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Income Taxes (Tables) | 12 Months Ended
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Jul. 31, 2018
Income Tax Disclosure [Abstract] |
Schedule of (Loss) Earnings from Continuing Operations | Earnings before income taxes consists of the following:
|  | Years Ended July 31,
|  | 2018 |  | 2017 |  | 2016
United States |  | $ | 48,903 |  |  | $ | 43,561 |  |  | $ | 61,349 |
Other Nations |  | 103,112 |  |  | 83,071 |  |  | 47,996 |
Total |  | $ | 152,015 |  |  | $ | 126,632 |  |  | $ | 109,345 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense consists of the following:
|  | Years Ended July 31,
|  | 2018 |  | 2017 |  | 2016
Current income tax expense: |  |  |  |  |  |
United States |  | $ | 2,830 |  |  | $ | 15,279 |  |  | $ | 5,048 |
Other Nations |  | 26,593 |  |  | 23,826 |  |  | 19,929 |
States (U.S.) |  | 910 |  |  | 1,163 |  |  | 1,348 |
|  | $ | 30,333 |  |  | $ | 40,268 |  |  | $ | 26,325 |
Deferred income tax (benefit) expense: |  |  |  |  |  |
United States |  | $ | 30,267 |  |  | $ | (8,173 | ) |  | $ | 3,946 |
Other Nations |  | (1,462 | ) |  | (1,329 | ) |  | (1,387 | )
States (U.S.) |  | 1,817 |  |  | 221 |  |  | 351 |
|  | $ | 30,622 |  |  | $ | (9,281 | ) |  | $ | 2,910 |
Total income tax expense |  | $ | 60,955 |  |  | $ | 30,987 |  |  | $ | 29,235 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences are as follows as of July 31, 2018 and 2017:
|  | July 31, 2018
|  | Assets |  | Liabilities |  | Total
Inventories |  | $ | 3,095 |  |  | $ | (53 | ) |  | $ | 3,042 |
Prepaid catalog costs |  | — |  |  | (978 | ) |  | (978 | )
Employee benefits |  | 3,772 |  |  | (91 | ) |  | 3,681 |
Accounts receivable |  | 828 |  |  | (1 | ) |  | 827 |
Fixed assets |  | 2,959 |  |  | (4,911 | ) |  | (1,952 | )
Intangible assets |  | 1,073 |  |  | (29,630 | ) |  | (28,557 | )
Deferred and equity-based compensation |  | 10,656 |  |  | — |  |  | 10,656 |
Postretirement benefits |  | 3,280 |  |  | — |  |  | 3,280 |
Tax credit and net operating loss carry-forwards |  | 64,348 |  |  | — |  |  | 64,348 |
Less valuation allowance |  | (56,866 | ) |  | — |  |  | (56,866 | )
Other, net |  | 8,548 |  |  | (8,962 | ) |  | (414 | )
Total |  | $ | 41,693 |  |  | $ | (44,626 | ) |  | $ | (2,933 | )
|  | July 31, 2017
|  | Assets |  | Liabilities |  | Total
Inventories |  | $ | 4,516 |  |  | $ | (1 | ) |  | $ | 4,515 |
Prepaid catalog costs |  | — |  |  | (1,107 | ) |  | (1,107 | )
Employee benefits |  | 8,932 |  |  | — |  |  | 8,932 |
Accounts receivable |  | 1,141 |  |  | (11 | ) |  | 1,130 |
Fixed assets |  | 2,819 |  |  | (3,884 | ) |  | (1,065 | )
Intangible assets |  | 1,187 |  |  | (37,681 | ) |  | (36,494 | )
Deferred and equity-based compensation |  | 16,743 |  |  | — |  |  | 16,743 |
Postretirement benefits |  | 4,144 |  |  | — |  |  | 4,144 |
Tax credit and net operating loss carry-forwards |  | 70,128 |  |  | — |  |  | 70,128 |
Less valuation allowance |  | (38,563 | ) |  | — |  |  | (38,563 | )
Other, net |  | 12,630 |  |  | (10,798 | ) |  | 1,832 |
Total |  | $ | 83,677 |  |  | $ | (53,482 | ) |  | $ | 30,195 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the tax computed by applying the statutory U.S. federal income tax rate to earnings from continuing operations before income taxes to the total income tax expense is as follows:
|  | Years Ended July 31,
|  | 2018 |  | 2017 |  | 2016
Tax at statutory rate |  | 26.9 | % |  | 35.0 | % |  | 35.0 | %
State income taxes, net of federal tax benefit |  | 1.6 | % |  | 1.0 | % |  | 0.8 | %
International rate differential |  | (1.1 | )% |  | (6.3 | )% |  | 0.4 | %
Rate variances arising from foreign subsidiary distributions(1) |  | 0.8 | % |  | (5.9 | )% |  | 0.5 | %
Foreign tax credit carryforward valuation allowance(2) |  | 14.1 | % |  | — | % |  | — | %
Divestiture of business(3) |  | (0.8 | )% |  | — | % |  | — | %
Adjustments to tax accruals and reserves(4) |  | 2.2 | % |  | 3.6 | % |  | (3.7 | )%
Research and development tax credits and domestic manufacturer’s deduction |  | (2.0 | )% |  | (1.8 | )% |  | (3.6 | )%
Deferred tax and other adjustments, net |  | (1.6 | )% |  | (1.1 | )% |  | (2.7 | )%
Effective tax rate |  | 40.1 | % |  | 24.5 | % |  | 26.7 | %
(1) | The year ended July 31, 2017, includes the generation of foreign tax credit carryforwards from cash repatriations that occurred during the fiscal year.
(2) | The year ended July 31, 2018, includes the establishment of a valuation allowance against foreign tax credit carryforwards as a result of the Tax Reform Act.
(3) | The year ended July 31, 2018, includes the divestiture of the Company's Runelandhs business based in Sweden. Refer to Note 13 - Divestitures for additional information.
(4) | The years ended July 31, 2018 and 2017, include increases in current year uncertain tax positions, while the year ended July 31, 2016, includes reductions of uncertain tax positions resulting from the closure of audits and lapses in statutes of limitations.
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of unrecognized tax benefits (excluding interest and penalties) is as follows:
Balance at July 31, 2015 | $ | 21,133 |
Additions based on tax positions related to the current year | 3,093 |
Additions for tax positions of prior years | 1,290 |
Reductions for tax positions of prior years | (9,369 | )
Lapse of statute of limitations | (344 | )
Settlements with tax authorities | (456 | )
Cumulative Translation Adjustments and other | (53 | )
Balance as of July 31, 2016 | $ | 15,294 |
Additions based on tax positions related to the current year | 2,500 |
Additions for tax positions of prior years | 1,124 |
Reductions for tax positions of prior years | (62 | )
Lapse of statute of limitations | (663 | )
Settlements with tax authorities | (118 | )
Cumulative Translation Adjustments and other | 287 |
Balance as of July 31, 2017 | $ | 18,362 |
Additions based on tax positions related to the current year | 2,467 |
Additions for tax positions of prior years | 1,586 |
Reductions for tax positions of prior years | (23 | )
Lapse of statute of limitations | (489 | )
Settlements with tax authorities | (1,277 | )
Cumulative Translation Adjustments and other | (196 | )
Balance as of July 31, 2018 | $ | 20,430 |
Schedule of Open Tax Years by Major Jurisdictions | Company and its subsidiaries file income tax returns in the U.S., various state, and foreign jurisdictions. The following table summarizes the open tax years for the Company's major jurisdictions:
Jurisdiction |  | Open Tax Years
United States — Federal |  | F’15 — F’18
France |  | F’15 — F’18
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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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