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Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2022

Fair Value Disclosures [Abstract]

Summary Of Cash Equivalents Measured At Fair Value

The table below summarizes the Company’s cash equivalents, other current assets, interest rate swaps and Contingent Consideration (defined below) measured at estimated fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands).

						Estimated Fair Value Measurement as of October 31, 2022
Description						Total						Level 1						Level 2						Level 3
Assets:
Money Market						$	509,165					$	509,165					$	—					$	—
Commercial Paper						$	2,401					$	—					$	2,401					$	—
Certificates of Deposit						$	106,790					$	—					$	106,790					$	—
Interest Rate Swaps						$	22,991					$	—					$	22,991					$	—
Liabilities:
Contingent Consideration						$	24,100					$	—					$	—					$	24,100
						Estimated Fair Value Measurement as of July 31, 2022
Description						Total						Level 1						Level 2						Level 3
Assets:
Money Market						$	505,901					$	505,901					$	—					$	—
Commercial Paper						$	2,401					$	—					$	2,401					$	—
Certificates of Deposit						$	9,473					$	—					$	9,473					$	—
Interest Rate Swaps						$	12,301					$	—					$	12,301					$	—
Liabilities:
Contingent Consideration						$	42,400					$	—					$	—					$	42,400
						Estimated Fair Value Measurement as of October 31, 2021
Description						Total						Level 1						Level 2						Level 3
Assets:
Money Market						$	504,064					$	504,064					$	—					$	—
Commercial Paper						$	2,401					$	—					$	2,401					$	—
Certificates of Deposit						$	9,984					$	—					$	9,984					$	—
Liabilities:
Interest Rate Swaps						$	5,348					$	—					$	5,348					$	—
Contingent Consideration						$	24,100					$	—					$	—					$	24,100

The Company’s cash equivalents, other current assets and interest rate swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. The estimated fair value of the interest rate swaps are included within other assets on the Company’s Consolidated Condensed Balance Sheet as of October 31, 2022 and July 31, 2022, and included within other long-term liabilities as of October 31, 2021.

The changes in Contingent Consideration during the three months ended October 31, 2022 and 2021 were as follows (in thousands):

Balance as of July 31, 2022 and 2021, respectively						$	42,400					$	29,600
Payments						(18,936)						(7,500)
Change in estimated fair value						636						2,000
Balance as of October 31, 2022 and 2021, respectively						$	24,100					$	24,100

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- References

No definition available.

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