Income Taxes (Tables)

12 Months Ended

Jul. 31, 2011

Income Taxes

Schedule Of Components Of Provision (Benefit) For Income Taxes

	July 31,		July 31,		July 31,
Income Taxes:	2011		2010		2009
Federal	$	48,943	$	55,462	$	(2,563)
State and local		250		9,337		3,304
Foreign		–		(11)		(900)
Total current expense (benefit)		49,193		64,788		(159)
Federal		(2,989)		(3,430)		6,163
State and local		150		(29)		248
Total deferred expense (benefit)		(2,839)		(3,459)		6,411
Total income tax expense	$	46,354	$	61,329	$	6,252

Schedule Of Components Of The Total Current Income Tax Expense

	July 31, 2011		July 31, 2010		July 31, 2009
Federal tax expense at statutory rates	$	53,420	$	59,988	$	8,188
State tax expense at various state tax rates (net of federal benefit)		956		5,153		738
Current tax expense effect of accrued product warranties		1,698		3,622		(7,253)
Current tax expense effect of other temporary items		1,989		(407)		842
Income tax credits and incentives		(2,421)		(1,069)		(3,669)
Amended returns and tax exam settlements		–		–		(1,022)
Domestic production activities deduction		(5,236)		(3,745)		(420)
Executive compensation limitation		–		1,578		–
Goodwill impairment		–		–		3,707
Tax-exempt interest		(8)		(55)		(444)
Change in uncertain tax positions		(1,426)		(1,931)		1,271
True-up of current tax payable		(1,169)		807		(2,308)
Other permanent items		1,390		847		211
Total Current Income Taxes	$	49,193	$	64,788	$	(159)

Schedule Of Differences Between Income Taxes At Federal Statutory Rate And Actual Income Taxes

	July 31, 2011		July 31, 2010		July 31, 2009
Provision at federal statutory rate	$	53,420	$	59,988	$	8,188
State and local income taxes, net of federal benefit		978		5,124		738
Income tax credits and incentives		(2,421)		(1,069)		(3,669)

Amended returns and tax exam settlements		–		–		(1,022)
Domestic production activities deduction		(5,236)		(3,745)		(420)
Change in uncertain tax positions		(1,124)		(278)		1,271
Goodwill impairment		–		–		3,707
Executive compensation limitation		–		1,578		–
Reduction of excess current tax payable and deferred tax liabilities		(645)		(1,061)		(2,308)
Tax-exempt interest		(8)		(55)		(444)
Other permanent items		1,390		847		211
Income Taxes	$	46,354	$	61,329	$	6,252

Schedule Of Deferred Income Taxes

A summary of deferred income taxes is as follows:	July 31,			July 31,
	2011			2010
Current deferred tax asset (liability):
Inventory basis		$	(251)		$	(715)
Employee benefits			3,102			2,506
Self-insurance reserves			8,036			10,077
Accrued product warranties			24,443			19,629
Accrued incentives			2,948			2,538
Sales returns and allowances			1,231			1,269
Accrued expenses			2,938			1,088
Unrecognized tax benefits			597			2,406
Other			(1,456)			701
Total current net deferred tax asset		$	41,588		$	39,499
Long-term deferred tax asset (liability):
Property basis			(5,166)			(1,552)
Investments			(898)			(1,330)
Deferred compensation			4,836			3,719
Intangibles			(37,513)			(5,436)
Unrecognized tax benefits			13,882			11,795
Total net long-term deferred tax asset (liability)			(24,859)			7,196
Net deferred tax asset		$	16,729		$	46,695

Schedule Of Changes In Unrecognized Tax Benefit

	2011 Unrecognized Tax Benefit			2010 Unrecognized Tax Benefit			2009 Unrecognized Tax Benefit
Beginning balance		$	31,039		$	30,235		$	21,032
Increase in liability due to federal benefit			–			–			11,031
Tax positions related to prior years:
Additions			1,817			760			1,880
Reductions			(1,062)			(1,883)			–
Tax positions related to current year:
Additions			3,713			4,095			622
Reductions			–			–			–
Settlements			(2,642)			(817)			(3,002)
Lapses in statute of limitations			(691)			(1,351)			(1,328)
Ending balance		$	32,174		$	31,039		$	30,235