Brady (BRC) 10-Q 19 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Oct. 31, 2015	Nov. 18, 2015
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	BRC
Entity Registrant Name	BRADY CORP
Entity Central Index Key	746,598
Current Fiscal Year End Date	--07-31
Entity Filer Category	Large Accelerated Filer
Class A nonvoting common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		47,041,462
Class B Voting Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,538,628

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Current assets:
Cash and cash equivalents	$ 110,610	$ 114,492
Accounts receivable—net	159,174	157,386
Inventories:
Finished products	63,500	66,700
Work-in-process	17,458	16,958
Raw materials and supplies	21,059	20,849
Total inventories	102,017	104,507
Prepaid expenses and other current assets	35,407	32,197
Total current assets	407,208	408,582
Other assets:
Goodwill	430,972	433,199
Other intangible assets	66,242	68,888
Deferred income taxes	20,811	22,310
Other	17,508	18,704
Property, plant and equipment, cost:
Land	5,097	5,284
Buildings and improvements	93,803	94,423
Machinery and equipment	257,602	270,086
Construction in progress	2,901	2,164
Property, plant and equipment, gross	359,403	371,957
Less accumulated depreciation	253,295	260,743
Property, plant and equipment—net	106,108	111,214
Total	1,048,849	1,062,897
Current liabilities:
Notes payable	9,173	10,411
Accounts payable	72,703	73,020
Wages and amounts withheld from employees	29,726	30,282
Taxes, other than income taxes	7,026	7,250
Accrued income taxes	9,609	7,576
Other current liabilities	41,723	38,194
Current maturities on long-term debt	0	42,514
Total current liabilities	169,960	209,247
Long-term obligations, less current maturities	241,434	200,774
Other liabilities	64,697	65,188
Total liabilities	476,091	475,209
Stockholders’ investment:
Class A nonvoting common stock—Issued 51,261,487 and 51,261,487 shares, respectively, and outstanding 47,040,129 and 47,781,184 shares, respectively	513	513
Class B voting common stock—Issued and outstanding, 3,538,628 shares	35	35
Additional paid-in capital	313,879	314,403
Earnings retained in the business	422,589	414,069
Treasury stock—4,221,358 and 3,480,303 shares, respectively, of Class A nonvoting common stock, at cost	(107,420)	(93,234)
Accumulated other comprehensive loss	(53,426)	(45,034)
Other	(3,412)	(3,064)
Total stockholders’ investment	572,758	587,688
Total	$ 1,048,849	$ 1,062,897

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Oct. 31, 2015	Jul. 31, 2015
Class A nonvoting common stock
Common stock, shares issued	51,261,487	51,261,487
Common stock, shares outstanding	47,040,129	47,781,184
Treasury stock, shares	4,221,358	3,480,303
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 STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Net sales	$ 283,073	$ 310,240
Cost of products sold	143,724	160,079
Gross margin	139,349	150,161
Operating expenses:
Research and development	8,569	9,631
Selling, general and administrative	100,678	109,279
Restructuring charges	0	4,278
Total operating expenses	109,247	123,188
Operating income	30,102	26,973
Other (expense) income:
Investment and other (expense) income	(759)	323
Interest expense	(2,151)	(2,891)
Earnings from continuing operations before income taxes	27,192	24,405
Income tax expense	8,489	8,906
Earnings from continuing operations	18,703	15,499
Loss from discontinued operations, net of income taxes	0	(1,915)
Net earnings	$ 18,703	$ 13,584
Weighted average common shares outstanding (in thousands):
Weighted average common shares outstanding, basic (in thousands):	51,029	51,251
Weighted average common shares outstanding, diluted (in thousands):	51,089	51,313
Class A Nonvoting Common Stock
Earnings Per Share
Earnings from continuing operations per basic share	$ 0.37	$ 0.30
Earnings from continuing operations per diluted share	0.37	0.30
Loss from discontinued operations per basic share	0	(0.03)
Loss from discontinued operations per diluted share	0	(0.04)
Net earnings per share, basic	0.37	0.27
Net earnings per share, diluted	0.37	0.26
Dividends	$ 0.20	$ 0.20
Class B Voting Common Stock
Other (expense) income:
Earnings from continuing operations	$ 17,919	$ 14,704
Earnings Per Share
Earnings from continuing operations per basic share	$ 0.35	$ 0.29
Earnings from continuing operations per diluted share	0.35	0.29
Loss from discontinued operations per basic share	0	(0.04)
Loss from discontinued operations per diluted share	0	(0.04)
Net earnings per share, basic	0.35	0.25
Net earnings per share, diluted	0.35	0.25
Dividends	$ 0.19	$ 0.18

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Statement of Comprehensive Income [Abstract]
Net earnings	$ 18,703	$ 13,584
Foreign currency translation adjustments:
Net loss recognized in other comprehensive loss	(6,483)	(24,303)
Reclassification adjustment for gains included in net earnings	0	(34,697)
Total foreign currency translation adjustments	(6,483)	(59,000)
Net investment hedge translation adjustments	871	8,151
Long-term intercompany loan translation adjustments:
Long-term intercompany loan translation adjustments:	(1,424)	(1,350)
Reclassification from OCI Intercompany Loans	0	(393)
Total intercompany loan translation adjustments	(1,424)	(1,743)
Cash flow hedges:
Net (loss) gain recognized in other comprehensive loss	(260)	601
Reclassification adjustment for (gains) losses included in net earnings	(457)	21
Total cash flow hedges	(717)	622
Pension and other post-retirement benefits:
Actuarial gain amortization	(161)	(214)
Prior service credit amortization	(622)	(81)
Total pension and post-retirement benefits	(783)	(295)
Other comprehensive income (loss), before tax	(8,536)	(52,265)
Income tax benefit (expense) related to items of other comprehensive loss	144	(3,326)
Other comprehensive loss, net of tax	(8,392)	(55,591)
Comprehensive income (loss)	$ 10,311	$ (42,007)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Operating activities:
Net earnings	$ 18,703	$ 13,584
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,889	10,123
Non-cash portion of stock-based compensation expense	2,596	1,319
Non-cash portion of stock-based compensation expense	0	196
Loss on sale of business, net	0	426
Deferred income taxes	726	2,346
Changes in operating assets and liabilities (net of effects of business acquisitions/divestitures):
Accounts receivable	(3,342)	(3,916)
Inventories	1,368	(7,077)
Prepaid expenses and other assets	(3,081)	(2,999)
Accounts payable and accrued liabilities	2,402	2,897
Income taxes	2,109	1,705
Net cash provided by operating activities	30,370	18,604
Investing activities:
Purchases of property, plant and equipment	(2,334)	(11,451)
Sale of business, net of cash retained	0	8,771
Other	1,539	592
Net cash used in investing activities	(795)	(2,088)
Financing activities:
Payment of dividends	(10,183)	(10,191)
Proceeds from issuance of common stock	0	91
Purchase of treasury stock	(16,160)	0
(Repayments) proceeds from borrowing on credit facilities	(2,738)	33,286
Debt issuance costs	(803)	0
Income tax on equity-based compensation, and other	(1,007)	(1,296)
Net cash (used in) provided by financing activities	(30,891)	21,890
Effect of exchange rate changes on cash	(2,566)	(3,766)
Net (decrease) increase in cash and cash equivalents	(3,882)	34,640
Cash and cash equivalents, beginning of period	114,492	81,834
Cash and cash equivalents, end of period	110,610	116,474
Cash paid during the period for:
Interest	2,144	3,032
Income taxes, net of refunds	$ 4,533	$ 7,323

Basis of Presentation

Basis of Presentation	3 Months Ended
	Oct. 31, 2015
Text Block [Abstract]
Basis of Presentation	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, 2015 and July 31, 2015 , its results of operations and comprehensive income (loss) for the three months ended October 31, 2015 and 2014 , and cash flows for the three months ended October 31, 2015 and 2014 . The consolidated balance sheet as of July 31, 2015 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, 2015 . 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 the three months ended October 31, 2014. A portion of the Die-Cut business was divested in fiscal 2014 and the remainder was divested in the first quarter of fiscal 2015. 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 I, "Discontinued Operations" for further discussion regarding the business.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill for the three months ended October 31, 2015 , were as follows: IDS WPS Total Balance as of July 31, 2015 $ 382,786 $ 50,413 $ 433,199 Translation adjustments (1,353 ) (874 ) $ (2,227 ) Balance as of October 31, 2015 $ 381,433 $ 49,539 $ 430,972 Goodwill at October 31, 2015 and July 31, 2015 included $118,637 and $209,392 of accumulated impairment losses within the ID Solutions ("IDS") and Workplace Safety ("WPS") segments, respectively, for a total of $328,029 . There were no impairment charges recorded during the three months ended October 31, 2015 . 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: October 31, 2015 July 31, 2015 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amortized other intangible assets: Patents 5 $ 12,092 $ (10,760 ) $ 1,332 5 $ 12,073 $ (10,641 ) $ 1,432 Trademarks and other 5 14,332 (13,076 ) 1,256 5 14,375 (12,471 ) 1,904 Customer relationships 7 136,108 (95,781 ) 40,327 7 136,693 (94,537 ) 42,156 Non-compete agreements and other 4 8,949 (8,927 ) 22 4 9,076 (9,032 ) 44 Unamortized other intangible assets: Trademarks N/A 23,305 — 23,305 N/A 23,352 — 23,352 Total $ 194,786 $ (128,544 ) $ 66,242 $ 195,569 $ (126,681 ) $ 68,888 The decrease in the gross carrying amount of other intangible assets as of October 31, 2015 compared to July 31, 2015 was due to the effects of currency fluctuations during the three-month period. The gross carrying amount of goodwill and other intangible assets in the Condensed Consolidated Balance Sheets at October 31, 2015 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, 2015 . Amortization expense on intangible assets was $ 2,633 and $ 3,369 for the three months ended October 31, 2015 and 2014 , respectively. The amortization over each of the next five fiscal years is projected to be $ 8,811 , $ 7,129 , $ 6,451 , $ 6,174 and $ 5,647 for the fiscal years ending July 31, 2016 , 2017 , 2018 , 2019 and 2020 , respectively.

Other Comprehensive Income Othe

Other Comprehensive Income Other Comprehensive Income (Loss)	3 Months Ended
	Oct. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note	Comprehensive Income (Loss) Other comprehensive income (loss) 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 loss, net of tax, for the three months ended October 31, 2015 : Unrealized gain on cash flow hedges Unamortized gain on post-retirement plans Foreign currency translation adjustments Accumulated other comprehensive loss Beginning balance, July 31, 2015 $ 9 $ 3,438 $ (48,481 ) $ (45,034 ) Other comprehensive income (loss) before reclassification 60 — (7,390 ) (7,330 ) Amounts reclassified from accumulated other comprehensive loss (279 ) (783 ) — (1,062 ) Ending balance, October 31, 2015 $ (210 ) $ 2,655 $ (55,871 ) $ (53,426 ) The increase in the accumulated other comprehensive loss as of October 31, 2015 compared to July 31, 2015 was primarily due to the appreciation of the U.S. dollar against other currencies. 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 $1,062 in amounts reclassified from accumulated other comprehensive loss, the $279 gain on cash flow hedges was reclassified into cost of products sold and the $783 gain on post-retirement plans was reclassified into selling, general and administrative expenses ("SG&A") on the Condensed Consolidated Statements of Earnings for the three months ended October 31, 2015 . The changes in accumulated other comprehensive income ("AOCI") by component, net of tax, for the three months ended October 31, 2014 were as follows: Unrealized (loss) 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 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. 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 Statements of Earnings for the three months ended October 31, 2014 . The following table illustrates the income tax benefit (expense) on the components of other comprehensive loss for the three months ended October 31, 2015 and 2014 : Three months ended October 31, 2015 2014 Income tax benefit (expense) related to items of other comprehensive loss: Net investment hedge translation adjustments $ (340 ) $ (3,179 ) Cash flow hedges 499 (203 ) Other income tax adjustments and currency translation (15 ) 56 Income tax benefit (expense) related to items of other comprehensive loss $ 144 $ (3,326 ) The income tax expense in the three months ended October 31, 2014 was primarily related to the foreign currency translation adjustment on the Company's Euro-denominated debt, which is designated as a net investment hedge, due to the appreciation of the U.S. dollar against the Euro during the three-month period.

Net Income per Common Share

Net Income per Common Share	3 Months Ended
	Oct. 31, 2015
Earnings Per Share [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, 2015 2014 Numerator: (in thousands) Earnings from continuing operations (Numerator for basic and diluted Class A Nonvoting Common Share) $ 18,703 $ 15,499 Less: Preferential dividends (783 ) (794 ) Preferential dividends on dilutive stock options (1 ) (1 ) Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share $ 17,919 $ 14,704 Denominator: (in thousands) Denominator for basic earnings from continuing operations per share for both Class A and Class B 51,029 51,251 Plus: Effect of dilutive stock options 60 62 Denominator for diluted earnings from continuing operations per share for both Class A and Class B 51,089 51,313 Earnings from continuing operations per Class A Nonvoting Common Share: Basic $ 0.37 $ 0.30 Diluted $ 0.37 $ 0.30 Earnings from continuing operations per Class B Voting Common Share: Basic $ 0.35 $ 0.29 Diluted $ 0.35 $ 0.29 Loss from discontinued operations per Class A Nonvoting Common Share: Basic $ — $ (0.03 ) Diluted $ — $ (0.04 ) Loss from discontinued operations per Class B Voting Common Share: Basic $ — $ (0.04 ) Diluted $ — $ (0.04 ) Net earnings per Class A Nonvoting Common Share: Basic $ 0.37 $ 0.27 Diluted $ 0.37 $ 0.26 Net earnings per Class B Voting Common Share: Basic $ 0.35 $ 0.25 Diluted $ 0.35 $ 0.25 Options to purchase approximately 4,172,000 and 3,897,000 shares of Class A Nonvoting Common Stock for the three months ended October 31, 2015 and 2014 , respectively, were not included in the computation of diluted net earnings 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, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is organized and managed on a global basis within three business platforms, ID Solutions, Workplace Safety, and People Identification ("PeopleID"), which aggregate into two reportable segments: IDS and WPS. 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 or Vice-President that reports directly to the Company's chief operating decision maker, its Chief Executive Officer. Each platform has its own distinct operations, which are 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 three operating segments, which aggregate into two 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, 2015 and 2014 : Three months ended October 31, 2015 2014 Sales to External Customers: ID Solutions $ 196,327 $ 212,097 Workplace Safety 86,746 98,143 Total Company $ 283,073 $ 310,240 Segment Profit: ID Solutions $ 40,004 $ 43,467 Workplace Safety 16,664 15,539 Total Company $ 56,668 $ 59,006 The following is a reconciliation of segment profit to earnings from continuing operations before income taxes for the three months ended October 31, 2015 and 2014 : Three months ended October 31, 2015 2014 Total profit from reportable segments $ 56,668 $ 59,006 Unallocated amounts: Administrative costs (26,566 ) (27,755 ) Restructuring charges — (4,278 ) Investment and other (expense) income (759 ) 323 Interest expense (2,151 ) (2,891 ) Earnings from continuing operations before income taxes $ 27,192 $ 24,405

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Oct. 31, 2015
Share-based Arrangements with Employees and Nonemployees [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 units ("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. Shares issued under the plan are referred to herein as "service-based" restricted shares and RSUs. As of October 31, 2015 , the Company has reserved 4,968,479 shares of Class A Nonvoting Common Stock for outstanding stock options, RSUs, and restricted shares and 2,238,223 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, 2015 and 2014 , was $2,596 ( $1,609 net of taxes) and $1,319 ( $818 net of taxes), respectively. As of October 31, 2015 , total unrecognized compensation cost related to stock-based compensation awards was $21,053 pre-tax, net of estimated forfeitures, which the Company expects to recognize over a weighted-average period of 3.0 years. The Company has estimated the fair value of its service-based stock option awards granted during the three months ended October 31, 2015 and 2014 , 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 2015 2014 Expected term (in years) 6.12 6.05 Expected volatility 28.59 % 30.27 % Expected dividend yield 2.59 % 2.48 % Risk-free interest rate 1.64 % 1.91 % Weighted-average market value of underlying stock at grant date $ 19.97 $ 22.66 Weighted-average exercise price $ 19.97 $ 22.66 Weighted-average fair value of options granted during the period $ 4.58 $ 6.10 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. A summary of stock option activity under the Company’s share-based compensation plans for the three months ended October 31, 2015 is presented below: Service-Based Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at July 31, 2015 3,500,951 $ 29.64 New grants 871,993 19.97 Exercised 0 — Forfeited or expired (152,462) 29.50 Outstanding at October 31, 2015 4,220,482 $ 27.64 6.0 $ 2,953 Exercisable at October 31, 2015 2,923,276 $ 30.32 4.5 $ 390 There were 2,923,276 and 3,339,992 options exercisable with a weighted average exercise price of $30.32 and $30.94 at October 31, 2015 and 2014 , respectively. The total fair value of stock options vested during the three months ended October 31, 2015 and 2014 , was $2,964 and $3,684 , respectively. No options were exercised during the three months ended October 31, 2015. The total intrinsic value of options exercised during the three months ended October 31, 2014 , based upon the average market price at the time of exercise during the period, was $7 . The cash received from the exercise of options and the tax benefit on these options during the three months ended October 31, 2014 was $91 and $3 , respectively. The following table summarizes the RSU activity under the Company's share-based compensation plans for the three months ended October 31, 2015 : Service-Based RSUs Shares Weighted Average Grant Date Fair Value Outstanding at July 31, 2015 677,454 $ 24.72 New grants 168,566 19.98 Vested (69,829 ) 25.00 Forfeited (28,194 ) 24.00 Outstanding at October 31, 2015 747,997 $ 23.66 The service-based RSUs granted during the three months ended October 31, 2014 had a weighted-average grant date fair value of $23.45 . The aggregate intrinsic value of unvested RSUs expected to vest at October 31, 2015 was $17,017 . The total fair value of RSUs vested during the three months ended October 31, 2015 and 2014 , was $1,419 and $762 , respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2015
Fair Value Disclosures [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, 2015 and July 31, 2015 , according to the valuation techniques the Company used to determine their fair values. Inputs Considered As Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Fair Values Balance Sheet Classifications October 31, 2015 Trading securities $ 13,945 $ — $ 13,945 Other assets Foreign exchange contracts — 629 629 Prepaid expenses and other current assets Total Assets $ 13,945 $ 629 $ 14,574 Foreign exchange contracts $ — $ 1,265 $ 1,265 Other current liabilities Total Liabilities $ — $ 1,265 $ 1,265 July 31, 2015 Trading securities $ 15,356 $ — $ 15,356 Other assets Foreign exchange contracts — 685 685 Prepaid expenses and other current assets Total Assets $ 15,356 $ 685 $ 16,041 Foreign exchange contracts $ — $ 1,280 $ 1,280 Other current liabilities Total Liabilities $ — $ 1,280 $ 1,280 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 H, “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, 2015 and 2014 . 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, 2015 . During fiscal 2015, goodwill with carrying amounts of $26,246 and $10,866 in the WPS APAC and WPS Americas reporting units, respectively, was written off entirely, resulting in impairment charges of $37,112 . 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, it was determined there was no excess fair value of the reporting units over the implied fair value of goodwill and thus, the remaining goodwill balances were impaired in fiscal 2015. The goodwill balances represented a Level 3 asset measured at fair value on a nonrecurring basis subsequent to its original recognition. During fiscal 2015, management evaluated other indefinite-lived intangible assets for recoverability using the income approach. The valuation was based upon current sales projections and profitability for each asset group, and the relief from royalty method was applied. Management evaluated other finite-lived intangible assets for recoverability using an undiscounted cash flow analysis based upon current sales projections and profitability for each asset group. This analysis resulted in an amount that was less than the carrying value of certain finite-lived intangible assets. Management measured the impairment loss of both indefinite and finite-lived intangible assets as the amount by which the carrying amount of the assets exceeded their fair value. As a result, other intangible assets with a carrying amount of $26,194 were written down to their estimated fair value of $19,543 . These represented Level 3 assets measured at fair value on a nonrecurring basis subsequent to their original recognition. These items resulted in a total impairment charge of $6,651 in fiscal 2015. 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 $249,607 and $252,254 at October 31, 2015 and July 31, 2015 , respectively, as compared to the carrying value of $241,434 and $243,288 at October 31, 2015 and July 31, 2015 , respectively.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Oct. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [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, 2015 and July 31, 2015 , the notional amount of outstanding forward exchange contracts was $ 126,945 and $139,300 , respectively. The Company hedges a portion of known exposures 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 forward 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 other comprehensive income ("OCI") and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of October 31, 2015 and 2014 , unrealized losses of $420 and unrealized gains of $601 were included in OCI, respectively. These balances are expected to be reclassified from OCI to earnings during the next twelve months when the hedged transactions impact earnings. For the three months ended October 31, 2015 and 2014 , the Company reclassified gains of $457 and losses of $21 from OCI into earnings, respectively. At October 31, 2015 , the U.S. dollar equivalent of these outstanding forward foreign exchange contracts totaled $ 24,920 , 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, 2015 , 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 foreign operations. The Company’s foreign denominated debt obligations are valued under a market approach using publicized spot prices. Additionally, the Company may utilize forward foreign exchange currency contracts designated as hedge instruments to hedge portions of its 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. There were no outstanding forward foreign exchange currency contracts designated as net investment hedges at October 31, 2015 and July 31, 2015. Non-Designated Hedges For the three months ended October 31, 2015 and 2014, the Company recognized losses of $ 413 of $841 , respectively, in “Investment and other (expense) 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 October 31, 2015 July 31, 2015 October 31, 2015 July 31, 2015 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Cash flow hedges Foreign exchange contracts Prepaid expenses and other current assets $ 463 Prepaid expenses and other current assets $ 518 Other current liabilities $ 767 Other current liabilities $ 737 Net investment hedges Foreign currency denominated debt Prepaid expenses and other current assets — Prepaid expenses and other current assets — Long term obligations, less current maturities 120,643 Long term obligations, less current maturities 121,514 Total derivatives designated as hedging instruments $ 463 $ 518 $ 121,410 $ 122,251 Derivatives not designated as hedging instruments Foreign exchange contracts Prepaid expenses and other current assets $ 629 Prepaid expenses and other current assets $ 168 Other current liabilities $ 1,265 Other current liabilities $ 543 Total derivatives not designated as hedging instruments $ 629 $ 168 $ 1,265 $ 543

Discontinued Operations Discont

Discontinued Operations Discontinued Operations	3 Months Ended
	Oct. 31, 2015
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 months ended October 31, 2014 . The following table summarizes the operating results of discontinued operations for the three months ended October 31, 2014 : Three months ended October 31, 2014 Net sales $ — Loss from operations of discontinued businesses (1,201 ) Income tax expense (288 ) Loss on sale of discontinued operations (487 ) Income tax benefit on sale of discontinued operations 61 Loss from discontinued operations, net of income tax $ (1,915 ) There were no assets or liabilities held for sale as of October 31, 2015 and July 31, 2015, respectively. In accordance with authoritative literature, accumulated other comprehensive income of $34,697 was reclassified to the Condensed Consolidated Statements of Earnings upon the closing of the second phase of the Die-Cut divestiture during the three months ended October 31, 2014 .

New Accounting Pronouncements N

New Accounting Pronouncements New Accounting Pronouncements	3 Months Ended
	Oct. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory", which requires that inventory within the scope of the guidance be measured at the lower of cost and net realizable value. Inventory measured using last-in, first-out (“LIFO”) is not impacted by the new standard. This guidance is effective for interim and annual periods beginning after December 15, 2016, with early adoption permitted and the prospective transition method should be applied. The Company is currently evaluating the impact of this update on its consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period." The new guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The guidance also clarifies that the performance target should not be reflected in estimating the grant-date fair value of the award. The guidance is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted. The Company does not expect the adoption of this update to have a material impact on the financial statements of the Company. 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 new guidance 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 standard permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued ASU 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," which defers the effective date of the new revenue recognition standard by one year. Under the ASU, the new revenue recognition standard is effective for the Company beginning in fiscal 2019. The Company is currently evaluating the impact of this update on its consolidated financial statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Oct. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On November 18, 2015, the Board of Directors declared a quarterly cash dividend to shareholders of the Company’s Class A and Class B Common Stock of $0.2025 per share payable on January 29, 2016, to shareholders of record at the close of business on January 8, 2016. On November 18, 2015, the Company's Board of Directors authorized an increase in the Company’s share repurchase program, authorizing the repurchase of an additional 807,692 shares, for a total of up to two million shares of the Company’s Class A Common Stock available for repurchase as of that date. The plan may be implemented by purchasing shares in the open market or in privately negotiated transactions, with repurchased shares available for use in connection with the Company's stock-based plans and for other corporate purposes.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the three months ended October 31, 2015 , were as follows: IDS WPS Total Balance as of July 31, 2015 $ 382,786 $ 50,413 $ 433,199 Translation adjustments (1,353 ) (874 ) $ (2,227 ) Balance as of October 31, 2015 $ 381,433 $ 49,539 $ 430,972
Schedule of Other Intangible Assets	The net book value of these assets was as follows: October 31, 2015 July 31, 2015 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amortized other intangible assets: Patents 5 $ 12,092 $ (10,760 ) $ 1,332 5 $ 12,073 $ (10,641 ) $ 1,432 Trademarks and other 5 14,332 (13,076 ) 1,256 5 14,375 (12,471 ) 1,904 Customer relationships 7 136,108 (95,781 ) 40,327 7 136,693 (94,537 ) 42,156 Non-compete agreements and other 4 8,949 (8,927 ) 22 4 9,076 (9,032 ) 44 Unamortized other intangible assets: Trademarks N/A 23,305 — 23,305 N/A 23,352 — 23,352 Total $ 194,786 $ (128,544 ) $ 66,242 $ 195,569 $ (126,681 ) $ 68,888

Other Comprehensive Income Ot19

Other Comprehensive Income Other Comprehensive Income, Net of Tax (Tables)	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table illustrates the changes in the balances of each component of accumulated other comprehensive loss, net of tax, for the three months ended October 31, 2015 : Unrealized gain on cash flow hedges Unamortized gain on post-retirement plans Foreign currency translation adjustments Accumulated other comprehensive loss Beginning balance, July 31, 2015 $ 9 $ 3,438 $ (48,481 ) $ (45,034 ) Other comprehensive income (loss) before reclassification 60 — (7,390 ) (7,330 ) Amounts reclassified from accumulated other comprehensive loss (279 ) (783 ) — (1,062 ) Ending balance, October 31, 2015 $ (210 ) $ 2,655 $ (55,871 ) $ (53,426 )	The changes in accumulated other comprehensive income ("AOCI") by component, net of tax, for the three months ended October 31, 2014 were as follows: Unrealized (loss) 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
Other Comprehensive Income , Tax	The following table illustrates the income tax benefit (expense) on the components of other comprehensive loss for the three months ended October 31, 2015 and 2014 : Three months ended October 31, 2015 2014 Income tax benefit (expense) related to items of other comprehensive loss: Net investment hedge translation adjustments $ (340 ) $ (3,179 ) Cash flow hedges 499 (203 ) Other income tax adjustments and currency translation (15 ) 56 Income tax benefit (expense) related to items of other comprehensive loss $ 144 $ (3,326 ) The income tax expense in the three months ended October 31, 2014 was primarily related to the foreign currency translation adjustment on the Company's Euro-denominated debt, which is designated as a net investment hedge, due to the appreciation of the U.S. dollar against the Euro during the three-month period.

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	3 Months Ended
	Oct. 31, 2015
Earnings Per Share [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, 2015 2014 Numerator: (in thousands) Earnings from continuing operations (Numerator for basic and diluted Class A Nonvoting Common Share) $ 18,703 $ 15,499 Less: Preferential dividends (783 ) (794 ) Preferential dividends on dilutive stock options (1 ) (1 ) Numerator for basic and diluted earnings from continuing operations per Class B Voting Common Share $ 17,919 $ 14,704 Denominator: (in thousands) Denominator for basic earnings from continuing operations per share for both Class A and Class B 51,029 51,251 Plus: Effect of dilutive stock options 60 62 Denominator for diluted earnings from continuing operations per share for both Class A and Class B 51,089 51,313 Earnings from continuing operations per Class A Nonvoting Common Share: Basic $ 0.37 $ 0.30 Diluted $ 0.37 $ 0.30 Earnings from continuing operations per Class B Voting Common Share: Basic $ 0.35 $ 0.29 Diluted $ 0.35 $ 0.29 Loss from discontinued operations per Class A Nonvoting Common Share: Basic $ — $ (0.03 ) Diluted $ — $ (0.04 ) Loss from discontinued operations per Class B Voting Common Share: Basic $ — $ (0.04 ) Diluted $ — $ (0.04 ) Net earnings per Class A Nonvoting Common Share: Basic $ 0.37 $ 0.27 Diluted $ 0.37 $ 0.26 Net earnings per Class B Voting Common Share: Basic $ 0.35 $ 0.25 Diluted $ 0.35 $ 0.25

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	Three months ended October 31, 2015 2014 Sales to External Customers: ID Solutions $ 196,327 $ 212,097 Workplace Safety 86,746 98,143 Total Company $ 283,073 $ 310,240 Segment Profit: ID Solutions $ 40,004 $ 43,467 Workplace Safety 16,664 15,539 Total Company $ 56,668 $ 59,006
Reconciliation of Segment Profit	The following is a reconciliation of segment profit to earnings from continuing operations before income taxes for the three months ended October 31, 2015 and 2014 : Three months ended October 31, 2015 2014 Total profit from reportable segments $ 56,668 $ 59,006 Unallocated amounts: Administrative costs (26,566 ) (27,755 ) Restructuring charges — (4,278 ) Investment and other (expense) income (759 ) 323 Interest expense (2,151 ) (2,891 ) Earnings from continuing operations before income taxes $ 27,192 $ 24,405

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Oct. 31, 2015
Share-based Arrangements with Employees and Nonemployees [Abstract]
Black-Scholes Option Valuation 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 2015 2014 Expected term (in years) 6.12 6.05 Expected volatility 28.59 % 30.27 % Expected dividend yield 2.59 % 2.48 % Risk-free interest rate 1.64 % 1.91 % Weighted-average market value of underlying stock at grant date $ 19.97 $ 22.66 Weighted-average exercise price $ 19.97 $ 22.66 Weighted-average fair value of options granted during the period $ 4.58 $ 6.10
Summary of Stock Option Activity	A summary of stock option activity under the Company’s share-based compensation plans for the three months ended October 31, 2015 is presented below: Service-Based Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at July 31, 2015 3,500,951 $ 29.64 New grants 871,993 19.97 Exercised 0 — Forfeited or expired (152,462) 29.50 Outstanding at October 31, 2015 4,220,482 $ 27.64 6.0 $ 2,953 Exercisable at October 31, 2015 2,923,276 $ 30.32 4.5 $ 390
Summary of RSU Activity	The following table summarizes the RSU activity under the Company's share-based compensation plans for the three months ended October 31, 2015 : Service-Based RSUs Shares Weighted Average Grant Date Fair Value Outstanding at July 31, 2015 677,454 $ 24.72 New grants 168,566 19.98 Vested (69,829 ) 25.00 Forfeited (28,194 ) 24.00 Outstanding at October 31, 2015 747,997 $ 23.66 The service-based RSUs granted during the three months ended October 31, 2014 had a weighted-average grant date fair value of $23.45 . The aggregate intrinsic value of unvested RSUs expected to vest at October 31, 2015 was $17,017 . The total fair value of RSUs vested during the three months ended October 31, 2015 and 2014 , was $1,419 and $762 , respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Accounted for at Fair Value on a Recurring Basis	Inputs Considered As Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Fair Values Balance Sheet Classifications October 31, 2015 Trading securities $ 13,945 $ — $ 13,945 Other assets Foreign exchange contracts — 629 629 Prepaid expenses and other current assets Total Assets $ 13,945 $ 629 $ 14,574 Foreign exchange contracts $ — $ 1,265 $ 1,265 Other current liabilities Total Liabilities $ — $ 1,265 $ 1,265 July 31, 2015 Trading securities $ 15,356 $ — $ 15,356 Other assets Foreign exchange contracts — 685 685 Prepaid expenses and other current assets Total Assets $ 15,356 $ 685 $ 16,041 Foreign exchange contracts $ — $ 1,280 $ 1,280 Other current liabilities Total Liabilities $ — $ 1,280 $ 1,280

Derivatives and Hedging Activ24

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Oct. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [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 October 31, 2015 July 31, 2015 October 31, 2015 July 31, 2015 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Cash flow hedges Foreign exchange contracts Prepaid expenses and other current assets $ 463 Prepaid expenses and other current assets $ 518 Other current liabilities $ 767 Other current liabilities $ 737 Net investment hedges Foreign currency denominated debt Prepaid expenses and other current assets — Prepaid expenses and other current assets — Long term obligations, less current maturities 120,643 Long term obligations, less current maturities 121,514 Total derivatives designated as hedging instruments $ 463 $ 518 $ 121,410 $ 122,251 Derivatives not designated as hedging instruments Foreign exchange contracts Prepaid expenses and other current assets $ 629 Prepaid expenses and other current assets $ 168 Other current liabilities $ 1,265 Other current liabilities $ 543 Total derivatives not designated as hedging instruments $ 629 $ 168 $ 1,265 $ 543

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Oct. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
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 : Three months ended October 31, 2014 Net sales $ — Loss from operations of discontinued businesses (1,201 ) Income tax expense (288 ) Loss on sale of discontinued operations (487 ) Income tax benefit on sale of discontinued operations 61 Loss from discontinued operations, net of income tax $ (1,915 )

Goodwill Rollforward (Detail)

Goodwill Rollforward (Detail) $ in Thousands	3 Months Ended
	Oct. 31, 2015USD ($)
Goodwill
Balance as of July 31, 2015	$ 433,199
Translation adjustments	(2,227)
Balance as of October 31, 2015	430,972
ID Solutions [Member]
Goodwill
Balance as of July 31, 2015	382,786
Translation adjustments	(1,353)
Balance as of October 31, 2015	381,433
Workplace Safety [Member]
Goodwill
Balance as of July 31, 2015	50,413
Translation adjustments	(874)
Balance as of October 31, 2015	$ 49,539

Goodwill Impairment (Detail)

Goodwill Impairment (Detail) $ in Thousands	Oct. 31, 2015USD ($)
Goodwill Impairment
Goodwill, Impaired, Accumulated Impairment Loss	$ 328,029
ID Solutions [Member]
Goodwill Impairment
Goodwill, Impaired, Accumulated Impairment Loss	118,637
Workplace Safety [Member]
Goodwill Impairment
Goodwill, Impaired, Accumulated Impairment Loss	$ 209,392

Other Intangible Assets (Detail

Other Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Jul. 31, 2015
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization of Intangible Assets	$ 2,633	$ 3,369
Intangible Assets, Amortization Expense, Next Twelve Months	8,811
Intangible Assets, Amortization Expense, Year Two	7,129
Intangible Assets, Amortization Expense, Year Three	6,451
Intangible Assets, Amortization Expense, Year Four	6,174
Intangible Assets, Amortization Expense, Year Five	5,647
Other Intangible Assets [Line Items]
Gross Carrying Amount	194,786		$ 195,569
Accumulated Amortization	(128,544)		(126,681)
Net Book Value	$ 66,242		$ 68,888
Patents [Member]
Other Intangible Assets [Line Items]
Weighted Average Amortization Period	5 years		5 years
Gross Carrying Amount	$ 12,092		$ 12,073
Accumulated Amortization	(10,760)		(10,641)
Net Book Value	$ 1,332		$ 1,432
Trademarks and other [Member]
Other Intangible Assets [Line Items]
Weighted Average Amortization Period	5 years		5 years
Gross Carrying Amount	$ 14,332		$ 14,375
Accumulated Amortization	(13,076)		(12,471)
Net Book Value	$ 1,256		$ 1,904
Customer relationships [Member]
Other Intangible Assets [Line Items]
Weighted Average Amortization Period	7 years		7 years
Gross Carrying Amount	$ 136,108		$ 136,693
Accumulated Amortization	(95,781)		(94,537)
Net Book Value	$ 40,327		$ 42,156
Non-compete agreements and other [Member]
Other Intangible Assets [Line Items]
Weighted Average Amortization Period	4 years		4 years
Gross Carrying Amount	$ 8,949		$ 9,076
Accumulated Amortization	(8,927)		(9,032)
Net Book Value	22		44
Trademarks [Member]
Other Intangible Assets [Line Items]
Gross Carrying Amount	23,305		23,352
Accumulated Amortization	0		0
Net Book Value	$ 23,305		$ 23,352

Other Comprehensive Income Sche

Other Comprehensive Income Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (45,034)	$ 64,156
Other comprehensive income (loss) before reclassification	(7,330)	(20,612)
Amounts reclassified from accumulated other comprehensive income	1,062	34,979
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	0	34,697
Ending balance	(53,426)	8,565
Unrealized (loss) gain on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	9	(12)
Other comprehensive income (loss) before reclassification	60	418
Amounts reclassified from accumulated other comprehensive income	279	(13)
Ending balance	(210)	419
Unamortized gain on post-retirement plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	3,438	4,854
Other comprehensive income (loss) before reclassification	0	0
Amounts reclassified from accumulated other comprehensive income	783	295
Ending balance	2,655	4,559
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(48,481)	59,314
Other comprehensive income (loss) before reclassification	(7,390)	(21,030)
Amounts reclassified from accumulated other comprehensive income	0
Ending balance	$ (55,871)	$ 3,587

Other Comprehensive Income Sc30

Other Comprehensive Income Schedule of Other Comprehensive Income, Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Other Comprehensive Income (Loss), Tax [Abstract]
Derivatives used in Net Investment Hedge, Tax Benefit (Expense)	$ (340)	$ (3,179)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	(499)	203
Other Comprehensive Income Tax Other Adjustments	(15)	56
Other Comprehensive Income (Loss), Tax	$ (144)	$ 3,326

Net Income per Common Share - R

Net Income per Common Share - Reconciliation of Numerator and Denominator of Basic and Diluted Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Line Items]
Earnings from continuing operations	$ 18,703	$ 15,499
Denominator for basic earnings from continuing operations per share for both Class A and Class B	51,029	51,251
Plus: Effect of dilutive stock options	60	62
Denominator for diluted earnings from continuing operations per share for both Class A and Class B	51,089	51,313
Class A Nonvoting Common Stock
Earnings Per Share [Line Items]
Earnings from continuing operations per basic share	$ 0.37	$ 0.30
Earnings from continuing operations per diluted share	0.37	0.30
Loss from discontinued operations per basic share	0	(0.03)
Loss from discontinued operations per diluted share	0	(0.04)
Net earnings per share, basic	0.37	0.27
Net earnings per share, diluted	$ 0.37	$ 0.26
Class B Voting Common Stock
Earnings Per Share [Line Items]
Preferential dividends	$ (783)	$ (794)
Preferential dividends on dilutive stock options	(1)	(1)
Earnings from continuing operations	$ 17,919	$ 14,704
Earnings from continuing operations per basic share	$ 0.35	$ 0.29
Earnings from continuing operations per diluted share	0.35	0.29
Loss from discontinued operations per basic share	0	(0.04)
Loss from discontinued operations per diluted share	0	(0.04)
Net earnings per share, basic	0.35	0.25
Net earnings per share, diluted	$ 0.35	$ 0.25

Net Income per Common Share - A

Net Income per Common Share - Additional Informations (Detail) - shares	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Abstract]
Common stock of Class A shares excluded from computations of diluted net income per share	4,172,000	3,897,000

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information By Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Sales to External Customers	$ 283,073	$ 310,240
Segment Profit	56,668	59,006
ID Solutions [Member]
Segment Reporting Information [Line Items]
Sales to External Customers	196,327	212,097
Segment Profit	40,004	43,467
Workplace Safety [Member]
Segment Reporting Information [Line Items]
Sales to External Customers	86,746	98,143
Segment Profit	$ 16,664	$ 15,539

Segment Information - Net Incom

Segment Information - Net Income Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Segment Reconciliation [Abstract]
Total profit from reportable segments	$ 56,668	$ 59,006
Unallocated amounts:
Administrative costs	(26,566)	(27,755)
Restructuring charges	0	(4,278)
Investment and other income	(759)	323
Interest expense	(2,151)	(2,891)
Earnings from continuing operations before income taxes	$ 27,192	$ 24,405

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Assumptions (Detail) - $ / shares	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected term (in years)	6 years 1 month 12 days	6 years 17 days
Expected volatility	28.59%	30.27%
Expected dividend yield	2.59%	2.48%
Risk-free interest rate	1.64%	1.91%
Weighted-average market value of underlying stock at grant date	$ 19.97	$ 22.66
Weighted average exercise price	19.97	22.66
Weighted-average fair value of options granted during the period	$ 4.58	$ 6.10

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity under Company's Share-Based Compensation Plans (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Stock Option Activity
Options Outstanding at July 31, 2015	3,500,951
Options Outstanding at July 31, 2015, Weighted Average Exercise Price	$ 29.64
Options, Grants in Period	871,993
Options, Grants in Period, Weighted Average Exercise Price	$ 19.97	$ 22.66
Options, Exercised in Period	0
Options, Exercises in Period, Weighted Average Exercise Price	$ 0
Options, Forfeitures or Expirations in Period	(152,462)
Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 29.50
Options Outstanding at October 31, 2015	4,220,482
Options Outstanding at October 31, 2015, Weighted Average Exercise Price	$ 27.64
Options Outstanding, Weighted Average Remaining Contractual Term	6 years
Options Outstanding, Aggregate Intrinsic Value	$ 2,953
Options Exercisable, Weighted Average Exercise Price	$ 30.32	$ 30.94
Options Exercisable	2,923,276	3,339,992
Options Exercisable, Weighted Average Remaining Contractual Term	4 years 6 months
Options Exercisable, Aggregate Intrinsic Value	$ 390
Service-Based RSU Activity
Service-Based RSUs Outstanding at July 31, 2015	677,454
Service-Based RSUs, Outstanding at July 31, 2015, Weighted Average Grant Date Fair Value	$ 24.72
Service-Based RSUs, Grants in Period	168,566
Service-Based RSUs, Grants in Period, Weighted Average Grant Date Fair Value	$ 19.98	$ 23.45
Service-Based RSUs, Vested in Period	(69,829)
Service-Based RSUs, Vested in Period, Weighted Average Grant Date Fair Value	$ 25
Service-Based RSUs, Forfeited in Period	(28,194)
Service-Based RSUs, Forfeitures, Weighted Average Grant Date Fair Value	$ 24
Service-Based RSUs Outstanding at October 31, 2015	747,997
Service-Based RSUs, Outstanding at October 31, 2015, Weighted Average Grant Date Fair Value	$ 23.66

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Incentive Stock Plan
Shares authorized	4,968,479
Shares reserved for future issuance	2,238,223
Stock-Based Compensation Expense
Share-based compensation expense	$ 2,596	$ 1,319
Share-based compensation expense, net of tax	1,609	818
Unrealized compensation cost related to share-based compensation, pre tax	$ 21,053
Weighted average period remaining	3 years
Stock Options, Additional Disclosures
Proceeds from stock options exercised		91
Tax benefit on options exercised		3
Fair value of options vested	$ 2,964	$ 3,684
Service-Based RSUs, Additional Disclosures
Service-Based RSUs, Grants in Period, Weighted Average Grant Date Fair Value	$ 19.98	$ 23.45
Service-Based RSUs, Nonvested, Aggregate Intrinsic Value,	$ 17,017
Service-Based RSUs, Vested in Period, Fair Value	$ 1,419	$ 762

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 14,574	$ 16,041
Total Liabilities	1,265	1,280
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	13,945	15,356
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	13,945	15,356
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	629	685
Total Liabilities	1,265	1,280
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	629	685
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	$ 1,265	$ 1,280

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2015	Oct. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 252,254	$ 249,607
Debt, Carrying Value	243,288	$ 241,434
Workplace Safety [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, Impairment Loss	37,112
Other Intangible Assets, Carrying Value	26,194
Other Intangible Assets, Estimated Fair Value	19,543
Other Intangible Assets, Impairment Loss	6,651
WPS APAC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, Impairment Loss	26,246
WPS Americas [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, Impairment Loss	$ 10,866

Derivatives and Hedging Activ40

Derivatives and Hedging Activities - Fair Values of Derivative Instruments in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	$ 463	$ 518
Liability Derivatives	121,410	122,251
Not designated as hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	629	168
Liability Derivatives	1,265	543
Foreign exchange contract [Member] | Not designated as hedging Instruments [Member] | Prepaid expenses and other current assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	629	168
Foreign exchange contract [Member] | Not designated as hedging Instruments [Member] | Other current liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	1,265	543
Cash Flow Hedging [Member] | Foreign exchange contract [Member] | Designated as hedging instruments [Member] | Prepaid expenses and other current assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	463	518
Cash Flow Hedging [Member] | Foreign exchange contract [Member] | Designated as hedging instruments [Member] | Other current liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	767	737
Net Investment Hedging [Member] | Foreign currency denominated debt [Member] | Designated as hedging instruments [Member] | Long term obligations less current maturities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	$ 120,643	$ 121,514

Derivatives and Hedging Activ41

Derivatives and Hedging Activities - Additional Information (Detail) £ in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2015USD ($)	Oct. 31, 2014USD ($)	Oct. 31, 2015GBP (£)	Jul. 31, 2015USD ($)	May. 13, 2010GBP (£)
Summary
Derivative maturity	18 months
Derivative, Notional Amount	$ 126,945			$ 139,300
Summary of Cash Flow Hedge Activity
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	420	$ (601)
Cash Flow Hedge Gain (Loss) Reclassified from OCI to Earnings	(457)	21
Total Outstanding Forward Foreign Exchange Contracts	24,920
Summary of Derivative Instruments Not Designated as Hedging Instruments
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 413	$ (841)
GBP-denominated interco debt [Member]
Summary of Net Investment Hedge Activity
Net investment hedges to hedge portions of net investment | £			£ 25,036
Senior Unsecured Notes [Member]
Summary of Net Investment Hedge Activity
Net investment hedges to hedge portions of net investment | £					£ 75,000

Discontinued Operations Operati

Discontinued Operations Operating Results, Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Net sales		$ 0
Loss from operations of discontinued businesses		(1,201)
Income tax benefit on sale of discontinued operations		288
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax		(487)
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation		61
Loss from discontinued operations, net of income taxes	$ 0	$ (1,915)

Discontinued Operations Opera43

Discontinued Operations Operating Results, Details (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Accumulated Other Comprehensive Income Attributable to Disposal Group, Discontinued Operations	$ 0	$ 34,697

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 8,489	$ 8,906

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member]	Nov. 18, 2015$ / sharesshares
Subsequent Event [Line Items]
Dividend declared (USD per share) | $ / shares	$ 0.2025
Stock Repurchase Program, Additional Amount Authorized to be Repurchased	807,692
Stock Repurchase Program, Total Number of Shares Authorized to be Repurchased	2,000,000