Goodwill and Intangible Assets
 9 Months Ended
Apr. 30, 2011
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
NOTE B — Goodwill and Intangible Assets
Changes in the carrying amount of goodwill for the nine months ended April 30, 2011, are as follows:
                                 
    Americas     Europe     Asia-Pacific     Total  
Balance as of July 31, 2010
  $ 425,018     $ 163,189     $ 180,393     $ 768,600  
Current year acquisitions
    —       —       4,792       4,792  
Current year divestitures
    (3,696 )     (8,380 )     —       (12,076 )
Translation adjustments
    4,203       18,847       15,029       38,079  
 
                       
Balance as of April 30, 2011
  $ 425,525     $ 173,656     $ 200,214     $ 799,395  
 
                       
Goodwill increased $30,795 during the nine months ended April 30, 2011. Of the $30,795 increase, $38,079 was due to the positive effects of foreign currency translation and $4,792 resulted from the acquisition of ID Warehouse during the second quarter of fiscal 2011. The increase was offset by a $12,076 decrease in goodwill as a result of the divestiture of the Company’s Teklynx business during the second quarter of fiscal 2011. See Note L, “Acquisitions and Divestitures” for further discussion.
Other intangible assets include patents, trademarks, customer relationships, non-compete agreements and other intangible assets with finite lives being amortized in accordance with accounting guidance for goodwill and other intangible assets. The net book value of these assets was as follows:
                                                                 
    April 30, 2011     July 31, 2010  
    Weighted                             Weighted                    
    Average                             Average                    
    Amortization     Gross                     Amortization     Gross              
    Period     Carrying     Accumulated     Net Book     Period     Carrying     Accumulated     Net Book  
    (Years)     Amount     Amortization     Value     (Years)     Amount     Amortization     Value  
Amortized other intangible assets:
                                                               
Patents
    5     $ 9,687     $ (8,452 )   $ 1,235       5     $ 9,314     $ (7,855 )   $ 1,459  
Trademarks and other
    7       9,434       (6,505 )     2,929       7       8,823       (5,685 )     3,138  
Customer relationships
    7       164,840       (115,293 )     49,547       7       152,720       (95,996 )     56,724  
Non-compete agreements
    4       13,523       (12,709 )     814       4       11,930       (11,059 )     871  
Other
    4       2,731       (2,723 )     8       4       3,309       (3,297 )     12  
Unamortized other intangible assets:
                                                               
Trademarks
    N/A       41,853       —       41,853       N/A       41,342       —       41,342  
 
                                                   
Total
          $ 242,068     $ (145,682 )   $ 96,386             $ 227,438     $ (123,892 )   $ 103,546  
 
                                                   
The value of goodwill and other intangible assets in the Condensed Consolidated Balance Sheet at April 30, 2011 differs from the value assigned to them in the allocation of purchase price due to the effect of fluctuations in the exchange rates used to translate financial statements into the United States Dollar between the date of acquisition and April 30, 2011. The acquisition completed during the nine months ended April 30, 2011 increased the customer relationships by $1,846 and increased the amortizable trademarks by $487. See Note L, “Acquisitions and Divestitures” for further discussion.
Amortization expense on intangible assets was $5,117 and $5,160 for the three-month periods ended April 30, 2011 and 2010, respectively and $15,387 and $16,395 for the nine-month periods ended April 30, 2011 and 2010, respectively. Annual amortization is projected to be $20,740, $16,794, $10,959, $5,941 and $5,531 for the years ending July 31, 2011, 2012, 2013, 2014 and 2015, respectively.