XML 45 R23.htm IDEA: XBRL DOCUMENT v3.24.3
Intangible Assets
 12 Months Ended
Jul. 31, 2024
Finite-Lived Intangible Assets, Net [Abstract]  
Intangible Assets Intangible Assets
Intangible assets with finite lives as of July 31, 2024 and 2023 are as follows:
 July 31, 2024
 Weighted Average
Amortization Period		Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Customer relationships20.2$302,058,000 141,601,000 $160,457,000 
Technologies14.8113,149,000 87,809,000 25,340,000 
Trademarks and other16.732,926,000 23,895,000 9,031,000 
Total $448,133,000 253,305,000 $194,828,000 

 July 31, 2023
 Weighted Average
Amortization Period		Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Customer relationships20.2$302,058,000 121,786,000 $180,272,000 
Technologies14.8114,949,000 80,672,000 34,277,000 
Trademarks and other16.732,926,000 21,568,000 11,358,000 
Total $449,933,000 224,026,000 $225,907,000 

The weighted average amortization period in the above table excludes fully amortized intangible assets.

Amortization expense for the fiscal years ended July 31, 2024, 2023 and 2022 was $21,154,000, $21,396,000 and $21,396,000, respectively.

The estimated amortization expense consists of the following for the fiscal years ending July 31:
2025$21,722,000 
202619,128,000 
202717,774,000 
202817,774,000 
202916,353,000 
We review net intangible assets with finite lives for impairment when an event occurs indicating the potential for impairment. Based on our last assessment, we performed an impairment assessment of our Satellite and Space Communications segment’s long-lived assets in response to triggering events indicating potential impairment, namely the overall decline in financial performance of the segment and the Company’s decision to either complete a sale or wind-down our steerable antenna operations in the United Kingdom by the end of the first quarter of fiscal 2025. As such, we recognized an impairment loss of $9,925,000, related to net intangible assets with definite lives, which is included within intangible asset accumulated amortization in the table above. See Note (1)(h) - "Summary of Significant Accounting and Reporting Policies, Long-Lived Assets" for more information We believe that the carrying values of our remaining net intangible assets were recoverable as of July 31, 2024. However, if business conditions deteriorate, we may be required to record impairment losses, and/or increase the amortization of intangibles in the future. Any impairment charges that we may record in the future could be material to our results of operations and financial condition.