-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LLDIk6b+uvS6LmFqy6S0enTnpTfQQKz8/8xrsXoPD0IVrgWLjPUlrkHUUzcnIajI EiKv30NcksXKAVRNA7Yqcw== 0000950123-10-113031.txt : 20101213 0000950123-10-113031.hdr.sgml : 20101213 20101213110000 ACCESSION NUMBER: 0000950123-10-113031 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20101031 FILED AS OF DATE: 20101213 DATE AS OF CHANGE: 20101213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRADY CORP CENTRAL INDEX KEY: 0000746598 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 390178960 STATE OF INCORPORATION: WI FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-14959 FILM NUMBER: 101247037 BUSINESS ADDRESS: STREET 1: 6555 W GOOD HOPE RD STREET 2: P O BOX 571 CITY: MILWAUKEE STATE: WI ZIP: 53201-0571 BUSINESS PHONE: 4143586600 FORMER COMPANY: FORMER CONFORMED NAME: BRADY W H CO DATE OF NAME CHANGE: 19920703 10-Q/A 1 c09549e10vqza.htm FORM 10-Q/A Form 10-Q/A
 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q/A
Amendment No. 1
     
þ   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended October 31, 2010
OR
     
o   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from                      to                     
Commission File Number 1-14959
BRADY CORPORATION
(Exact name of registrant as specified in its charter)
     
Wisconsin   39-0178960
     
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification No.)
6555 West Good Hope Road, Milwaukee, Wisconsin 53223
(Address of principal executive offices)
(Zip Code)
(414) 358-6600
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
             
Large accelerated filer þ   Accelerated filer o   Non-accelerated filer o   Smaller reporting company o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
As of December 2, 2010, there were outstanding 49,031,965 shares of Class A Nonvoting Common Stock and 3,538,628 shares of Class B Voting Common Stock. The Class B Voting Common Stock, all of which is held by affiliates of the Registrant, is the only voting stock.
 
 

 

 


 

Explanatory Note
This amended report on Form 10-Q/A (the “Amended Report”) is being filed to correct discrepancies in the interactive data files furnished as Exhibit 101 to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 31, 2010 (the “Original Report”). During the Company’s post-filing review of the XBRL (Extensible Business Reporting Language) information contained in Exhibit 101 to the Original Report, it noted discrepancies in the Condensed Consolidated Statements of Income (Percentage Change). The percentage change for each of the financial statement line items presented in the Condensed Consolidated Statements of Income (Percentage Change) in Exhibit 101 to the Original Report were inadvertently multiplied by a factor of 100. The Company has corrected the Condensed Consolidated Statements of Income (Percentage Change) portion of the XBRL data furnished as Exhibit 101 to this Amended Report. The remainder of the interactive data files, which were correctly stated in the Original Report, are also included in Exhibit 101 being furnished with this Amended Report.
No other changes have been made to the contents of the Original Report. The Amended Report does not reflect subsequent events occurring after the original filing date of the Original Report or modify or update in any way the disclosures made in the Original Report.
Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.
ITEM 6.  
Exhibits
(a)  
Exhibits
       
  31.1 **  
Rule 13a-14(a)/15d-14(a) Certification of Frank M. Jaehnert
  31.2 **  
Rule 13a-14(a)/15d-14(a) Certification of Thomas J. Felmer
  32.1 *  
Section 1350 Certification of Frank M. Jaehnert
  32.2 *  
Section 1350 Certification of Thomas J. Felmer
  101 **  
Interactive Data Files
 
     
*  
Previously filed on December 7, 2010, as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 31, 2010.
 
**  
Furnished with this report.

 

2


 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
         
 
  BRADY CORPORATION    
 
       
Date: December 13, 2010
  /s/ THOMAS J. FELMER
 
Thomas J. Felmer
   
 
  Senior Vice President & Chief Financial Officer    
 
  (Principal Financial Officer)    

 

3

EX-31.1 2 c09549exv31w1.htm EXHIBIT 31.1 Exhibit 31.1
EXHIBIT 31.1
RULE 13a-14(a)/15d-14(a) CERTIFICATION
I, Frank M. Jaehnert, certify that:
(1) I have reviewed this quarterly report on Form 10-Q/A of Brady Corporation; and
(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
Date: December 13, 2010
     
/s/ FRANK M. JAEHNERT
 
Frank M. Jaehnert
   
President and Chief Executive Officer
   

 

 

EX-31.2 3 c09549exv31w2.htm EXHIBIT 31.2 Exhibit 31.2
EXHIBIT 31.2
RULE 13a-14(a)/15d-14(a) CERTIFICATION
I, Thomas J. Felmer, certify that:
(1) I have reviewed this quarterly report on Form 10-Q/A of Brady Corporation; and
(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material act necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
Date: December 13, 2010
     
/s/ THOMAS J. FELMER
 
Thomas J. Felmer
   
Senior Vice President and Chief Financial Officer
   

 

 

EX-101.INS 4 brc-20101031.xml EX-101 INSTANCE DOCUMENT 0000746598 us-gaap:CommonClassBMember 2010-10-31 0000746598 us-gaap:NonvotingCommonStockMember 2010-10-31 0000746598 us-gaap:NonvotingCommonStockMember 2010-07-31 0000746598 us-gaap:CommonClassBMember 2010-07-31 0000746598 us-gaap:CommonClassBMember 2009-08-01 2009-10-31 0000746598 us-gaap:NonvotingCommonStockMember 2009-08-01 2009-10-31 0000746598 2009-07-31 0000746598 2009-10-31 0000746598 2009-01-30 0000746598 us-gaap:NonvotingCommonStockMember 2010-12-02 0000746598 us-gaap:CommonClassBMember 2010-12-02 0000746598 2010-10-31 0000746598 2010-07-31 0000746598 2009-08-01 2009-10-31 0000746598 us-gaap:NonvotingCommonStockMember 2010-08-01 2010-10-31 0000746598 us-gaap:CommonClassBMember 2010-08-01 2010-10-31 0000746598 2010-08-01 2010-10-31 iso4217:USD xbrli:shares xbrli:pure xbrli:shares iso4217:USD <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 1 - us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock--> <div align="left" style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <!-- xbrl,ns --> <!-- xbrl,nx --> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> <div align="left"> </div> <div align="center" style="font-size: 10pt"></div> <div align="center" style="font-size: 10pt"> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE A &#8212; Basis of Presentation </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The condensed consolidated financial statements included herein have been prepared by Brady Corporation and subsidiaries (the &#8220;Company&#8221; or &#8220;Brady&#8221;) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. 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margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE E &#8212; Segment Information </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company evaluates short-term segment performance based on segment profit or loss and customer sales. Corporate long-term performance is evaluated based on shareholder value enhancement (&#8220;SVE&#8221;), which incorporates the cost of capital as a hurdle rate for capital expenditures, new product development, and acquisitions. Segment profit or loss does not include certain administrative costs, such as the cost of finance, information technology and human resources, which are managed as global functions. Restructuring charges, stock options, interest, investment and other income and income taxes are also excluded when evaluating performance. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company is organized and managed on a geographic basis by region. Each of these regions, Americas, Europe and Asia-Pacific, has a President that reports directly to the Company&#8217;s chief operating decision maker, its Chief Executive Officer. 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Additionally, the Company has a nonqualified stock option plan for non-employee directors under which stock options to purchase shares of Class&#160;A Nonvoting Common Stock are available for grant. The stock options have an exercise price equal to the fair market value of the underlying stock at the date of grant and generally vest ratably over a three-year period, with one-third becoming exercisable one year after the grant date and one-third additional in each of the succeeding two years. Stock options issued under these plans, referred to herein as &#8220;service-based&#8221; stock options, generally expire 10&#160;years from the date of grant. The Company also grants stock options to certain executives and key management employees that vest upon meeting certain financial performance conditions over the vesting schedule described above; these options are referred to herein as &#8220;performance-based&#8221; stock options. 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The restricted shares vest at the end of a five-year period, with respect to the restricted shares issued in fiscal 2008, and ratably at the end of years 3, 4 and 5 with respect to the restricted shares issued in fiscal 2011, and upon meeting certain financial performance conditions; these shares are referred to herein as &#8220;performance-based restricted shares.&#8221; </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">As of October&#160;31, 2010, the Company has reserved 6,239,135 shares of Class&#160;A Nonvoting Common Stock for outstanding stock options and restricted shares and 732,000 shares of Class&#160;A Nonvoting Common Stock remain for future issuance of stock options and restricted shares under the various plans. 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Expected volatilities are based on the historical volatility of the Company&#8217;s stock. The expected dividend yield is based on the Company&#8217;s historical dividend payments and historical yield. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the grant date for the length of time corresponding to the expected term of the option. The market value is obtained by taking the average of the high and the low stock price on the date of the grant. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company granted 100,000 shares of performance-based restricted stock to Frank M. Jaehnert, the Company&#8217;s President and Chief Executive Officer, in August of 2010, with a grant price and fair value of $28.35. The Company also granted 210,000 shares of performance-based restricted stock during fiscal 2008, with a grant price and fair value of $32.83. 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The share repurchase plans were implemented by purchasing shares in the open market or privately negotiated transactions, with repurchased shares available for use in connection with the Company&#8217;s stock-based plans and for other corporate purposes. The Company reacquired approximately 102,067 shares of its Class&#160;A Common Stock for $2.5&#160;million in fiscal 2010 in connection with its stock repurchase plans. No shares were reacquired during the three months ended October&#160;31, 2010. As of October&#160;31, 2010, there remained 204,133 shares to purchase in connection with this share repurchase plan. </div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 8 - us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock--> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE H &#8212; Employee Benefit Plans </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company provides postretirement medical, dental and vision benefits for eligible regular full and part-time domestic employees (including spouses) outlined by the plan. Postretirement benefits are provided only if the employee was hired prior to April&#160;1, 2008, and retires on or after attainment of age 55 with 15&#160;years of credited service. Credited service begins accruing at the later of age 40 or date of hire. All active employees first eligible to retire after July&#160;31, 1992, are covered by an unfunded, contributory postretirement healthcare plan where employer contributions will not exceed a defined dollar benefit amount, regardless of the cost of the program. Employer contributions to the plan are based on the employee&#8217;s age and service at retirement. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company funds benefit costs on a pay-as-you-go basis. 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<!-- Folio --> <!-- /Folio --> </div> <!-- PAGEBREAK --> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The following methods and assumptions were used to estimate the fair value of each class of financial instrument: </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Trading Securities: </i>The Company&#8217;s deferred compensation investments consist of investments in mutual funds. These investments were classified as Level 1 as the shares of these investments trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Foreign currency exchange contacts: </i>The Company&#8217;s foreign currency exchange contracts were classified as Level 2, as the fair value was based on the present value of the future cash flows using external models that use observable inputs, such as interest rates, yield curves and foreign currency exchange rates. See Note K, &#8220;Derivatives and Hedging Activities&#8221; for additional information. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Foreign currency denominated debt &#8212; net investment hedge: </i>The Company&#8217;s foreign currency denominated debt designated as a net investment hedge was classified as Level 2, as the fair value was based on the present value of the future cash flows using external models that use observable inputs, such as interest rates, yield curves and foreign currency exchange rates. See Note K, &#8220;Derivatives and Hedging Activities&#8221; for additional information. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">There have been no transfers of assets or liabilities between the fair value hierarchy levels, outlined above, during the three months ended October&#160;31, 2010. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company&#8217;s financial instruments, other than those presented in the disclosures above, include cash, notes receivable, accounts receivable, accounts payable, accrued liabilities and short-term and long-term debt. 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margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE K &#8212; Derivatives and Hedging Activities </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company utilizes forward foreign exchange currency contracts to reduce the exchange rate risk of specific foreign currency denominated transactions. These contracts typically require the exchange of a foreign currency for U.S. dollars at a fixed rate at a future date, with maturities of less than 12&#160;months, which qualify as cash flow hedges under the accounting guidance for derivative instruments and hedging activities. The primary objective of the Company&#8217;s foreign currency exchange risk management is to minimize the impact of currency movements due to products purchased in other than the respective subsidiaries&#8217; functional currency. To achieve this objective, the Company hedges a portion of known exposures using forward foreign exchange currency contracts. As of October&#160;31, 2010 and July&#160;31, 2010, the notional amount of outstanding forward exchange contracts was $24,987 and $45,328, respectively. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Hedge effectiveness is determined by how closely the changes in the fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged item. Hedge accounting is permitted only if the hedging relationship is expected to be highly effective at the inception of the hedge and on an on-going basis. Gains or losses on the derivative related to hedge ineffectiveness are recognized in current earnings. The amount of hedge ineffectiveness was not significant for the quarters ended October&#160;31, 2010 and 2009. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company hedges a portion of known exposure using forward exchange contracts. Main exposures are related to transactions denominated in the British Pound, the Euro, Canadian Dollar, Australian Dollar, Singapore Dollar, Swedish Krona, Danish Krone, Japanese Yen, Swiss Franc, and the Korean Won. Generally, these risk management transactions will involve the use of foreign currency derivatives to protect against exposure resulting from sales and identified inventory or other asset purchases. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company has designated a portion of its foreign exchange contracts as cash flow hedges and recorded these contracts at fair value on the Condensed Consolidated Balance Sheets. For these instruments, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (&#8220;OCI&#8221;) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. At October&#160;31, 2010 and July&#160;31, 2010, unrealized losses of $185 and $493 have been included in OCI, respectively. All balances are expected to be reclassified from OCI to earnings during the next twelve months when the hedged transactions impact earnings. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">At October&#160;31, 2010 and July&#160;31, 2010, the Company had $185 and $156 of forward exchange contracts designated as cash flow hedges included in &#8220;Prepaid expenses and other current assets&#8221; on the accompanying Condensed Consolidated Balance Sheets. At October&#160;31, 2010 and July&#160;31, 2010, the Company had $1,461 and $829 respectively, of forward exchange contracts designated as hedge instruments included in &#8220;Other current liabilities&#8221; on the accompanying Condensed Consolidated Balance Sheets. At October&#160;31, 2010 and July&#160;31, 2010, the U.S. dollar equivalent of these outstanding forward foreign exchange contracts totaled $24,987 and $32,020, respectively, including contracts to sell Euros, Canadian Dollars, Australian Dollars, British Pounds, U.S. Dollars, and Swiss Franc. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On May&#160;13, 2010, the Company completed the private placement of <font style="font-family:'times new roman',times,serif">&#8364;</font>75.0&#160;million aggregate principal amount of senior unsecured notes to accredited institutional investors. This Euro-denominated debt obligation was designated as a net investment hedge to selectively hedge portions of its net investment in European foreign operations. As net investment hedges, the currency effects of the debt obligations are reflected in the foreign currency translation adjustments component of accumulated other comprehensive income where they offset gains and losses recorded on the Company&#8217;s net investment in European operations. The Company&#8217;s foreign denominated debt obligations are valued under a market approach using publicized spot prices. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Additionally, during fiscal 2010, the Company used forward foreign exchange currency contracts designated as hedge instruments to hedge portions of the Company&#8217;s net investments in European foreign operations. For hedges that meet the effectiveness requirements, the net gains or losses attributable to changes in spot exchange rates are recorded in cumulative translation within other comprehensive income. Any ineffective portions are to be recognized in earnings. Recognition in earnings of amounts previously recorded in cumulative translation is limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. 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This guidance requires that all outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends be considered participating securities in undistributed earnings with common shareholders. The Company adopted the guidance during the first quarter of fiscal 2010. 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The amortization over each of the next five fiscal years is projected to be $20,808, $13,645, $10,340, $5,395 and $5,001 for the years ending July&#160;31, 2011, 2012, 2013, 2014 and 2015, respectively. </div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDiscloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and writte n off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. Fo r each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. 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Postretirement benefits are provided only if the employee was hired prior to April&#160;1, 2008, and retires on or after attainment of age 55 with 15&#160;years of credited service. Credited service begins accruing at the later of age 40 or date of hire. All active employees first eligible to retire after July&#160;31, 1992, are covered by an unfunded, contributory postretirement healthcare plan where employer contributions will not exceed a defined dollar benefit amount, regardless of the cost of the program. Employer contributions to the plan are based on the employee&#8217;s age and service at retirement. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company funds benefit costs on a pay-as-you-go basis. There have been no changes to the components of net periodic benefit cost or the amount that the Company expects to fund in fiscal 2011 from those reported in Note 3 to the consolidated financial statements included in the Company&#8217;s latest annual report on Form 10-K for the year ended July&#160;31, 2010. </div> <!-- Folio --> <!-- /Folio --> </div> <!-- PAGEBREAK --> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescription containing the entire pension and other postretirement benefits disclosure as a single block of text.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS106-2 -Paragraph 20, 21, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5, 6, 7, 8 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 87 -Paragraph 264 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Implementation Guide (Q and A) -Number FAS88 -Paragraph 63 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7, 21, 22 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph b Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 30 -Paragraph 26 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 106 -Paragraph 518 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-2 -Paragraph 8 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 8 -Subparagraph m Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph h Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph a Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph q falsefalse12Employee Benefit PlansUnKnownUnKnownUnKnownUnKnownfalsetrue ZIP 17 0000950123-10-113031-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000950123-10-113031-xbrl.zip M4$L#!!0````(``M8C3VVRV[]0UT``-6K!``0`!P`8G)C+3(P,3`Q,#,Q+GAM M;%54"0`#%D,&319#!DUU>`L``00E#@``!#D!``#L/6MSVS:VW^_,_0]8M=M- M9BB+E&19LIWLR(^D:1/'$SNWW4\9B(0D-!3!$*1M[:^_YP`D1=F2;,MZD"H[ M.UF9!('S?@`'P/&_[T8NN6&!Y,)[4['VS`IAGBT<[@W>5")9I=+FO/+OM__[ M/\?_J%;)GR=?/I+WS&,!#9E#;GDX5,\^T>`[.17^.."#84A>G;XFO3$Y$;<> M(Q\\>X]4JTD7)U3"E\+3?=7WK/C=72]P"4#CR3>581CZA[7:[>WM'C[>$\&@ M5C?-1HU[,J2>S2JZY:'+O>\+FN/K'HR7-+][T/ZVH5I;G4ZGIMXF37N!G3;L M!=09VR+P]VPQ@IXMLPK_:UA)6RY%LVX=+();MT@^`,(.*/73#U3C2-;BY_A- MIVI:F2&P!7\&8?"MPZ<'B!NW:OIEVE3R622!EE;MST\?K^PA&]'J_0$*R(?AV&=O*I*/?!=[5,^&`>N_J0#=JTAARVQ8 M>W?2J9":[@=EYU1X(;L+R16S0Q!8+3GPSHZ?<^=-Y82Z"&=7?NY_:UB?[1![ M^W8J1B/A?3MUJ93?3KY]8J,>"S2$\#WS0AZ.X[_@;^[@DSYG`5&0LRD"26;O M#<1-[?3#[Y6W)OQWT&SM=]K'MG^B.CFLS^Y]`5)L&Z;@V MA?VQSP(NG`PM%./#MQ.Q/ZXESY(>,M\;!R3I76;ON.I(YBD1+M["F2!3%]PE\G6CQROE:.I$"\;$;#3#D M4XP#!D)/U5S8XPV1XA_5ZE>/IY/SR=Q\A,^0/%^OSLXOKU)J./P&,)D,CNTN MHA&N+(D@*WKA1,<_J8!?#,7H!@#[J82\QL M#[CD^3$!?4FUW0P8`ZY$"%+VR3:_CD84(__EV('I\*3 MPN6.^J/K.9>``_2O_OS8`J2JCAR5E4T*_N[K_*0&8# M+N#EIF"3_+_LD%BF'Z8`A,*'\?UP>G34RH4H/[GU8C!4/ROHXDF@_!5)L/CC MIY$D[?KB\_4YZ9)?Z,@_^JE=M^I'N/C.)1%]DI6E]8!P1%!%J]Q#=W5(FO]4 M,%T/&6HO/,,J`#N5[480$Y$A"QAHSY#>,-)CS"-^P'PP M@(XJ-,`%>@7UJ0A\$2BT"/4<(J.>Y`ZG`0>)?A7"Z`DYZN811"$^]<;I$^N( MB"#;0/6;>?U:53R(*"0T`8E4X\V1RIY.L8D<,A;&^"#$,_H#@I/Y>QLKLCB<6$]&; 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<!-- Folio --> <!-- /Folio --> </div> <!-- PAGEBREAK --> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The following methods and assumptions were used to estimate the fair value of each class of financial instrument: </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Trading Securities: </i>The Company&#8217;s deferred compensation investments consist of investments in mutual funds. These investments were classified as Level 1 as the shares of these investments trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Foreign currency exchange contacts: </i>The Company&#8217;s foreign currency exchange contracts were classified as Level 2, as the fair value was based on the present value of the future cash flows using external models that use observable inputs, such as interest rates, yield curves and foreign currency exchange rates. See Note K, &#8220;Derivatives and Hedging Activities&#8221; for additional information. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Foreign currency denominated debt &#8212; net investment hedge: </i>The Company&#8217;s foreign currency denominated debt designated as a net investment hedge was classified as Level 2, as the fair value was based on the present value of the future cash flows using external models that use observable inputs, such as interest rates, yield curves and foreign currency exchange rates. See Note K, &#8220;Derivatives and Hedging Activities&#8221; for additional information. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">There have been no transfers of assets or liabilities between the fair value hierarchy levels, outlined above, during the three months ended October&#160;31, 2010. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company&#8217;s financial instruments, other than those presented in the disclosures above, include cash, notes receivable, accounts receivable, accounts payable, accrued liabilities and short-term and long-term debt. The fair values of cash, accounts receivable, accounts payable, accrued liabilities and short-term debt approximated carrying values because of the short-term nature of these instruments. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The estimated fair value of the Company&#8217;s long-term obligations, based on the quoted market prices for similar issues and on the current rates offered for debt of similar maturities, was $468,780 and $467,479 at October&#160;31, 2010 and July&#160;31, 2010, respectively, as compared to the carrying value of $450,924 and $444,204 at October&#160;31, 2010 and July&#160;31, 2010, respectively. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Disclosures for nonfinancial assets and liabilities that are measured at fair value, but are recognized and disclosed at fair value on a nonrecurring basis, were required prospectively beginning August&#160;1, 2009. During the three months ended October&#160;31, 2010, the Company had no significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition. </div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. 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Disclosure - Restructuringtruefalsefalse1falsefalseUSDfalsefalse8/1/2010 - 10/31/2010 USD ($) $Aug-01-2010_Oct-31-2010http://www.sec.gov/CIK0000746598duration2010-08-01T00:00:002010-10-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$2true0us-gaap_RestructuringChargesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse 3false0us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 10 - us-gaap:RestructuringAndRelatedActivitiesDisclosureTextBlock--> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE J &#8212; Restructuring </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In fiscal 2010, the Company continued the execution of its restructuring actions announced in fiscal 2009. 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As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse9false0brc_NonCashPortionOfRestructuringbrcfalsedebitdurationNon-cash portion of restructuring.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1true< /IsNumeric>falsefalse951000951falsefalsefalsefalsefalse2truefalsefalse288000288falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryNon-cash portion of restructuring.No authoritative reference available.falsefalse10true0us-gaap_IncreaseDecreaseInOperatingCapitalAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse11false0us-gaap_IncreaseDecreaseInAccountsReceivableus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-13614000-13614falsefalsefalsefalsefalse2truefalsefal se-28818000-28818falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse12false0us-gaap_IncreaseDecreaseInInventoriesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-3689000-3689falsefalsefalsefalsefalse2truefalsefalse31440003144falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse13false0us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssetsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefal sefalse10780001078falsefalsefalsefalsefalse2truefalsefalse-657000-657falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in the value of this group of assets within the working capital section.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse14false0brc_IncreaseDecreaseInAccountsPayableAndOtherLiabilitiesbrcfalsedebitdurationIncrease decrease in accounts payable and other liabilities.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel< Cell>1truefalsefalse-16909000-16909falsefalsefalsefalsefalse2truefalsefalse1980100019801falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryIncrease decrease in accounts payable and other liabilities.No authoritative reference available.falsefalse15false0us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayableus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truefalsefalse1024500010245falsefalsefalsefalsefalse2truefalsefalse46260004626falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the period in the amount of cash payments due to taxing authorities for taxes that are based on the reporting entity's earnings.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 truefalse16false0us-gaap_NetCashProvidedByUsedInOperatingActivitiesus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse1615700016157falsefalsefalsefalsefalse2truefalsefalse3383600033836falsefalsefalsefalsefalseMon etaryxbrli:monetaryItemTypemonetaryThe net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse17true0us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1f alsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse18false0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquiredus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalse< IsReverseSign>truenegated1falsefalsefalse00falsefalsefalsefalsefalse2truefalsefalse-1840000-1840falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15, 17 falsefalse19false0us-gaap_PaymentsToAcquirePropertyPlantAndEquipmentus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-2810000-2810falsefalsefalsefalsefalse2truefalsefalse-9001000-9001falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph c falsefalse20false0us-gaap_PaymentsForProceedsFromOtherInvestingActivitiesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegatedtotal1truefalsefalse-908000-908falsefalsefalsefalsefalse2truefalsefalse8000080falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net cash outflow (inflow) from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 truefalse21false0us-gaap_NetCashProvidedByUsedInInvestingActivitiesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse-3718000-3718falsefalsefalsefalsefalse2truefalsefalse-10761000-10761falsefalsefalsefalsefalseMonet aryxbrli:monetaryItemTypemonetaryThe net cash inflow (outflow) from investing activity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse22true0us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1false falsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse23false0us-gaap_PaymentsOfDividendsCommonStockus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetrue negated1truefalsefalse-9424000-9424falsefalsefalsefalsefalse2truefalsefalse-8578000-8578falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph a falsefalse24false0us-gaap_ProceedsFromIssuanceOfCommonStockus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse21050002105falsefalsefalsefalsefalse2truefalsefalse716000716falsefalsefalsefalsefalseMoneta ryxbrli:monetaryItemTypemonetaryThe cash inflow from the additional capital contribution to the entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 19 -Subparagraph a falsefalse25false0us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivitiesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truefalsefalse-146000-146falsefalsefalsefalsefalse2truefalsefalse173000173falsefalsefalsefalsefalse< OriginalInstanceReportColumns />Monetaryxbrli:monetaryItemTypemonetaryReductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph A240 -Subparagraph i Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 00-15 -Paragraph 3 truefalse26false0us-gaap_NetCashProvidedByUsedInFinancingActivitiesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse-7465000-7465falsefalsefalsefalsefalse2truefalsefalse-7689000-7689falsefalsefalsefalsefal seMonetaryxbrli:monetaryItemTypemonetaryThe net cash inflow (outflow) from financing activity for the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse27false0us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truefalsefalse62860006286falsefalsefalsefalsefalse2truefalsefalse40960004096falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe effect of exchange rate changes on cash balances held in foreign currencies.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 25 truefalse28false0us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse1126000011260falsefalsefalsefalsefalse2truefalsefalse1948200019482falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change between the beginning and ending balance of cash and cash equivalents.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse29false0us-gaap_CashAndCashEquivalentsAtCarryingValueus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsetruefalsefalseperiodstartlabel1truefalsefalse314840000314840falsefalsefalsefalsefalse2truefalsefalse188156000188156falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryIncludes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury b ill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7, 26 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 8, 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 falsefalse30false0us-gaap_CashAndCashEquivalentsAtCarryingValueus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsetruefalseperiodendlabel1true< /IsNumeric>falsefalse326100000326100falsefalsefalsefalsefalse2truefalsefalse207638000207638falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryIncludes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasur y bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7, 26 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 8, 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 falsefalse32true0brc_CashPaidDuringPeriodForAbstractbrcfalsenadurationCash paid during the period for.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalseOther xbrli:stringItemTypestringCash paid during the period for.falsefalse33false0us-gaap_InterestPaidNetus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse72110007211falsefalsefalsefalsefalse2truefalsefalse79040007904falsefalsefalse< /DisplayDateInUSFormat>falsefalseMonetaryxbrli:monetaryItemTypemonetaryThe amount of cash paid during the current period for interest owed on money borrowed, net of interest capitalized.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 29 Reference 2: http://www.xbrl.org/2003/role/presentationRef 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falsefalse35true0us-gaap_BusinessAcquisitionPurchasePriceAllocationAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse36false0us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalse2truefalsefalse11040001104falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe amount of acquisition cost of a business combination allocated to assets acquired.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 37 -Subparagraph g falsefalse37false0us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumedus-gaaptruecreditinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1falsefalsefalse00falsefalsefalsefalsefalse2truefalsefalse-42000-42falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe amount of acquisition cost of a business combination allocated to liabilities assumed.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 37 -Subparagraph g Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 98-1 falsefalse38false0us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmountus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1falsefalsefalse00falsefalsefalsefalsefalse2truefalsefalse778000778falsefalsefalsefalsefalse< Unit>Monetaryxbrli:monetaryItemTypemonetaryAmount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 52 -Subparagraph c Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 53 -Subparagraph d truefalse39false0us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNetus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1falsefalsefalse00falsefalsefalsefalsefalse2truefalsefalse18400001840falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe total purchase price of the acquired entity. This includes cash paid to equity interest holders of the acquired entity, fair value of debt and equity securities issued to equity holders of the acquired entity, and transaction costs paid to third parties to consummate the acquisition.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 51 -Subparagraph d Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 35 truefalse236Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)ThousandsUnKnownUnKnownUnKnownfalsetrue XML 23 R5.xml IDEA: Condensed Consolidated Statements of Income (Unaudited) (Percentage Change) 2.2.0.25truefalse0121 - Statement - Condensed Consolidated Statements of Income (Unaudited) (Percentage Change)truefalsefalse1falsefalseUSDfalsefalse8/1/2010 - 10/31/2010 USD ($) 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IDEA: XBRL DOCUMENT Cost of Products Sold Percentage Change. No authoritative reference available. Restructuring Charge Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. Non-cash portion of restructuring. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Other Stockholders Equity. No authoritative reference available. Income Before Income Taxes Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Investment and Other Income Percentage Change Net. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Dividends Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Total Operating Expenses Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. Net Income Percentage Change. No authoritative reference available. Selling General and Administrative Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Operating Income Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Increase decrease in accounts payable and other liabilities. No authoritative reference available. Net Sales Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Research and Development Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Gross Margin Percentage Change. No authoritative reference available. Diluted Net Income Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Income Taxes Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Basic Net Income Percentage Change. No authoritative reference available. Interest Expense Percentage Change. No authoritative reference available. No authoritative reference available. No authoritative reference available. Prepaid expenses and other current assets. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 25 R13.xml IDEA: Stockholders' Equity 2.2.0.25falsefalse0207 - Disclosure - Stockholders' Equitytruefalsefalse1falsefalseUSDfalsefalse8/1/2010 - 10/31/2010 USD ($) $Aug-01-2010_Oct-31-2010http://www.sec.gov/CIK0000746598duration2010-08-01T00:00:002010-10-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$2true0us-gaap_StockholdersEquityNoteAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 7 - us-gaap:StockholdersEquityNoteDisclosureTextBlock--> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE G &#8212; Stockholders&#8217; Equity </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In fiscal 2009, the Company&#8217;s Board of Directors authorized share repurchase plans for the Company&#8217;s Class&#160;A Nonvoting Common Stock. The share repurchase plans were implemented by purchasing shares in the open market or privately negotiated transactions, with repurchased shares available for use in connection with the Company&#8217;s stock-based plans and for other corporate purposes. The Company reacquired approximately 102,067 shares of its Class&#160;A Common Stock for $2.5&#160;million in fiscal 2010 in connection with its stock repurchase plans. No shares were reacquired during the three months ended October&#160;31, 2010. As of October&#160;31, 2010, there remained 204,133 shares to purchase in connection with this share repurchase plan. </div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosures related to accounts comprising shareholders' equity, including other comprehensive income. 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Examples include land, buildings, and production equipment.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 12 -Paragraph 5 -Subparagraph b, c Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 7 truefalse25false0us-gaap_Assetsus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truefalsefalse18052480001805248falsefalsefalsefalsefalse2truefalsefalse17465310001746531falsefalsefalsefalsefalseMonetary xbrli:monetaryItemTypemonetarySum of the carrying amounts as of the balance sheet date of all assets that are recognized. 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Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 falsefalse28false0us-gaap_EmployeeRelatedLiabilitiesCurrentus-gaaptruecreditinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse5157700051577falsefalsefalsefalsefalse2truefalsefalse6728500067285falsefalsefalsefalsefalseMone taryxbrli:monetaryItemTypemonetaryTotal of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. 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Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 24 -Article 5 truefalse36false0us-gaap_Liabilitiesus-gaaptruecreditinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefa lse748029000748029falsefalsefalsefalsefalse2truefalsefalse741504000741504falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetarySum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.No authoritative reference available.falsefalse37true0us-gaap_StockholdersEquityAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse38false0us-gaap_AdditionalPaidInCapitalCommonStockus-gaaptruecreditinstantNo definition avai lable.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse306474000306474falsefalsefalsefalsefalse< /hasScenarios>2truefalsefalse304205000304205falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryValue received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. 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May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5 falsefalse39false0us-gaap_RetainedEarningsAccumulatedDeficitus-gaaptruecreditinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefal sefalse735368000735368falsefalsefalsefalsefalse2truefalsefalse718512000718512falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cumulative amount of the reporting entity's undistributed earnings or deficit.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 falsefalse40false0us-gaap_TreasuryStockValueus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1truefalsefalse-60208000-60208falsefalsefalsefalsefalse2truefalsefalse-66314000-66314falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryValue of common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. 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In the opinion of the Company, the foregoing statements contain all adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial position of the Company as of October&#160;31, 2010 and July 3l, 2010, and its results of operations and cash flows for the three months ended October&#160;31, 2010 and 2009. The condensed consolidated balance sheet as of July&#160;31, 2010 has been derived from the audited consolidated financial statements of that date. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from the estimates. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statement presentation. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company&#8217;s latest annual report on Form 10-K for the year ended July&#160;31, 2010. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company has reclassified certain prior year financial statement amounts to conform to their current year presentation. The operating activities including &#8220;Other,&#8221; &#8220;Other liabilities,&#8221; and &#8220;Accounts payable and accrued liabilities&#8221;, which were previously disclosed as single line items, have been combined and reported as &#8220;Accounts payable and other liabilities&#8221; on the Condensed Consolidated Statement of Cash Flows for the three months ended October&#160;31, 2009. These reclassifications had no effect on total assets, net income, or earnings per share. </div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescription containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS140-4 and FIN46(R)-8 -Paragraph 8, C1, C7 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 2-6 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-6 -Paragraph 10 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 46R -Paragraph 4, 14, 15 falsefalse12Basis of PresentationUnKnownUnKnownUnKnownUnKnownfalsetrue XML 31 R17.xml IDEA: Derivatives and Hedging Activities 2.2.0.25falsefalse0211 - Disclosure - Derivatives and Hedging Activitiestruefalsefalse1falsefalseUSDfalsefalse8/1/2010 - 10/31/2010 USD ($) $Aug-01-2010_Oct-31-2010http://www.sec.gov/CIK0000746598duration2010-08-01T00:00:002010-10-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$2true0us-gaap_DerivativeInstrumentsAndHedgesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 11 - us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock--> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt">NOTE K &#8212; Derivatives and Hedging Activities </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company utilizes forward foreign exchange currency contracts to reduce the exchange rate risk of specific foreign currency denominated transactions. These contracts typically require the exchange of a foreign currency for U.S. dollars at a fixed rate at a future date, with maturities of less than 12&#160;months, which qualify as cash flow hedges under the accounting guidance for derivative instruments and hedging activities. The primary objective of the Company&#8217;s foreign currency exchange risk management is to minimize the impact of currency movements due to products purchased in other than the respective subsidiaries&#8217; functional currency. To achieve this objective, the Company hedges a portion of known exposures using forward foreign exchange currency contracts. As of October&#160;31, 2010 and July&#160;31, 2010, the notional amount of outstanding forward exchange contracts was $24,987 and $45,328, respectively. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Hedge effectiveness is determined by how closely the changes in the fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged item. Hedge accounting is permitted only if the hedging relationship is expected to be highly effective at the inception of the hedge and on an on-going basis. Gains or losses on the derivative related to hedge ineffectiveness are recognized in current earnings. The amount of hedge ineffectiveness was not significant for the quarters ended October&#160;31, 2010 and 2009. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company hedges a portion of known exposure using forward exchange contracts. Main exposures are related to transactions denominated in the British Pound, the Euro, Canadian Dollar, Australian Dollar, Singapore Dollar, Swedish Krona, Danish Krone, Japanese Yen, Swiss Franc, and the Korean Won. Generally, these risk management transactions will involve the use of foreign currency derivatives to protect against exposure resulting from sales and identified inventory or other asset purchases. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The Company has designated a portion of its foreign exchange contracts as cash flow hedges and recorded these contracts at fair value on the Condensed Consolidated Balance Sheets. For these instruments, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (&#8220;OCI&#8221;) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. 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At October&#160;31, 2010 and July&#160;31, 2010, the U.S. dollar equivalent of these outstanding forward foreign exchange contracts totaled $24,987 and $32,020, respectively, including contracts to sell Euros, Canadian Dollars, Australian Dollars, British Pounds, U.S. Dollars, and Swiss Franc. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On May&#160;13, 2010, the Company completed the private placement of <font style="font-family:'times new roman',times,serif">&#8364;</font>75.0&#160;million aggregate principal amount of senior unsecured notes to accredited institutional investors. This Euro-denominated debt obligation was designated as a net investment hedge to selectively hedge portions of its net investment in European foreign operations. As net investment hedges, the currency effects of the debt obligations are reflected in the foreign currency translation adjustments component of accumulated other comprehensive income where they offset gains and losses recorded on the Company&#8217;s net investment in European operations. The Company&#8217;s foreign denominated debt obligations are valued under a market approach using publicized spot prices. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Additionally, during fiscal 2010, the Company used forward foreign exchange currency contracts designated as hedge instruments to hedge portions of the Company&#8217;s net investments in European foreign operations. For hedges that meet the effectiveness requirements, the net gains or losses attributable to changes in spot exchange rates are recorded in cumulative translation within other comprehensive income. Any ineffective portions are to be recognized in earnings. 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