options to purchase shares of Class A Nonvoting Common Stock, restricted stock unit awards ("RSUs"), or restricted and unrestricted shares of Class A Nonvoting Common Stock to employees and non-employee directors. | |||||||||||||
The options issued under the plan have an exercise price equal to the fair market value of the underlying stock at the date of grant and generally vest over a three-year service period, with one-third becoming exercisable one year after the grant date and one-third additional in each of the succeeding two years. Options issued under the plan, referred to herein as “service-based” stock options, generally expire 10 years from the date of grant. | |||||||||||||
Restricted shares and RSUs issued under the plan have an issuance price equal to the fair market value of the underlying stock at the date of grant. The RSUs granted under the plan generally vest over a three-year service period, with one-third becoming exercisable one year after the grant date and one-third additional in each of the succeeding two years. The Company also grants restricted shares and RSUs to certain executives and key management employees that vest upon meeting certain financial performance conditions. | |||||||||||||
As of October 31, 2014, the Company has reserved 4,620,662 shares of Class A Nonvoting Common Stock for outstanding stock options, RSUs, and restricted and unrestricted shares and 3,325,301 shares of Class A Nonvoting Common Stock remain for future issuance of stock options, RSUs, and restricted and unrestricted shares under the active plan. The Company uses treasury stock or will issue new Class A Nonvoting Common Stock to deliver shares under the plan. | |||||||||||||
The Company recognizes the compensation cost of all share-based awards at the time it is deemed probable the award will vest. This cost is recognized on a straight-line basis over the vesting period of the award. If it is determined that it is unlikely the award will vest, the expense recognized to date for the award is reversed in the period in which this is evident and the remaining expense is not recorded. Total stock-based compensation expense recognized by the Company during the three months ended October 31, 2014 and 2013, was $1,319 ($818 net of taxes) and $2,600 ($1,586 net of taxes), respectively. | |||||||||||||
As of October 31, 2014, total unrecognized compensation cost related to stock-based compensation awards was $11,425 pre-tax, net of estimated forfeitures, which the Company expects to recognize over a weighted-average period of 2.7 years. | |||||||||||||
The Company has estimated the fair value of its service-based option awards granted during the three months ended October 31, 2014 and 2013, using the Black-Scholes option valuation model. The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table: | |||||||||||||
Three months ended October 31, | |||||||||||||
Black-Scholes Option Valuation Assumptions | 2014 | 2013 | |||||||||||
Expected term (in years) | 6.05 | 5.92 | |||||||||||
Expected volatility | 30.27 | % | 37.41 | % | |||||||||
Expected dividend yield | 2.48 | % | 2.36 | % | |||||||||
Risk-free interest rate | 1.91 | % | 1.78 | % | |||||||||
Weighted-average market value of underlying stock at grant date | $ | 22.66 | $ | 31.07 | |||||||||
Weighted-average exercise price | $ | 22.66 | $ | 31.07 | |||||||||
Weighted-average fair value of options granted during the period | $ | 6.1 | $ | 9.18 | |||||||||
The Company uses historical data regarding stock option exercise behaviors to estimate the expected term of options granted based on the period of time that options granted are expected to be outstanding. Expected volatilities are based on the historical volatility of the Company’s stock. The expected dividend yield is based on the Company’s historical dividend payments and historical yield. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the grant date for the length of time corresponding to the expected term of the option. The market value is calculated as the average of the high and the low stock price on the date of the grant. | |||||||||||||
The Company granted 612,427 service-based stock options during the three months ended October 31, 2014, with a weighted average exercise price of $22.66 and a weighted average fair value of $6.10. | |||||||||||||
A summary of stock option activity under the Company’s share-based compensation plans for the three months ended October 31, 2014 is presented below: | |||||||||||||
Options | Shares | Weighted | Weighted | Aggregate | |||||||||
Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Term | |||||||||||||
Outstanding at July 31, 2014 | 4,204,260 | $ | 30.82 | ||||||||||
New grants | 612,427 | 22.66 | |||||||||||
Exercised | -3,500 | 20.95 | |||||||||||
Forfeited or expired | -469,845 | 29.81 | |||||||||||
Outstanding at October 31, 2014 | 4,343,342 | $ | 29.79 | 5.4 | $ | 1,175,785 | |||||||
Exercisable at October 31, 2014 | 3,339,992 | $ | 30.94 | 4.2 | $ | 584,528 | |||||||
There were 3,339,992 and 3,466,777 options exercisable with a weighted average exercise price of $30.94 and $30.93 at October 31, 2014 and 2013, respectively. The cash received from the exercise of options during the three months ended October 31, 2014 and 2013 was $91 and $5,209, respectively. The tax benefit on options exercised during the three months ended October 31, 2014 and 2013 was $3 and $472, respectively. | |||||||||||||
The total intrinsic value of options exercised during the three months ended October 31, 2014 and 2013, based upon the average market price at the time of exercise during the period, was $7 and $1,211, respectively. The total fair value of stock options vested during the three months ended October 31, 2014 and 2013, was $3,684 and $8,383, respectively. | |||||||||||||
The Company granted 224,398 service-based RSUs during the three months ended October 31, 2014, with a weighted average grant price and fair value of $23.45. | |||||||||||||
The following table summarizes the RSU and restricted share activity under the Company's share-based compensation plans for the three months ended October 31, 2014: | |||||||||||||
Service-Based RSUs and Restricted Shares | Shares | Weighted | |||||||||||
Average | |||||||||||||
Grant Date Fair Value | |||||||||||||
Outstanding at July 31, 2014 | 104,857 | $ | 31.02 | ||||||||||
New grants | 224,398 | 23.45 | |||||||||||
Vested | (32,458 | ) | 30.86 | ||||||||||
Forfeited | (19,477 | ) | 31.28 | ||||||||||
Outstanding at October 31, 2014 | 277,320 | $ | 24.9 | ||||||||||
Performance-Based RSUs and Restricted Shares | Shares | Weighted | |||||||||||
Average | |||||||||||||
Grant Date Fair Value | |||||||||||||
Outstanding at July 31, 2014 | 80,000 | $ | 32.5 | ||||||||||
New grants | — | — | |||||||||||
Vested | — | — | |||||||||||
Forfeited | (80,000 | ) | 32.5 | ||||||||||
Outstanding at October 31, 2014 | — | $ | — | ||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||
Oct. 31, 2014 | ||||||||||||||
Text Block [Abstract] | ' | |||||||||||||
Fair Value Measurements | ' | |||||||||||||
Fair Value Measurements | ||||||||||||||
In accordance with fair value accounting guidance, the Company’s assets and liabilities measured at fair market value are classified in one of the following categories: | ||||||||||||||
Level 1 — Assets or liabilities for which fair value is based on (unadjusted) quoted prices in active markets for identical instruments that are accessible as of the reporting date. | ||||||||||||||
Level 2 — Assets or liabilities for which fair value is based on other significant pricing inputs that are either directly or indirectly observable. | ||||||||||||||
Level 3 — Assets or liabilities for which fair value is based on significant unobservable pricing inputs to the extent little or no market data is available, which result in the use of management's own assumptions. | ||||||||||||||
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at October 31, 2014 and July 31, 2014, according to the valuation techniques the Company used to determine their fair values. | ||||||||||||||
Inputs | ||||||||||||||
Considered As | ||||||||||||||
Quoted Prices in Active Markets for Identical | Significant Other Observable Inputs (Level 2) | Fair Values | Balance Sheet Classifications | |||||||||||
Assets (Level 1) | ||||||||||||||
31-Oct-14 | ||||||||||||||
Trading securities | $ | 15,471 | $ | — | $ | 15,471 | Other assets | |||||||
Foreign exchange contracts | — | 669 | 669 | Prepaid expenses and other current assets | ||||||||||
Total Assets | $ | 15,471 | $ | 669 | $ | 16,140 | ||||||||
Foreign exchange contracts | $ | — | $ | 333 | $ | 333 | Other current liabilities | |||||||
Total Liabilities | $ | — | $ | 333 | $ | 333 | ||||||||
31-Jul-14 | ||||||||||||||
Trading securities | $ | 15,962 | $ | — | $ | 15,962 | Other assets | |||||||
Foreign exchange contracts | — | 166 | 166 | Prepaid expenses and other current assets | ||||||||||
Total Assets | $ | 15,962 | $ | 166 | $ | 16,128 | ||||||||
Foreign exchange contracts | $ | — | $ | 389 | $ | 389 | Other current liabilities | |||||||
Total Liabilities | $ | — | $ | 389 | $ | 389 | ||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instrument: | ||||||||||||||
Trading securities: The Company’s deferred compensation investments consist of investments in mutual funds. These investments were classified as Level 1 as the shares of these investments trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. | ||||||||||||||
Foreign exchange contracts: The Company’s foreign exchange contracts were classified as Level 2 as the fair value was based on the present value of the future cash flows using external models that use observable inputs, such as interest rates, yield curves and foreign exchange rates. See Note I, “Derivatives and Hedging Activities,” for additional information. | ||||||||||||||
There have been no transfers of assets or liabilities between the fair value hierarchy levels outlined above during the three months ended October 31, 2014 and 2013. In addition, the Company had no significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition during the three months ended October 31, 2014. | ||||||||||||||
During fiscal 2014, goodwill with a carrying amount of $193,689 in the PeopleID reporting unit was written down to its estimated implied fair value of $93,277, resulting in a non-cash impairment charge of $100,412. In order to arrive at the implied fair value of goodwill, the Company calculated the fair value of all of the assets and liabilities of the reporting unit as if it had been acquired in a business combination. After assigning fair value to the assets and liabilities of the reporting unit, the result was the implied fair value of goodwill of $93,277, which represented a Level 3 asset measured at fair value on a nonrecurring basis subsequent to its original recognition. | ||||||||||||||
The PeopleID reporting unit had intangible assets consisting of tradenames and customer relationships, which were valued using the income approach as part of the goodwill impairment valuation described above. The valuation was based upon current sales projections and profitability for each asset group, and the relief from royalty method was applied. As a result of the analysis, a definite-lived customer relationship with a carrying amount of $88,803 was written down to its estimated fair value of $44,600. In addition, indefinite-lived tradenames and other definite-lived customer relationships with a carrying amount of $5,384 were written down to their estimated fair value of $1,448. These represented Level 3 assets measured at fair value on a nonrecurring basis subsequent to their original recognition, which resulted in a total non-cash impairment charge of $48,139 within the IDS segment. | ||||||||||||||
The Company’s financial instruments, other than those presented in the disclosures above, include cash and cash equivalents, accounts receivable, notes payable, accounts payable, accrued liabilities and short-term and long-term debt. The fair values of cash and cash equivalents, accounts receivable, notes payable, accounts payable, and accrued liabilities approximated carrying values because of the short-term nature of these instruments. | ||||||||||||||
The estimated fair value of the Company’s short-term and long-term debt obligations, excluding notes payable, based on the quoted market prices for similar issues and on the current rates offered for debt of similar maturities was $210,152 and $216,280 at October 31, 2014 and July 31, 2014, respectively, as compared to the carrying value of $195,990 and $201,810 at October 31, 2014 and July 31, 2014, respectively. |
Restructuring
Restructuring | 3 Months Ended | |||||||||||||||
Oct. 31, 2014 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Restructuring | ' | |||||||||||||||
Restructuring | ||||||||||||||||
In fiscal 2014, the Company announced a restructuring plan to consolidate facilities in the Americas, Europe and Asia to enhance customer service, improve efficiency of operations and reduce operating expenses. Facility consolidation activities extended into fiscal 2015. | ||||||||||||||||
In connection with this plan, the Company incurred restructuring charges of $4,278 during the three months ended October 31, 2014, which consisted of $2,588 of employee separation costs, $200 of fixed asset write-offs, $948 of facility closure related costs, and $542 of contract termination costs. Of the $4,278 of restructuring charges recorded during the quarter, $2,386 was incurred within IDS and $1,892 within WPS. | ||||||||||||||||
The Company incurred restructuring charges of $6,840 during the three months ended October 31, 2013. These restructuring charges consisted of $6,492 of employee separation costs, which included $883 of separation costs related to the former CEO, and $348 of other facility closure related costs. Of the $6,840 of restructuring charges recorded during the quarter, $3,977 was incurred within IDS and $2,863 within WPS. | ||||||||||||||||
The charges for employee separation costs consisted of severance pay, outplacement services, medical and other benefits. The costs related to these restructuring activities were recorded on the condensed consolidated statements of earnings as restructuring charges. The Company expects the majority of the remaining cash payments to be made during the next twelve months. | ||||||||||||||||
A reconciliation of the Company’s restructuring liability is as follows: | ||||||||||||||||
Employee | Asset Write-offs | Other | Total | |||||||||||||
Related | ||||||||||||||||
Beginning balance, July 31, 2014 | $ | 3,389 | $ | — | $ | 1,606 | $ | 4,995 | ||||||||
Restructuring charges in continuing operations | 2,588 | 200 | 1,490 | 4,278 | ||||||||||||
Restructuring charges in discontinued operations | — | (4 | ) | 245 | 241 | |||||||||||
Non-cash write-offs | — | (196 | ) | — | (196 | ) | ||||||||||
Cash payments | (2,141 | ) | — | (1,252 | ) | (3,393 | ) | |||||||||
Ending balance, October 31, 2014 | $ | 3,836 | $ | — | $ | 2,089 | $ | 5,925 | ||||||||
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities | 3 Months Ended | |||||||||||||||||||||||
Oct. 31, 2014 | ||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||
Derivatives and Hedging Activities | ' | |||||||||||||||||||||||
Derivatives and Hedging Activities | ||||||||||||||||||||||||
The Company utilizes forward foreign exchange currency contracts to reduce the exchange rate risk of specific foreign currency denominated transactions. These contracts typically require the exchange of a foreign currency for U.S. dollars at a fixed rate at a future date, with maturities of less than 18 months, which qualify as cash flow hedges or net investment hedges under the accounting guidance for derivative instruments and hedging activities. The primary objective of the Company’s foreign currency exchange risk management program is to minimize the impact of currency movements due to transactions in other than the respective subsidiaries’ functional currency and to minimize the impact of currency movements on the Company’s net investment denominated in a currency other than the U.S. Dollar. To achieve this objective, the Company hedges a portion of known exposures using forward foreign exchange currency contracts. As of October 31, 2014 and July 31, 2014, the notional amount of outstanding forward exchange contracts was $67,000 and $104,000, respectively. | ||||||||||||||||||||||||
The Company hedges a portion of known exposure using forward exchange contracts. Main exposures are related to transactions denominated in the British Pound, the Euro, Canadian Dollar, Australian Dollar, Malaysian Ringgit and Singapore Dollar. Generally, these risk management transactions will involve the use of foreign currency derivatives to minimize the impact of currency movements on non-functional currency transactions. | ||||||||||||||||||||||||
Hedge effectiveness is determined by how closely the changes in fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged item. Hedge accounting is permitted only if the hedging relationship is expected to be highly effective at the inception of the hedge and on an on-going basis. Gains or losses on the derivative related to hedge ineffectiveness are recognized in current earnings. | ||||||||||||||||||||||||
Cash Flow Hedges | ||||||||||||||||||||||||
The Company has designated a portion of its foreign exchange contracts as cash flow hedges and recorded these contracts at fair value on the condensed consolidated balance sheets. For these instruments, the effective portion of the gain or loss on the derivative is reported as a component of OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of October 31, 2014 and 2013, unrealized gains of $601 and unrealized losses of $15 have been included in OCI, respectively. Balances are reclassified from OCI to earnings during the next twelve months when the hedged transactions impact earnings. For the three months ended October 31, 2014 and 2013, the Company reclassified losses of $21 and gains of $90 from OCI into earnings, respectively. At October 31, 2014, the U.S. dollar equivalent of these outstanding forward foreign exchange contracts totaled $16,643, including contracts to sell Euros, Canadian Dollars, Australian Dollars, British Pounds and U.S. Dollars. | ||||||||||||||||||||||||
Net Investment Hedges | ||||||||||||||||||||||||
The Company has also designated intercompany and third party foreign currency denominated debt instruments as net investment hedges. At October 31, 2014, the Company designated £25,036 of intercompany loans as net investment hedges to hedge portions of its net investment in British foreign operations. On May 13, 2010, the Company completed the private placement of €75 million aggregate principal amount of senior unsecured notes to accredited institutional investors. This Euro-denominated debt obligation was designated as a net investment hedge to selectively hedge portions of its net investment in European operations. The Company’s foreign denominated debt obligations are valued under a market approach using publicized spot prices. | ||||||||||||||||||||||||
Additionally, the Company utilizes forward foreign exchange currency contracts designated as hedge instruments to hedge portions of the Company’s net investments in foreign operations. The net gains or losses attributable to changes in spot exchange rates are recorded in OCI. Recognition in earnings of amounts previously recorded in cumulative translation is limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. At October 31, 2014 and July 31, 2014, the U.S dollar equivalent of these outstanding forward foreign exchange contracts totaled $4,700 and $5,300, respectively. As of October 31, 2014 and 2013, the Company recognized OCI losses of $295 and $244, respectively, on its outstanding net investment hedges. | ||||||||||||||||||||||||
Non-Designated Hedges | ||||||||||||||||||||||||
For the three months ended October 31, 2014 and 2013, the Company recognized losses of $841 and gains of $1,447 respectively, in “Investment and other income” on the condensed consolidated statements of earnings related to non-designated hedges. | ||||||||||||||||||||||||
Fair values of derivative instruments in the condensed consolidated balance sheets were as follows: | ||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||||||||
31-Oct-14 | 31-Jul-14 | 31-Oct-14 | 31-Jul-14 | |||||||||||||||||||||
Balance | Fair | Balance | Fair | Balance | Fair | Balance | Fair | |||||||||||||||||
Sheet | Value | Sheet | Value | Sheet | Value | Sheet | Value | |||||||||||||||||
Location | Location | Location | Location | |||||||||||||||||||||
Derivatives designated as hedging instruments | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign exchange contracts | Prepaid expenses and other current assets | $ | 544 | Prepaid expenses and other current assets | $ | — | Other current liabilities | $ | — | Other current liabilities | $ | — | ||||||||||||
Net investment hedges | ||||||||||||||||||||||||
Foreign exchange contracts | Prepaid expenses and other current assets | 24 | Prepaid expenses and other current assets | — | Other current liabilities | — | Other current liabilities | 14 | ||||||||||||||||
Foreign currency denominated debt | Prepaid expenses and other current assets | — | Prepaid expenses and other current assets | — | Long term obligations, less current maturities | 94,590 | Long term obligations, less current maturities | 100,410 | ||||||||||||||||
Total derivatives designated as hedging instruments | $ | 568 | $ | — | $ | 94,590 | $ | 100,424 | ||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign exchange contracts | Prepaid expenses and other current assets | $ | 100 | Prepaid expenses and other current assets | $ | 166 | Other current liabilities | $ | 333 | Other current liabilities | $ | 375 | ||||||||||||
Total derivatives not designated as hedging instruments | $ | 100 | $ | 166 | $ | 333 | $ | 375 | ||||||||||||||||
Discontinued_Operations_Notes
Discontinued Operations (Notes) | 3 Months Ended | |||||||
Oct. 31, 2014 | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | |||||||
Discontinued Operations | ||||||||
The Company entered into an agreement with LTI Flexible Products, Inc. (d/b/a Boyd Corporation) on February 24, 2014, for the sale of the Die-Cut business. The first phase of this divestiture closed on May 1, 2014 and included the Die-Cut businesses in Korea, Thailand and Malaysia, and the Balkhausen business in Europe. The remainder of the Die-Cut business was located in China and it was divested on August 1, 2014. The operating results have been reported as discontinued operations for the three month comparative periods ended October 31, 2014 and 2013. | ||||||||
The following table summarizes the operating results of discontinued operations for the three months ended October 31, 2014 and 2013: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Net sales | $ | — | $ | 65,857 | ||||
(Loss) earnings from operations of discontinued businesses | (1,201 | ) | 8,329 | |||||
Income tax expense | (288 | ) | (2,535 | ) | ||||
Loss on sale of discontinued operations | (487 | ) | — | |||||
Income tax benefit on sale of discontinued operations | 61 | — | ||||||
(Loss) earnings from discontinued operations, net of income tax | $ | (1,915 | ) | $ | 5,794 | |||
There were no assets or liabilities held for sale as of October 31, 2014. In accordance with authoritative literature, accumulated other comprehensive income of $34,697 was reclassified to the statement of earnings upon the closing of the second phase of the Die-Cut divestiture during the three months ended October 31, 2014. |
Notes_Payable
Notes Payable | 3 Months Ended | ||||||
Oct. 31, 2014 | |||||||
Notes Payable [Abstract] | ' | ||||||
Notes Payable | ' | ||||||
Notes Payable | |||||||
At July 31, 2014, the Company had an outstanding balance of $42,000 on its revolving loan agreement. During the three months ended October 31, 2014, the Company drew an additional $41,000 in order to fund general corporate needs. As of October 31, 2014, the outstanding balance on the credit facility was $83,000, which was also the maximum amount outstanding during the three months ended October 31, 2014. The Company also had letters of credit outstanding under the loan agreement of $3,500 as of October 31, 2014 and there was $213,500 available for future borrowing, which can be increased to $363,500 at the Company's option, subject to certain conditions. The Company intends to repay the remainder of the borrowing within 12 months of the quarter ended October 31, 2014. As such, the borrowing is classified as "Notes payable" within current liabilities on the condensed consolidated balance sheets. | |||||||
In February 2013, the Company entered into an unsecured $26,200 multi-currency line of credit in China, which was amended in November 2013 to $24,200 and is due on demand. The line of credit supports USD-denominated or CNY-denominated borrowing to fund working capital and operations for the Company's Chinese entities. The Company is not required to comply with any financial covenants as part of this agreement. During the three months ended October 31, 2014, the Company repaid $7,714 of this borrowing and the maximum amount outstanding was $19,422. As of October 31, 2014, the outstanding balance was $11,708 USD equivalent of CNY-denominated borrowings and there was $12,492 available for future borrowing under this credit facility. | |||||||
As of October 31, 2014, borrowings on the revolving loan agreement and China credit facility were as follows: | |||||||
31-Oct-14 | Interest Rate | ||||||
USD-denominated borrowing on revolving loan agreement | $ | 83,000 | 1.2438 | % | |||
CNY-denominated borrowing on China line of credit (USD equivalent) | $ | 11,708 | 5.04 | % | |||
Notes payable | $ | 94,708 | 1.713 | % | |||
As of July 31, 2014, borrowings on the revolving loan agreement and China line of credit were as follows: | |||||||
31-Jul-14 | Interest Rate | ||||||
USD-denominated borrowing on revolving loan agreement | $ | 42,000 | 1.2472 | % | |||
USD-denominated borrowing on China line of credit | 6,923 | 1.3548 | % | ||||
CNY-denominated borrowing on China line of credit (USD equivalent) | 12,499 | 5.04 | % | ||||
Notes payable | $ | 61,422 | 2.0311 | % | |||
Subsequent_Events
Subsequent Events | 3 Months Ended |
Oct. 31, 2014 | |
Text Block [Abstract] | ' |
Subsequent Events | ' |
NOTE N — Subsequent Events | |
On November 19, 2014, the Board of Directors declared a quarterly cash dividend to shareholders of the Company’s Class A and Class B Common Stock of $0.20 per share payable on January 30, 2015, to shareholders of record at the close of business on January 9, 2015. |
New_Accounting_Pronouncements_
New Accounting Pronouncements (Notes) | 3 Months Ended |
Oct. 31, 2014 | |
Entity Information [Line Items] | ' |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
New Accounting Pronouncements | |
In August 2014, the Financial Accounting Standards Board ("FASB") issued new guidance on the required disclosures related to an entity’s ability to continue as a going concern. The guidance requires management to evaluate, at each interim and annual reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued, and provide related disclosures. This guidance is effective for annual periods ending after December 15, 2016, and for each annual and interim period thereafter with early adoption permitted. The Company does not believe the adoption of this guidance will have a material impact on the condensed consolidated financial statements.In June 2014, the FASB issued new guidance on certain share-based payment awards, which clarifies the treatment of performance targets that can be met after the requisite service period of a share-based payment award. Under the new guidance, an entity should treat the performance targets that can be met after the requisite period of service as performance conditions that affect vesting. This guidance is effective for interim and annual periods beginning after December 15, 2015 with early adoption permitted. The Company plans to adopt this new guidance effective January 1, 2016. The Company does not believe the adoption of this guidance will have a material impact on the condensed consolidated financial statements. | |
In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers ", which eliminates the transaction-and industry-specific revenue recognition guidance under current GAAP and replaces it with a principle-based approach for determining revenue recognition. The accounting standard update requires revenue recognition when control of the goods or services transfers to the customer, replacing the existing guidance which requires revenue recognition when the risks and rewards transfer to the customer. Under the new guidance, companies should recognize revenues in amounts that reflect the payment to which a company expects to be entitled in exchange for those goods or services. The guidance is effective for fiscal and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact of this update on its consolidated financial statements. | |
In April 2014, the FASB issued ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity", which includes amendments that change the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results. Additionally, ASU 2014-08 requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, expenses and cash flows of discontinued operations. The guidance is effective for fiscal and interim periods beginning after December 15, 2014. The adoption of this update is not expected to have a material impact on the financial statements of the Company. |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Oct. 31, 2014 | ||||||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||||||
Changes in Carrying Amount of Goodwill | ' | |||||||||||||||||||||||||||
Changes in the carrying amount of goodwill for the three months ended October 31, 2014, were as follows: | ||||||||||||||||||||||||||||
IDS | WPS | Total | ||||||||||||||||||||||||||
Balance as of July 31, 2014 | $ | 412,289 | $ | 102,715 | $ | 515,004 | ||||||||||||||||||||||
Translation adjustments | (8,205 | ) | (5,005 | ) | $ | (13,210 | ) | |||||||||||||||||||||
Balance as of October 31, 2014 | $ | 404,084 | $ | 97,710 | $ | 501,794 | ||||||||||||||||||||||
Other Intangible Assets | ' | |||||||||||||||||||||||||||
The net book value of these assets was as follows: | ||||||||||||||||||||||||||||
31-Oct-14 | 31-Jul-14 | |||||||||||||||||||||||||||
Weighted | Gross | Accumulated | Net Book | Weighted | Gross | Accumulated | Net Book | |||||||||||||||||||||
Average | Carrying | Amortization | Value | Average | Carrying | Amortization | Value | |||||||||||||||||||||
Amortization | Amount | Amortization | Amount | |||||||||||||||||||||||||
Period | Period | |||||||||||||||||||||||||||
(Years) | (Years) | |||||||||||||||||||||||||||
Amortized other intangible assets: | ||||||||||||||||||||||||||||
Patents | 5 | $ | 11,708 | $ | (10,257 | ) | $ | 1,451 | 5 | $ | 11,656 | $ | (10,160 | ) | $ | 1,496 | ||||||||||||
Trademarks and other | 5 | 15,002 | (11,071 | ) | 3,931 | 5 | 15,366 | (10,706 | ) | 4,660 | ||||||||||||||||||
Customer relationships | 7 | 143,903 | (92,472 | ) | 51,431 | 7 | 168,525 | (114,363 | ) | 54,162 | ||||||||||||||||||
Non-compete agreements and other | 4 | 9,841 | (9,697 | ) | 144 | 4 | 10,089 | (9,622 | ) | 467 | ||||||||||||||||||
Unamortized other intangible assets: | ||||||||||||||||||||||||||||
Trademarks | N/A | 29,694 | — | 29,694 | N/A | 30,229 | — | 30,229 | ||||||||||||||||||||
Total | $ | 210,148 | $ | (123,497 | ) | $ | 86,651 | $ | 235,865 | $ | (144,851 | ) | $ | 91,014 | ||||||||||||||
Other_Comprehensive_Income_Oth1
Other Comprehensive Income Other Comprehensive Income, Tax (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||
Oct. 31, 2014 | Oct. 31, 2013 | |||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||
The following table illustrates the changes in the balances of each component of accumulated other comprehensive income, net of tax, for the three months ended October 31, 2014: | The changes in accumulated other comprehensive income by component, net of tax, for the three months ended October 31, 2013 were as follows: | |||||||||||||||||||||||||||||||
Unrealized gain on cash flow hedges | Unamortized gain on post-retirement plans | Foreign currency translation adjustments | Accumulated other comprehensive income | Unrealized gain on cash flow hedges | Unamortized gain on post-retirement plans | Foreign currency translation adjustments | Accumulated other comprehensive income | |||||||||||||||||||||||||
Beginning balance, July 31, 2014 | $ | (12 | ) | $ | 4,854 | $ | 59,314 | $ | 64,156 | Beginning balance, July 31, 2013 | $ | 99 | $ | 1,853 | $ | 54,111 | $ | 56,063 | ||||||||||||||
Other comprehensive income (loss) before reclassification | 418 | — | (21,030 | ) | (20,612 | ) | Other comprehensive income (loss) before reclassification | (32 | ) | — | 14,273 | 14,241 | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | 13 | (295 | ) | (34,697 | ) | (34,979 | ) | Amounts reclassified from accumulated other comprehensive income | (55 | ) | (117 | ) | — | (172 | ) | |||||||||||||||||
Ending balance, October 31, 2014 | $ | 419 | $ | 4,559 | $ | 3,587 | $ | 8,565 | Ending balance, October 31, 2013 | $ | 12 | $ | 1,736 | $ | 68,384 | $ | 70,132 | |||||||||||||||
Other Comprehensive Income , Tax [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||
The following table illustrates the income tax (expense) benefit on the components of other comprehensive income for the three months ended October 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||
Three months ended October 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Income tax (expense) benefit related to items of other comprehensive income: | ||||||||||||||||||||||||||||||||
Net investment hedge translation adjustments | $ | (3,179 | ) | $ | 1,314 | |||||||||||||||||||||||||||
Long-term intercompany loan settlements | — | 1,403 | ||||||||||||||||||||||||||||||
Cash flow hedges | (203 | ) | 18 | |||||||||||||||||||||||||||||
Other income tax adjustments and currency translation | 56 | (93 | ) | |||||||||||||||||||||||||||||
Income tax (expense) benefit related to items of other comprehensive income | $ | (3,326 | ) | $ | 2,642 | |||||||||||||||||||||||||||
Net_Income_per_Common_Share_Ta
Net Income per Common Share (Tables) | 3 Months Ended | |||||||
Oct. 31, 2014 | ||||||||
Text Block [Abstract] | ' | |||||||
Reconciliations of Numerator and Denominator of Basic and Diluted Per Share | ' | |||||||
Reconciliations of the numerator and denominator of the basic and diluted per share computations for the Company’s Class A and Class B common stock are summarized as follows: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Numerator: (in thousands) | ||||||||
Earnings from continuing operations | $ | 15,499 | $ | 18,134 | ||||
Less: | ||||||||
Restricted stock dividends | — | (45 | ) | |||||
Numerator for basic and diluted earnings from continuing operations per Class A Nonvoting Common Share | $ | 15,499 | $ | 18,089 | ||||
Less: | ||||||||
Preferential dividends | (794 | ) | (813 | ) | ||||
Preferential dividends on dilutive stock options | (1 | ) | (6 | ) | ||||
Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share | $ | 14,704 | $ | 17,270 | ||||
Denominator: (in thousands) | ||||||||
Denominator for basic earnings from continuing operations per share for both Class A and Class B | 51,251 | 52,071 | ||||||
Plus: Effect of dilutive stock options | 62 | 348 | ||||||
Denominator for diluted earnings from continuing operations per share for both Class A and Class B | 51,313 | 52,419 | ||||||
Earnings from continuing operations per Class A Nonvoting Common Share: | ||||||||
Basic | $ | 0.3 | $ | 0.35 | ||||
Diluted | $ | 0.3 | $ | 0.35 | ||||
Earnings from continuing operations per Class B Voting Common Share: | ||||||||
Basic | $ | 0.29 | $ | 0.33 | ||||
Diluted | $ | 0.29 | $ | 0.33 | ||||
(Loss) earnings from discontinued operations per Class A Nonvoting Common Share: | ||||||||
Basic | $ | (0.03 | ) | $ | 0.11 | |||
Diluted | $ | (0.04 | ) | $ | 0.11 | |||
(Loss) earnings from discontinued operations per Class B Voting Common Share: | ||||||||
Basic | $ | (0.04 | ) | $ | 0.11 | |||
Diluted | $ | (0.04 | ) | $ | 0.11 | |||
Net earnings per Class A Nonvoting Common Share: | ||||||||
Basic | $ | 0.27 | $ | 0.46 | ||||
Diluted | $ | 0.26 | $ | 0.46 | ||||
Net earnings per Class B Voting Common Share: | ||||||||
Basic | $ | 0.25 | $ | 0.44 | ||||
Diluted | $ | 0.25 | $ | 0.44 | ||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | |||||||
Oct. 31, 2014 | ||||||||
Text Block [Abstract] | ' | |||||||
Schedule of Segment Reporting Information by Segment | ' | |||||||
The segment results have been adjusted to reflect continuing operations in all periods presented. The following is a summary of segment information for the three months ended October 31, 2014 and 2013: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Sales to External Customers | ||||||||
ID Solutions | $ | 212,097 | $ | 209,546 | ||||
Workplace Safety | 98,143 | 97,984 | ||||||
Total Company | $ | 310,240 | $ | 307,530 | ||||
Segment Profit | ||||||||
ID Solutions | $ | 43,467 | $ | 50,967 | ||||
Workplace Safety | 15,539 | 18,374 | ||||||
Total Company | $ | 59,006 | $ | 69,341 | ||||
Net Income Reconciliation | ' | |||||||
The following is a reconciliation of segment profit to earnings from continuing operations before income taxes for the three months ended October 31, 2014 and 2013: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Total profit from reportable segments | $ | 59,006 | $ | 69,341 | ||||
Unallocated amounts: | ||||||||
Administrative costs | (27,755 | ) | (32,814 | ) | ||||
Restructuring charges | (4,278 | ) | (6,840 | ) | ||||
Investment and other income | 323 | 762 | ||||||
Interest expense | (2,891 | ) | (3,720 | ) | ||||
Earnings from continuing operations before income taxes | $ | 24,405 | $ | 26,729 | ||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | ||||||||||||
Oct. 31, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Stock Option Assumptions | ' | ||||||||||||
The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table: | |||||||||||||
Three months ended October 31, | |||||||||||||
Black-Scholes Option Valuation Assumptions | 2014 | 2013 | |||||||||||
Expected term (in years) | 6.05 | 5.92 | |||||||||||
Expected volatility | 30.27 | % | 37.41 | % | |||||||||
Expected dividend yield | 2.48 | % | 2.36 | % | |||||||||
Risk-free interest rate | 1.91 | % | 1.78 | % | |||||||||
Weighted-average market value of underlying stock at grant date | $ | 22.66 | $ | 31.07 | |||||||||
Weighted-average exercise price | $ | 22.66 | $ | 31.07 | |||||||||
Weighted-average fair value of options granted during the period | $ | 6.1 | $ | 9.18 | |||||||||
Summary of Stock Option Activity under Company's Share-Based Compensation Plans | ' | ||||||||||||
A summary of stock option activity under the Company’s share-based compensation plans for the three months ended October 31, 2014 is presented below: | |||||||||||||
Options | Shares | Weighted | Weighted | Aggregate | |||||||||
Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Term | |||||||||||||
Outstanding at July 31, 2014 | 4,204,260 | $ | 30.82 | ||||||||||
New grants | 612,427 | 22.66 | |||||||||||
Exercised | -3,500 | 20.95 | |||||||||||
Forfeited or expired | -469,845 | 29.81 | |||||||||||
Outstanding at October 31, 2014 | 4,343,342 | $ | 29.79 | 5.4 | $ | 1,175,785 | |||||||
Exercisable at October 31, 2014 | 3,339,992 | $ | 30.94 | 4.2 | $ | 584,528 | |||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
The following table summarizes the RSU and restricted share activity under the Company's share-based compensation plans for the three months ended October 31, 2014: | |||||||||||||
Service-Based RSUs and Restricted Shares | Shares | Weighted | |||||||||||
Average | |||||||||||||
Grant Date Fair Value | |||||||||||||
Outstanding at July 31, 2014 | 104,857 | $ | 31.02 | ||||||||||
New grants | 224,398 | 23.45 | |||||||||||
Vested | (32,458 | ) | 30.86 | ||||||||||
Forfeited | (19,477 | ) | 31.28 | ||||||||||
Outstanding at October 31, 2014 | 277,320 | $ | 24.9 | ||||||||||
Performance-Based RSUs and Restricted Shares | Shares | Weighted | |||||||||||
Average | |||||||||||||
Grant Date Fair Value | |||||||||||||
Outstanding at July 31, 2014 | 80,000 | $ | 32.5 | ||||||||||
New grants | — | — | |||||||||||
Vested | — | — | |||||||||||
Forfeited | (80,000 | ) | 32.5 | ||||||||||
Outstanding at October 31, 2014 | — | $ | — | ||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||
Oct. 31, 2014 | ||||||||||||||
Text Block [Abstract] | ' | |||||||||||||
Financial Assets and Liabilities Accounted for at Fair Value on a Recurring Basis | ' | |||||||||||||
Inputs | ||||||||||||||
Considered As | ||||||||||||||
Quoted Prices in Active Markets for Identical | Significant Other Observable Inputs (Level 2) | Fair Values | Balance Sheet Classifications | |||||||||||
Assets (Level 1) | ||||||||||||||
31-Oct-14 | ||||||||||||||
Trading securities | $ | 15,471 | $ | — | $ | 15,471 | Other assets | |||||||
Foreign exchange contracts | — | 669 | 669 | Prepaid expenses and other current assets | ||||||||||
Total Assets | $ | 15,471 | $ | 669 | $ | 16,140 | ||||||||
Foreign exchange contracts | $ | — | $ | 333 | $ | 333 | Other current liabilities | |||||||
Total Liabilities | $ | — | $ | 333 | $ | 333 | ||||||||
31-Jul-14 | ||||||||||||||
Trading securities | $ | 15,962 | $ | — | $ | 15,962 | Other assets | |||||||
Foreign exchange contracts | — | 166 | 166 | Prepaid expenses and other current assets | ||||||||||
Total Assets | $ | 15,962 | $ | 166 | $ | 16,128 | ||||||||
Foreign exchange contracts | $ | — | $ | 389 | $ | 389 | Other current liabilities | |||||||
Total Liabilities | $ | — | $ | 389 | $ | 389 | ||||||||
Restructuring_Tables
Restructuring (Tables) | 3 Months Ended | |||||||||||||||
Oct. 31, 2014 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Restructuring Reserve Roll Forward | ' | |||||||||||||||
A reconciliation of the Company’s restructuring liability is as follows: | ||||||||||||||||
Employee | Asset Write-offs | Other | Total | |||||||||||||
Related | ||||||||||||||||
Beginning balance, July 31, 2014 | $ | 3,389 | $ | — | $ | 1,606 | $ | 4,995 | ||||||||
Restructuring charges in continuing operations | 2,588 | 200 | 1,490 | 4,278 | ||||||||||||
Restructuring charges in discontinued operations | — | (4 | ) | 245 | 241 | |||||||||||
Non-cash write-offs | — | (196 | ) | — | (196 | ) | ||||||||||
Cash payments | (2,141 | ) | — | (1,252 | ) | (3,393 | ) | |||||||||
Ending balance, October 31, 2014 | $ | 3,836 | $ | — | $ | 2,089 | $ | 5,925 | ||||||||
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Oct. 31, 2014 | ||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||
Fair Values of Derivative Instruments in Consolidated Balance Sheets | ' | |||||||||||||||||||||||
Fair values of derivative instruments in the condensed consolidated balance sheets were as follows: | ||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||||||||
31-Oct-14 | 31-Jul-14 | 31-Oct-14 | 31-Jul-14 | |||||||||||||||||||||
Balance | Fair | Balance | Fair | Balance | Fair | Balance | Fair | |||||||||||||||||
Sheet | Value | Sheet | Value | Sheet | Value | Sheet | Value | |||||||||||||||||
Location | Location | Location | Location | |||||||||||||||||||||
Derivatives designated as hedging instruments | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign exchange contracts | Prepaid expenses and other current assets | $ | 544 | Prepaid expenses and other current assets | $ | — | Other current liabilities | $ | — | Other current liabilities | $ | — | ||||||||||||
Net investment hedges | ||||||||||||||||||||||||
Foreign exchange contracts | Prepaid expenses and other current assets | 24 | Prepaid expenses and other current assets | — | Other current liabilities | — | Other current liabilities | 14 | ||||||||||||||||
Foreign currency denominated debt | Prepaid expenses and other current assets | — | Prepaid expenses and other current assets | — | Long term obligations, less current maturities | 94,590 | Long term obligations, less current maturities | 100,410 | ||||||||||||||||
Total derivatives designated as hedging instruments | $ | 568 | $ | — | $ | 94,590 | $ | 100,424 | ||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign exchange contracts | Prepaid expenses and other current assets | $ | 100 | Prepaid expenses and other current assets | $ | 166 | Other current liabilities | $ | 333 | Other current liabilities | $ | 375 | ||||||||||||
Total derivatives not designated as hedging instruments | $ | 100 | $ | 166 | $ | 333 | $ | 375 | ||||||||||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 3 Months Ended | |||||||
Oct. 31, 2014 | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||
Die-Cut Asia [Member] | ' | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||
The following table summarizes the operating results of discontinued operations for the three months ended October 31, 2014 and 2013: | ||||||||
Three months ended October 31, | ||||||||
2014 | 2013 | |||||||
Net sales | $ | — | $ | 65,857 | ||||
(Loss) earnings from operations of discontinued businesses | (1,201 | ) | 8,329 | |||||
Income tax expense | (288 | ) | (2,535 | ) | ||||
Loss on sale of discontinued operations | (487 | ) | — | |||||
Income tax benefit on sale of discontinued operations | 61 | — | ||||||
(Loss) earnings from discontinued operations, net of income tax | $ | (1,915 | ) | $ | 5,794 | |||
Notes_Payable_Tables
Notes Payable (Tables) | 3 Months Ended | ||||||
Oct. 31, 2014 | |||||||
Notes Payable [Abstract] | ' | ||||||
Schedule of borrowings on revolving loan agreement | ' | ||||||
As of October 31, 2014, borrowings on the revolving loan agreement and China credit facility were as follows: | |||||||
31-Oct-14 | Interest Rate | ||||||
USD-denominated borrowing on revolving loan agreement | $ | 83,000 | 1.2438 | % | |||
CNY-denominated borrowing on China line of credit (USD equivalent) | $ | 11,708 | 5.04 | % | |||
Notes payable | $ | 94,708 | 1.713 | % | |||
As of July 31, 2014, borrowings on the revolving loan agreement and China line of credit were as follows: | |||||||
31-Jul-14 | Interest Rate | ||||||
USD-denominated borrowing on revolving loan agreement | $ | 42,000 | 1.2472 | % | |||
USD-denominated borrowing on China line of credit | 6,923 | 1.3548 | % | ||||
CNY-denominated borrowing on China line of credit (USD equivalent) | 12,499 | 5.04 | % | ||||
Notes payable | $ | 61,422 | 2.0311 | % | |||
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Oct. 31, 2014 |
Goodwill | ' |
Balance as of July 31, 2014 | $515,004 |
Goodwill, Translation Adjustments | -13,210 |
Balance as of October 31, 2014 | 501,794 |
Id Solutions [Member] | ' |
Goodwill | ' |
Balance as of July 31, 2014 | 412,289 |
Goodwill, Translation Adjustments | -8,205 |
Balance as of October 31, 2014 | 404,084 |
Workplace Safety [Member] | ' |
Goodwill | ' |
Balance as of July 31, 2014 | 102,715 |
Goodwill, Translation Adjustments | -5,005 |
Balance as of October 31, 2014 | $97,710 |
Goodwill_Impairment_Detail
Goodwill Impairment (Detail) (USD $) | Oct. 31, 2014 |
In Thousands, unless otherwise specified | |
Goodwill Impairment | ' |
Goodwill, Impaired, Accumulated Impairment Loss | $290,917 |
Id Solutions [Member] | ' |
Goodwill Impairment | ' |
Goodwill, Impaired, Accumulated Impairment Loss | 118,637 |
Workplace Safety [Member] | ' |
Goodwill Impairment | ' |
Goodwill, Impaired, Accumulated Impairment Loss | $172,280 |
Intangibles_detail
Intangibles (detail) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 |
Patents [Member] | Patents [Member] | Trademarks and other [Member] | Trademarks and other [Member] | Customer relationships [Member] | Customer relationships [Member] | Non-compete agreements and other [Member] | Non-compete agreements and other [Member] | Trademarks [Member] | Trademarks [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Amortization Period | ' | ' | ' | '5 years | '5 years | '5 years | '5 years | '7 years | '7 years | '4 years | '4 years | ' | ' |
Gross Carrying Amount | $210,148 | ' | $235,865 | $11,708 | $11,656 | $15,002 | $15,366 | $143,903 | $168,525 | $9,841 | $10,089 | $29,694 | $30,229 |
Accumulated Amortization | -123,497 | ' | -144,851 | -10,257 | -10,160 | -11,071 | -10,706 | -92,472 | -114,363 | -9,697 | -9,622 | 0 | 0 |
Net Book Value | 86,651 | ' | 91,014 | 1,451 | 1,496 | 3,931 | 4,660 | 51,431 | 54,162 | 144 | 467 | 29,694 | 30,229 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | 3,369 | 5,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 12,212 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 10,051 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 7,616 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 6,771 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $6,451 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other_Comprehensive_Income_Oth2
Other Comprehensive Income Other Comprehensive Income, Text (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Accumulated Other Comprehensive Loss [rollforward] | ' | ' |
Beginning balance, July 31, 2014 | $64,156 | $56,063 |
Other Comprehensive Income (Loss), before Reclassification | -20,612 | 14,241 |
Amounts reclassified from accumulated other comprehensive income | -34,979 | -172 |
Ending balance, October 31, 2014 | 8,565 | 70,132 |
Other Comprehensive Income (Loss), Tax [Abstract] | ' | ' |
Net investment hedge translation adjustments | -3,179 | 1,314 |
Long-term intercompany loan settlements | 0 | 1,403 |
Cash flow hedges | -203 | 18 |
Other income tax adjustments and currency translation | 56 | -93 |
Income tax (expense) benefit related to items of other comprehensive income | -3,326 | 2,642 |
Cash flow hedging | ' | ' |
Accumulated Other Comprehensive Loss [rollforward] | ' | ' |
Beginning balance, July 31, 2014 | -12 | 99 |
Other Comprehensive Income (Loss), before Reclassification | 418 | -32 |
Amounts reclassified from accumulated other comprehensive income | 13 | -55 |
Ending balance, October 31, 2014 | 419 | 12 |
Unamortized gain on post-retirement plans | ' | ' |
Accumulated Other Comprehensive Loss [rollforward] | ' | ' |
Beginning balance, July 31, 2014 | 4,854 | 1,853 |
Other Comprehensive Income (Loss), before Reclassification | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income | -295 | -117 |
Ending balance, October 31, 2014 | 4,559 | 1,736 |
Foreign currency translation adjustments | ' | ' |
Accumulated Other Comprehensive Loss [rollforward] | ' | ' |
Beginning balance, July 31, 2014 | 59,314 | 54,111 |
Other Comprehensive Income (Loss), before Reclassification | -21,030 | 14,273 |
Amounts reclassified from accumulated other comprehensive income | -34,697 | 0 |
Ending balance, October 31, 2014 | $3,587 | $68,384 |
Net_Income_per_Common_Share_Re
Net Income per Common Share - Reconciliation of Numerator and Denominator of Basic and Diluted Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Earnings Per Share [Line Items] | ' | ' |
Earnings from continuing operations | $15,499 | $18,134 |
Denominator for basic earnings (loss) from continuing operations per share for both Class A and Class B | 51,251 | 52,071 |
Plus: Effect of dilutive stock options | 62 | 348 |
Denominator for diluted net income per share for both Class A and Class B | 51,313 | 52,419 |
Class A nonvoting common stock | ' | ' |
Earnings Per Share [Line Items] | ' | ' |
Earnings from continuing operations | 15,499 | 18,089 |
Earnings from continuing operations per basic share | $0.30 | $0.35 |
Earnings from continuing operations per diluted share | $0.30 | $0.35 |
(Loss) earnings from discontinued operations per basic share | ($0.03) | $0.11 |
(Loss) earnings from discontinued operations per diluted share | ($0.04) | $0.11 |
Net earnings per share, basic | $0.27 | $0.46 |
Net earnings per share, diluted | $0.26 | $0.46 |
Class B voting common stock | ' | ' |
Earnings Per Share [Line Items] | ' | ' |
Earnings from continuing operations | 14,704 | 17,270 |
Earnings from continuing operations per basic share | $0.29 | $0.33 |
Earnings from continuing operations per diluted share | $0.29 | $0.33 |
(Loss) earnings from discontinued operations per basic share | ($0.04) | $0.11 |
(Loss) earnings from discontinued operations per diluted share | ($0.04) | $0.11 |
Net earnings per share, basic | $0.25 | $0.44 |
Net earnings per share, diluted | $0.25 | $0.44 |
Restricted Stock Dividends [Member] | ' | ' |
Earnings Per Share [Line Items] | ' | ' |
Payments of Ordinary Dividends, Common Stock | 0 | 45 |
Preferential Dividends on Class A Nonvoting Common Stock [Member] | ' | ' |
Earnings Per Share [Line Items] | ' | ' |
Payments of Ordinary Dividends, Common Stock | 794 | 813 |
Preferential Dividends on Dilutive Shares [Member] | ' | ' |
Earnings Per Share [Line Items] | ' | ' |
Payments of Ordinary Dividends, Common Stock | $1 | $6 |
Net_Income_per_Common_Share_Ad
Net Income per Common Share - Additional Informations (Detail) | 3 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2013 | |
Earnings Per Share [Line Items] | ' | ' |
Common stock of Class A shares excluded from computations of diluted net income per share | 3,897,000 | 2,505,000 |
Segment_Information_Schedule_o
Segment Information - Schedule of Segment Reporting Information By Segment (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' |
Sales to External Customers | $310,240 | $307,530 |
Operating Income (Loss) | 26,973 | 29,687 |
Segment Profit | 59,006 | 69,341 |
Id Solutions [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Sales to External Customers | 212,097 | 209,546 |
Segment Profit | 43,467 | 50,967 |
Workplace Safety [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Sales to External Customers | 98,143 | 97,984 |
Segment Profit | $15,539 | $18,374 |
Segment_Information_Net_Income
Segment Information - Net Income Reconciliation (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Disclosure Segment Information Net Income Reconciliation [Abstract] | ' | ' |
Total profit from reportable segments | $59,006 | $69,341 |
Unallocated amounts: | ' | ' |
Administrative costs | -27,755 | -32,814 |
Restructuring charges | -4,278 | -6,840 |
Investment and other income | 323 | 762 |
Interest expense | -2,891 | -3,720 |
Earnings from continuing operations before income taxes | 24,405 | 26,729 |
Income Tax Expense (Benefit), Continuing Operations | -8,906 | -8,595 |
Earnings from continuing operations | 15,499 | 18,134 |
(Loss) earnings from discontinued operations, net of income tax | -1,915 | 5,794 |
Net earnings | $13,584 | $23,928 |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Option Assumptions (Detail) (USD $) | 3 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected term | '6 years 0 months 17 days | '5 years 11 months |
Expected volatility | 30.27% | 37.41% |
Expected dividend yield | 2.48% | 2.36% |
Risk-free interest rate | 1.91% | 1.78% |
Weighted-average market value of underlying stock at grant date | $22.66 | $31.07 |
Weighted average exercise price (USD per share) | $22.66 | $31.07 |
Weighted-average fair value of options granted during the period | $6.10 | $9.18 |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Stock Option Activity under Company's Share-Based Compensation Plans (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 | Oct. 31, 2014 | Jul. 31, 2014 |
Service Based Option [Member] | Service Based Option [Member] | Service Based Restricted Shares and Restricted Stock Units [Member] | Service Based Restricted Shares and Restricted Stock Units [Member] | Performance Based Restricted Shares and Restricted Stock Units [Member] | Performance Based Restricted Shares and Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Options outstanding, ending balance, weighted average remaining contractual term | '5 years 5 months | ' | ' | ' | ' | ' | ' | ' |
Options outstanding, exercisable, weighted average remaining contractual term | '4 years 2 months | ' | ' | ' | ' | ' | ' | ' |
Options outstanding, ending balance, aggregate intrinsic value | $1,175,785 | ' | ' | ' | ' | ' | ' | ' |
Options outstanding, exercisable, aggregate intrinsic value | $584,528 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Options Outstanding | ' | ' | 4,343,342 | 4,204,260 | ' | ' | ' | ' |
Options Outstanding, Weighted Average Exercise Price | ' | ' | $29.79 | $30.82 | ' | ' | ' | ' |
Options, Grants in Period | 612,427 | ' | ' | ' | ' | ' | ' | ' |
Options, Grants in Period, Weighted Average Exercise Price | $22.66 | $31.07 | ' | ' | ' | ' | ' | ' |
Options, Exercised in Period | ' | ' | -3,500 | ' | ' | ' | ' | ' |
Options, Exercises in Period, Weighted Average Exercise Price | ' | ' | $20.95 | ' | ' | ' | ' | ' |
Options, Forfeitures or Expirations in Period | ' | ' | -469,845 | ' | ' | ' | ' | ' |
Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | ' | ' | $29.81 | ' | ' | ' | ' | ' |
Options Exercisable | 3,339,992 | 3,466,777 | ' | ' | ' | ' | ' | ' |
Weighted average exercise price of options exercisable | $30.94 | $30.93 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Instruments Other than Options, Nonvested, Number | ' | ' | ' | ' | 277,320 | 104,857 | 0 | 80,000 |
Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $24.90 | $31.02 | $0 | $32.50 |
RSUs and Restricted Shares, Grants in Period | ' | ' | ' | ' | 224,398 | ' | 0 | ' |
RSUs and Restricted Shares, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $23.45 | ' | $0 | ' |
Equity Instruments Other than Options, Vested in Period | ' | ' | ' | ' | 32,458 | ' | 0 | ' |
Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $30.86 | ' | $0 | ' |
Equity Instruments Other than Options, Forfeited in Period | ' | ' | ' | ' | -19,477 | ' | -80,000 | ' |
Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $31.28 | ' | $32.50 | ' |
Stock_Based_Compensation_Addit
Stock Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options, Grants in Period | 612,427 | ' |
Shares authorized | 4,620,662 | ' |
Shares reserved for future issuance | 3,325,301 | ' |
Share-based compensation expense | $1,319 | $2,600 |
Share-based compensation expense (net of tax) | 818 | 1,586 |
Unrealized compensation cost related to share-based compensation, pre tax | 11,425 | ' |
Weighted average period remaining | '2 years 7 months 30 days | ' |
Options outstanding, exercisable | 3,339,992 | 3,466,777 |
Options Exercisable, Weighted Average Exercise Price | $30.94 | $30.93 |
Proceeds from stock options exercised | 91 | 5,209 |
Tax benefit on options exercised | 3 | 472 |
Intrinsic value of options exercised | 7 | 1,211 |
Fair value of options vested | $3,684 | $8,383 |
Options, Grants in Period, Weighted Average Exercise Price | $22.66 | $31.07 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $6.10 | $9.18 |
Service Based Restricted Shares and Restricted Stock Units [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
RSUs and Restricted Shares, Grants in Period | 224,398 | ' |
RSUs and Restricted Shares, Grants in Period, Weighted Average Grant Date Fair Value | $23.45 | ' |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis (Detail) (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | $16,140 | $16,128 |
Total Liabilities | 333 | 389 |
Other Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading securities | 15,471 | 15,962 |
Prepaid expenses and other current assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Foreign Exchange Contracts | 669 | 166 |
Other current liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Foreign Exchange Contracts | 333 | 389 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 15,471 | 15,962 |
Total Liabilities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Other Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading securities | 15,471 | 15,962 |
Fair Value, Inputs, Level 1 [Member] | Prepaid expenses and other current assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Foreign Exchange Contracts | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Other current liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Foreign Exchange Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 669 | 166 |
Total Liabilities | 333 | 389 |
Fair Value, Inputs, Level 2 [Member] | Other Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Trading securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Prepaid expenses and other current assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Foreign Exchange Contracts | 669 | 166 |
Fair Value, Inputs, Level 2 [Member] | Other current liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Foreign Exchange Contracts | $333 | $389 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | Oct. 31, 2014 | Jul. 31, 2014 | Jul. 31, 2014 |
In Thousands, unless otherwise specified | People ID [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Goodwill, Carrying Value | $501,794 | $515,004 | $193,689 |
Goodwill, Fair Value | ' | ' | 93,277 |
Goodwill, Impairment Loss | ' | ' | 100,412 |
Finite-Lived Customer Relationships, Carrying Value | ' | ' | 88,803 |
Finite-lived Customer Relationships, Fair Value | ' | ' | 44,600 |
Indefinite Lived Intangibles, Carrying Value | ' | ' | 5,384 |
Indefinite-lived Intangible Assets, Fair Value | ' | ' | 1,448 |
Intangible Assets, Impairment Loss | ' | ' | 48,139 |
Debt, Fair Value | 210,152 | 216,280 | ' |
Debt, Carrying Value | $195,990 | $201,810 | ' |
Restructuring_Additional_Infor
Restructuring - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | $4,278 | $6,840 |
Employee Severance [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | 2,588 | 6,492 |
Asset Write Offs [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | 200 | ' |
Facility Closing [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | 948 | 348 |
Contract Termination [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | 542 | ' |
Id Solutions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | 2,386 | 3,977 |
Workplace Safety [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges | $1,892 | $2,863 |
Restructuring_Restructuring_Re
Restructuring - Restructuring Reserve Roll Forward (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance, July 31, 2014 | $4,995 | ' |
Restructuring charges in continuing operations | 4,278 | 6,840 |
Restructuring Charges in Discontinued Operations | 241 | ' |
Non-cash write-offs | -196 | 0 |
Cash payments | -3,393 | ' |
Ending balance, October 31, 2014 | 5,925 | ' |
Asset Write Offs [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance, July 31, 2014 | 0 | ' |
Restructuring charges in continuing operations | 200 | ' |
Restructuring Charges in Discontinued Operations | -4 | ' |
Non-cash write-offs | -196 | ' |
Cash payments | 0 | ' |
Ending balance, October 31, 2014 | 0 | ' |
Employee Severance [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance, July 31, 2014 | 3,389 | ' |
Restructuring charges in continuing operations | 2,588 | 6,492 |
Restructuring Charges in Discontinued Operations | 0 | ' |
Non-cash write-offs | 0 | ' |
Cash payments | -2,141 | ' |
Ending balance, October 31, 2014 | 3,836 | ' |
Other Restructuring Cost [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance, July 31, 2014 | 1,606 | ' |
Restructuring charges in continuing operations | 1,490 | ' |
Restructuring Charges in Discontinued Operations | 245 | ' |
Non-cash write-offs | 0 | ' |
Cash payments | -1,252 | ' |
Ending balance, October 31, 2014 | $2,089 | ' |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities - Additional Information (Detail) | 3 Months Ended | ||||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2014 | Oct. 31, 2014 | 13-May-10 |
USD ($) | USD ($) | USD ($) | GBP-denominated interco debt [Member] | Senior Unsecured Notes [Member] | |
GBP (£) | GBP (£) | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Derivative maturity | '18 months | ' | ' | ' | ' |
Derivative, Notional Amount | $67,000 | ' | $104,000 | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 601 | -15 | ' | ' | ' |
Reclassification adjustment for losses (gains) included in net earnings | 21 | -90 | ' | ' | ' |
Total outstanding forward foreign exchange contracts | 16,643 | ' | ' | ' | ' |
Net investment hedges to hedge portions of net investment | ' | ' | ' | 25,036 | 75,000 |
Amount Outstanding Forward Foreign Exchange Contracts Net Investment Hedge | 4,700 | ' | 5,300 | ' | ' |
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax | -295 | -244 | ' | ' | ' |
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | ($841) | $1,447 | ' | ' | ' |
Derivatives_and_Hedging_Activi3
Derivatives and Hedging Activities - Fair Values of Derivative Instruments in Consolidated Balance Sheets (Detail) (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
In Thousands, unless otherwise specified | ||
Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Asset Derivatives | $568 | $0 |
Liability Derivatives | 94,590 | 100,424 |
Not designated as hedging Instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Asset Derivatives | 100 | 166 |
Liability Derivatives | 333 | 375 |
Prepaid expenses and other current assets [Member] | Foreign exchange contract [Member] | Not designated as hedging Instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Asset Derivatives | 100 | 166 |
Other current liabilities [Member] | Foreign exchange contract [Member] | Not designated as hedging Instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Liability Derivatives | 333 | 375 |
Cash flow hedging | Prepaid expenses and other current assets [Member] | Foreign exchange contract [Member] | Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Asset Derivatives | 544 | 0 |
Cash flow hedging | Other current liabilities [Member] | Foreign exchange contract [Member] | Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Liability Derivatives | 0 | 0 |
Net investment hedging [Member] | Prepaid expenses and other current assets [Member] | Foreign exchange contract [Member] | Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Asset Derivatives | 24 | 0 |
Net investment hedging [Member] | Prepaid expenses and other current assets [Member] | Foreign currency denominated debt [Member] | Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Asset Derivatives | 0 | 0 |
Net investment hedging [Member] | Other current liabilities [Member] | Foreign exchange contract [Member] | Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Liability Derivatives | 0 | 14 |
Net investment hedging [Member] | Long term obligations less current maturities [Member] | Foreign currency denominated debt [Member] | Designated as hedging instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Liability Derivatives | $94,590 | $100,410 |
Discontinued_Operations_Operat
Discontinued Operations Operating Results, Discontinued Operations (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $34,979 | $172 |
Net sales | 0 | 65,857 |
(Loss) earnings from operations of discontinued businesses | -1,201 | 8,329 |
Income tax expense | -288 | -2,535 |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | -487 | 0 |
Discontinued Operation, Tax Effect of Income (Loss) from Disposal of Discontinued Operation | 61 | 0 |
(Loss) earnings from discontinued operations, net of income tax | -1,915 | 5,794 |
Accumulated Translation Adjustment [Member] | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $34,697 | $0 |
Notes_Payable_Additional_Infor
Notes Payable - Additional Information (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2014 |
Notes Payable [Line Items] | ' | ' | ' |
Notes payable | $94,708 | ' | $61,422 |
Letters of Credit Outstanding | 3,500 | ' | ' |
Proceeds from borrowing on notes payable | 41,000 | 0 | ' |
USD-denominated credit facility China [Member] | ' | ' | ' |
Notes Payable [Line Items] | ' | ' | ' |
Repayments of Lines of Credit | 7,714 | ' | ' |
Maximum Amount Outstanding | 19,422 | ' | ' |
Remaining borrowing capacity | 12,492 | ' | ' |
Maximum Borrowing Capacity | 24,200 | ' | ' |
USD-Denominated Borrowing Credit Revolver [Member] | ' | ' | ' |
Notes Payable [Line Items] | ' | ' | ' |
Notes payable | 83,000 | ' | 42,000 |
Remaining borrowing capacity | 213,500 | ' | ' |
Maximum Borrowing Capacity | $363,500 | ' | ' |
Notes_Payable_Notes_Payable_Sc
Notes Payable Notes Payable - Schedule of Borrowings (Details) (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
In Thousands, unless otherwise specified | Rate | Rate |
Short-term Debt [Line Items] | ' | ' |
Notes payable | $94,708 | $61,422 |
Short-term Debt, Weighted Average Interest Rate | 1.71% | 2.03% |
USD-denominated credit facility China [Member] | China, Yuan Renminbi | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Notes payable | 11,708 | 12,499 |
Short-term Debt, Weighted Average Interest Rate | 5.04% | 5.04% |
USD-denominated credit facility China [Member] | United States of America, Dollars | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Notes payable | ' | 6,923 |
Short-term Debt, Weighted Average Interest Rate | ' | 1.35% |
USD-Denominated Borrowing Credit Revolver [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Notes payable | $83,000 | $42,000 |
Short-term Debt, Weighted Average Interest Rate | 1.24% | 1.25% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Income Tax Contingency [Line Items] | ' | ' |
Income tax expense (benefit) | $8,906 | $8,595 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $) | Nov. 19, 2014 |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Dividend declared (USD per share) | $0.20 |