• Filing Date: 2020-06-12
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.1
Fair Value Measurements
9 Months Ended
Apr. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 3—Fair Value Measurements

 

The following tables present the balance of assets and liabilities measured at fair value on a recurring basis:

 

      Level 1 (1)   Level 2 (2)   Level 3 (3)   Total 
   30-Apr-20  (in thousands) 
Assets:                  
Foreign exchange forward contracts     $-   $-   $-   $- 
                        
Liabilities:                       
Foreign exchange forward contracts     $-   $145   $-   $145 
   31-Jul-19                    
Assets:                       
Foreign exchange forward contracts     $-   $-   $-   $- 
                        
Liabilities:                       
Foreign exchange forward contracts     $-   $38   $-   $38 

 

(1) – quoted prices in active markets for identical assets or liabilities

(2) – observable inputs other than quoted prices in active markets for identical assets and liabilities

(3) – no observable pricing inputs in the market

 

Fair Value of Other Financial Instruments

 

The Company's other financial instruments at April 30, 2020 and July 31, 2019 included trade accounts receivable, trade accounts payable, loans payable, and lease liabilities. The carrying amounts of the trade accounts receivable, trade accounts payable, loan payables, and lease liabilities approximated fair value due to their short-term nature.