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Commitments and Contingencies | 9 Months Ended
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Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Note 17. Commitments and Contingencies The Company records provisions when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. Claims and litigation are reviewed quarterly and provisions are taken or adjusted to reflect the status of a particular matter. The Company believes the estimated liability in its Condensed Consolidated Financial Statements for claims or litigation is adequate and appropriate for the probable and estimable outcomes. Liabilities recorded were not material to the Company’s financial position, results of operations or liquidity. The Company believes it is remote that the settlement of any of the currently identified claims or litigation will be materially in excess of what is accrued. Contingent Compensation and Consideration Acquisition Agreement - Purilogics The Company has an acquisition purchase agreement with Purilogics, which includes deferred payment provisions representing potential milestone payments for Purilogics’ former owners. The provisions are made up of two general types of arrangements, contingent compensation and contingent consideration. The contingent compensation arrangement is contingent on the former owner’s future employment with the Company, and the related amounts are recognized over the required employment period. The contingent consideration is not contingent on employment and was recorded as purchase consideration in both other current and other long-term liabilities on the Condensed Consolidated Balance Sheets at the time of the initial acquisition based on the fair value of the estimated liability. The amounts are paid over a three- to five-year period, contingent on the achievement of certain revenue and manufacturing milestones. The total contingent compensation arrangement liability was $0.8 million and $0.1 million as of April 30, 2023 and July 31, 2022, respectively, which was included in other long-term liabilities on the Condensed Consolidated Balance Sheets. The maximum payout of the contingent compensation arrangement upon completion of the future performance periods was $3.0 million as of April 30, 2023 and July 31, 2022, inclusive of the $0.8 million and $0.1 million accrued, respectively. The total contingent consideration liability was $23.3 million and $23.0 million as of April 30, 2023 and July 31, 2022, respectively, and was included in other current and other long-term liabilities on the Condensed Consolidated Balance Sheets. The Company primarily determines the contingent consideration liability based on the forecasted probability of achieving certain milestones. The contingent consideration liability is measured at fair value each reporting period and changes in estimates of fair value are recognized in earnings. The maximum payout of the contingent consideration was $29.0 million, inclusive of the $23.3 million and $23.0 million accrued as of April 30, 2023 and July 31, 2022, respectively. Other Acquisition Agreements For other acquisitions, the total contingent compensation arrangement liability was $0.7 million and $0.3 million as of April 30, 2023 and July 31, 2022, respectively, which was included in other long-term liabilities on the Condensed Consolidated Balance Sheets. The maximum payout of the contingent compensation arrangement upon completion of the future performance periods was $3.1 million, which terminates in five years, inclusive of the $0.7 million and $0.3 million accrued as of April 30, 2023 and July 31, 2022, respectively. The total contingent consideration liability was $1.7 million, which was included in other long-term liabilities on the Condensed Consolidated Balance Sheets, as of April 30, 2023 and July 31, 2022. The maximum payout of the contingent consideration was $1.7 million, which terminates in approximately two years and was fully accrued as of April 30, 2023 and July 31, 2022. For additional discussion regarding the fair value of the Company’s contingent consideration liability, see Note 15.

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