Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Summary Of Cash Equivalents Measured At Fair Value

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

	Estimated Fair Value Measurement as of October 31, 2020
Description	Total		Level 1		Level 2		Level 3
Assets:
Money Market	$	204,036	$	204,036	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	8,076	$	—	$	8,076	$	—
Liabilities:
Interest Rate Swaps	$	17,855	$	—	$	17,855	$	—
Contingent Consideration	$	16,000	$	—	$	—	$	16,000
	Estimated Fair Value Measurement as of July 31, 2020
Description	Total		Level 1		Level 2		Level 3
Assets:
Money Market	$	203,158	$	203,158	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	8,208	$	—	$	8,208	$	—
Liabilities:
Interest Rate Swaps	$	22,510	$	—	$	22,510
Contingent Consideration	$	17,800	$	—	$	—	$	17,800
	Estimated Fair Value Measurement as of October 31, 2019
Description	Total		Level 1		Level 2		Level 3
Assets:
Money Market	$	3,047	$	3,047	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	7,932	$	—	$	7,932	$	—
Liabilities:
Contingent Consideration	$	21,900	$	—	$	—	$	21,900

The Company’s cash equivalents, other current assets and Interest Rate Swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. The estimated fair value of the Interest Rate Swaps are included within other long-term liabilities on the Company’s Consolidated Condensed Balance Sheet as of October 31, 2020.

The changes in Contingent Consideration during the three months ended October 31, 2020 and 2019 were as follows (in thousands):

Balance as of July 31, 2020 and 2019, respectively	$	17,800		$	27,200
Payments	(2,602		)	(6,436		)
Change in estimated fair value	802			1,136
Balance as of October 31, 2020 and 2019, respectively	$	16,000		$	21,900