Fire at Bus Production Facility (Tables)

12 Months Ended

Jul. 31, 2012

Schedule of Gain On Involuntary Conversion

For the years ended July 31, 2011 and 2010, a gain on involuntary conversion of $9,417 and $7,593, respectively, was reported in the Company’s Consolidated Statements of Income and Comprehensive Income as follows:

	Year Ended July 31, 2011		Year Ended July 31, 2010		Cumulative Total Since Fire
Insurance recoveries recognized	$	10,437	$	18,079	$	28,516
Deductible		–		(5,000)		(5,000)
Work in process and raw material destroyed		–		(4,305)		(4,305)
Property and equipment destroyed		(165)		(578)		(743)
Clean-up and other costs		(855)		(603)		(1,458)
Gain on involuntary conversion	$	9,417	$	7,593	$	17,010