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Discontinued Operations (Tables)
 12 Months Ended
Jul. 31, 2013
Operating Results of Discontinued Operations

The following table summarizes the results of discontinued operations:

 

           2013                  2012                 2011        

Discontinued Operations:

        

Net sales

    $ 448,385       $ 444,862      $ 415,066   
       

Operating income of discontinued operations

    $ 12,080       $ 15,303      $ 12,303   

Gain on involuntary conversion

      –         –        9,417   

Impairment charges

      11,525         –        1,430   

Income tax benefit (expense)

      631         (4,999 )      (5,664 ) 
  

 

 

     

 

 

    

 

 

  

Income from discontinued operations, net of taxes

    $ 1,186       $ 10,304      $ 14,626   
  

 

 

     

 

 

    

 

 

  
Assets and Liabilities of Discontinued Operations

The following is a summary of the assets and liabilities of discontinued operations, excluding cash, which are held for sale as of July 31, 2013:

 

Accounts and other receivable, net

    $ 29,894   

Inventories, net of LIFO reserve of $9,683

      61,800   

Property, plant and equipment, cost

      50,985   

Accumulated depreciation, property, plant and equipment

      (21,422 ) 

Goodwill

      5,559   

Other intangibles, net

      3,743   

Deferred income taxes and other assets

      2,540   

Deferred compensation plan assets

      3,407   
  

 

 

  

Assets of discontinued operations

    $ 136,506   
  

 

 

  

Accounts payable

    $ 23,427   

Accrued compensation and related items

      3,130   

Product warranties

      3,891   

Deferred income taxes and other liabilities

      1,252   

Deferred compensation plan liabilities

      3,407   
  

 

 

  

Liabilities of discontinued operations

    $       35,107