Contingent Liabilities and Commitments (Tables)

12 Months Ended

Jul. 31, 2013

Principal Commercial Commitments under Repurchase Agreements and Dealer Inventory Financing Guarantees

Our principal commercial commitments under repurchase agreements and dealer inventory financing guarantees at July 31, 2013 and 2012 are summarized in the following chart:


	Total Amount Committed					Term of
		July 31, 2013		July 31, 2012		Commitments
Commitment
Guarantee on dealer financing		$	375	$	900	Various
Standby repurchase obligation on dealer financing		$	1,027,567	$	861,738	Up to eighteen months

Losses Due to Repurchases Under Repurchase Agreements

The table below reflects losses incurred under repurchase agreements for the past three fiscal years. Management believes that any future losses under these agreements will not have a significant effect on the Company’s consolidated financial position or results of operations.


	Fiscal 2013		Fiscal 2012		Fiscal 2011
Cost of units repurchased		$ 6,926		$ 2,881		$ 5,876
Realization of units resold		6,020		2,521		5,023
Losses due to repurchase		$ 906		$ 360		$ 853