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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jul. 31, 2019	Oct. 01, 2019	Jan. 31, 2019
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jul. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	STEEL CONNECT, INC.
Entity Central Index Key	0000914712
Current Fiscal Year End Date	--07-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		61,805,856
Entity Public Float			$ 61,746,026

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
ASSETS
Cash and cash equivalents	$ 32,548	$ 92,138
Accounts receivable, trade, net of allowance for doubtful accounts of $1,804 and $480 at July 31, 2019 and July 31, 2018, respectively	112,141	99,254
Inventories, net	23,674	47,786
Funds held for clients	13,516	11,688
Prepaid expenses and other current assets	31,445	13,415
Total current assets	213,324	264,281
Property and equipment, net	91,268	106,632
Goodwill	257,128	254,352
Other intangible assets, net	162,518	192,964
Other assets	7,325	8,821
Total assets	731,563	827,050
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Accounts payable	85,898	78,212
Accrued expenses	112,658	88,426
Funds held for clients	13,516	11,688
Current portion of long-term debt	5,732	5,727
Other current liabilities	39,046	42,029
Convertible Notes payable	0	50,274
Total current liabilities	256,850	276,356
Convertible Notes payable	7,432	14,256
Long-term debt, excluding current portion	368,505	383,111
Other long-term liabilities	10,898	10,507
Total long-term liabilities	386,835	407,874
Total liabilities	643,685	684,230
Commitments and contingencies (Note 8)
Contingently redeemable preferred stock, $0.01 par value per share. 35,000 shares authorized, issued and outstanding at July 31, 2019 and 2018	35,186	35,192
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2019 and July 31, 2018; zero shares issued and outstanding at July 31, 2019 and July 31, 2018	0	0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 61,805,856 issued and outstanding shares at July 31, 2019; 60,742,859 issued and outstanding shares at July 31, 2018	618	608
Additional paid-in capital	7,477,327	7,467,855
Accumulated deficit	(7,426,287)	(7,363,569)
Accumulated other comprehensive income	1,034	2,734
Total stockholders' equity	52,692	107,628
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$ 731,563	$ 827,050

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Accounts receivable, trade, allowance for doubtful accounts	$ 1,804	$ 480
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares Authorized (in share)	4,965,000	4,965,000
Preferred stock, shares issued (in share)	0	0
Preferred stock, shares outstanding (in share)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares Authorized (in share)	1,400,000,000	1,400,000,000
Common stock, shares issued (in share)	61,805,856	60,742,859
Common stock, shares outstanding (in share)	61,805,856	60,742,859
Contingent Convertible Preferred Stock
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares Authorized (in share)	35,000	35,000
Preferred stock, shares issued (in share)	35,000	35,000
Preferred stock, shares outstanding (in share)	35,000	35,000

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Net revenue:
Total net revenue	$ 819,830	$ 645,258
Cost of revenue	670,100	543,999
Gross profit	149,730	101,259
Operating expenses:
Selling, general and administrative	144,078	101,972
Amortization of intangible assets	30,446	20,285
(Gain) loss on sale of property	485	(12,692)
Total operating expenses	175,009	109,565
Operating loss	(25,279)	(8,306)
Other income (expense):
Interest income	528	679
Interest expense	(41,951)	(29,884)
Other gains, net	4,603	2,223
Total other expense	(36,820)	(26,982)
Loss before income taxes	(62,099)	(35,288)
Income tax expense (benefit)	4,670	(71,202)
Gains on investments in affiliates, net of tax	(42)	(801)
Net income (loss)	(66,727)	36,715
Less: Preferred dividends on redeemable preferred stock	(2,129)	(1,335)
Net income (loss) attributable to common stockholders	$ (68,856)	$ 35,380
Basic net earnings (loss) per share attributable to common stockholders (in usd per share)	$ (1.13)	$ 0.60
Diluted net earnings (loss) per share attributable to common stockholders (in usd per share)	$ (1.13)	$ 0.53
Weighted average common shares used in:
Basic earnings (loss) per share (in shares)	61,180	59,179
Diluted earnings (loss) per share (in shares)	61,180	81,899
Services
Net revenue:
Total net revenue	$ 332,928	$ 345,900
Products
Net revenue:
Total net revenue	$ 486,902	$ 299,358

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (66,727)	$ 36,715
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,331)	(1,174)
Net unrealized holding gain (loss) securities, net of tax	(85)	14
Pension liability adjustments, net of tax	(284)	(419)
Other comprehensive loss	(1,700)	(1,579)
Comprehensive income (loss)	$ (68,427)	$ 35,136

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Balance at Jul. 31, 2017	$ 62,971	$ 556	$ 7,457,051	$ (7,398,949)	$ 4,313
Balance, shares at Jul. 31, 2017		55,555,973
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36,715			36,715
Preferred dividends	(1,335)			(1,335)
Issuance of common stock pursuant to employee stock purchase plan and stock option exercises	8		8
Issuance of common stock pursuant to employee stock purchase plan and stock option exercises, shares		10,462
Restricted stock grants	47	$ 52	(5)
Restricted stock grants, shares		5,225,806
Restricted stock forfeitures, shares		(49,382)
Share-based compensation	10,801		10,801
Other comprehensive items	(1,579)				(1,579)
Balance at Jul. 31, 2018	$ 107,628	$ 608	7,467,855	(7,363,569)	2,734
Balance, shares at Jul. 31, 2018	60,742,859	60,742,859
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (66,727)			(66,727)
Effect of adoption of accounting standards	6,138			6,138
Equity portion of convertible note	8,200		8,200
Preferred dividends	(2,129)			(2,129)
Issuance of common stock pursuant to employee stock purchase plan and stock option exercises	15		15
Issuance of common stock pursuant to employee stock purchase plan and stock option exercises, shares		17,454
Restricted stock grants	0	$ 10	(10)
Restricted stock grants, shares		1,045,543
Share-based compensation	1,267		1,267
Other comprehensive items	(1,700)				(1,700)
Balance at Jul. 31, 2019	$ 52,692	$ 618	$ 7,477,327	$ (7,426,287)	$ 1,034
Balance, shares at Jul. 31, 2019	61,805,856	61,805,856

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ (66,727)	$ 36,715
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	22,058	16,791
Amortization of intangible assets	30,446	20,285
Amortization of deferred financing costs	771	1,072
Accretion of debt discount	3,433	4,384
Impairment of long-lived assets	3,015	(91)
Share-based compensation	1,267	10,801
Other gains, net	(4,603)	(15,266)
Gains on investments in affiliates	(42)	(801)
Changes in operating assets and liabilities, net of business acquired:
Accounts receivable, net	(14,090)	29,735
Inventories, net	2,482	19,971
Prepaid expenses and other current assets	5,519	4,797
Accounts payable and accrued expenses	36,486	(39,945)
Refundable and accrued income taxes, net	(3,045)	6,524
Deferred tax assets and liabilities	1,563	(78,794)
Other assets and liabilities	2,316	(6,176)
Net cash provided by operating activities	20,849	10,002
Cash flows from investing activities:
Payments to acquire business	0	(469,221)
Additions to property and equipment	(14,539)	(18,423)
Proceeds from the disposition of property and equipment	19	20,748
Proceeds from the sale of Trading Securities	0	13,775
Proceeds from investments in affiliates	42	801
Net cash used in investing activities	(14,478)	(452,320)
Cash flows from financing activities:
Proceeds from long-term debt	0	393,000
Proceeds from issuance of preferred stock	0	35,000
Proceeds from issuance of Convertible Note	14,940	0
Proceeds from revolving line of credit, net	6,000	0
Payments on maturity of Convertible Notes	(63,925)	0
Payment of long-term debt	(14,879)	(3,000)
Payment of deferred financing costs	0	(1,334)
Payment of preferred dividends	(2,129)	(1,143)
Purchase of the Company's Convertible Notes	(3,700)	0
Repayments on capital lease obligations	(134)	(652)
Proceeds from issuance of common stock	15	8
Net cash provided by (used in) financing activities	(63,812)	421,879
Net effect of exchange rate changes on cash and cash equivalents	(321)	141
Net decrease in cash, cash equivalents and restricted cash	(57,762)	(20,298)
Cash, cash equivalents and restricted cash, beginning of period	103,826	124,124
Cash, cash equivalents and restricted cash, end of period	$ 46,064	$ 103,826

NATURE OF OPERATIONS	12 Months Ended
NATURE OF OPERATIONS	Jul. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Steel Connect, Inc. (the "Company") together with its consolidated subsidiaries, operates through its wholly owned subsidiaries, ModusLink Corporation and ModusLink PTS, Inc. (together "ModusLink" or "Supply Chain"), and IWCO Direct Holdings, Inc. ("IWCO Direct" or "IWCO"). The Company was formerly known as ModusLink Global Solutions, Inc. until it changed its name to Steel Connect, Inc. effective February 27, 2018. ModusLink is a supply chain business process management company serving clients in markets such as consumer electronics, communications, computing, medical devices, software, and retail. ModusLink designs and executes elements in its clients' global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. The Company also produces and licenses an entitlement management solution for activation, provisioning, entitlement subscription and data collection from physical goods (connected products) and digital products. IWCO Direct delivers data-driven marketing solutions for its customers. Its full range of services includes strategy, creative and execution for omnichannel marketing campaigns, along with postal logistics programs for direct mail. Through its Mail-Gard® division, IWCO Direct also offers business continuity and disaster recovery services to protect against unexpected business interruptions, along with providing print and mail outsourcing services. Historically, the Company has financed its operations and met its capital requirements primarily through funds generated from operations, the sale of our securities, borrowings from lending institutions and sale of facilities that were not fully utilized. The Company believes it has access to adequate resources to meet its needs for normal operating costs, capital expenditures, mandatory debt redemptions and working capital for its existing business for at least twelve months from the date of this filing. These resources include cash and cash equivalents, the Credit Agreement, as defined in Note 7, the securitization of trade receivables not currently in the Credit Agreement and the revolving credit facility and cash, if any, provided by operating activities. The Company’s estimate as to how long it expects its existing cash to be able to continue to fund its operations is based on assumptions that may prove to be inaccurate, and it could require capital resources sooner than currently expected, which the Company believes it will have access to. At July 31, 2019 and 2018, the Company had cash and cash equivalents and Trading Securities of $32.5 million and $92.1 million, respectively. As July 31, 2019, the Company had a deficiency in working capital which was primarily driven by the Company's $6.0 million outstanding on the revolving credit facility, accrued pricing liabilities which the Company believes will not require a cash outlay in the next twelve months and the additional liabilities assumed because of the acquisition of IWCO Direct during December 2017 (the "IWCO Acquisition"). At July 31, 2019, the Company had a readily available borrowing capacity under its PNC Bank Credit Facility of $13.8 million. The term of the PNC Bank Credit Facility expires on December 31, 2019. At July 31, 2019, IWCO had a readily available borrowing capacity under its revolving facility of $19.0 million. The Company believes it will generate sufficient cash to meet its debt covenants under its credit facilities to which certain of its subsidiaries are a party and that it will be able to obtain cash through its current credit facilities, through securitization of certain trade receivables and a new facility, if needed. The Company's 5.25% Convertible Senior Notes matured on March 1, 2019, with a balance due of $65.6 million, including interest to the March 1, 2019 maturity date. Included in the balance due were notes held by SPH Group Holdings LLC ("SPHG Holdings") in the principal amount of $14.9 million. The total $65.6 million balance due was paid in full by the Company from available cash on-hand, including the $14.9 million from the proceeds of the 7.50% Convertible Senior Note entered into on February 28, 2019.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jul. 31, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated financial statements reflect the application of certain significant accounting policies described below.

Principles of Consolidation

The accompanying consolidated financial statements of the Company include the results of its wholly-owned and majority-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Company accounts for investments in businesses in which it owns between 20% and 50% of the voting interest using the equity method, if the Company has the ability to exercise significant influence over the investee company. All other investments in privately held businesses over which the Company does not have the ability to exercise significant influence, or for which there is not a readily determinable market value, are accounted for under the cost method of accounting.

Use of Estimates

The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates including those related to revenue recognition, allowance for doubtful accounts, inventories, fair value of its trading and available-for-sale securities, intangible assets, income taxes, valuation of long-lived assets, impairments, contingencies, restructuring charges, litigation, pension obligations and the fair value of stock options and share bonus awards granted under the Company's stock based compensation plans. Accounting estimates are based on historical experience and various assumptions that are considered reasonable under the circumstances. However, because these estimates inherently involve judgments and uncertainties, actual results could differ materially from those estimated.

Revenue Recognition

On August 1, 2018, the Company adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of August 1, 2018. Results for reporting periods beginning after August 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historic accounting under Topic 605.

The Company recognizes revenue from its contracts with customers primarily from the sale of supply chain management services and marketing solutions offerings. Revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For ModusLink's supply chain management services arrangements and IWCO's marketing solutions offerings, the goods and services are considered to be transferred over time as they are performed. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

ModusLink's revenue primarily comes from the sale of supply chain management services to its clients. Under the new standard, the majority of these arrangements consist of two distinct performance obligations (i.e. a warehousing and inventory management service and a separate kitting, packaging and assembly service), each of which is recognized over time as services are performed using an input method based on the level of efforts expended. A significant portion of ModusLink's revenue from these arrangements continues to be recognized over time as the services are performed based on an input method of efforts expended which corresponds with the transfer of value to the customer. For the limited population of contracts where the Company previously recognized revenues upon completion of all services and historically recognized revenue at a point in time (generally upon product shipment), the new standard accelerates the recognition of revenue as the Company's performance enhances assets that the customer controls and therefore revenue is recognized over time based on an input method of efforts expended which corresponds with the transfer of value to the customer.

Revenue from the sale of perpetual licenses sold in ModusLink's e-Business operations is now recognized at a point in time upon execution of the relevant license agreement and when delivery has taken place.

Revenue recognized related to the majority of IWCO's marketing solutions offerings, which typically consist of a single integrated performance obligation, is now recognized over time as the Company performs because the products have no alternative use to the Company.

In accordance with Topic 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods or services, and excludes any sales incentives or taxes collected from customers which are subsequently remitted to government authorities.

Supply chain management services.

ModusLink's revenue primarily comes from the sale of supply chain management services to its clients. Amounts billed to customers under these arrangements include revenue attributable to the services performed as well as for materials procured on the customer's behalf as part of its service to them. The majority of these arrangements consist of two distinct performance obligations (i.e. warehousing/inventory management service and a separate kitting/packaging/assembly service), revenue related to each of which is recognized over time as services are performed using an input method based on the level of efforts expended.

Marketing solutions offerings.

IWCO's revenue is generated through the provision of data-driven marketing solutions, primarily through providing direct mail products to customers. Revenue related to the majority of IWCO's marketing solutions contracts, which typically consist of a single integrated performance obligation, is recognized over time as the Company performs because the products have no alternative use to the Company.

Other.

Other revenue consists of cloud-based software subscriptions, software maintenance and support service contracts, and fees for professional services. Revenue related to these arrangements is recognized on a straight-line basis over the term of the agreement or over the term of the agreement in proportion to the costs incurred in satisfying the obligations under the contract.

Significant Judgments

The Company's contracts with customers may include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. For arrangements with multiple performance obligations, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company generally determines standalone selling prices based on the prices charged to customers and uses a range of amounts to estimate standalone selling prices when we sell each of the products and services separately and need to determine whether there is a discount that needs to be allocated based on the relative standalone selling prices of the various products and services. The Company typically has more than one range of standalone selling prices for individual products and services due to the stratification of those products and services by customers and circumstances. In these instances, the Company may use information such as the type of customer and geographic region in determining the range of standalone selling prices.

The Company may provide credits or incentives to customers, which are accounted for as variable consideration when estimating the transaction price of the contract and amounts of revenue to recognize. The amount of variable consideration to include in the transaction price is estimated at contract inception using either the estimated value method or the most likely amount method based on the nature of the variable consideration. These estimates are updated at the end of each reporting period as additional information becomes available and revenue is recognized only to the extent that it is probable that a significant reversal of any amounts of variable consideration included in the transaction price will not occur.

Contract Balances

Timing of revenue recognition may differ from timing of invoicing to customers. The Company records contract assets and liabilities related to its contracts with customers as follows:

•Accounts receivable when revenue is recognized prior to receipt of cash payments and if the right to such amounts is unconditional and solely based on the passage of time.

•Contract asset when the Company recognizes revenue based on efforts expended but the right to such amount is conditional upon satisfaction of another performance obligation. Contract assets are primarily comprised of fees related to marketing solutions offerings and supply chain management services. The Company notes that its contract assets are all short-term in nature and are included in prepaid expenses and other current assets in the Company's consolidated balance sheets.

•Deferred revenue when cash payments are received or due in advance of performance. Deferred revenue is primarily comprised of fees related to supply chain management services, cloud-based software subscriptions and software maintenance and support service contracts, which are generally billed in advance. Deferred revenue also includes other offerings for which we have been paid in advance and earn the revenue when we transfer control of the product or service. The deferred revenue balance is classified as a component of other current liabilities and other long-term liabilities on the Company's consolidated balance sheets.

Accounts Receivable and Allowance for Doubtful Accounts

The Company's unsecured accounts receivable are stated at original invoice amount less an estimate made for doubtful receivables based on a monthly review of all outstanding amounts. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering each customer's financial condition, credit history and current economic conditions. The Company writes off accounts receivable when management deems them uncollectible and records recoveries of accounts receivable previously written off when received. When accounts receivable are considered past due, the Company generally does not charge interest on past due balances.

The allowance for doubtful accounts consisted of the following:



	July 31, 2019			July 31, 2018
	(In thousands)
Balance at beginning of year	$	480		$	616
Provisions charged to expense	1,418			211
Accounts written off	(94		)	(347		)
	$	1,804		$	480

Foreign Currency Translation

All assets and liabilities of the Company's foreign subsidiaries, whose functional currency is the local currency, are translated to U.S. dollars at the rates in effect at the balance sheet date. All amounts in the Consolidated Statements of Operations are translated using the average exchange rates in effect during the year. Resulting translation adjustments are reflected in the accumulated other comprehensive income (loss) component of stockholders' equity. Settlement of receivables and payables in a foreign currency that is not the functional currency result in foreign currency transaction gains and losses. Foreign currency transaction gains and losses are included in "Other gains (losses), net" in the Consolidated Statements of Operations.

Cash, Cash Equivalents and Short-term Investments

The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. Investments with maturities greater than three months to twelve months at the time of purchase are considered short-term investments. Cash and cash equivalents consisted of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Cash and bank deposits	$	32,183	$	44,952
Money market funds	365		47,186
	$	32,548	$	92,138

Fair Value of Financial Instruments

The carrying value of cash and cash equivalents, accounts receivable, accounts payable, current liabilities and the revolving line of credit approximate fair value because of the short maturity of these instruments. We believe that the carrying value of our long-term debt approximates fair value because the stated interest rates of this debt is consistent with current market rates. The carrying value of capital lease obligations approximates fair value, as estimated by using discounted future cash flows based on the Company's current incremental borrowing rates for similar types of borrowing arrangements. The fair values of the Company's Trading Securities was estimated using quoted market prices.

The defined benefit plans have assets invested in insurance contracts and bank managed portfolios. Conservation of capital with some conservative growth potential is the strategy for the plans. The Company's pension plans are outside the United States, where asset allocation decisions are typically made by an independent board of trustees. Investment objectives are aligned to generate returns that will enable the plans to meet their future obligations. The Company acts in a consulting and governance role in reviewing investment strategy and providing a recommended list of investment managers for each plan, with final decisions on asset allocation and investment manager made by local trustees.

ASC Topic 820 provides that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. ASC Topic 820 requires the Company to use valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows:


Level 1:	Observable inputs such as quoted prices for identical assets or liabilities in active markets


Level 2:	Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs


Level 3:	Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants would price the assets or liabilities

Funds Held for Clients

Funds held for clients represent assets that are restricted for use solely for the purposes of satisfying the obligations to remit client's customer funds to the Company's clients. These funds are classified as a current asset and a corresponding current liability on the Company's Consolidated Balance Sheets.

Inventory

We value the inventory at the lower of cost or net realizable value. Cost is determined by both moving averages and the first-in, first-out methods. We continuously monitor inventory balances and record inventory provisions for any excess of the cost of the inventory over its estimated net realizable value. We also monitor inventory balances for obsolescence and excess quantities as compared to projected demands. Our inventory methodology is based on assumptions about average shelf life of inventory, forecasted volumes, forecasted selling prices, contractual provisions with our clients, write-down history of inventory and market conditions. While such assumptions may change from period to period, in determining the net realizable value of our inventories, we use the best information available as of the balance sheet date. If actual market conditions are less favorable than those projected, or we experience a higher incidence of inventory obsolescence because of rapidly changing technology and client requirements, additional inventory provisions may be required. Once established, write-downs of inventory are considered permanent adjustments to the cost basis of inventory and cannot be reversed due to subsequent increases in demand forecasts.

IWCO's inventory consists primarily of raw material (paper) used to produce direct mail packages and work-in-process, finished goods are generally not a significant element of the inventory as they are generally mailed after the production and sorting process. With the acquisition of IWCO, the Company recorded a fair value "step-up" to work-in-process inventory of $7.2 million which was recognized as a non-cash charge to cost of revenues during the fiscal year 2018.

Inventories consisted of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Raw materials	$	21,322	$	23,208
Work-in-process	587		16,147
Finished goods	1,765		8,431
	$	23,674	$	47,786

Business Combinations and Valuation of Goodwill and Other Acquired Intangible Assets

We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets may include, but are not limited to, future expected cash flows, acquired technology and tradenames, useful lives, and discount rates. Management's estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is not to exceed one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.

Accounting for Impairment of Long-Lived Assets, Goodwill and Other Intangible Assets

The Company follows ASC Topic 360, "Property, Plant, and Equipment" ("ASC Topic 360"). Under ASC Topic 360, the Company tests certain long-lived assets or group of assets for recoverability whenever events or changes in circumstances indicate that the Company may not be able to recover the asset's carrying amount. ASC Topic 360 defines impairment as the condition that exists when the carrying amount of a long-lived asset or group, including property and equipment and other intangible assets, exceeds its fair value. The Company evaluates recoverability by determining whether the undiscounted cash flows expected to result from the use and eventual disposition of that asset or group cover the carrying value at the evaluation date. If the undiscounted cash flows are not sufficient to cover the carrying value, the Company measures an impairment loss as the excess of the carrying amount of the long-lived asset or group over its fair value. Management may use third party valuation experts to assist in its determination of fair value.

The Company is required to test goodwill for impairment annually or if a triggering event occurs in accordance with the provisions of ASC Topic 350, "Goodwill and Other." The Company's policy is to perform its annual impairment testing for its business units during the fourth quarter of each fiscal year.

Acquired finite-lived intangible assets are amortized over their estimated useful lives. We evaluate the recoverability of our intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the carrying amount of property and equipment and intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value.

Property and Equipment

Property, plant and equipment are stated at cost. The costs of additions and improvements are capitalized, while maintenance and repairs are charged to expense as incurred. Depreciation and amortization is provided on the straight-line basis over the estimated useful lives of the respective assets. The Company capitalizes certain computer software development costs when incurred in connection with developing or obtaining computer software for internal use. The estimated useful lives are as follows:



Buildings	32 years
Machinery & equipment	3 to 7 years
Furniture & fixtures	5 to 7 years
Automobiles	5 years
Software	3 to 8 years
Leasehold improvements	Shorter of the remaining lease term or the estimated useful life of the asset

Income Taxes

Income taxes are accounted for under the provisions of ASC Topic 740, "Income Taxes" ("ASC Topic 740") using the asset and liability method whereby deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC Topic 740 also requires that the deferred tax assets be reduced by a valuation allowance, if based on the weight of available evidence, it is more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. This methodology is subjective and requires significant estimates and judgments in the determination of the recoverability of deferred tax assets and in the calculation of certain tax liabilities.

In accordance with ASC Topic 740, the Company applies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company's financial statements. ASC Topic 740 prescribes a recognition threshold of more-likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the financial statements. In accordance with the Company's accounting policy, interest and penalties related to uncertain tax positions is included in the "income tax expense" line of the Consolidated Statements of Operations. See Note 13, "Income Taxes," for additional information.

Earnings (Loss) Per Share

The following table reconciles earnings (loss) per share for the fiscal years ended July 31, 2019 and 2018.



	Twelve Months Ended July 31,
	2019			2018
	(In thousands, except per share data)
Net income (loss)	$	(66,727	)	$	36,715
Less: Preferred dividends on redeemable preferred stock	(2,129		)	(1,335		)
Net income (loss) attributable to common stockholders	(68,856		)	35,380
Effect of dilutive securities:
5.25% Convertible Senior Notes	—			7,079
Redeemable preferred stock	—			1,335
Net income (loss) attributable to common stockholders after assumed conversions	$	(68,856	)	$	43,794
Weighted average common shares outstanding	61,180			59,179
Weighted average common equivalent shares arising from dilutive stock options, restricted stock, convertible notes and convertible preferred stock	—			22,720
Weighted average number of common and potential common shares	61,180			81,899
Basic net earnings (loss) per share attributable to common stockholders:	$	(1.13	)	$	0.60
Diluted net earnings (loss) per share attributable to common stockholders:	$	(1.13	)	$	0.53

Approximately 20.9 million and 0.5 million common stock equivalent shares relating to the effects of outstanding stock options and restricted stock were excluded from the denominator in the calculation of diluted earnings per share for the fiscal years ended July 31, 2019 and 2018, respectively. The common stock equivalent shares excluded during the fiscal year ended July 31, 2019 and 2018 were primarily excluded as their effect would be anti-dilutive. The common stock equivalent shares excluded during the year ended July 31, 2018 were primarily excluded as the options were out-of-the-money. Approximately 2.6 million common shares outstanding associated with the Convertible Note, using the if-converted method, were excluded from the denominator in the calculation of diluted earnings (loss) per share for the fiscal years ended July 31, 2019. Approximately 17.9 million common shares outstanding associated with the Contingently redeemable preferred stock, using the if-converted method, were excluded from the denominator in the calculation of diluted earnings (loss) per share for the fiscal year ended July 31, 2019.

Share-Based Compensation Plans

The Company recognizes share-based compensation in accordance with the provisions of ASC Topic 718, "Compensation— Stock Compensation" ("ASC Topic 718") which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including employee stock options and employee stock purchases based on estimated fair values.

The Company estimates the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods. In accordance with ASU 2016-09, the Company has elected to true up for forfeitures as they occur.

The Company uses a binomial-lattice option-pricing model ("binomial-lattice model") for valuation of share-based awards with time-based vesting. The Company believes that the binomial-lattice model is an accurate model for valuing employee stock options since it reflects the impact of stock price changes on option exercise behavior. For performance-based awards, stock-based compensation expense is recognized over the expected performance achievement period of individual performance milestones when the achievement of each individual performance milestone becomes probable. For share-based awards based on market conditions, specifically, the Company's stock price, the compensation cost and derived service periods are estimated using the Monte Carlo valuation method. The Company uses third party analyses to assist in developing the assumptions used in its binomial-lattice model and Monte Carlo valuations and the resulting fair value used to record compensation expense. The Company's determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company's stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. Any significant changes in these assumptions may materially affect the estimated fair value of the share-based award.

Major Clients and Concentration of Credit Risk

For the fiscal years ended July 31, 2019 and 2018, the Company's 10 largest clients accounted for approximately 49% and 44% of consolidated net revenue, respectively. One client, associated with the Supply Chain segment, accounted for 11% of the Company's consolidated net revenue for the fiscal year ended July 31, 2019. No other clients accounted for greater than 10% of the Company's consolidated net revenue for the fiscal year ended July 31, 2019. No clients accounted for greater than 10% of the Company's consolidated net revenue for the fiscal year ended July 31, 2018. A computing market client accounted for approximately 13% of the Company's Net Accounts Receivable balance as of July 31, 2019. No other clients accounted for greater than 10% of the Company's Net Accounts Receivable balance as of July 31, 2019. No clients accounted for greater than 10% of the Company's Net Accounts Receivable balance as of July 31, 2018. To manage risk, the Company performs ongoing credit evaluations of its clients' financial condition. The Company generally does not require collateral on accounts receivable. The Company maintains an allowance for doubtful accounts based on its assessment of the collectability of accounts receivable.

Financial instruments which potentially subject the Company to concentrations of credit risk are cash, cash equivalents and accounts receivable. The Company's cash equivalent portfolio is diversified and consists primarily of short-term investment grade securities placed with high credit quality financial institutions. Cash and cash equivalents are maintained at accredited financial institutions, and the balances associated with Funds Held for Clients are at times without and in excess of federally insured limits. The Company has never experienced any losses related to these balances and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with financial institutions.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. On August 1, 2018, the Company adopted this guidance and all the related amendments using the modified retrospective method for all contracts not completed as of the date of adoption. For contracts that were modified before the effective date, the Company reflected the aggregate effect of all modifications when identifying performance obligations and allocating transaction price in accordance with practical expedient ASC 606-10-65-1-(f)-4, which did not have a material effect on the Company's assessment of the cumulative effect adjustment upon adoption. The Company recognized the cumulative effect of initially applying the new standard as an adjustment to the opening balance of accumulated deficit. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which is effective for public companies for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all entities. The Company will adopt the provisions of this guidance on August 1, 2019. The new standard establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability, measured on a discounted basis, on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of operations.

In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, which clarified various aspects of the guidance under ASU 2016-02. Originally, entities were required to adopt ASU 2016-02 using a modified retrospective approach, which required prior periods to be presented under this new standard with certain practical expedients available. However, in July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which now allows entities the option of recognizing the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earnings in the year of adoption while continuing to present all prior periods under previous lease accounting guidance.

The Company will elect to utilize the transition package of practical expedients permitted within the new standard, which among other things, allows the Company to carryforward the historical lease classification. The Company will make an accounting policy election that will keep leases with an initial term of 12 months or less off the Company's Consolidated Balance Sheets and will result in recognizing those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term.

The Company expects adoption of the new standard will result in the recording of additional net lease assets and lease liabilities of approximately $53.7 million and $55.3 million, respectively, as of August 1, 2019. Adoption of the standard will not materially impact the Company's Consolidated Statements of Operations or Consolidated Statements of Cash Flows.

In January 2017 the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment. The revised guidance eliminates Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carry amount exceeds its fair value, not to exceed the carrying amount of goodwill. The Company has elected to early adopt this standard as of July 31, 2019. Its adoption did not have an impact on the Company's consolidated financial statements.

In March 2017, the FASB issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715), which requires that the service cost component of net periodic pension and postretirement benefit cost be presented in the same line item as other employee compensation costs, while the other components be presented separately as non-operating income (expense). This ASU became effective beginning in the first quarter of fiscal year 2019. The adoption of the guidance did not have a material impact on the Company's consolidated financial statements and related disclosures.

In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220). This standard provides an option to reclassify stranded tax effects within accumulated other comprehensive income (loss) to retained earnings due to the U.S. federal corporate income tax rate change in the Tax Cuts and Jobs Act of 2017. This standard was effective for interim and annual reporting periods beginning after December 15, 2018. We did not exercise the option to make this reclassification.

In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash. When cash, cash equivalents, restricted cash and restricted cash equivalents are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet. Entities will also have to disclose the nature of their restricted cash and restricted cash equivalent balances, which is similar to what is required today for SEC Registrants. This ASU was effective for the Company beginning in the first quarter of fiscal year 2019. The Company's Consolidated Statements of Cash Flows reflect its adoption.

In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This new standard was created to simplify the accounting for share-based payments to nonemployees. This standard provides guidance on how to account for share-based payment transactions with nonemployees in which a grantor acquires goods or services to be used or consumed in the grantor's own operations by issuing share-based payment awards. The amendments in ASU 2018-07 are effective for the Company's 2020 fiscal year. The Company is currently evaluating the potential impact of this new guidance.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements on fair value measurements. The amendments in ASU 2018- 13 are effective for the Company's 2021 fiscal year, except that the standard permits an entity to early adopt any removed or modified disclosures upon issuance of ASU No. 2018-13 and delay adoption of the additional disclosures until the effective date. Because ASU 2018-13 affects disclosure only, the Company does not expect that the full adoption of this standard will have a material impact on the Company's consolidated financial statements.

In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans. ASU 2018-14 modifies the disclosure requirements for employers that sponsor defined benefit pension and other post-retirement plans. The amendments in ASU 2018-14 are effective for the Company's 2022 fiscal year. Because ASU 2018-14 affects disclosure only, the Company does not expect that the adoption of this standard will have a material impact on the Company's consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The amendments in ASU 2018-15 are effective for the Company's 2021 fiscal year. The Company is currently evaluating the potential impact of this new guidance.

PROPERTY AND EQUIPMENT

12 Months Ended

Jul. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment at cost, consists of the following:



	July 31,
	2019			2018
	(In thousands)
Land	$	942		$	942
Machinery and equipment	99,961			97,149
Leasehold improvements	23,711			21,917
Software	52,961			52,082
Other	24,230			28,147
	201,805			200,237
Less: Accumulated depreciation and amortization	(110,537		)	(93,605		)
Property and equipment, net	$	91,268		$	106,632

An immaterial amount of assets are under capital leases are included in the amounts above.

During the fiscal year ended July 31, 2019, the Company determined that the fair value of a long-lived asset group in the Supply Chain segment, derived from forecasted cash flows, did not exceed its carrying value. As such, the Company recorded an impairment of long-lived assets of $3.0 million as a component of cost of revenues.

The Company recorded depreciation expense of $22.1 million and $16.8 million for the fiscal years ended July 31, 2019 and 2018, respectively. Depreciation expense within the Supply Chain and Direct Marketing segments was $5.6 million, and $16.4 million, respectively, for the year ended July 31, 2019. Depreciation expense within the Supply Chain and Direct Marketing segments was $6.8 million and $10.0 million, respectively, for the year ended July 31, 2018. Amortization of assets recorded under capital leases is included in the depreciation expense amounts.

During the twelve months ended July 31, 2018, the Company received $20.7 million in proceeds associated with the sale of property and equipment. During the twelve months ended July 31, 2018, the Company recognized $12.7 million in gains associated with the sale of property.

ACQUISITION OF IWCO DIRECT

12 Months Ended

Jul. 31, 2019

Business Combinations [Abstract]

ACQUISITION OF IWCO DIRECT

On December 15, 2017, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") by and among the Company, MLGS Merger Company, Inc., a Delaware corporation and newly formed wholly-owned subsidiary of the Company ("MLGS"), IWCO Direct Holdings, Inc. a Delaware corporation, CSC Shareholder Services, LLC, a Delaware limited liability company (solely in its capacity as representative), and the stockholders of IWCO. Pursuant to the Merger Agreement, MLGS was merged with and into IWCO, with IWCO surviving as a wholly-owned subsidiary of the Company. The Company acquired IWCO as a part of the Company's overall acquisition strategy to acquire profitable companies to utilize the Company's tax net operating losses.

The Company acquired IWCO for total consideration of approximately $469.2 million, net of purchase price adjustments. The Company financed the IWCO Acquisition through a combination of cash on hand and proceeds from a $393.0 million term loan made under the below described financing agreement with Cerberus Business Finance, LLC, net of $2.5 million received from escrow for working capital claims. The transaction price included one-time transaction incentive awards of $3.5 million paid to executives upon closing that were related to pre-existing management arrangements and were included as an element of the purchase price. In connection with the acquisition, the Company paid transaction costs of $1.5 million at acquisition which was recorded as a component of selling, general and administrative expense. Goodwill related to the acquisition of IWCO is not deductible for tax purposes.

The following table summarizes the fair value of assets acquired and liabilities assumed at the date of the acquisition:



	As Originally Reported			Adjustments			As Revised
	(In thousands)
Accounts receivable	$	47,841		$	(433	)	$	47,408
Inventories	27,165			5,829			32,994
Other current assets	7,427			3,197			10,624
Property and equipment	87,976			477			88,453
Intangible assets	210,920			2,330			213,250
Goodwill	259,085			(1,957		)	257,128
Other assets	3,040			—			3,040
Accounts payable	(31,069		)	—			(31,069		)
Accrued liabilities and other current liabilities	(35,790		)	(30,368		)	(66,158		)
Customer deposits	(7,829		)	—			(7,829		)
Deferred income taxes	(79,918		)	2,755			(77,163		)
Other long-term liabilities	(19,627		)	18,170			(1,457		)
Total consideration	$	469,221		$	—		$	469,221

Acquired intangible assets include trademarks and tradenames valued at $20.5 million and customer relationships of $192.7 million. The fair value estimate of trademarks and tradenames was prepared utilizing a relief from royalties method of valuation, while the fair value estimate of customer relationships was prepared using a multi-period excess earnings method of valuation. The trademarks and tradenames intangible asset will be amortized on a straight line basis over a 3 years estimated useful life. The customer relationship intangible asset will be amortized on a double-declining basis over an estimated useful life of 15 years. The acquired property and equipment consist mainly of machinery and equipment. The fair value of the acquired property and equipment was estimated using the cost approach to value, and applying industry standard normal useful lives and inflationary indices. The Company recognized $257.1 million of goodwill which arose primarily from the synergies in its business and the assembled workforce of IWCO. The consolidated statement of operations, for the fiscal year ended July 31, 2018, includes net revenue of $299.4 million, operating income of $10.7 million, and a loss before income taxes of $11.4 million associated with IWCO.

The following unaudited pro forma financial results are based on the Company's historical consolidated financial statements and IWCO's historical consolidated financial statements as adjusted to give effect to the Company's acquisition of IWCO and related transactions. The unaudited pro forma financial information for the twelve months ended July 31, 2018 give effect to these transactions as if they had occurred on August 1, 2016. The unaudited pro forma results presented do not necessarily reflect the results of operations that would have resulted had the acquisition been completed at the beginning of August 1, 2017, nor do they indicate the results of operations in future periods. Additionally, the unaudited pro forma results do not include the impact of possible business model changes, nor do they consider any potential impacts of current market conditions or revenues, reduction of expenses, asset dispositions, or other factors. The impact of these items could alter the following pro forma results. The pro forma results were adjusted to reflect a fair value step-up to work-in-process inventory, as well as incremental depreciation and amortization based on fair value adjustments for the acquired property and equipment, and intangible assets. A reduction to interest expense is also reflected in the pro forma results to reflect the more favorable terms obtained with the new credit facility as compared to the interest rate under the former facility carried by IWCO. The pro forma results also reflect the reversal of the income tax valuation allowance that resulted from the acquisition in fiscal year 2017, rather than fiscal year 2018:



	Twelve Months Ended
	July 31, 2018
Net revenue	$	824,825
Net loss	$	(17,148	)

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jul. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The Company's goodwill of $257.1 million as of July 31, 2019 relates to the Company's Direct Marketing reporting unit. For the fiscal year 2019, the Company performed a quantitative assessment of goodwill. The assessment was based on a combination of income and market approaches to estimate the fair value of the reporting unit, which indicated that the fair value of this reporting unit exceeded its carrying value by greater than 25.0%. Significant assumptions used in the discounted cash flow analysis included expected future earnings and cash flows, which are based on management's current expectations, as well as the related risk-adjusted discount rate used to estimate fair value. At July 31, 2019, the goodwill related to the Direct Marketing business unit, and associated intangible assets, are at risk of future impairment if the fair value of this reporting unit, and its associated assets, decrease in value due to further declines in market conditions or customer demand.

Other intangible assets, net, as of July 31, 2019, include trademarks and tradenames with a gross balance of $20.5 million and carrying balance of $9.4 million, and customer relationships with a gross balance of $192.7 million and carrying balance of $153.1 million. The trademarks and tradenames intangible asset are being amortized on a straight line basis over a 3 years estimated useful life. The customer relationship intangible asset are being amortized on a double-declining basis over an estimated useful life of 15 years. Intangible assets deemed to have finite lives are amortized over their estimated useful lives, where the useful life is the period over which the asset is expected to contribute directly, or indirectly, to its future cash flows. Intangible assets are reviewed for impairment on an interim basis when certain events or circumstances exist. For amortizable intangible assets, impairment exists when the carrying amount of the intangible asset exceeds its fair value. At least annually, the remaining useful life is evaluated. The estimated future amortization expense of intangible assets as of July 31, 2019 is as follows (in thousands):



2020	$	27,255
2021	20,258
2022	15,334
2023	11,427
2024	9,371
Thereafter	78,873
	$	162,518

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Jul. 31, 2019

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

The following schedules reflect the components of "Accrued expenses" and "Other Current Liabilities":



	July 31, 2019		July 31, 2018
	(In thousands)
Accrued taxes	$	59,057	$	29,804
Accrued compensation	22,584		25,603
Accrued interest	467		1,437
Accrued audit, tax and legal	3,148		3,264
Accrued contract labor	1,650		1,932
Accrued worker's compensation	4,549		6,126
Accrued other	21,203		20,260
	$	112,658	$	88,426



	July 31, 2019		July 31, 2018
	(In thousands)
Accrued pricing liabilities	$	14,309	$	18,882
Customer postage deposits	11,816		12,638
Revolving credit facility	6,000		—
Other	6,921		10,509
	$	39,046	$	42,029

During the twelve months ended July 31, 2019, the Company recorded adjustments totaling $32.1 million related to certain tax related liabilities, which reflected the Company's revised estimate for such exposures. As of July 31, 2019 and 2018, the Company had accrued pricing liabilities of approximately $14.3 million and $18.9 million, respectively. During the fiscal year ended July 31, 2019, the Company concluded that certain accrued pricing liabilities have been extinguished. The amounts derecognized and recorded in other income were $4.6 million for the fiscal year ended July 31, 2019. As previously reported by the Company, several principal adjustments were made to its historic financial statements for periods ending on or before January 31, 2012, the most significant of which related to the treatment of vendor rebates in its pricing policies. Where the retention of a rebate or a mark-up was determined to have been inconsistent with a client contract, the Company concluded that these amounts were not properly recorded as revenue. Accordingly, revenue was reduced by an equivalent amount for the period that the rebate was estimated to have been affected. A corresponding liability for the same amount was recorded in that period (referred to as accrued pricing liabilities). The Company believes that it may not ultimately be required to pay all or any of the accrued pricing liabilities based upon the expiration of statutes of limitations, and due in part to the nature of the interactions with its clients. The remaining accrued pricing liabilities at July 31, 2019 will be derecognized when there is sufficient information for the Company to conclude that such liabilities are not subject to escheatment and have been extinguished, which may occur through payment, legal release, or other legal or factual determination. The Company has not provided for any provision for interest and or penalties related to escheatment as it has concluded that such is not probable to occur and any potential interest and penalties cannot be reasonably estimated.

DEBT

12 Months Ended

Jul. 31, 2019

Debt Disclosure [Abstract]

DEBT

Our debt consists of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Short-term debt
Cerberus revolving credit facility	$	6,000	$	—
Current portion of long-term debt	5,732		5,727
5.25% Convertible Senior Notes Payable	—		50,274
	11,732		56,001
Long-term debt
5.25% Convertible Senior Notes Payable	—		14,256
7.50% Convertible Senior Note	7,432		—
Long-term debt, net of current portion	368,505		383,111
	375,937		397,367
Total debt	$	387,669	$	453,368

5.25% Convertible Senior Notes Payable

On March 18, 2014, the Company entered into an indenture (the "Indenture") with Wells Fargo Bank, National Association, as trustee, relating to the Company's issuance of $100 million of 5.25% Convertible Senior Notes (the "Notes"). As of July 31, 2018, the net carrying value of the Notes was $64.5 million. The Notes matured on March 1, 2019, with a balance due of $65.6 million, including interest to the March 1, 2019 maturity date. Included in the balance due were notes held by SPHG Holdings in the principal amount of $14.9 million. The total $65.6 million balance due was paid in full by the Company from available cash on-hand, including the $14.9 million from the proceeds of the 7.50% Convertible Senior Note entered into on February 28, 2019, as described below.



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Interest expense related to contractual interest coupon	$	1,932	$	3,655
Interest expense related to accretion of the discount	2,741		4,384
Interest expense related to debt issuance costs	243		388
	$	4,916	$	8,427

During the year ended July 31, 2019 and 2018, the Company recognized interest expense of $4.9 million and $8.4 million associated with the Notes, respectively. The effective interest rate on the Notes, including amortization of debt issuance costs and accretion of the discount, was 13.9%.

PNC Bank Credit Facility

On June 30, 2014, two direct and wholly owned subsidiaries of the Company (the "Borrowers") and certain subsidiaries of the Borrowers acting as guarantors (the "Guarantors"), entered into a Revolving Credit and Security Agreement (the "Credit Agreement"), as borrowers and guarantors, with PNC Bank, National Association ("PNC Bank"), as a Lender and as agent for the Lenders ("Agent").

The Credit Agreement had a five (5) year term which was to expire on June 30, 2019. On April 30, 2019, the Borrowers and Guarantors entered into a Second Amendment to Revolving Credit and Security Agreement (the "Second Amendment") by and among the Borrowers, the Guarantors, the financial institutions named as parties thereto from time to time as lenders (collectively, the "Lenders") and PNC Bank as Agent. The Second Amendment amends the Credit Agreement in order to, among other things, (i) reduce the aggregate Revolving Commitment Amounts (as defined in the Credit Agreement) of the Lenders and the related Maximum Revolving Advance Amount (as defined in the Credit Agreement) available to Borrowers under the Credit Agreement, from $50.0 million to $25.0 million, and (ii) to extend the maturity of the term under the Credit Agreement by six (6) months from June 30, 2019 to December 31, 2019. The maximum credit commitment of $25.0 million is available for letters of credit (with a sublimit of $5.0 million). The actual maximum credit available under the Credit Agreement varies from time to time and is determined by calculating the applicable borrowing base, which is based upon applicable percentages of the values of eligible accounts receivable and eligible inventory minus reserves determined by the Agent (including other reserves that the Agent may establish from time to time in its permitted discretion), all as specified in the Credit Agreement.

Generally, borrowings under the Credit Agreement bear interest at a rate per annum equal to, at the Borrowers' option, either (a) LIBOR (adjusted to reflect any required bank reserves) for an interest period equal to one, two or three months (as selected by the Borrowers) plus a margin of 2.25% per annum or (b) a base rate determined by reference to the highest of (1) the base commercial lending rate publicly announced from time to time by PNC Bank, (2) the sum of the Federal Funds Open Rate in effect on such day plus one half of one percent (0.5%) per annum, or (3) the LIBOR rate (adjusted to reflect any required bank reserves) in effect on such day plus 1.00% per annum. In addition to paying interest on outstanding principal under the Credit Agreement, the Borrowers are required to pay a commitment fee, in respect of the unutilized commitments thereunder, of 0.25% per annum, paid quarterly in arrears. The Borrowers are also required to pay a customary letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

The Credit Agreement contains certain customary affirmative covenants (including periodic reporting obligations) and events of default, including upon a change of control. During the year ended July 31, 2019, the Company did not meet the criteria that would cause its financial covenants to be applicable. At July 31, 2019, the Company had a readily available borrowing capacity under the Credit Agreement of $13.8 million. As of July 31, 2019 and 2018, the Company did not have any balance outstanding on the PNC Bank credit facility.

Cerberus Credit Facility

On December 15, 2017, MLGS, a wholly owned subsidiary of the Company, entered into a Financing Agreement (the "Financing Agreement"), by and among the MLGS (as the initial borrower), Instant Web, LLC, a Delaware corporation and wholly owned subsidiary of IWCO (as "Borrower"), IWCO, and certain of IWCO's subsidiaries (together with IWCO, the "Guarantors"), the lenders from time to time party thereto, and Cerberus Business Finance, LLC, as collateral agent and administrative agent for the lenders. MLGS was the initial borrower under the Financing Agreement, but immediately upon the consummation of the IWCO Acquisition, as described above, Borrower became the borrower under the Financing Agreement.

The Financing Agreement provides for a $393.0 million term loan facility (the "Term Loan") and a $25.0 million revolving credit facility (the "Revolving Facility") (together, the "Cerberus Credit Facility"). Proceeds of the Cerberus Credit Facility were used (i) to finance a portion of the IWCO Acquisition, (ii) to repay certain existing indebtedness of the Borrower and its subsidiaries, (iii) for working capital and general corporate purposes and (iv) to pay fees and expenses related to the Financing Agreement and the IWCO Acquisition.

The Cerberus Credit Facility has a maturity of five years. Borrowings under the Cerberus Credit Facility bear interest, at the Borrower's option, at a Reference Rate plus 3.75% or a LIBOR Rate plus 6.5%, each as defined the Financing Agreement. The initial interest rate under the Cerberus Credit Facility is at the LIBOR Rate option.

The Term Loan under the Cerberus Credit Facility is repayable in consecutive quarterly installments, each of which will be in an amount equal per quarter of $1.5 million and each such installment to be due and payable, in arrears, on the last day of each calendar quarter commencing on March 31, 2018 and ending on the earlier of (a) December 15, 2022 and (b) upon the payment in full of all obligations under the Financing Agreement and the termination of all commitments under the Financing Agreement. Further, the Term Loan would be permanently reduced pursuant to certain mandatory prepayment events including an annual "excess cash flow sweep" of 50% of the consolidated excess cash flow, with a step-down to 25% when the Leverage Ratio (as defined in the Financing Agreement) is below 3.50:1.00; provided that, in any calendar year, any voluntary prepayments of the Term Loan shall be credited against the Borrower's "excess cash flow" prepayment obligations on a dollar-for-dollar basis for such calendar year. During the twelve months ended July 31, 2019, the Company made $8.9 million in excess cash flow payments.

Borrowings under the Financing Agreement are fully guaranteed by the Guarantors and are collateralized by substantially all the assets of the Borrower and the Guarantors and a pledge of all of the issued and outstanding equity interests of each of IWCO's subsidiaries.

The Financing Agreement contains certain representations, warranties, events of default, mandatory prepayment requirements, as well as certain affirmative and negative covenants customary for financing agreements of this type. These covenants include restrictions on borrowings, investments and dispositions, as well as limitations on the ability of the Borrower and the Guarantors to make certain capital expenditures and pay dividends. Upon the occurrence and during the continuation of an event of default under the Financing Agreement, the lenders under the Financing Agreement may, among other things, terminate all commitments and declare all or a portion of the loans under the Financing Agreement immediately due and payable and increase the interest rate at which loans and obligations under the Financing Agreement bear interest.

At July 31, 2019, IWCO had a readily available borrowing capacity under its Revolving Facility of $19.0 million. As of July 31, 2019, the Company had $6.0 million outstanding on the Revolving Facility. As of July 31, 2018, the Company did not have an outstanding balance on the Revolving Facility. As of July 31, 2019 and 2018, the principal amount outstanding on the Term Loan was $375.1 million and $390.0 million, respectively. As of July 31, 2019 and 2018, the current and long-term net carrying value of the Term Loan was $374.2 million and $388.8 million, respectively.



	July 31, 2019			July 31, 2018
	(In thousands)
Principal amount outstanding on the Term Loan	$	375,125		$	390,000
Unamortized debt issuance costs	(888		)	(1,162		)
Net carrying value of the Term Loan	$	374,237		$	388,838

7.50% Convertible Senior Note

On February 28, 2019, the Company entered into that certain 7.50% Convertible Senior Note Due 2024 Purchase Agreement (the "SPHG Note Purchase Agreement") with SPHG Holdings, whereby SPHG Holdings agreed to loan the Company $14.9 million in exchange for a 7.50% Convertible Senior Note (the "SPHG Note") in the amount of $14.9 million, due 2024, issued to SPHG Holdings (the "SPHG Note Transaction"). The SPHG Note bears interest at the rate of 7.50% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2019. The SPHG Note will mature on March 1, 2024 (the "SPHG Note Maturity Date"), unless earlier repurchased by the Company or converted by the holder in accordance with their terms prior to such maturity date.

The Company has the right to prepay the SPHG Note at any time, upon 10 days' prior written notice, in whole or in part, without penalty or premium, at a price equal to 100% of the then outstanding principal amount of the SPHG Note plus accrued and unpaid interest. The SPHG Note is an unsecured and unsubordinated obligation of the Company, and will rank equal in right of payment with the Company's other unsecured and unsubordinated indebtedness, but will be effectively subordinated in right of payment to any existing and future secured indebtedness and liabilities to the extent of the value of the collateral securing those obligations, and structurally subordinated to the indebtedness and other liabilities of the Company's subsidiaries. The SPHG Note contains other customary terms and conditions, including customary events of default.

At its election, the Company may pay some or all of the interest due on each interest payment date by increasing the principal amount of the SPHG Note in the amount of such interest due or any portion thereof (such payment of interest by increasing the principal amount of the SPHG Note referred to as ("PIK Interest"), with the remaining portion of the interest due on such interest payment date (or, at the Company's election, the entire amount of interest then due) to be paid in cash by the Company. Following an increase in the principal amount of the SPHG Note as a result of a payment of PIK Interest, the SPHG Note will bear interest on such increased principal amount from and after the date of such payment of PIK Interest.

SPHG has the right to require the Company to repurchase the SPHG Note upon the occurrence of certain fundamental changes, subject to certain conditions, at a repurchase price equal to 100% of the principal amount of the SPHG Note plus accrued and unpaid interest. The Company will have the right to elect to cause the mandatory conversion of the SPHG Note in whole, and not in part, at any time on or after March 6, 2022, subject to certain conditions including that the stock price of the Company exceeds a certain threshold.

SPHG has the right, at its option, prior to the close of business on the business day immediately preceding the SPHG Note maturity date, to convert the SPHG Note or a portion thereof that is $1,000 or an integral multiple thereof, into shares of common stock (if the Company has not received a required stockholder approval) or cash, shares of common stock or a combination of cash and shares of common stock, as applicable (if the Company has received a required stockholder approval), at an initial conversion rate of 421.2655 shares of common stock, which is equivalent to an initial conversion price of approximately $2.37 per share (subject to adjustment as provided in the SPHG Note) per $1,000 principal amount of the SPHG Note (the "Conversion Rate"), subject to, and in accordance with, the settlement provisions of SPHG Note.

For any conversion of the SPHG Note, if the Company is required to obtain and has not received approval from its stockholders in accordance with NASDAQ Stock Market Rule 5635 to issue 20% or more of the total shares of common stock outstanding upon conversion (including upon any mandatory conversion) of the SPHG Note prior to the relevant conversion date (or, if earlier, the 45th Scheduled trading day immediately preceding the SPHG Note Maturity Date), the Company shall deliver to the converting holder, in respect of each $1,000 principal amount of the SPHG Note being converted, a number of shares of common stock determined by reference to the Conversion Rate, together with a cash payment, if applicable, in lieu of delivering any fractional share of common stock based on the volume weighted average price (VWAP) of its common stock on the relevant conversion date, on the third Business Day immediately following the relevant conversion date.

The Company's Board of Directors (the "Board") established a special committee (the "Special Committee"), consisting solely of independent directors not affiliated with SPHG Holdings, to review and consider a financing transaction including a transaction with SPHG. The terms and conditions of the SPHG Note Transaction were determined by the Special Committee to be fair and in the best interests of the Company, and the Special Committee recommended that the Board approve the SPHG Note Transaction and the transactions contemplated thereby. The Board approved such transactions. Warren G. Lichtenstein, our Interim Chief Executive Officer and the Executive Chairman of our Board, is also the Executive Chairman of Steel Partners Holdings GP Inc. ("Steel Holdings GP"), the manager of SPHG Holdings. Jack L. Howard and William T. Fejes, Jr., directors of the Company, are also affiliated with Steel Holdings GP. Glen Kassan, a director and our Vice Chairman of the Board and former Chief Administrative Officer, is also affiliated with Steel Holdings GP.

The Company then assessed the features of the SPHG Note and determined that the conversion features should not be bifurcated as a derivative liability, but should be accounted for under the cash conversion subsections of ASC 470.

The Company has valued the debt using similar nonconvertible debt as of the original issuance date of the SPHG Note and bifurcated the conversion option associated with the SPHG Note from the host debt instrument and recorded the conversion option of $8.2 million in stockholders' equity. The initial value of the equity component, which reflected the equity conversion feature, was equal to the initial debt discount. The resulting debt discount on the SPHG Note is being accreted to interest expense at the effective interest rate over the estimated life of the SPHG Note. The equity component is included in the additional paid-in capital portion of stockholders' equity on the Company's consolidated balance sheet. In addition, the debt issuance costs were not material. As of July 31, 2019, the if-converted value of the SPHG Note did not exceed the principal value of the SPHG Note. As of July 31, 2019, the remaining period over which the unamortized discount will be amortized is 55 months. As of July 31, 2019, the net carrying value of the SPHG Note was $7.4 million.



	July 31, 2019
	(In thousands)
Carrying amount of equity component	$	8,200

Principal amount of Note	$	14,940
Unamortized debt discount	(7,508		)
Net carrying amount	$	7,432

During the twelve months ended July 31, 2019, the Company recognized interest expense associated with the SPHG Note of $1.2 million.



	Twelve Months Ended
	July 31, 2019
	(In thousands)
Interest expense related to contractual interest coupon	$	473
Interest expense related to accretion of the discount	692
	$	1,165

The effective interest rate on the SPHG Note, including accretion of the discount, is 18.47%. The SPHG Note bears interest at 7.50%.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jul. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

The Company leases facilities and certain machinery and equipment under various non-cancelable operating leases and executory contracts expiring through December 2021. Certain non-cancelable leases are classified as capital leases and the leased assets are included in property and equipment, at cost. Future annual minimum payments as of July 31, 2019, are as follows:



	Operating Leases		Capital Lease Obligations		Purchase Obligations		Debt Principal & Interest		Total
	(In thousands)
For the fiscal years ended July 31:
2020	$	16,534	$	147	$	26,800	$	7,121	$	50,602
2021	11,755		136		—		7,121		19,012
2022	8,082		104		—		7,121		15,307
2023	4,899		37		—		364,245		369,181
2024	3,544		—		—		15,593		19,137
Thereafter	19,895		—		—		—		19,895
	$	64,709	$	424	$	26,800	$	401,201	$	493,134

Total rent and equipment lease expense charged to continuing operations was $19.0 million and $19.2 million for the fiscal years ended July 31, 2019 and 2018, respectively.

From time to time, the Company agrees to provide indemnification to its clients in the ordinary course of business. Typically, the Company agrees to indemnify its clients for losses caused by the Company. As of July 31, 2019, the Company had no recorded liabilities with respect to these arrangements.

Purchase obligations represent an estimate of all open purchase orders and contractual obligations in the ordinary course of business for which the Company has not received the goods or services. Although open purchase orders are considered enforceable and legally binding, the terms generally allow us the option to cancel, reschedule, and adjust the Company's requirements based on its business needs prior to the delivery of goods or performance of services.

Legal Proceedings

On April 13, 2018, a purported shareholder, Donald Reith, filed a verified complaint, Reith v. Lichtenstein, et al., 2018-277 (Del. Ch.) in the Delaware Court of Chancery. The complaint alleges class and derivative claims for breach of fiduciary duty and/or aiding and abetting breach of fiduciary duty and unjust enrichment against the Company's Board of Directors, Warren Lichtenstein, Glen Kassan, William T. Fejes, Jack L. Howard, Jeffrey J. Fenton, Philip E. Lengyel and Jeffrey S. Wald; and stockholders Steel Holdings, Steel Partners, L.P., SPHG Holdings, Handy & Harman Ltd. and WHX CS Corp. (collectively, "Steel Parties") in connection with the acquisition of $35 million of the Series C Convertible Preferred Stock by SPHG Holdings and equity grants made to Lichtenstein, Howard and Fejes on December 15, 2017 (collectively, "Challenged Transactions"). The Company is named as a nominal defendant. The complaint alleges that although the Challenged Transactions were approved by a Special Committee consisting of the independent members of the Board (Messrs. Fenton, Lengyel and Wald), the Steel Parties dominated and controlled the Special Committee, who approved the Challenged Transactions in breach of their fiduciary duty. Plaintiff alleges that the Challenged Transactions unfairly diluted shareholders and therefore unjustly enriched Steel Holdings, SPHG Holdings and Messrs. Lichtenstein, Howard and Fejes. The complaint also alleges that the Board made misleading disclosures in the Company's proxy statement for the 2017 Annual Meeting of Stockholders in connection with seeking approval to amend the 2010 Incentive Award Plan to authorize the issuance of additional shares to accommodate certain shares underlying the equity grants. Remedies requested include rescission of the Series C Convertible Preferred Stock and equity grants, disgorgement of any unjustly obtained property or compensation and monetary damages.

On June 8, 2018, defendants moved to dismiss the complaint for failure to plead demand futility and failure to state a claim. On June 28, 2019, the Court denied most of the motion to dismiss allowing the matter to proceed. Discovery is proceeding. We are unable at this time to provide a calculation of potential damages or litigation loss that is probable or estimable. Although there can be no assurance as to the ultimate outcome, the Company believes it has meritorious defenses, continues to deny liability, and intends to defend this litigation vigorously.

DEFINED BENEFIT PENSION PLANS

12 Months Ended

Jul. 31, 2019

Retirement Benefits [Abstract]

DEFINED BENEFIT PENSION PLANS

As of July 31, 2019, the Company sponsored two defined benefit pension plans covering certain of its employees in its Netherlands facility and one unfunded defined benefit pension plan covering certain of its employees in Japan. Pension costs are actuarially determined.

The plan assets are primarily related to the defined benefit plan associated with the Company's Netherlands facility. It consists of an insurance contract that guarantees the payment of the funded pension entitlements. Insurance contract assets are recorded at fair value, which is determined based on the cash surrender value of the insured benefits which is the present value of the guaranteed funded benefits. Insurance contracts are valued using unobservable inputs, primarily by discounting expected future cash flows relating to benefits paid from a notional investment portfolio in order to determine the cash surrender value of the policy. The following table presents the plan assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	26,651	98	%	$	—	$	—	$	26,651
Other investments	616		2	%	—		—		616
	$	27,267	100	%	$	—	$	—	$	27,267



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	22,339	98	%	$	—	$	—	$	22,339
Other investments	521		2	%	—		—		521
	$	22,860	100	%	$	—	$	—	$	22,860

The aggregate change in benefit obligation and plan assets related to these plans was as follows:



	July 31,
	2019			2018
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	29,849		$	27,464
Service cost	365			398
Interest cost	633			671
Actuarial loss	5,125			1,655
Employee contributions	72			93
Benefits and administrative expenses paid	(197		)	(372		)
Adjustments	(20		)	(54		)
Settlements	—			(21		)
Currency translation	(1,289		)	15
Benefit obligation at end of year	34,538			29,849
Change in plan assets
Fair value of plan assets at beginning of year	22,860			21,204
Actual return on plan assets	5,136			1,541
Employer contributions, net	422			402
Employee contributions	73			92
Settlements	(19		)	(21		)
Benefits and administrative expenses paid	(197		)	(372		)
Currency translation	(1,008		)	14
Fair value of plan assets at end of year	27,267			22,860
Funded status
Current liability	(13		)	(13		)
Noncurrent liability	(7,259		)	(6,976		)
Net amount recognized in statement of financial position as a noncurrent liability	$	(7,272	)	$	(6,989	)

The accumulated benefit obligation was approximately $32.4 million and $27.7 million at July 31, 2019 and 2018, respectively.

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:



	July 31,
	2019		2018
	(In thousands)
Projected benefit obligation	$	34,538	$	29,849
Accumulated benefit obligation	$	32,361	$	27,700
Fair value of plan assets	$	27,267	$	22,860

Components of net periodic pension cost were as follows:



	Twelve months ended July 31,
	2019			2018
	(In thousands)
Service cost	$	365		$	398
Interest costs	633			671
Expected return on plan assets	(492		)	(529		)
Amortization of net actuarial loss	127			125
Net periodic pension costs	$	633		$	665

The amount included in accumulated other comprehensive income expected to be recognized as a component of net periodic pension costs in fiscal year 2020 is approximately $4.9 million related to amortization of a net actuarial loss and prior service cost.

Assumptions:

Weighted-average assumptions used to determine benefit obligations was as follows:



	Twelve months ended July 31,
	2019		2018
Discount rate	1.48	%	2.22	%
Rate of compensation increase	1.97	%	1.93	%

Weighted-average assumptions used to determine net periodic pension cost was as follows:



	Twelve months ended July 31,
	2019		2018
Discount rate	1.46	%	2.21	%
Expected long-term rate of return on plan assets	1.45	%	2.20	%
Rate of compensation increase	1.92	%	1.94	%

The discount rate reflects the Company's best estimate of the interest rate at which pension benefits could be effectively settled as of the valuation date. It is based on the Mercer Yield Curve for the Eurozone as per July 31, 2019 for the appropriate duration of the plan.

To develop the expected long-term rate of return on assets assumptions consideration is given to the current level of expected returns on risk free investments, the historical level of risk premium associated with the other asset classes in which the portfolio is invested and the expectations for the future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets assumption for the portfolio.

Benefit payments:

The following table summarizes expected benefit payments from the plans through fiscal year 2024. Actual benefit payments may differ from expected benefit payments. The minimum required contributions to the plans are expected to be approximately $0.4 million in fiscal year 2020.



	Pension Benefit Payments
	(in thousands)
For the fiscal year ended July 31:
2020	205
2021	247
2022	245
2023	294
2024	444
Next 5 years	2,436

The current target allocations for plan assets are primarily insurance contracts. The market value of plan assets using Level 3 inputs is approximately $27.3 million.

Valuation Technique:

Benefit obligations are computed using the projected unit credit method. Benefits are attributed to service based on the plan's benefit formula. Cumulative gains and losses in excess of 10% of the greater of the pension benefit obligation or market-related value of plan assets are amortized over the expected average remaining future service of the current active membership.

REVENUE RECOGNITION

12 Months Ended

Jul. 31, 2019

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION


	REVENUE RECOGNITION

Adoption of ASC Topic 606, "Revenue from Contracts with Customers"

Revenue Recognition

Disaggregation of Revenue

The following table presents the Company's revenues disaggregated by major good or service line, timing of revenue recognition, and sales channel. The table also includes a reconciliation of the disaggregated revenue with the reportable segments.



	Twelve Months Ended July 31, 2019
	Supply Chain		Direct Marketing		Consolidated Total
	(In thousands)
Major Goods/Service Lines
Supply chain management services	$	331,022	$	—	$	331,022
Marketing solutions offerings	—		486,902		486,902
Other	1,906		—		1,906
	$	332,928	$	486,902	$	819,830
Timing of Revenue Recognition
Goods transferred over time	$	—	$	486,902	$	486,902
Services transferred over time	332,928		—		332,928
	$	332,928	$	486,902	$	819,830
Total Revenue
Revenue from contracts with customers	$	332,928	$	486,902	$	819,830
	$	332,928	$	486,902	$	819,830

Over the fiscal year ended July 31, 2019, the Company had no revenue recognized at a point in time.

Prior period amounts have not been adjusted under the modified retrospective method.

Supply chain management services.

Marketing solutions offerings.

Other.

Significant Judgments

Practical Expedients and Exemptions

The Company has elected to make the following accounting policy elections through the adoption of the following practical expedients:

Right to Invoice

Where applicable, the Company will recognize revenue from a contract with a customer in an amount that corresponds directly with the value to the customer of the Company's performance completed to date and the amount to which the entity has a right to invoice.

Sales and Other Similar Taxes

The Company will exclude sales taxes and similar taxes from the measurement of transaction price and will ensure that it complies with the disclosure requirements of ASC 235-10-50-1 through 50-6.

Significant Financing Component

The Company will not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less.

Cost to Obtain a Contract

The Company will recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less and there are no renewal periods on which the Company does not pay commissions that are not commensurate with those originally paid.

Promised Goods or Services that are Immaterial in the Context of a Contract

The Company has elected to assess promised goods or services as performance obligations that are deemed to be immaterial in the context of a contract. As such, the Company will not aggregate and assess immaterial items at the entity level. That is, when determining whether a good or service is immaterial in the context of a contract, the assessment will be made based on the application of ASC 606 at the contract level.

Contract Balances

Timing of revenue recognition may differ from timing of invoicing to customers. The Company records contract assets and liabilities related to its contracts with customers as follows:


•	Accounts receivable when revenue is recognized prior to receipt of cash payments and if the right to such amounts is unconditional and solely based on the passage of time.

•

Contract asset when the Company recognizes revenue based on efforts expended but the right to such amount is conditional upon satisfaction of another performance obligation. Contract assets are primarily comprised of fees related to marketing solutions offerings and supply chain management services. The Company notes that its contract assets are all short-term in nature and are included in prepaid expenses and other current assets in the Company's consolidated balance sheets.

•

Deferred revenue when cash payments are received or due in advance of performance. Deferred revenue is primarily comprised of fees related to supply chain management services, cloud-based software subscriptions and software maintenance and support service contracts, which are generally billed in advance. Deferred revenue also includes other offerings for which we have been paid in advance and earn the revenue when we transfer control of the product or service. The deferred revenue balance is classified as a component of other current liabilities and other long-term liabilities on the Company's consolidated balance sheets.

The opening balance of contract assets was $24.0 million as of August 1, 2018. As of July 31, 2019, the contract asset balance was $21.5 million, which is recorded as a component of prepaid expenses and other current assets. Contract assets are classified as accounts receivable, trade, upon billing to the customer where such amounts become unconditional.

The opening balance of current deferred revenue and long-term deferred revenue was $3.7 million and $0.2 million, respectively, as of August 1, 2018. As of July 31, 2019, current deferred revenue and long-term deferred revenue was $2.9 million and $0.1 million, respectively.

Changes in deferred revenue during the twelve months ended July 31, 2019, were as follows (in thousands):



Twelve Months Ended July 31, 2019
Balance at beginning of period	$	3,858
Deferral of revenue	4,624
Recognition of deferred amounts upon satisfaction of performance obligation	(5,453		)
Balance at end of period	$	3,029

We expect to recognize approximately $2.9 million of the unearned amount over the twelve months ended July 31, 2020 and the remaining $0.1 million beyond July 31, 2020.

Assets Recognized from the Costs to Obtain a Contract with a Customer

Prior to the adoption of Topic 606, the Company expensed incremental costs to obtain a contract, which represented commissions, as the liability was incurred. In accordance with Topic 606, the Company recognizes an asset for the incremental costs of obtaining a contract with a customer if the period over which such costs would be amortized is greater than one year. The Company has determined that certain commissions programs meet the requirements to be capitalized. However, as of August 1, 2018, the total commission expense that had been incurred under the commissions programs identified was not material and therefore, the Company determined that no amounts were required to be capitalized at the date of adoption. For the twelve months ended July 31, 2019, the total commission expense that had been incurred under the commissions programs identified was not material and the Company determined that no amounts were required to be capitalized at July 31, 2019.

The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.

The cumulative effect of the changes made to the Company's consolidated August 1, 2018 balance sheet for the adoption of Topic 606 were as follows (in thousands):



Balance Sheet
	July 31, 2018			Adjustments Due to ASU 2014-09			August 1, 2018
Assets
Inventories, net	$	47,786		$	(21,233	)	$	26,553
Prepaid expenses and other current assets	13,415			24,041			37,456
Total current assets	264,281			2,808			267,089
Total assets	$	827,050		$	2,808		$	829,858
Liabilities
Other current liabilities	$	42,029		$	(3,330	)	$	38,699
Total current liabilities	276,356			(3,330		)	273,026
Total liabilities	684,230			(3,330		)	680,900
Stockholders' equity
Accumulated deficit	(7,363,569		)	6,138			(7,357,431		)
Total stockholders' equity	107,628			6,138			113,766
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$	827,050		$	2,808		$	829,858

The Company reduced opening accumulated deficit by $6.1 million as of August 1, 2018 due to the cumulative impact of adopting Topic 606, with the impact attributable to the acceleration of revenue related to ModusLink's supply chain management services arrangements and IWCO's marketing solutions offerings where the Company previously recognized revenues upon completion of all services and historically recognized revenue at a point in time (generally upon product shipment or when the products were complete). The adoption of ASC 606 primarily resulted in an acceleration of revenue as of August 1, 2018, which in turn generated additional deferred tax liabilities that ultimately reduced the Company's net deferred tax asset position. As the Company fully reserves its net deferred tax assets in the jurisdictions impacted by the adoption of Topic 606, this impact was offset by a corresponding reduction to the valuation allowance.

In accordance with the requirements of the new standard, the disclosure of the impact of the adoption on the Company's consolidated balance sheet and statement of operations was as follows (in thousands, except per share amounts):



Balance Sheet:	July 31, 2019
	As Reported			Balances without Adoption of ASC 606			Effect of Change Higher/(Lower)
Assets
Inventories, net	$	23,674		$	45,853		$	(22,179	)
Prepaid expenses and other current assets	31,445			9,973			21,472
Total current assets	213,324			214,031			(707		)
Total assets	$	731,563		$	732,270		$	(707	)
Liabilities
Other current liabilities	$	39,046		$	46,641		$	(7,595	)
Total current liabilities	256,850			264,445			(7,595		)
Total liabilities	643,685			651,280			(7,595		)
Stockholders' equity
Accumulated deficit	(7,426,287		)	(7,433,175		)	6,888
Total stockholders' equity	52,692			45,804			6,888
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$	731,563		$	732,270		$	(707	)



Statement of Operations:	Twelve months ended July 31, 2019
	As Reported			Balances without Adoption of ASC 606			Effect of Change Higher/(Lower)
Net revenue	$	819,830		$	818,134		$	1,696
Cost of revenue	670,100			669,154			946
Gross profit	149,730			148,980			750
Loss before income taxes	(62,099		)	(62,849		)	750
Net loss	(66,727		)	(67,477		)	750
Net loss attributable to common stockholders	$	(68,856	)	$	(69,606	)	$	750
Basic and diluted net loss per share attributable to common stockholders:	$	(1.13	)	$	(1.14	)	$	0.01

The impact to revenues for the twelve month period ended July 31, 2019 was an increase of $1.7 million as a result of applying Topic 606 primarily related to the acceleration of revenue related to IWCO's marketing solutions arrangements for certain contracts with customers that under Topic 606 are being recognized over time based on an input method of efforts expended which depicts the transfer of value to the customer.

OTHER GAINS (LOSSES), NET

12 Months Ended

Jul. 31, 2019

Other Income and Expenses [Abstract]

OTHER GAINS (LOSSES), NET

The following schedule reflects the components of "Other gains (losses), net":



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Foreign currency exchange gains, net	$	337		$	1,055
Derecognition of accrued pricing liabilities	4,573			—
Gain, net on Trading Securities	—			1,876
Other, net	(307		)	(708		)
	$	4,603		$	2,223

Other gains, net totaled approximately $4.6 million for the fiscal year ended July 31, 2019. During the fiscal year ended July 31, 2019, the Company recorded gains of $4.6 million from the derecognition of accrued pricing liabilities, as discussed in Note 6. The balance consists primarily of $0.3 million in net realized and unrealized foreign exchange gains, offset by $(0.3) million in other losses, net.

Other gains, net totaled approximately $2.2 million for the fiscal year ended July 31, 2018. The balance consists primarily of $1.9 million in net gains associated with the sale of publicly traded securities and $1.1 million in net realized and unrealized foreign exchange gains, offset by other gain and losses.

SHARE-BASED PAYMENTS

12 Months Ended

Jul. 31, 2019

Share-based Payment Arrangement [Abstract]

SHARE-BASED PAYMENTS

Stock Option Plans

During the fiscal year ended July 31, 2019, the Company had outstanding awards for stock options under two plans: the 2010 Incentive Award Plan, as amended (the "2010 Plan") and the 2005 Non-Employee Director Plan (the "2005 Plan"). Historically, the Company has had the 2004 Stock Incentive Plan (the "2004 Plan"), the 2002 Non-Officer Employee Stock Incentive Plan (the "2002 Plan"), and the 2000 Stock Incentive Plan (the "2000 Plan"). Options granted under the 2010 Plan are generally exercisable as to 25% of the shares underlying the options beginning one year after the date of grant, with the options being exercisable as to the remaining shares in equal monthly installments over the next three years. The Company may also grant awards other than stock options under the 2010 Plan. Options granted under the 2005 Plan are exercisable in equal monthly installments over three years, and have a term of ten years. As of December 2010, no additional grants may be issued under this plan. Stock options granted under all other plans have contractual terms of seven years.

On December 15, 2017, under the 2010 Plan, the Board of Directors of the Company, upon the recommendation of the Special Committee and the Compensation Committee, approved 4.0 million restricted stock grants and 1.5 million market performance based restricted stock grants to non-employee directors of the Company. The 4.0 million restricted stock vested immediately on the grant date. The 1.5 million market performance based restricted stock grants do not expire and vest upon the attainment of target stock price hurdles. As of July 31, 2019, 1.0 million of the market performance based restricted stock grants had met the target stock price hurdles.

Under the 2010 Plan, pursuant to which the Company may grant stock options, stock appreciation rights, restricted stock awards and other equity-based awards for the issuance of (i) 11,000,000 shares of common stock of the Company plus (ii) the number of shares subject to outstanding awards under the Company's 2000 Plan, 2002 Plan and 2004 Plan (collectively, the "Prior Plans") that expire or are forfeited following December 8, 2010, the effective date of the 2010 Plan. As of December 8, 2010, the Company ceased making any further awards under its Prior Plans. As of December 8, 2010, the effective date of the 2010 Plan, there were an additional 2,922,258 shares of common stock underlying equity awards issued under the Company's Prior Plans. This amount represents the maximum number of additional shares that may be added to the 2010 Plan should these awards expire or be forfeited subsequent to December 8, 2010. Any awards that were outstanding under the Prior Plans as of the effective date continued to be subject to the terms and conditions of such Prior Plan. As of July 31, 2019, 4,498,546 shares were available for future issuance under the 2010 Plan.

The Board of Directors administers all stock plans, approves the individuals to whom options will be granted, and determines the number of shares and exercise price of each option and may delegate this authority to a committee of the Board or to certain officers of the Company in accordance with SEC regulations and applicable Delaware law.

Employee Stock Purchase Plan

The Company offers to its employees an Employee Stock Purchase Plan, (the "ESPP") under which an aggregate of 600,000 shares of the Company's stock may be issued. Employees who elect to participate in the ESPP instruct the Company to withhold a specified amount through payroll deductions during each quarterly period. On the last business day of each applicable quarterly payment period, the amount withheld is used to purchase the Company's common stock at a purchase price equal to 85% of the lower of the market price on the first or last business day of the quarterly period. During the fiscal years ended July 31, 2019 and 2018, the Company issued approximately 17,000 and 10,000 shares, respectively, under the ESPP. Approximately 109,000 shares are available for future issuance as of July 31, 2019.

Stock Option Valuation and Expense Information

The following table summarizes share-based compensation expense related to employee stock options, employee stock purchases and nonvested shares for the fiscal years ended July 31, 2019 and 2018:



	Twelve Months Ended July 31,
	2019		2018
Cost of revenue	$	—	$	14
Selling, general and administrative	1,267		10,787
	$	1,267	$	10,801

The Company estimates the fair value of stock option awards on the date of grant using a binomial-lattice model. No employee stock options were granted during the fiscal years ended July 31, 2019 and 2018.

As share-based compensation expense recognized in the Consolidated Statements of Operations for the fiscal years ended July 31, 2019 and 2018 is based on awards ultimately expected to vest. In accordance with ASU 2016-09, the Company has elected to true up for forfeitures as they occur.

Stock Options

A summary of option activity for the fiscal year ended July 31, 2019 is as follows:



	Number of Shares		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
	(in thousands, except exercise price and years)
Stock options outstanding, July 31, 2018	438		$	3.99
Granted	—		—
Exercised	—		—
Forfeited or expired	(113	)	3.74
Stock options outstanding, July 31, 2019	325		4.07		1.12	$	—
Stock options exercisable, July 31, 2019	325		$	4.07	1.12	$	—

As of July 31, 2019, unrecognized share-based compensation related to stock options was immaterial.

As of July 31, 2019, there were 0.3 million stock options that were vested and expected to vest in the future with a weighted- average remaining contractual term of 1.1 years. The aggregate intrinsic value of these awards is immaterial.

Nonvested Stock

Nonvested stock consists of shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. Nonvested stock is expensed ratably over the term of the restriction period, ranging from one to five years unless there are performance restrictions placed on the nonvested stock, in which case the nonvested stock is expensed using graded vesting. Nonvested stock compensation expense for the fiscal years ended July 31, 2019 and 2018 was $1.2 million and $10.7 million, respectively.

A summary of the activity of the Company's nonvested stock for the fiscal year ended July 31, 2019, is as follows:



	Number of Shares		Weighted-Average Grant Date Fair Value
	(share amounts in thousands)
Nonvested stock outstanding, July 31, 2018	1,165		$	0.44
Granted	405		1.73
Vested	(1,165	)	0.44
Forfeited	—		—
Nonvested stock outstanding, July 31, 2019	405		$	1.73

The fair value of nonvested shares is determined based on the market price of the Company's common stock on the grant date. The total grant date fair value of nonvested stock that vested during the fiscal years ended July 31, 2019 and 2018 was approximately $0.5 million and $11.5 million, respectively. As of July 31, 2019, there was approximately $0.3 million of total unrecognized compensation cost related to nonvested stock to be recognized over a weighted-average period of 0.4 years.

INCOME TAXES

12 Months Ended

Jul. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of loss from continuing operations before provision for income taxes are as follows:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Income (loss) from operations before income taxes:
U.S.	$	(68,959	)	$	(60,574	)
Foreign	6,860			25,286
Total loss from operations before income taxes	$	(62,099	)	$	(35,288	)

The components of income tax expense have been recorded in the Company's consolidated financial statements as follows:



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Income tax expense (benefit) from operations	$	4,670	$	(71,202	)
Total income tax expense (benefit)	$	4,670	$	(71,202	)

The components of income tax expense from operations consist of the following:



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Current provision
Federal	$	—	$	—
State	288		—
Foreign	1,525		7,592
	1,813		7,592
Deferred provision:
Federal	1,563		(76,168		)
State	753		(2,352		)
Foreign	541		(274		)
	2,857		(78,794		)
Total tax provision	$	4,670	$	(71,202	)

During the year ended July 31, 2017, the Company elected to early adopt ASU No. 2015-17, which requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. This guidance allows for adoption on either a prospective or retrospective basis. As of July 31, 2019, the Company recorded a non-current deferred tax asset of $1.0 million and a non-current deferred tax liability of $0.1 million in Other Assets, and Other Long-term Liabilities, respectively. As of July 31, 2018, the Company recorded a non-current deferred tax asset of $1.6 million and a non-current deferred tax liability of $0.1 million in Other Assets and Other Long-term Liabilities, respectively. The components of deferred tax assets and liabilities are as follows:



	July 31, 2019			July 31, 2018
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	21,297		$	16,070
Tax basis in excess of financial basis of investments in affiliates	6,534			6,232
Tax basis in excess of financial basis for intangible and fixed assets	187			311
Net operating loss and capital loss carry forwards	469,735			468,129
Total gross deferred tax assets	497,753			490,742
Less: valuation allowance	(451,189		)	(438,467		)
Net deferred tax assets	$	46,564		$	52,275
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	$	(43,885	)	$	(50,141	)
Convertible Debt	(1,761		)	(634		)
Total gross deferred tax liabilities	(45,646		)	(50,775		)
Net deferred tax asset	$	918		$	1,500

The net change in the total valuation allowance for the fiscal year ended July 31, 2019 was an increase of approximately $12.7 million. This increase is primarily due to the U.S. valuation allowance. A valuation allowance has been recorded against the gross deferred tax asset in the U.S and certain foreign subsidiaries since management believes that after considering all the available objective evidence, both positive and negative, historical and prospective, it is more likely than not that certain assets will not be realized. The net change in the total valuation allowance for the fiscal year ended July 31, 2018 was a decrease of approximately $333.4 million.

The Company has certain deferred tax benefits, including those generated by net operating losses and certain other tax attributes (collectively, the "Tax Benefits"). The Company's ability to use these Tax Benefits could be substantially limited if it were to experience an "ownership change," as defined under Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"). In general, an ownership change would occur if there is a greater than 50-percentage point change in ownership of securities by stockholders owning (or deemed to own under Section 382 of the Code) five percent or more of a corporation's securities over a rolling three year period.

In December 2017, the Tax Cuts and Jobs Act, or the Tax Act ("TCJA"), was signed into law. Among other things, the Tax Act permanently lowers the corporate federal income tax rate to 21% from the existing maximum rate of 35%, effective for tax years including or commencing January 1, 2018. As a result of the reduction of the corporate federal income tax rate to 21%, U.S. GAAP requires companies to revalue their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. This revaluation resulted in a provision of $280.4 million to income tax expense in continuing operations and a corresponding reduction in the valuation allowance. As a result, there was no impact to the Company's income statement as a result of reduction in tax rates. The total provision of $280.4 million included a provision of $305.9 million to income tax expense for the Company and a benefit of $25.5 million to income tax expense for IWCO. As noted above, the net tax expense of $280.4 was offset completely by a corresponding reduction in the valuation allowance

Beginning on January 1, 2018, the TCJA also requires a minimum tax on certain future earnings generated by foreign subsidiaries while providing for future tax-free repatriation of such earnings through a 100% dividends-received deduction. Other provisions of the TCJA for the Company in FY2019 include updated regulations under Section 163j as well as Global Intangible Low Taxed Income ("GILTI") as well as Base Erosion Anti-Abuse Tax ("BEAT") provisions. The Company's interest expense deduction under 163j will be limited for tax purposes based on calculation of 30% of its EBITDA on a tax basis. The Company has estimated its fiscal year 2019 GILTI inclusion based on its current year foreign activity. The foreign entities have minor E&P adjustments that will be factored in as part of the tax return filing. These amounts are not material and will not have a significant impact on the overall tax provision or disclosure. Due to the net operating losses available in the U.S., the Company is not entitled to a Section 250 deduction which is why the total income amount has been recorded as the GILTI inclusion. The Company has made an accounting policy election, as allowed by the SEC and FASB, to recognize the impact of GILTI within the period incurred. Therefore, no U.S. deferred taxes are provided in GILTI inclusions of future foreign subsidiary earnings.

The TCJA also requires a Transition Tax on any net accumulated earnings and profits as of the two required measurement dates, November 2, 2017 and December 31, 2017. As such, as of July 31, 2018, all of the Company's accumulated earnings and profits are deemed repatriated. Therefore, there is no deferred tax liability for earnings oversees that have not been remitted. The final calculation of net accumulated earnings and profits resulted in an accumulated deficit, and therefore did not result in a Transition Tax. This calculation was finalized with the filing of the fiscal year 2018 tax return.

In December 2017, the SEC staff issued Staff Accounting Bulletin, or SAB, No. 118 to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for income tax effects of the TCJA. As of December 31, 2018, the Company finalized its accounting for the TCJA and no measurement adjustments were recorded.

As more fully described in Note 4, the Company completed the IWCO Acquisition on December 15, 2017. Going forward, the Company and IWCO will file a consolidated federal tax return. As a result of the acquisition, the Company recorded a net deferred tax liability of $77.0 million. After considering the transaction, the projected combined results, and available temporary differences from the acquired business, the Company has determined in accordance with ASC 805-740-30-3 that its valuation allowance in the same amount of IWCO's full deferred tax liability may be released and the benefit be recognized in income.

The Company has net operating loss carryforwards for federal and state tax purposes of approximately $2.1 billion and $160.0 million, respectively, at July 31, 2019. The federal net operating losses will expire from fiscal year 2022 through 2038 and the state net operating losses will expire from fiscal year 2018 through 2039. The Company has a foreign net operating loss carryforward of approximately $72.6 million, of which $56.7 million has an indefinite carryforward period. In addition, the Company has $19.4 million of capital loss carryforwards for federal and state tax purposes. The federal and state capital losses will expire in fiscal year 2020 through fiscal year 2021.

Income tax expense attributable to income from continuing operations differs from the expense computed by applying the U.S. federal income tax rate of 21.0% to income (loss) from continuing operations before income taxes as a result of the following:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Computed "expected" income tax expense (benefit)	$	(13,041	)	$	(9,467	)
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	16,158			(329,415		)
Foreign dividends	—			7,379
Foreign tax rate differential	(593		)	(1,948		)
Federal rate change	—			280,438
Nondeductible goodwill impairment	—			191
Nondeductible expenses	2,484			(15,852		)
Foreign withholding taxes	336			1,961
Addition (reversal) of uncertain tax position reserves	645			(48		)
State benefit of U.S. Loss	—			(4,654		)
State income taxes, net of federal benefit	113			—
Other	(1,432		)	213
Actual income tax expense	$	4,670		$	(71,202	)

The calculation of the Company's income tax liabilities involves dealing with uncertainties in the application of complex tax regulations in several tax jurisdictions. The Company is periodically reviewed by domestic and foreign tax authorities regarding the amount of taxes due. These reviews include questions regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions. In evaluating the exposure associated with various filing positions, the Company records estimated reserves when necessary. Based on the evaluation of current tax positions, the Company believes it has appropriately accrued for exposures.

The Company operates in multiple taxing jurisdictions, both within and outside of the United States. At July 31, 2019 and 2018, the total amount of the liability for unrecognized tax benefits, including interest, related to federal, state and foreign taxes was approximately $2.4 million and $1.6 million, respectively. To the extent the unrecognized tax benefits are recognized, the entire amount would impact income tax expense.

The Company files income tax returns in the U.S., various states and in foreign jurisdictions. The federal and state income tax returns are generally subject to tax examinations for the tax years ended July 31, 2015 through July 31, 2019. To the extent the Company has tax attribute carryforwards, the tax year in which the attribute was generated may still be adjusted upon examination by the Internal Revenue Service or state tax authorities to the extent utilized in a future period. In addition, a number of tax years remain subject to examination by the appropriate government agencies for certain countries in the Europe and Asia regions. In Europe, the Company's 2011 through 2018 tax years remain subject to examination in most locations while the Company's 2007 through 2018 tax years remain subject to examination in most Asia locations.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Balance as of beginning of year	$	1,525		$	681
Additions for current year tax positions	704			903
Currency translation	(22		)	—
Reductions for lapses in statute of limitations	—			(59		)
Balance as of end of year	$	2,207		$	1,525

In accordance with the Company's accounting policy, interest related to income taxes is included in the provision of income taxes line of the Consolidated Statements of Operations. For the fiscal year ended July 31, 2019, the Company has not recognized any material interest expense related to uncertain tax positions. As of July 31, 2019 and 2018, the Company had recorded liabilities for increases in interest expense related to uncertain tax positions in the amount of $0.2 million and $0.1 million, respectively. The Company did not accrue for penalties related to income tax positions as there were no income tax positions that required the Company to accrue penalties. The Company does not expect that any unrecognized tax benefits will reverse in the next twelve months.

ACCUMULATED OTHER COMPREHENSIVE INCOME

12 Months Ended

Jul. 31, 2019

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

The components of accumulated other comprehensive income, net of income taxes, are as follows:



	Foreign currency items			Pension items			Unrealized gains (losses) on securities			Total
	(In thousands)
Accumulated other comprehensive income (loss) at July 31, 2018	$	6,348		$	(3,795	)	$	181		$	2,734
Foreign currency translation adjustment	(1,331		)	—			—			(1,331		)
Net unrealized holding loss on securities	—			—			(85		)	(85		)
Pension liability adjustments	—			(284		)	—			(284		)
Net current-period other comprehensive loss	(1,331		)	(284		)	(85		)	(1,700		)
Accumulated other comprehensive income (loss) at July 31, 2019	$	5,017		$	(4,079	)	$	96		$	1,034

In the fiscal years ended July 31, 2019 and 2018, the Company recorded approximately $0.1 million and $0.1 million, respectively, in taxes related to other comprehensive income.

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2019

Supplemental Cash Flow Elements [Abstract]

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

The amount of cash, cash equivalents and restricted cash as of July 31, 2019 and 2018 in the consolidated statements of cash flows is reconciled to the Company's consolidated balance sheets as follows:



	July 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	32,548	$	92,138
Funds held for clients	13,516		11,688
Cash, cash equivalents and restricted cash	$	46,064	$	103,826

Cash used for operating activities reflect cash payments for interest and income taxes as follows:



	Years Ended July 31,
	2019		2018
	(In thousands)
Cash paid for interest	$	38,525	$	24,642
Cash paid for income taxes	$	5,451	$	2,567

Cash paid for taxes can be higher than income tax expense as shown on the Company's consolidated statements of operations due to prepayments made in certain jurisdictions as well as to the timing of required payments in relation to recorded expense, which can cross fiscal years.

Non-cash Activities

Non-cash financing activities during the fiscal years ended July 31, 2019 and 2018 included the issuance of approximately 0.4 million and 6.7 million shares, respectively, of non-vested common stock, valued at approximately $0.7 million and $11.5 million, respectively, to certain employees and non-employees of the Company.

STOCKHOLDERS' EQUITY

12 Months Ended

Jul. 31, 2019

Equity [Abstract]

STOCKHOLDERS' EQUITY

Preferred Stock

The Company's Board has the authority, subject to any limitations prescribed by Delaware law, to issue shares of preferred stock in one or more series and to fix and determine the designation, privileges, preferences and rights and the qualifications, limitations and restrictions of those shares, including dividend rights, conversion rights, voting rights, redemption rights, terms of sinking funds, liquidation preferences and the number of shares constituting any series or the designation of the series, without any further vote or action by the stockholders. Any shares of the Company's preferred stock so issued may have priority over its common stock with respect to dividend, liquidation and other rights. The Board may authorize the issuance of preferred stock with voting rights or conversion features that could adversely affect the voting power or other rights of the holders of its common stock. Although the issuance of preferred stock could provide us with flexibility in connection with possible acquisitions and other corporate purposes, under some circumstances, it could have the effect of delaying, deferring or preventing a change of control.

On December 15, 2017, the Company entered into a Preferred Stock Purchase Agreement (the "Purchase Agreement") with SPHG Holdings, pursuant to which the Company issued 35,000 shares of the Company's newly created Series C Convertible Preferred Stock, par value $0.01 per share (the "Preferred Stock"), to SPHG Holdings at a price of $1,000 per share, for an aggregate purchase consideration of $35.0 million (the "Preferred Stock Transaction"). The terms, rights, obligations and preferences of the Preferred Stock are set forth in a Certificate of Designations, Preferences and Rights of Series C Convertible Preferred Stock of the Company (the "Series C Certificate of Designations"), which has been filed with the Secretary of State of the State of Delaware.

Under the Series C Certificate of Designations, each share of Preferred Stock can be converted into shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), at an initial conversion price equal to $1.96 per share, subject to appropriate adjustments for any stock dividend, stock split, stock combination, reclassification or similar transaction. Holders of the Preferred Stock will also receive dividends at 6% per annum payable, at the Company's option, in cash or Common Stock. If at any time the closing bid price of the Company's Common Stock exceeds 170% of the conversion price for at least five consecutive trading days (subject to appropriate adjustments for any stock dividend, stock split, stock combination, reclassification or similar transaction), the Company has the right to require each holder of Preferred Stock to convert all, or any whole number, of shares of the Preferred Stock into Common Stock.

Upon the occurrence of certain triggering events such as a liquidation, dissolution or winding up of the Company, either voluntary or involuntary, or the merger or consolidation of the Company or significant subsidiary, or the sale of substantially all of the assets or capital stock of the Company or a significant subsidiary, the holders of the Preferred Stock are entitled to receive, prior and in preference to any distribution of any of the assets or funds of the Company to the holders of other equity or equity equivalent securities of the Company other than the Preferred Stock by reason of their ownership thereof, an amount per share in cash equal to the sum of (i) one hundred percent (100)% of the stated value per share of Preferred Stock (initially $1,000 per share) then held by them (as adjusted for any stock split, stock dividend, stock combination or other similar transactions with respect to the Preferred Stock), plus (ii) 100% of all declared but unpaid dividends, and all accrued but unpaid dividends on each such share of Preferred Stock, in each case as the date of the triggering event. On or after December 15, 2022, each holder of Preferred Stock can also require the Company to redeem its Preferred Stock in cash at a price equal to the Liquidation Preference (as defined in Series C Certificate of Designations).

Each holder of Preferred Stock has a vote equal to the number of shares of Common Stock into which its Preferred Stock would be convertible as of the record date, provided that the number of shares voted is based upon a conversion price which is no less than the greater of the book or market value of the Common Stock on the closing date of the purchase of the Preferred Stock. In addition, for so long as the Preferred Stock remains outstanding, the Company will not, directly or indirectly, and including in each case with respect to any significant subsidiary, without the affirmative vote of the holders of a majority of the Preferred Stock (i) liquidate, dissolve or wind up the Company or any significant subsidiary; (ii) consummate any transaction that would constitute or result in a Liquidation Event (as defined in the Series C Certificate of Designations); (iii) effect or consummate any Prohibited Issuance (as defined in the Series C Certificate of Designations); or (iv) create, incur, assume or suffer to exist any Indebtedness (as defined in the Series C Certificate of Designations) of any kind, other than certain existing Indebtedness of the Company and any replacement financing thereto, unless any such replacement financing be on substantially similar terms as such existing Indebtedness.

The Purchase Agreement provides that the Company will use its commercially reasonable efforts to effect the piggyback registration of the Common Stock issuable on the conversion of the Preferred Stock and any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing, with the SEC in all states reasonably requested by the holder in accordance with certain enumerated conditions. The Purchase Agreement also contains other representations, warranties and covenants, customary for an issuance of Preferred Stock in a private placement of this nature.

The Preferred Stock Transaction was approved and recommended to the Board by the Special Committee of the Board consisting of independent directors not affiliated with Steel Holdings GP, which controls the power to vote and dispose of the securities held by SPHG Holdings and its affiliates.

Common Stock

Each holder of the Company's common stock is entitled to:


•	one vote per share on all matters submitted to a vote of the stockholders, subject to the rights of any preferred stock that may be outstanding;


•	dividends as may be declared by the Company's Board out of funds legally available for that purpose, subject to the rights of any preferred stock that may be outstanding; and


•	a pro rata share in any distribution of the Company's assets after payment or providing for the payment of liabilities and the liquidation preference of any outstanding preferred stock in the event of liquidation.

Holders of the Company's common stock have no cumulative voting rights, redemption rights or preemptive rights to purchase or subscribe for any shares of its common stock or other securities. All of the outstanding shares of common stock are fully paid and nonassessable. The rights, preferences and privileges of holders of its common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any existing series of preferred stock and any series of preferred stock that the Company may designate and issue in the future. There are no redemption or sinking fund provisions applicable to the Company's common stock.

On March 12, 2013, stockholders of the Company approved the sale of 7,500,000 shares of newly issued common stock to Steel Partners Holdings L.P. ("Steel Holdings"), an affiliate of SPHG Holdings, at a price of $4.00 per share, resulting in aggregate proceeds of $30.0 million before transaction costs. The Company incurred $2.3 million of transaction costs, which consisted primarily of investment banking and legal fees, resulting in net proceeds from the sale of $27.7 million. In addition, as part of the transaction, the Company issued Steel Holdings a warrant to acquire an additional 2,000,000 shares at an exercise price of $5.00 per share (the "Warrant"). These warrants were to expire after a term of five years after issuance. On December 15, 2017, contemporaneously with the closing of the Preferred Stock Transaction, the Company entered into a Warrant Repurchase Agreement (the "Warrant Repurchase Agreement") with Steel Holdings pursuant to which the Company repurchased the Warrant for $100. The Warrant was terminated by the Company upon repurchase.

FAIR VALUE MEASUREMENTS

12 Months Ended

Jul. 31, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS


Level 1:	Observable inputs such as quoted prices for identical assets or liabilities in active markets


Level 2:	Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs


Level 3:	Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants would price the assets or liabilities

The carrying value of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, current liabilities and the revolving line of credit approximate fair value because of the short maturity of these instruments. We believe that the carrying value of our long-term debt approximates fair value because the stated interest rates of this debt is consistent with current market rates. The carrying value of capital lease obligations approximates fair value, as estimated by using discounted future cash flows based on the Company's current incremental borrowing rates for similar types of borrowing arrangements. The defined benefit plans have 100% of their assets invested in bank-managed portfolios of debt securities and other assets. Conservation of capital with some conservative growth potential is the strategy for the plans. The Company's pension plans are outside the United States, where asset allocation decisions are typically made by an independent board of trustees. Investment objectives are aligned to generate returns that will enable the plans to meet their future obligations. The Company acts in a consulting and governance role in reviewing investment strategy and providing a recommended list of investment managers for each plan, with final decisions on asset allocation and investment manager made by local trustees.

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following tables present the Company's financial assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Level 1		Level 2		Level 3
Assets:
Money market funds	$	365	$	365	$	—	$	—



			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Level 1		Level 2		Level 3
Assets:
Money market funds	$	47,186	$	47,186	$	—	$	—

The following table presents the pension plan assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	26,651	98	%	$	—	$	—	$	26,651
Other investments	616		2	%	—		—		616
	$	27,267	100	%	$	—	$	—	$	27,267



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	22,339	98	%	$	—	$	—	$	22,339
Other investments	521		2	%	—		—		521
	$	22,860	100	%	$	—	$	—	$	22,860

The following table sets forth a summary of the changes in the fair value of the pension plan assets for the years ended July 31, 2019 and 2018:



	July 31,
	2019			2018
	(In thousands)
Fair value of plan assets at beginning of year	$	22,860		$	21,204
Actual return on plan assets	5,136			1,541
Employer contributions, net	422			402
Employee contributions	73			92
Settlements	(19		)	(21		)
Benefits and administrative expenses paid	(197		)	(372		)
Currency translation	(1,008		)	14
Fair value of plan assets at end of year	$	27,267		$	22,860

There were no transfers between Levels 1, 2 or 3 during any of the periods presented.

When available, quoted prices were used to determine fair value. When quoted prices in active markets were available, investments were classified within Level 1 of the fair value hierarchy. When quoted prices in active markets were not available, fair values were determined using pricing models, and the inputs to those pricing models were based on observable market inputs. The inputs to the pricing models were typically benchmark yields, reported trades, broker-dealer quotes, issuer spreads and benchmark securities, among others.

Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis

The Company reviews the carrying amounts of these assets whenever certain events or changes in circumstances indicate that the carrying amounts may not be recoverable. An impairment loss is recognized when the carrying amount of the asset group or reporting unit is not recoverable and exceeds its fair value. The Company estimated the fair values of assets subject to impairment based on the Company's own judgments about the assumptions that market participants would use in pricing the assets and on observable market data, when available.

Fair Value of Financial Instruments

The Company's financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable, customer deposits, accounts payable, restricted cash and debt, and are reflected in the financial statements at cost. With the exception of the SPHG Note, the Notes payable and long-term debt, cost approximates fair value for these items due to their short-term nature. We believe that the carrying value of the liability component of the SPHG Note and our long-term debt approximates fair value because the stated interest rates of this debt is consistent with current market rates.

Included in cash and cash equivalents in the accompanying balance sheet are money market funds. These are valued at quoted market prices in active markets.

The following table presents the Company's Notes payable which were not carried at fair value:



	July 31, 2018
	Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)
Notes payable	$	64,530	$	66,658	Level 1

The fair value of the Company's Notes payable represented the value at which its lenders could trade its debt within the financial markets, and did not represent the settlement value of these debt liabilities to us. The fair value of the Notes payable could vary each period based on fluctuations in market interest rates, as well as changes to our credit ratings. The Notes payable were traded and their fair values were based upon traded prices as of the reporting date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SEGMENT INFORMATION

12 Months Ended

Jul. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

During the twelve months ended July 31, 2019, the Company changed the determination of its operating segments. The Company has two operating segments: Supply Chain and Direct Marketing. This change was made to be consistent with the information provided to the Company's chief operating decision-maker ("CODM") for purposes of making decisions about allocating resources and assessing performance and quantitative thresholds. The Company has determined that it has two reportable segments: Supply Chain and Direct Marketing. The July 31, 2018 financial information has been restated to reflect these changes on a comparable basis. The Company also has Corporate-level activity, which consists primarily of costs associated with certain corporate administrative functions such as legal, finance, share-based compensation and acquisition costs which are not allocated to the Company's reportable segments. The Corporate-level balance sheet information includes cash and cash equivalents, Notes payables and other assets and liabilities which are not identifiable to the operations of the Company's operating segments. All significant intra-segment amounts have been eliminated.

Management evaluates segment performance based on segment net revenue, operating income (loss) and "adjusted operating income (loss)", which is defined as the operating income (loss) excluding net charges related to depreciation, amortization of intangible assets, long-lived asset impairment, share-based compensation and restructuring. These items are excluded because they may be considered to be of a non-operational or non-cash nature. Historically, the Company has recorded significant impairment and restructuring charges and therefore management uses adjusted operating income (loss) to assist in evaluating the performance of the Company's core operations.

Summarized financial information of the Company's continuing operations by operating segment is as follows:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Net revenue:
Supply Chain	$	332,928		$	345,900
Direct Marketing	486,902			299,358
	$	819,830		$	645,258
Operating income (loss):
Supply Chain	$	(3,822	)	$	613
Direct Marketing	(9,154		)	10,740
Total segment operating income (loss)	(12,976		)	11,353
Corporate-level activity	(12,303		)	(19,659		)
Total operating loss	(25,279		)	(8,306		)
Total other expense	(36,820		)	(26,982		)
Loss before income taxes	$	(62,099	)	$	(35,288	)

For the twelve months ended July 31, 2018, net revenue and operating income associated with Direct Marketing is for the period from December 15, 2017 to July 31, 2018. For this period, the Direct Marketing operating income includes certain purchase accounting adjustments associated with the IWCO acquisition.



	July 31, 2019		July 31, 2018
	(In thousands)
Total assets:
Supply Chain	$	112,712	$	120,123
Direct Marketing	600,390		642,820
Sub-total—segment assets	713,102		762,943
Corporate	18,461		64,107
	$	731,563	$	827,050

Summarized financial information of the Company's net revenue from external customers by group of services is as follows:



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Services:
Supply Chain	$	332,928	$	345,900
Products:
Direct Marketing	486,902		299,358
	$	819,830	$	645,258

As of July 31, 2019 and 2018, approximately $86.3 million and $101.8 million of the Company's long-lived assets, respectively, were located in the U.S.

For the fiscal year ended July 31, 2019, the Company's net revenues within U.S., China, Netherlands and Czech Republic were $557.2 million, $142.4 million, $51.4 million and $4.7 million, respectively. For the fiscal year ended July 31, 2018, the Company's net revenues within U.S., China, Netherlands and Czech Republic were $358.3 million, $112.3 million, $59.5 million and $48.7 million, respectively.

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Jul. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS As of June 21, 2019, SPHG Holdings and its affiliates, including Steel Partners Holdings L.P. ("Steel Holdings"), Handy & Harman, Ltd. ("HNH"), Steel Partners, Ltd. ("SPL"), beneficially owned approximately 56.3% of our outstanding capital stock, including shares of Series C Convertible Preferred Stock, par value $0.01 per share that vote on an as-converted basis together with our Common Stock. Warren G. Lichtenstein, our Interim Chief Executive Officer and the Executive Chairman of our Board, is also the Executive Chairman of Steel Holdings GP. Glen Kassan, our Vice Chairman of the Board and former Chief Administrative Officer, is an employee of Steel Services Ltd. ("Steel Services"). Jack L. Howard, the President and a director of Steel Holdings GP, was appointed to the Board upon the closing of the Preferred Stock Transaction described below. William T. Fejes, the Chief Operating Officer of Steel Holdings, was appointed to the Board upon the closing of the Preferred Stock Transaction described below. SPHG Note Transaction On February 28, 2019, the Company entered into that certain the SPHG Note Purchase Agreement with SPHG Holdings, whereby SPHG Holdings agreed to loan the Company $14.9 million in exchange for a 7.50% Convertible Senior Note due 2024. As of July 31, 2018, SPHG held $14.9 million principal amount of the Company's 5.25% Convertible Senior Notes. The Notes matured on March 1, 2019, with a balance due of $65.6 million, including interest to the March 1, 2019 maturity date. The total $65.6 million balance due was paid in full by the Company from available cash on-hand and $14.9 million from the proceeds of the SPHG Note Transaction. See Note 7, "Debt." Preferred Stock Transaction and Warrant Repurchase On December 15, 2017, the Company entered into a Preferred Stock Purchase Agreement with SPHG Holdings, pursuant to which the Company issued 35,000 shares of the Company's newly created Series C Convertible Preferred Stock, par value $0.01 per share, to SPHG Holdings at a price of $1,000 per share, for an aggregate purchase consideration of $35.0 million. The terms, rights, obligations and preferences of the Preferred Stock are set forth in a Certificate of Designations, Preferences and Rights of Series C Convertible Preferred Stock of the Company, which has been filed with the Secretary of State of the State of Delaware. The Preferred Stock Transaction was approved and recommended to the Board by a special committee of the Board (the "Special Committee"). Each member of the Special Committee was independent and not affiliated with Steel Holdings GP, which controls the power to vote and dispose of the securities held by SPHG Holdings and its affiliates. On December 15, 2017, contemporaneously with the closing of the Preferred Stock Transaction, the Company entered into a Warrant Repurchase Agreement with Steel Holdings, an affiliate of SPHG Holdings, pursuant to which the Company repurchased for $100 the warrant to acquire 2,000,000 shares of the Common Stock that the Company had previously issued to Steel Holdings. The Warrant, which was to expire in 2018, was terminated by the Company upon repurchase. Management Services Agreement On December 24, 2014, the Company entered into a Management Services Agreement with SP Corporate Services LLC ("SP Corporate"), effective as of January 1, 2015 (the "2015 Management Services Agreement"). SP Corporate is an indirect wholly owned subsidiary of Steel Holdings and is a related party. Pursuant to this agreement, SP Corporate provided the Company and its subsidiaries with the services of certain employees, including certain executive officers, and other corporate services. On June 14, 2019, the Company entered into a new agreement (the "2019 Management Services Agreement") with Steel Services, an indirect wholly owned subsidiary of Steel Holdings. The 2019 Management Services Agreement was effective as of June 1, 2019. The 2019 Management Services Agreement supersedes all prior agreements between the Company and Steel Services, including the 2015 Management Services Agreement. Total expenses incurred related to the 2015 Management Services Agreement and the 2019 Management Services Agreement for the twelve months ended July 31, 2019 and 2018 were $1.8 million and $1.9 million, respectively. As of July 31, 2019 and 2018, amounts due to SP Corporate and Steel Services were $0.5 million and $0.2 million, respectively. On October 11, 2016, the Board adopted a Related Person Transaction Policy that is administered by the Audit Committee and applies to all related party transactions. As of October 11, 2016, the Audit Committee reviews all related party transactions on an ongoing basis and all such transactions must be approved or ratified by the Audit Committee. On December 15, 2017, the Board, upon the recommendation of the Special Committee and the Compensation Committee, approved restricted stock grants and market performance based restricted stock grants to non-employee directors Messrs. Howard, Fejes and Lichtenstein, the Executive Chairman of the Board, in each case effective upon the closing of the IWCO Acquisition (the "Grant Date"). Messrs, Howard and Lichtenstein are affiliated with Steel Holdings GP, which is a wholly-owned subsidiary of Steel Holdings. Mr. Fejes is currently affiliated with Steel Services, an indirect wholly owned subsidiary of Steel Holdings. These awards were measured based on the fair market value on the Grant Date. Air Travel During twelve months ended July 31, 2018, the Company reimbursed SP General Service, LLC., a wholly owned subsidiary of SPL, for air travel in the amount of $0.5 million, which was primarily related to the acquisition of IWCO and its integration.

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Jul. 31, 2019

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

Per the Cerberus Credit Facility, IWCO is permitted to make distributions to the Parent, Steel Connect, Inc., an aggregate amount not to exceed $5.0 million in any fiscal year and pay reasonable documented expenses incurred by the Parent. The Parent is entitled to receive additional cash remittances under a "U.S. Federal Income Tax Sharing Agreement." As the remainder of the restricted net assets, which totaled approximately $9.6 million at July 31, 2019, represent a significant portion of the Company's consolidated total assets, the Company is presenting the following parent company condensed financial information:

STEEL CONNECT, INC. (Parent Only)

BALANCE SHEETS

(in thousands, except share and per share data)



	July 31, 2019			July 31, 2018
ASSETS
Cash and cash equivalents	$	4,083		$	7,978
Prepaid expenses and other current assets	227			120
Total current assets	4,310			8,098
Investments in affiliates	96,940			188,534
Other assets	337			87
Due from subsidiaries	—			13,579
Total assets	$	101,587		$	210,298
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK & STOCKHOLDERS' EQUITY
Accounts payable	$	1,253		$	674
Accrued expenses	2,364			2,274
Convertible Notes payable	—			50,274
Total current liabilities	3,617			53,222
Convertible Notes payable	7,432			14,256
Due to subsidiaries	2,660			—
Total long-term liabilities	10,092			14,256
Total liabilities	13,709			67,478
Contingently redeemable preferred stock, $0.01 par value per share. 35,000 shares authorized, issued and outstanding at July 31, 2019 and 2018	35,186			35,192
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2019 and July 31, 2018; zero shares issued and outstanding at July 31, 2019 and 2018	—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 61,805,856 issued and outstanding shares at July 31, 2019; 60,742,859 issued and outstanding shares at July 31, 2018	618			608
Additional paid-in capital	7,477,327			7,467,855
Accumulated deficit	(7,426,287		)	(7,363,569		)
Accumulated other comprehensive income	1,034			2,734
Total stockholders' equity	52,692			107,628
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$	101,587		$	210,298

STEEL CONNECT, INC. (Parent Only)

STATEMENTS OF OPERATIONS

(in thousands)



	Twelve Months Ended July 31,
	2019			2018
Selling, general and administrative	$	12,303		$	16,742
Total operating expenses	12,303			16,742
Operating loss	(12,303		)	(16,742		)
Other income (expense):
Interest expense	(6,081		)	(8,427		)
Other income (expense), net	(306		)	6,807
Total other expense	(6,387		)	(1,620		)
Loss before income taxes	(18,690		)	(18,362		)
Equity (gains) losses of subsidiaries, net of tax	48,079			(54,276		)
Gains on investments in affiliates, net of tax	(42		)	(801		)
Net income (loss)	$	(66,727	)	$	36,715

STEEL CONNECT, INC. (Parent Only)

STATEMENTS OF CASH FLOWS

(in thousands)



	Twelve Months Ended July 31,
	2019			2018
Cash flows from operating activities:
Net income (loss)	$	(66,727	)	$	36,715
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization of deferred financing costs	243			388
Accretion of debt discount	3,433			4,384
Share-based compensation	1,267			10,763
Non-cash (gains) losses, net	7			(354		)
Equity (gains) losses of subsidiaries, net of tax	48,079			(54,276		)
Gains on investments in affiliates and impairments	(42		)	(801		)
Changes in operating assets and liabilities, net of business acquired:
Prepaid expenses and other current assets	(107		)	(36		)
Accounts payable and accrued expenses	669			698
Other assets and liabilities	(250		)	(1,860		)
Net cash used in operating activities	(13,428		)	(4,379		)
Cash flows from investing activities:
Intercompany advances, net	64,332			(22,216		)
Net cash provided by (used in) investing activities	64,332			(22,216		)
Cash flows from financing activities:
Proceeds from issuance of preferred stock	—			35,000
Proceeds from issuance of Convertible Note	14,940			—
Payments on maturity of Convertible Notes	(63,925		)	—
Payment of preferred dividends	(2,129		)	(1,143		)
Purchase of the Company's Convertible Notes	(3,700		)	—
Proceeds from issuance of common stock	15			8
Net cash provided by (used in) financing activities	(54,799		)	33,865
Net increase (decrease) in cash and cash equivalents	(3,895		)	7,270
Cash and cash equivalents at beginning of period	7,978			708
Cash and cash equivalents at end of period	$	4,083		$	7,978

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jul. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

Revenue Recognition

Supply chain management services.

Marketing solutions offerings.

Other.

Significant Judgments

Contract Balances

Timing of revenue recognition may differ from timing of invoicing to customers. The Company records contract assets and liabilities related to its contracts with customers as follows:

•Accounts receivable when revenue is recognized prior to receipt of cash payments and if the right to such amounts is unconditional and solely based on the passage of time.

Accounts Receivable and Allowance for Doubtful Accounts

Foreign Currency Translation

Cash, Cash Equivalents and Short-term Investments

Fair Value of Financial Instruments


Level 1:	Observable inputs such as quoted prices for identical assets or liabilities in active markets


Level 2:	Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs


Level 3:	Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants would price the assets or liabilities

Funds Held for Clients

Inventory

Business Combinations and Valuation of Goodwill and Other Acquired Intangible Assets

Accounting for Impairment of Long-Lived Assets, Goodwill and Other Intangible Assets

Property and Equipment



Buildings	32 years
Machinery & equipment	3 to 7 years
Furniture & fixtures	5 to 7 years
Automobiles	5 years
Software	3 to 8 years
Leasehold improvements	Shorter of the remaining lease term or the estimated useful life of the asset

Income Taxes

Share-Based Compensation Plans

Major Clients and Concentration of Credit Risk

To manage risk, the Company performs ongoing credit evaluations of its clients' financial condition. The Company generally does not require collateral on accounts receivable. The Company maintains an allowance for doubtful accounts based on its assessment of the collectability of accounts receivable.

Recent Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 31, 2019

Accounting Policies [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The allowance for doubtful accounts consisted of the following:



	July 31, 2019			July 31, 2018
	(In thousands)
Balance at beginning of year	$	480		$	616
Provisions charged to expense	1,418			211
Accounts written off	(94		)	(347		)
	$	1,804		$	480

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Cash and bank deposits	$	32,183	$	44,952
Money market funds	365		47,186
	$	32,548	$	92,138



	July 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	32,548	$	92,138
Funds held for clients	13,516		11,688
Cash, cash equivalents and restricted cash	$	46,064	$	103,826

Components of Inventories

Inventories consisted of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Raw materials	$	21,322	$	23,208
Work-in-process	587		16,147
Finished goods	1,765		8,431
	$	23,674	$	47,786

Estimated Useful Lives of Property and Equipment

The estimated useful lives are as follows:



Buildings	32 years
Machinery & equipment	3 to 7 years
Furniture & fixtures	5 to 7 years
Automobiles	5 years
Software	3 to 8 years
Leasehold improvements	Shorter of the remaining lease term or the estimated useful life of the asset

Reconciliation of Earnings Per Share

The following table reconciles earnings (loss) per share for the fiscal years ended July 31, 2019 and 2018.



	Twelve Months Ended July 31,
	2019			2018
	(In thousands, except per share data)
Net income (loss)	$	(66,727	)	$	36,715
Less: Preferred dividends on redeemable preferred stock	(2,129		)	(1,335		)
Net income (loss) attributable to common stockholders	(68,856		)	35,380
Effect of dilutive securities:
5.25% Convertible Senior Notes	—			7,079
Redeemable preferred stock	—			1,335
Net income (loss) attributable to common stockholders after assumed conversions	$	(68,856	)	$	43,794
Weighted average common shares outstanding	61,180			59,179
Weighted average common equivalent shares arising from dilutive stock options, restricted stock, convertible notes and convertible preferred stock	—			22,720
Weighted average number of common and potential common shares	61,180			81,899
Basic net earnings (loss) per share attributable to common stockholders:	$	(1.13	)	$	0.60
Diluted net earnings (loss) per share attributable to common stockholders:	$	(1.13	)	$	0.53

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jul. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment at Cost

Property and equipment at cost, consists of the following:



	July 31,
	2019			2018
	(In thousands)
Land	$	942		$	942
Machinery and equipment	99,961			97,149
Leasehold improvements	23,711			21,917
Software	52,961			52,082
Other	24,230			28,147
	201,805			200,237
Less: Accumulated depreciation and amortization	(110,537		)	(93,605		)
Property and equipment, net	$	91,268		$	106,632

ACQUISITION OF IWCO DIRECT (Tables)

12 Months Ended

Jul. 31, 2019

Business Combinations [Abstract]

Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of assets acquired and liabilities assumed at the date of the acquisition:



	As Originally Reported			Adjustments			As Revised
	(In thousands)
Accounts receivable	$	47,841		$	(433	)	$	47,408
Inventories	27,165			5,829			32,994
Other current assets	7,427			3,197			10,624
Property and equipment	87,976			477			88,453
Intangible assets	210,920			2,330			213,250
Goodwill	259,085			(1,957		)	257,128
Other assets	3,040			—			3,040
Accounts payable	(31,069		)	—			(31,069		)
Accrued liabilities and other current liabilities	(35,790		)	(30,368		)	(66,158		)
Customer deposits	(7,829		)	—			(7,829		)
Deferred income taxes	(79,918		)	2,755			(77,163		)
Other long-term liabilities	(19,627		)	18,170			(1,457		)
Total consideration	$	469,221		$	—		$	469,221

Summary of Pro Forma Information

The pro forma results were adjusted to reflect a fair value step-up to work-in-process inventory, as well as incremental depreciation and amortization based on fair value adjustments for the acquired property and equipment, and intangible assets. A reduction to interest expense is also reflected in the pro forma results to reflect the more favorable terms obtained with the new credit facility as compared to the interest rate under the former facility carried by IWCO. The pro forma results also reflect the reversal of the income tax valuation allowance that resulted from the acquisition in fiscal year 2017, rather than fiscal year 2018:



	Twelve Months Ended
	July 31, 2018
Net revenue	$	824,825
Net loss	$	(17,148	)

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Jul. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Estimated Future Amortization Expense of Intangible Assets

The estimated future amortization expense of intangible assets as of July 31, 2019 is as follows (in thousands):



2020	$	27,255
2021	20,258
2022	15,334
2023	11,427
2024	9,371
Thereafter	78,873
	$	162,518

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Jul. 31, 2019

Payables and Accruals [Abstract]

Components of Accrued Expenses

The following schedules reflect the components of "Accrued expenses" and "Other Current Liabilities":



	July 31, 2019		July 31, 2018
	(In thousands)
Accrued taxes	$	59,057	$	29,804
Accrued compensation	22,584		25,603
Accrued interest	467		1,437
Accrued audit, tax and legal	3,148		3,264
Accrued contract labor	1,650		1,932
Accrued worker's compensation	4,549		6,126
Accrued other	21,203		20,260
	$	112,658	$	88,426

Components of Other Current Liabilities



	July 31, 2019		July 31, 2018
	(In thousands)
Accrued pricing liabilities	$	14,309	$	18,882
Customer postage deposits	11,816		12,638
Revolving credit facility	6,000		—
Other	6,921		10,509
	$	39,046	$	42,029

DEBT (Tables)

12 Months Ended

Jul. 31, 2019

Debt Disclosure [Abstract]

Summary of Debt



	July 31, 2019			July 31, 2018
	(In thousands)
Principal amount outstanding on the Term Loan	$	375,125		$	390,000
Unamortized debt issuance costs	(888		)	(1,162		)
Net carrying value of the Term Loan	$	374,237		$	388,838

Our debt consists of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Short-term debt
Cerberus revolving credit facility	$	6,000	$	—
Current portion of long-term debt	5,732		5,727
5.25% Convertible Senior Notes Payable	—		50,274
	11,732		56,001
Long-term debt
5.25% Convertible Senior Notes Payable	—		14,256
7.50% Convertible Senior Note	7,432		—
Long-term debt, net of current portion	368,505		383,111
	375,937		397,367
Total debt	$	387,669	$	453,368

As of July 31, 2019, the net carrying value of the SPHG Note was $7.4 million.



	July 31, 2019
	(In thousands)
Carrying amount of equity component	$	8,200

Principal amount of Note	$	14,940
Unamortized debt discount	(7,508		)
Net carrying amount	$	7,432

Summary of Interest Expense Related to Convertible Notes



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Interest expense related to contractual interest coupon	$	1,932	$	3,655
Interest expense related to accretion of the discount	2,741		4,384
Interest expense related to debt issuance costs	243		388
	$	4,916	$	8,427



	Twelve Months Ended
	July 31, 2019
	(In thousands)
Interest expense related to contractual interest coupon	$	473
Interest expense related to accretion of the discount	692
	$	1,165

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jul. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Future Annual Minimum Payments

Future annual minimum payments as of July 31, 2019, are as follows:



	Operating Leases		Capital Lease Obligations		Purchase Obligations		Debt Principal & Interest		Total
	(In thousands)
For the fiscal years ended July 31:
2020	$	16,534	$	147	$	26,800	$	7,121	$	50,602
2021	11,755		136		—		7,121		19,012
2022	8,082		104		—		7,121		15,307
2023	4,899		37		—		364,245		369,181
2024	3,544		—		—		15,593		19,137
Thereafter	19,895		—		—		—		19,895
	$	64,709	$	424	$	26,800	$	401,201	$	493,134

DEFINED BENEFIT PENSION PLANS (Tables)

12 Months Ended

Jul. 31, 2019

Retirement Benefits [Abstract]

Plan Assets Measured at Fair Value on Recurring Basis Classified by Fair Value Hierarchy

The following table presents the plan assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	26,651	98	%	$	—	$	—	$	26,651
Other investments	616		2	%	—		—		616
	$	27,267	100	%	$	—	$	—	$	27,267



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	22,339	98	%	$	—	$	—	$	22,339
Other investments	521		2	%	—		—		521
	$	22,860	100	%	$	—	$	—	$	22,860

The following table presents the pension plan assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	26,651	98	%	$	—	$	—	$	26,651
Other investments	616		2	%	—		—		616
	$	27,267	100	%	$	—	$	—	$	27,267



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	22,339	98	%	$	—	$	—	$	22,339
Other investments	521		2	%	—		—		521
	$	22,860	100	%	$	—	$	—	$	22,860

Aggregate Change in Benefit Obligation and Plan Assets

The aggregate change in benefit obligation and plan assets related to these plans was as follows:



	July 31,
	2019			2018
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	29,849		$	27,464
Service cost	365			398
Interest cost	633			671
Actuarial loss	5,125			1,655
Employee contributions	72			93
Benefits and administrative expenses paid	(197		)	(372		)
Adjustments	(20		)	(54		)
Settlements	—			(21		)
Currency translation	(1,289		)	15
Benefit obligation at end of year	34,538			29,849
Change in plan assets
Fair value of plan assets at beginning of year	22,860			21,204
Actual return on plan assets	5,136			1,541
Employer contributions, net	422			402
Employee contributions	73			92
Settlements	(19		)	(21		)
Benefits and administrative expenses paid	(197		)	(372		)
Currency translation	(1,008		)	14
Fair value of plan assets at end of year	27,267			22,860
Funded status
Current liability	(13		)	(13		)
Noncurrent liability	(7,259		)	(6,976		)
Net amount recognized in statement of financial position as a noncurrent liability	$	(7,272	)	$	(6,989	)

Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:



	July 31,
	2019		2018
	(In thousands)
Projected benefit obligation	$	34,538	$	29,849
Accumulated benefit obligation	$	32,361	$	27,700
Fair value of plan assets	$	27,267	$	22,860

Components of Net Periodic Pension Cost

Components of net periodic pension cost were as follows:



	Twelve months ended July 31,
	2019			2018
	(In thousands)
Service cost	$	365		$	398
Interest costs	633			671
Expected return on plan assets	(492		)	(529		)
Amortization of net actuarial loss	127			125
Net periodic pension costs	$	633		$	665

Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost

Weighted-average assumptions used to determine benefit obligations was as follows:



	Twelve months ended July 31,
	2019		2018
Discount rate	1.48	%	2.22	%
Rate of compensation increase	1.97	%	1.93	%

Weighted-average assumptions used to determine net periodic pension cost was as follows:



	Twelve months ended July 31,
	2019		2018
Discount rate	1.46	%	2.21	%
Expected long-term rate of return on plan assets	1.45	%	2.20	%
Rate of compensation increase	1.92	%	1.94	%

Summary of Expected Benefit Payments from the Plans through Fiscal 2026



	Pension Benefit Payments
	(in thousands)
For the fiscal year ended July 31:
2020	205
2021	247
2022	245
2023	294
2024	444
Next 5 years	2,436

REVENUE RECOGNITION (Tables)

12 Months Ended

Jul. 31, 2019

Revenue from Contract with Customer [Abstract]

Summary of reconciliation of the disaggregated revenue



	Twelve Months Ended July 31, 2019
	Supply Chain		Direct Marketing		Consolidated Total
	(In thousands)
Major Goods/Service Lines
Supply chain management services	$	331,022	$	—	$	331,022
Marketing solutions offerings	—		486,902		486,902
Other	1,906		—		1,906
	$	332,928	$	486,902	$	819,830
Timing of Revenue Recognition
Goods transferred over time	$	—	$	486,902	$	486,902
Services transferred over time	332,928		—		332,928
	$	332,928	$	486,902	$	819,830
Total Revenue
Revenue from contracts with customers	$	332,928	$	486,902	$	819,830
	$	332,928	$	486,902	$	819,830

Summary of changes in deferred revenue

Changes in deferred revenue during the twelve months ended July 31, 2019, were as follows (in thousands):



Twelve Months Ended July 31, 2019
Balance at beginning of period	$	3,858
Deferral of revenue	4,624
Recognition of deferred amounts upon satisfaction of performance obligation	(5,453		)
Balance at end of period	$	3,029

Cumulative effect of the changes to consolidated balance sheet for the adoption of topic 606

The cumulative effect of the changes made to the Company's consolidated August 1, 2018 balance sheet for the adoption of Topic 606 were as follows (in thousands):



Balance Sheet
	July 31, 2018			Adjustments Due to ASU 2014-09			August 1, 2018
Assets
Inventories, net	$	47,786		$	(21,233	)	$	26,553
Prepaid expenses and other current assets	13,415			24,041			37,456
Total current assets	264,281			2,808			267,089
Total assets	$	827,050		$	2,808		$	829,858
Liabilities
Other current liabilities	$	42,029		$	(3,330	)	$	38,699
Total current liabilities	276,356			(3,330		)	273,026
Total liabilities	684,230			(3,330		)	680,900
Stockholders' equity
Accumulated deficit	(7,363,569		)	6,138			(7,357,431		)
Total stockholders' equity	107,628			6,138			113,766
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$	827,050		$	2,808		$	829,858

Impact of the adoption on consolidated balance sheet and statement of operations



Balance Sheet:	July 31, 2019
	As Reported			Balances without Adoption of ASC 606			Effect of Change Higher/(Lower)
Assets
Inventories, net	$	23,674		$	45,853		$	(22,179	)
Prepaid expenses and other current assets	31,445			9,973			21,472
Total current assets	213,324			214,031			(707		)
Total assets	$	731,563		$	732,270		$	(707	)
Liabilities
Other current liabilities	$	39,046		$	46,641		$	(7,595	)
Total current liabilities	256,850			264,445			(7,595		)
Total liabilities	643,685			651,280			(7,595		)
Stockholders' equity
Accumulated deficit	(7,426,287		)	(7,433,175		)	6,888
Total stockholders' equity	52,692			45,804			6,888
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$	731,563		$	732,270		$	(707	)



Statement of Operations:	Twelve months ended July 31, 2019
	As Reported			Balances without Adoption of ASC 606			Effect of Change Higher/(Lower)
Net revenue	$	819,830		$	818,134		$	1,696
Cost of revenue	670,100			669,154			946
Gross profit	149,730			148,980			750
Loss before income taxes	(62,099		)	(62,849		)	750
Net loss	(66,727		)	(67,477		)	750
Net loss attributable to common stockholders	$	(68,856	)	$	(69,606	)	$	750
Basic and diluted net loss per share attributable to common stockholders:	$	(1.13	)	$	(1.14	)	$	0.01

OTHER GAINS (LOSSES), NET (Tables)

12 Months Ended

Jul. 31, 2019

Other Income and Expenses [Abstract]

Components of Other Gains (Losses), Net

The following schedule reflects the components of "Other gains (losses), net":



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Foreign currency exchange gains, net	$	337		$	1,055
Derecognition of accrued pricing liabilities	4,573			—
Gain, net on Trading Securities	—			1,876
Other, net	(307		)	(708		)
	$	4,603		$	2,223

SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Jul. 31, 2019

Share-based Payment Arrangement [Abstract]

Summary of Share-Based Compensation Expense Related to Employee Stock Options, Employee Stock Purchases and Nonvested Shares

The following table summarizes share-based compensation expense related to employee stock options, employee stock purchases and nonvested shares for the fiscal years ended July 31, 2019 and 2018:



	Twelve Months Ended July 31,
	2019		2018
Cost of revenue	$	—	$	14
Selling, general and administrative	1,267		10,787
	$	1,267	$	10,801

Summary of Option Activity

A summary of option activity for the fiscal year ended July 31, 2019 is as follows:



	Number of Shares		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
	(in thousands, except exercise price and years)
Stock options outstanding, July 31, 2018	438		$	3.99
Granted	—		—
Exercised	—		—
Forfeited or expired	(113	)	3.74
Stock options outstanding, July 31, 2019	325		4.07		1.12	$	—
Stock options exercisable, July 31, 2019	325		$	4.07	1.12	$	—

Summary of Activity of Nonvested Stock

A summary of the activity of the Company's nonvested stock for the fiscal year ended July 31, 2019, is as follows:



	Number of Shares		Weighted-Average Grant Date Fair Value
	(share amounts in thousands)
Nonvested stock outstanding, July 31, 2018	1,165		$	0.44
Granted	405		1.73
Vested	(1,165	)	0.44
Forfeited	—		—
Nonvested stock outstanding, July 31, 2019	405		$	1.73

INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2019

Income Tax Disclosure [Abstract]

Components of Loss from Continuing Operations before Provision for Income Taxes

The components of loss from continuing operations before provision for income taxes are as follows:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Income (loss) from operations before income taxes:
U.S.	$	(68,959	)	$	(60,574	)
Foreign	6,860			25,286
Total loss from operations before income taxes	$	(62,099	)	$	(35,288	)

Components of Income Tax Expense

The components of income tax expense have been recorded in the Company's consolidated financial statements as follows:



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Income tax expense (benefit) from operations	$	4,670	$	(71,202	)
Total income tax expense (benefit)	$	4,670	$	(71,202	)

Components of Income Tax Expense from Operations

The components of income tax expense from operations consist of the following:



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Current provision
Federal	$	—	$	—
State	288		—
Foreign	1,525		7,592
	1,813		7,592
Deferred provision:
Federal	1,563		(76,168		)
State	753		(2,352		)
Foreign	541		(274		)
	2,857		(78,794		)
Total tax provision	$	4,670	$	(71,202	)

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:



	July 31, 2019			July 31, 2018
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	21,297		$	16,070
Tax basis in excess of financial basis of investments in affiliates	6,534			6,232
Tax basis in excess of financial basis for intangible and fixed assets	187			311
Net operating loss and capital loss carry forwards	469,735			468,129
Total gross deferred tax assets	497,753			490,742
Less: valuation allowance	(451,189		)	(438,467		)
Net deferred tax assets	$	46,564		$	52,275
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	$	(43,885	)	$	(50,141	)
Convertible Debt	(1,761		)	(634		)
Total gross deferred tax liabilities	(45,646		)	(50,775		)
Net deferred tax asset	$	918		$	1,500

Reconciliation of Income Tax Expense Attributable to Income from Continuing Operations



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Computed "expected" income tax expense (benefit)	$	(13,041	)	$	(9,467	)
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	16,158			(329,415		)
Foreign dividends	—			7,379
Foreign tax rate differential	(593		)	(1,948		)
Federal rate change	—			280,438
Nondeductible goodwill impairment	—			191
Nondeductible expenses	2,484			(15,852		)
Foreign withholding taxes	336			1,961
Addition (reversal) of uncertain tax position reserves	645			(48		)
State benefit of U.S. Loss	—			(4,654		)
State income taxes, net of federal benefit	113			—
Other	(1,432		)	213
Actual income tax expense	$	4,670		$	(71,202	)

Reconciliation of Beginning and Ending Balances of Total Amounts of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Balance as of beginning of year	$	1,525		$	681
Additions for current year tax positions	704			903
Currency translation	(22		)	—
Reductions for lapses in statute of limitations	—			(59		)
Balance as of end of year	$	2,207		$	1,525

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Jul. 31, 2019

Equity [Abstract]

Accumulated Other Comprehensive Income, Net of Income Taxes

The components of accumulated other comprehensive income, net of income taxes, are as follows:



	Foreign currency items			Pension items			Unrealized gains (losses) on securities			Total
	(In thousands)
Accumulated other comprehensive income (loss) at July 31, 2018	$	6,348		$	(3,795	)	$	181		$	2,734
Foreign currency translation adjustment	(1,331		)	—			—			(1,331		)
Net unrealized holding loss on securities	—			—			(85		)	(85		)
Pension liability adjustments	—			(284		)	—			(284		)
Net current-period other comprehensive loss	(1,331		)	(284		)	(85		)	(1,700		)
Accumulated other comprehensive income (loss) at July 31, 2019	$	5,017		$	(4,079	)	$	96		$	1,034

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION (Tables)

12 Months Ended

Jul. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following:



	July 31, 2019		July 31, 2018
	(In thousands)
Cash and bank deposits	$	32,183	$	44,952
Money market funds	365		47,186
	$	32,548	$	92,138



	July 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	32,548	$	92,138
Funds held for clients	13,516		11,688
Cash, cash equivalents and restricted cash	$	46,064	$	103,826

Schedule of Restrictions on Cash and Cash Equivalents



	July 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	32,548	$	92,138
Funds held for clients	13,516		11,688
Cash, cash equivalents and restricted cash	$	46,064	$	103,826

Schedule of Cash Flow, Supplemental Disclosure

Cash used for operating activities reflect cash payments for interest and income taxes as follows:



	Years Ended July 31,
	2019		2018
	(In thousands)
Cash paid for interest	$	38,525	$	24,642
Cash paid for income taxes	$	5,451	$	2,567

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jul. 31, 2019

Fair Value Disclosures [Abstract]

Financial Assets Measured at Fair Value on Recurring Basis and Classified by Fair Value Hierarchy

The following tables present the Company's financial assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Level 1		Level 2		Level 3
Assets:
Money market funds	$	365	$	365	$	—	$	—



			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Level 1		Level 2		Level 3
Assets:
Money market funds	$	47,186	$	47,186	$	—	$	—

Plan Assets Measured at Fair Value on Recurring Basis Classified by Fair Value Hierarchy

The following table presents the plan assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	26,651	98	%	$	—	$	—	$	26,651
Other investments	616		2	%	—		—		616
	$	27,267	100	%	$	—	$	—	$	27,267



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	22,339	98	%	$	—	$	—	$	22,339
Other investments	521		2	%	—		—		521
	$	22,860	100	%	$	—	$	—	$	22,860

The following table presents the pension plan assets measured at fair value on a recurring basis as of July 31, 2019 and 2018, classified by fair value hierarchy:



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2019		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	26,651	98	%	$	—	$	—	$	26,651
Other investments	616		2	%	—		—		616
	$	27,267	100	%	$	—	$	—	$	27,267



					Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2018		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	22,339	98	%	$	—	$	—	$	22,339
Other investments	521		2	%	—		—		521
	$	22,860	100	%	$	—	$	—	$	22,860

Summary of Changes in Fair Value of Pension Plan Assets

The following table sets forth a summary of the changes in the fair value of the pension plan assets for the years ended July 31, 2019 and 2018:



	July 31,
	2019			2018
	(In thousands)
Fair value of plan assets at beginning of year	$	22,860		$	21,204
Actual return on plan assets	5,136			1,541
Employer contributions, net	422			402
Employee contributions	73			92
Settlements	(19		)	(21		)
Benefits and administrative expenses paid	(197		)	(372		)
Currency translation	(1,008		)	14
Fair value of plan assets at end of year	$	27,267		$	22,860

Notes Payable not Carried at Fair Value

The following table presents the Company's Notes payable which were not carried at fair value:



	July 31, 2018
	Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)
Notes payable	$	64,530	$	66,658	Level 1

SEGMENT INFORMATION (Tables)

12 Months Ended

Jul. 31, 2019

Segment Reporting [Abstract]

Summarized Financial Information of Continuing Operations by Operating Segment and Corporate-Level Activity

Summarized financial information of the Company's continuing operations by operating segment is as follows:



	Twelve Months Ended July 31,
	2019			2018
	(In thousands)
Net revenue:
Supply Chain	$	332,928		$	345,900
Direct Marketing	486,902			299,358
	$	819,830		$	645,258
Operating income (loss):
Supply Chain	$	(3,822	)	$	613
Direct Marketing	(9,154		)	10,740
Total segment operating income (loss)	(12,976		)	11,353
Corporate-level activity	(12,303		)	(19,659		)
Total operating loss	(25,279		)	(8,306		)
Total other expense	(36,820		)	(26,982		)
Loss before income taxes	$	(62,099	)	$	(35,288	)

Total Assets of Continuing Operations



	July 31, 2019		July 31, 2018
	(In thousands)
Total assets:
Supply Chain	$	112,712	$	120,123
Direct Marketing	600,390		642,820
Sub-total—segment assets	713,102		762,943
Corporate	18,461		64,107
	$	731,563	$	827,050

Summarized Financial Information of Net Revenue from External Customers by Group of Services

Summarized financial information of the Company's net revenue from external customers by group of services is as follows:



	Twelve Months Ended July 31,
	2019		2018
	(In thousands)
Services:
Supply Chain	$	332,928	$	345,900
Products:
Direct Marketing	486,902		299,358
	$	819,830	$	645,258

PARENT COMPANY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Jul. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Schedule of Balance Sheet

STEEL CONNECT, INC. (Parent Only)

BALANCE SHEETS

(in thousands, except share and per share data)



	July 31, 2019			July 31, 2018
ASSETS
Cash and cash equivalents	$	4,083		$	7,978
Prepaid expenses and other current assets	227			120
Total current assets	4,310			8,098
Investments in affiliates	96,940			188,534
Other assets	337			87
Due from subsidiaries	—			13,579
Total assets	$	101,587		$	210,298
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK & STOCKHOLDERS' EQUITY
Accounts payable	$	1,253		$	674
Accrued expenses	2,364			2,274
Convertible Notes payable	—			50,274
Total current liabilities	3,617			53,222
Convertible Notes payable	7,432			14,256
Due to subsidiaries	2,660			—
Total long-term liabilities	10,092			14,256
Total liabilities	13,709			67,478
Contingently redeemable preferred stock, $0.01 par value per share. 35,000 shares authorized, issued and outstanding at July 31, 2019 and 2018	35,186			35,192
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2019 and July 31, 2018; zero shares issued and outstanding at July 31, 2019 and 2018	—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 61,805,856 issued and outstanding shares at July 31, 2019; 60,742,859 issued and outstanding shares at July 31, 2018	618			608
Additional paid-in capital	7,477,327			7,467,855
Accumulated deficit	(7,426,287		)	(7,363,569		)
Accumulated other comprehensive income	1,034			2,734
Total stockholders' equity	52,692			107,628
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$	101,587		$	210,298

Schedule of Statements of Operations

STEEL CONNECT, INC. (Parent Only)

STATEMENTS OF OPERATIONS

(in thousands)



	Twelve Months Ended July 31,
	2019			2018
Selling, general and administrative	$	12,303		$	16,742
Total operating expenses	12,303			16,742
Operating loss	(12,303		)	(16,742		)
Other income (expense):
Interest expense	(6,081		)	(8,427		)
Other income (expense), net	(306		)	6,807
Total other expense	(6,387		)	(1,620		)
Loss before income taxes	(18,690		)	(18,362		)
Equity (gains) losses of subsidiaries, net of tax	48,079			(54,276		)
Gains on investments in affiliates, net of tax	(42		)	(801		)
Net income (loss)	$	(66,727	)	$	36,715

Schedule of Statements of Cash Flows

STEEL CONNECT, INC. (Parent Only)

STATEMENTS OF CASH FLOWS

(in thousands)



	Twelve Months Ended July 31,
	2019			2018
Cash flows from operating activities:
Net income (loss)	$	(66,727	)	$	36,715
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization of deferred financing costs	243			388
Accretion of debt discount	3,433			4,384
Share-based compensation	1,267			10,763
Non-cash (gains) losses, net	7			(354		)
Equity (gains) losses of subsidiaries, net of tax	48,079			(54,276		)
Gains on investments in affiliates and impairments	(42		)	(801		)
Changes in operating assets and liabilities, net of business acquired:
Prepaid expenses and other current assets	(107		)	(36		)
Accounts payable and accrued expenses	669			698
Other assets and liabilities	(250		)	(1,860		)
Net cash used in operating activities	(13,428		)	(4,379		)
Cash flows from investing activities:
Intercompany advances, net	64,332			(22,216		)
Net cash provided by (used in) investing activities	64,332			(22,216		)
Cash flows from financing activities:
Proceeds from issuance of preferred stock	—			35,000
Proceeds from issuance of Convertible Note	14,940			—
Payments on maturity of Convertible Notes	(63,925		)	—
Payment of preferred dividends	(2,129		)	(1,143		)
Purchase of the Company's Convertible Notes	(3,700		)	—
Proceeds from issuance of common stock	15			8
Net cash provided by (used in) financing activities	(54,799		)	33,865
Net increase (decrease) in cash and cash equivalents	(3,895		)	7,270
Cash and cash equivalents at beginning of period	7,978			708
Cash and cash equivalents at end of period	$	4,083		$	7,978

NATURE OF OPERATIONS - Additional Information (Detail) - USD ($)	Jul. 31, 2019	Apr. 30, 2019	Mar. 01, 2019	Feb. 28, 2019	Jul. 31, 2018	Jun. 30, 2014
Nature Of Operations [Line Items]
Cash and cash equivalents	$ 32,548,000				$ 92,138,000
Revolving credit facility	6,000,000				0
Debt instrument stated percentage			5.25%
Convertible notes payable			$ 65,600,000	$ 65,600,000	64,500,000
Convertible senior notes	0				50,274,000
PNC Bank Credit Facility
Nature Of Operations [Line Items]
Credit facility, readily available borrowing capacity	13,800,000
Line of credit facility, maximum credit commitment		$ 25,000,000				$ 50,000,000
Line of Credit \| Cerberus Credit Facility
Nature Of Operations [Line Items]
Revolving credit facility	6,000,000				$ 0
Line of credit facility, maximum credit commitment	$ 19,000,000
SPHG Holdings \| Convertible Senior Unsecured Note
Nature Of Operations [Line Items]
Debt instrument stated percentage	7.50%			7.50%
Convertible senior notes				$ 14,900,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 480	$ 616
Provisions charged to expense	1,418	211
Accounts written off	(94)	(347)
Ending balance	$ 1,804	$ 480

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Aug. 01, 2019
Significant Of Accounting Policies [Line Items]
Highly liquid investment period to be considered cash equivalent	3 months
Work In Process Inventory \| IWCO
Significant Of Accounting Policies [Line Items]
Fair value of assets acquired		$ 7.2
5.25% Convertible Senior Notes
Significant Of Accounting Policies [Line Items]
Common stock equivalent shares excluded from the denominator in calculation of diluted earnings (loss)per share	17.9	2.6
Ten Largest Clients \| Sales Revenue, Net \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage	49.00%	44.00%
Computing Market Client \| Net Accounts Receivable \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage		13.00%
Stock Options And Restricted Stock
Significant Of Accounting Policies [Line Items]
Common stock equivalent shares excluded from the denominator in calculation of diluted earnings (loss)per share	20.9	0.5
Minimum
Significant Of Accounting Policies [Line Items]
Highly liquid investment period to be considered short term investments	3 months
Maximum
Significant Of Accounting Policies [Line Items]
Highly liquid investment period to be considered short term investments	12 months
Supply Chain \| One Customer \| Sales Revenue, Net \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage	11.00%
Accounting Standards Update 2016-02 \| Pro Forma
Significant Of Accounting Policies [Line Items]
ROU asset			$ 53.7
Lease liability			$ 55.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Accounting Policies [Abstract]
Cash and bank deposits	$ 32,183	$ 44,952
Money market funds	365	47,186
Cash and cash equivalents	$ 32,548	$ 92,138

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Components of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Aug. 01, 2018	Jul. 31, 2018
Accounting Policies [Abstract]
Raw materials	$ 21,322		$ 23,208
Work-in-process	587		16,147
Finished goods	1,765		8,431
Inventories, net	$ 23,674	$ 26,553	$ 47,786

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property Plant and Equipment (Detail)	12 Months Ended
	Jul. 31, 2019
Buildings
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	32 years
Automobiles
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Minimum \| Machinery & equipment
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Minimum \| Furniture & fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Minimum \| Software
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Maximum \| Machinery & equipment
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	7 years
Maximum \| Furniture & fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	7 years
Maximum \| Software
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	8 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Mar. 01, 2019
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income (loss)	$ (66,727)	$ 36,715
Less: Preferred dividends on redeemable preferred stock	(2,129)	(1,335)
Net income (loss) attributable to common stockholders	(68,856)	35,380
Effect of dilutive securities:
Net income (loss) attributable to common stockholders after assumed conversions	$ (68,856)	$ 43,794
Weighted average common shares outstanding (in shares)	61,180	59,179
Weighted average common equivalent shares arising from dilutive stock options, restricted stock, convertible notes and convertible preferred stock (in shares)	0	22,720
Weighted average number of common and potential common shares (in shares)	61,180	81,899
Basic net earnings (loss) per share attributable to common stockholders (in usd per share)	$ (1.13)	$ 0.60
Diluted net earnings (loss) per share attributable to common stockholders (in usd per share)	$ (1.13)	$ 0.53
Debt instrument stated percentage			5.25%
5.25% Convertible Senior Notes
Effect of dilutive securities:
Dilutive securities	$ 0	$ 7,079
Redeemable preferred stock
Effect of dilutive securities:
Dilutive securities	$ 0	$ 1,335
Convertible Senior Notes
Effect of dilutive securities:
Debt instrument stated percentage	5.25%

PROPERTY AND EQUIPMENT - At Cost (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Property, Plant and Equipment [Abstract]
Land	$ 942	$ 942
Machinery and equipment	99,961	97,149
Leasehold improvements	23,711	21,917
Software	52,961	52,082
Other	24,230	28,147
Property plant and equipment, gross	201,805	200,237
Less: Accumulated depreciation and amortization	(110,537)	(93,605)
Property and equipment, net	$ 91,268	$ 106,632

PROPERTY AND EQUIPMENT - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 22,058	$ 16,791
Proceeds associated with the sale of property and equipment	19	20,748
Gain associated with the sale of property	(485)	12,692
Supply Chain
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets	3,000
Depreciation expense	5,600	6,800
Direct Marketing
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 16,400	$ 10,000

ACQUISITION OF IWCO DIRECT - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 15, 2017	Jul. 31, 2019	Jul. 31, 2018
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired		$ 0	$ 469,221
Goodwill		257,128	254,352
Operating income		(25,279)	(8,306)
Loss before income taxes		$ (62,099)	(35,288)
IWCO
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	$ 469,200
Proceeds from term loan under financing agreement	393,000
Receivable from escrow for working capital claims	2,500
Transaction price included one-time transaction incentive awards	3,500
Transaction costs	1,500
Intangible assets	213,250
Goodwill	257,128
Net revenue			299,400
Operating income			10,700
Loss before income taxes			$ 11,400
Trademarks and Trade Names \| IWCO
Business Acquisition [Line Items]
Intangible assets	$ 20,500
Acquired finite-lived intangible assets, weighted average useful life	3 years
Customer Relationships \| IWCO
Business Acquisition [Line Items]
Intangible assets	$ 192,700
Acquired finite-lived intangible assets, weighted average useful life	15 years

ACQUISITION OF IWCO DIRECT - Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018	Dec. 15, 2017
Business Acquisition [Line Items]
Goodwill	$ 257,128	$ 254,352
IWCO
Business Acquisition [Line Items]
Accounts receivable			$ 47,408
Inventories			32,994
Other current assets			10,624
Property and equipment			88,453
Intangible assets			213,250
Goodwill			257,128
Other assets			3,040
Accounts payable			(31,069)
Accrued liabilities and other current liabilities			(66,158)
Customer deposits			(7,829)
Deferred income taxes			(77,163)
Other long-term liabilities			(1,457)
Total consideration			469,221
As Originally Reported \| IWCO
Business Acquisition [Line Items]
Accounts receivable			47,841
Inventories			27,165
Other current assets			7,427
Property and equipment			87,976
Intangible assets			210,920
Goodwill			259,085
Other assets			3,040
Accounts payable			(31,069)
Accrued liabilities and other current liabilities			(35,790)
Customer deposits			(7,829)
Deferred income taxes			(79,918)
Other long-term liabilities			(19,627)
Total consideration			469,221
Adjustments \| IWCO
Business Acquisition [Line Items]
Accounts receivable			(433)
Inventories			5,829
Other current assets			3,197
Property and equipment			477
Intangible assets			2,330
Goodwill			(1,957)
Other assets			0
Accounts payable			0
Accrued liabilities and other current liabilities			(30,368)
Customer deposits			0
Deferred income taxes			2,755
Other long-term liabilities			18,170
Total consideration			$ 0

ACQUISITION OF IWCO DIRECT - Summary of Pro Forma Information (Detail) - IWCO $ in Thousands	12 Months Ended
	Jul. 31, 2018 USD ($)
Business Acquisition [Line Items]
Net revenue	$ 824,825
Net loss	$ (17,148)

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Goodwill [Line Items]
Goodwill	$ 257,128	$ 254,352
Intangible assets, carrying value	162,518
Customer Relationships
Goodwill [Line Items]
Intangible assets, gross	192,700
Intangible assets, carrying value	$ 153,100
Estimated useful life (years)	15 years
Trademarks and Trade Names
Goodwill [Line Items]
Intangible assets, gross	$ 20,500
Intangible assets, carrying value	$ 9,400
Estimated useful life (years)	3 years
Direct Marketing
Goodwill [Line Items]
Goodwill	$ 257,100
Reporting unit, percentage of fair value in excess of carrying amount	25.00%

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Future Amortization Expense of Intangible Assets (Detail) $ in Thousands	Jul. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 27,255
2021	20,258
2022	15,334
2023	11,427
2024	9,371
Thereafter	78,873
Total	$ 162,518

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Payables and Accruals [Abstract]
Accrued taxes	$ 59,057	$ 29,804
Accrued compensation	22,584	25,603
Accrued interest	467	1,437
Accrued audit, tax and legal	3,148	3,264
Accrued contract labor	1,650	1,932
Accrued worker's compensation	4,549	6,126
Accrued other	21,203	20,260
Accrued expenses	$ 112,658	$ 88,426

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Aug. 01, 2018	Jul. 31, 2018
Payables and Accruals [Abstract]
Accrued pricing liabilities	$ 14,309		$ 18,882
Customer postage deposits	11,816		12,638
Revolving credit facility	6,000		0
Other	6,921		10,509
Other current liabilities	$ 39,046	$ 38,699	$ 42,029

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Change in Accounting Estimate [Line Items]
Accrued taxes	$ 59,057	$ 29,804
Accrued pricing liabilities	14,309	18,882
Derecognition of accrued pricing liabilities	4,573	$ 0
Adjustment of Tax Related Liabilities
Change in Accounting Estimate [Line Items]
Accrued taxes	$ 32,100

DEBT - Summary of Debt (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Mar. 01, 2019	Jul. 31, 2018
Debt Instrument [Line Items]
Cerberus revolving credit facility	$ 6,000		$ 0
Current portion of long-term debt	5,732		5,727
5.25% Convertible Senior Notes Payable	0		50,274
Short-term debt	11,732		56,001
Convertible Senior Note	7,432		14,256
Long-term debt, excluding current portion	368,505		383,111
Long-term debt	375,937		397,367
Total debt	387,669		453,368
Debt instrument stated percentage		5.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Cerberus revolving credit facility	6,000		0
5.25% Convertible Senior Notes Payable
Debt Instrument [Line Items]
5.25% Convertible Senior Notes Payable	0		50,274
Convertible Senior Note	$ 0		14,256
Debt instrument stated percentage	5.25%
7.50% Convertible Senior Note
Debt Instrument [Line Items]
Convertible Senior Note	$ 7,432		$ 0
Debt instrument stated percentage	7.50%

DEBT - 5.25% Convertible Senior Note (Details) - USD ($)	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Mar. 01, 2019	Feb. 28, 2019	Mar. 18, 2014
Debt Instrument [Line Items]
Debt instrument stated percentage			5.25%
Convertible notes payable		$ 64,500,000	$ 65,600,000	$ 65,600,000
Convertible Notes payable	$ 0	50,274,000
Debt instrument, interest rate, effective percentage	18.47%
5.25% Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Principal amount of notes held					$ 100,000,000
Debt instrument stated percentage					5.25%
Debt instrument, interest expense	$ 4,916,000	$ 8,427,000
Debt instrument, interest rate, effective percentage	13.90%
SPHG Holdings
Debt Instrument [Line Items]
Debt instrument, interest expense	$ 1,165,000
SPHG Holdings \| Convertible Senior Unsecured Note
Debt Instrument [Line Items]
Principal amount of notes held				$ 14,900,000.0
Debt instrument stated percentage	7.50%			7.50%
Convertible Notes payable				$ 14,900,000

DEBT - Summary of Interest Expense Related to Convertible Notes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
5.25% Convertible Senior Notes Due 2019
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 4,916	$ 8,427
5.25% Convertible Senior Notes Due 2019 \| Interest expense related to contractual interest coupon
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	1,932	3,655
5.25% Convertible Senior Notes Due 2019 \| Interest expense related to accretion of the discount
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	2,741	4,384
5.25% Convertible Senior Notes Due 2019 \| Interest expense related to debt issuance costs
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	243	$ 388
SPHG Holdings
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	1,165
SPHG Holdings \| Interest expense related to contractual interest coupon
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	473
SPHG Holdings \| Interest expense related to accretion of the discount
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 692

DEBT - Net Carrying Value of Term Loan (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Debt Instrument [Line Items]
Total debt	$ 387,669	$ 453,368
Term Loan \| Cerberus Credit Facility
Debt Instrument [Line Items]
Principal amount outstanding on the Term Loan	375,125	390,000
Unamortized debt discount	(888)	(1,162)
Total debt	$ 374,237	$ 388,838

DEBT - PNC Bank and Cerberus Credit Facility (Details) - USD ($)				12 Months Ended
	Apr. 30, 2019	Dec. 15, 2017	Jun. 30, 2014	Jul. 31, 2019	Jul. 31, 2018
Debt Instrument [Line Items]
Proceeds from long-term debt				$ 0	$ 393,000,000
Aggregate amount of each consecutive quarterly scheduled principal installment		$ 1,500,000
Excess cash flow payments				8,900,000
Revolving credit facility				6,000,000	0
Current and long-term net				387,669,000	453,368,000
PNC Bank Credit Facility
Debt Instrument [Line Items]
Line of credit facility, term			5 years
Line of credit facility, maximum credit commitment	$ 25,000,000		$ 50,000,000
Line of credit facility, unutilized commitment fee percentage	0.25%
Credit facility, readily available borrowing capacity				13,800,000
Long-term line of credit				$ 0	$ 0
PNC Bank Credit Facility \| Letter of Credit Sublimit
Debt Instrument [Line Items]
Line of credit facility, maximum credit commitment	$ 5,000,000
PNC Bank Credit Facility \| Scenario 1 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	2.25%
PNC Bank Credit Facility \| Scenario 2 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	1.00%
PNC Bank Credit Facility \| Scenario 2 \| Federal Funds Open Rate
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	0.50%
Cerberus Credit Facility
Debt Instrument [Line Items]
Line of credit facility, term		5 years
Proceeds from long-term debt		$ 393,000,000
Revolving credit facility		$ 25,000,000
Excess cash flow payment percentage					50.00%
Leverage ratio				3.50%
Cerberus Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate		6.50%
Cerberus Credit Facility \| Base Rate
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate		3.75%
Cerberus Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum credit commitment				$ 19,000,000
Revolving credit facility				6,000,000	$ 0
Cerberus Credit Facility \| Term Loan
Debt Instrument [Line Items]
Principal amount outstanding on the Term Loan				375,125,000	390,000,000
Current and long-term net				$ 374,237,000	$ 388,838,000
Rate Applicable When Leverage Ratio is Below 3.50 \| Cerberus Credit Facility
Debt Instrument [Line Items]
Excess cash flow payment percentage				25.00%

DEBT - 7.5% Convertible Note (Details)	Feb. 28, 2019 USD ($) $ / shares	Jul. 31, 2019 USD ($)	Mar. 01, 2019	Jul. 31, 2018 USD ($)
Debt Instrument [Line Items]
Debt instrument stated percentage			5.25%
Debt instrument, redemption price percentage	100.00%
Carrying amount of equity component (net of allocated debt issuance costs)		$ 8,200,000
Long-term Debt		$ 375,937,000		$ 397,367,000
SPHG Holdings
Debt Instrument [Line Items]
Conversion ratio (shares)	0.4212655
Initial Conversion price (usd per share) \| $ / shares	$ 2.37
SPHG Holdings \| Convertible Senior Unsecured Note
Debt Instrument [Line Items]
Debt instrument stated percentage	7.50%	7.50%
Debt instrument issued	$ 14,900,000.0
SPHG Holdings \| Convertible Notes Payable
Debt Instrument [Line Items]
Debt instrument issued		$ 14,940,000
Long-term Debt		$ 7,432,000

DEBT - Net Carrying Value of the Notes (Detail) - USD ($)	Jul. 31, 2019	Jul. 31, 2018
Debt Instrument [Line Items]
Carrying amount of equity component (net of allocated debt issuance costs)	$ 8,200,000
Long-term debt	375,937,000	$ 397,367,000
SPHG Holdings \| Convertible Notes Payable
Debt Instrument [Line Items]
Principal amount of Notes	14,940,000
Unamortized debt discount	(7,508,000)
Long-term debt	$ 7,432,000

COMMITMENTS AND CONTINGENCIES - Future Annual Minimum Payments (Detail) $ in Thousands	Jul. 31, 2019 USD ($)
Other Commitments [Line Items]
2020	$ 50,602
2021	19,012
2022	15,307
2023	369,181
2024	19,137
Thereafter	19,895
Future Minimum Payments Due, Total	493,134
Operating Leases
Other Commitments [Line Items]
2020	16,534
2021	11,755
2022	8,082
2023	4,899
2024	3,544
Thereafter	19,895
Future Minimum Payments Due, Total	64,709
Capital Lease Obligations
Other Commitments [Line Items]
2020	147
2021	136
2022	104
2023	37
2024	0
Thereafter	0
Future Minimum Payments Due, Total	424
Purchase Obligations
Other Commitments [Line Items]
2020	26,800
2021	0
2022	0
2023	0
2024	0
Thereafter	0
Future Minimum Payments Due, Total	26,800
Debt Principal & Interest
Other Commitments [Line Items]
2020	7,121
2021	7,121
2022	7,121
2023	364,245
2024	15,593
Thereafter	0
Future Minimum Payments Due, Total	$ 401,201

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($)		12 Months Ended
	Dec. 15, 2017	Jul. 31, 2019	Jul. 31, 2018
Commitments and Contingencies [Line Items]
Total rent and equipment lease expense charged to continuing operations		$ 19,000,000	$ 19,200,000
Proceeds from issuance of preferred stock		0	$ 35,000,000
Purchase Agreement \| SPHG Holdings \| Series C Convertible Preferred Stock
Commitments and Contingencies [Line Items]
Proceeds from issuance of preferred stock	$ 35,000,000
Vendor Agreements
Commitments and Contingencies [Line Items]
Outstanding obligations		$ 0

DEFINED BENEFIT PENSION PLANS - Additional Information (Detail) $ in Millions	12 Months Ended
	Jul. 31, 2020 USD ($)	Jul. 31, 2019 USD ($) pension_plan	Jul. 31, 2018 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		$ 32.4	$ 27.7
Amount included in accumulated other comprehensive income expected to be recognized as a component of net periodic pension costs in fiscal year 2019		4.9
Market value of plan assets using Level 3 inputs		$ 27.3
Cumulative gains and losses in excess of the greater of the pension benefit obligation		10.00%
Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Minimum required contributions to the plans	$ 0.4
Netherlands
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| pension_plan		2
Unfunded Defined Benefit Pension Plans \| Japan
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| pension_plan		1

DEFINED BENEFIT PENSION PLANS - Schedule of Defined Benefit Plan Assets Fair Value Measurements (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	100.00%	100.00%
Defined benefit plan, fair value of plan assets	$ 27,267	$ 22,860	$ 21,204
Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	98.00%	98.00%
Other investments
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	2.00%	2.00%
Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	100.00%
Defined benefit plan, fair value of plan assets	$ 27,267	$ 22,860
Fair Value, Measurements, Recurring \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 27,267	22,860
Fair Value, Measurements, Recurring \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	98.00%
Defined benefit plan, fair value of plan assets	$ 26,651	22,339
Fair Value, Measurements, Recurring \| Insurance contract \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Insurance contract \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Insurance contract \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 26,651	22,339
Fair Value, Measurements, Recurring \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	2.00%
Defined benefit plan, fair value of plan assets	$ 616	521
Fair Value, Measurements, Recurring \| Other investments \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Other investments \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Other investments \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 616	$ 521

DEFINED BENEFIT PENSION PLANS - Aggregate Change in Benefit Obligation and Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Change in benefit obligation
Benefit obligation at beginning of year	$ 29,849	$ 27,464
Service cost	365	398
Interest cost	633	671
Actuarial loss	5,125	1,655
Employee contributions	72	93
Benefits and administrative expenses paid	(197)	(372)
Adjustments	(20)	(54)
Settlements	0	(21)
Currency translation	(1,289)	15
Benefit obligation at end of year	34,538	29,849
Change in plan assets
Fair value of plan assets at beginning of year	22,860	21,204
Actual return on plan assets	5,136	1,541
Employer contributions, net	422	402
Employee contributions	73	92
Settlements	(19)	(21)
Benefits and administrative expenses paid	(197)	(372)
Currency translation	(1,008)	14
Fair value of plan assets at end of year	27,267	22,860
Funded status
Current liability	(13)	(13)
Noncurrent liability	(7,259)	(6,976)
Net amount recognized in statement of financial position as a noncurrent liability	$ (7,272)	$ (6,989)

DEFINED BENEFIT PENSION PLANS - Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Projected benefit obligation	$ 34,538	$ 29,849
Accumulated benefit obligation	32,361	27,700
Fair value of plan assets	$ 27,267	$ 22,860

DEFINED BENEFIT PENSION PLANS - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Service cost	$ 365	$ 398
Interest costs	633	671
Expected return on plan assets	(492)	(529)
Amortization of net actuarial loss	127	125
Net periodic pension costs	$ 633	$ 665

DEFINED BENEFIT PENSION PLANS - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail)	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Discount rate	1.48%	2.22%
Rate of compensation increase	1.97%	1.93%

DEFINED BENEFIT PENSION PLANS - Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost (Detail)	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Discount rate	1.46%	2.21%
Expected long-term rate of return on plan assets	1.45%	2.20%
Rate of compensation increase	1.92%	1.94%

DEFINED BENEFIT PENSION PLANS - Summary of Expected Benefit Payments from Plans (Detail) $ in Thousands	Jul. 31, 2019 USD ($)
Retirement Benefits [Abstract]
2020	$ 205
2021	247
2022	245
2023	294
2024	444
Next 5 years	$ 2,436

REVENUE RECOGNITION - Disaggregated Revenue (Detail) - USD ($)	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 819,830,000	$ 645,258,000
Transferred at point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0
Supply chain management services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	331,022,000
Marketing solutions offerings
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	486,902,000
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,906,000
Products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	486,902,000	299,358,000
Products \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	486,902,000
Services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	332,928,000	$ 345,900,000
Services \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	332,928,000
Supply Chain
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	332,928,000
Supply Chain \| Supply chain management services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	331,022,000
Supply Chain \| Marketing solutions offerings
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0
Supply Chain \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,906,000
Supply Chain \| Products \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0
Supply Chain \| Services \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	332,928,000
Direct Marketing
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	486,902,000
Direct Marketing \| Supply chain management services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0
Direct Marketing \| Marketing solutions offerings
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	486,902,000
Direct Marketing \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0
Direct Marketing \| Products \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	486,902,000
Direct Marketing \| Services \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 0

REVENUE RECOGNITION - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Aug. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract assets	$ 21,500	$ 24,000
Deferred revenue current	2,900	3,700
Deferred revenue long-term	100	200
Accumulated deficit	(7,426,287)	(7,363,569)	$ (7,357,431)
Total net revenue	819,830	$ 645,258
Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accumulated deficit	6,888		$ 6,138
Total net revenue	$ 1,696

REVENUE RECOGNITION - Summary of Changes in Deferred Revenue (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2019 USD ($)
Change in Deferred Revenue
Balance at beginning of period	$ 3,858
Deferral of revenue	4,624
Recognition of deferred amounts upon satisfaction of performance obligation	(5,453)
Balance at end of period	$ 3,029

REVENUE RECOGNITION - Performance Obligations (Details) $ in Millions	Jul. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue	$ 2.9
Unearned revenue, timing of satisfaction	12 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue	$ 0.1
Unearned revenue, timing of satisfaction

REVENUE RECOGNITION - Cumulative Effect of the Changes to Consolidated Balance Sheet for the Adoption of Topic 606 (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Aug. 01, 2018	Jul. 31, 2018	Jul. 31, 2017
Assets
Inventories, net	$ 23,674	$ 26,553	$ 47,786
Prepaid expenses and other current assets	31,445	37,456	13,415
Total current assets	213,324	267,089	264,281
Total assets	731,563	829,858	827,050
Liabilities
Other current liabilities	39,046	38,699	42,029
Total current liabilities	256,850	273,026	276,356
Total liabilities	643,685	680,900	684,230
Stockholders' equity
Accumulated deficit	(7,426,287)	(7,357,431)	(7,363,569)
Total stockholders’ equity	52,692	113,766	107,628	$ 62,971
Total liabilities, contingently redeemable preferred stock and stockholders’ equity	731,563	829,858	827,050
Calculated under Revenue Guidance in Effect before Topic 606
Assets
Inventories, net	45,853		47,786
Prepaid expenses and other current assets	9,973		13,415
Total current assets	214,031		264,281
Total assets	732,270		827,050
Liabilities
Other current liabilities	46,641		42,029
Total current liabilities	264,445		276,356
Total liabilities	651,280		684,230
Stockholders' equity
Accumulated deficit	(7,433,175)		(7,363,569)
Total stockholders’ equity	45,804		107,628
Total liabilities, contingently redeemable preferred stock and stockholders’ equity	732,270		$ 827,050
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
Assets
Inventories, net	(22,179)	(21,233)
Prepaid expenses and other current assets	21,472	24,041
Total current assets	(707)	2,808
Total assets	(707)	2,808
Liabilities
Other current liabilities	(7,595)	(3,330)
Total current liabilities	(7,595)	(3,330)
Total liabilities	(7,595)	(3,330)
Stockholders' equity
Accumulated deficit	6,888	6,138
Total stockholders’ equity	6,888	6,138
Total liabilities, contingently redeemable preferred stock and stockholders’ equity	$ (707)	$ 2,808

REVENUE RECOGNITION - Impact of the Adoption on Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Aug. 01, 2018	Jul. 31, 2018	Jul. 31, 2017
ASSETS
Inventories, net	$ 23,674	$ 26,553	$ 47,786
Prepaid expenses and other current assets	31,445	37,456	13,415
Total current assets	213,324	267,089	264,281
Total assets	731,563	829,858	827,050
Liabilities
Other current liabilities	39,046	38,699	42,029
Total current liabilities	256,850	273,026	276,356
Total liabilities	643,685	680,900	684,230
Stockholders' equity
Accumulated deficit	(7,426,287)	(7,357,431)	(7,363,569)
Total stockholders’ equity	52,692	113,766	107,628	$ 62,971
Total liabilities, contingently redeemable preferred stock and stockholders’ equity	731,563	829,858	827,050
Calculated under Revenue Guidance in Effect before Topic 606
ASSETS
Inventories, net	45,853		47,786
Prepaid expenses and other current assets	9,973		13,415
Total current assets	214,031		264,281
Total assets	732,270		827,050
Liabilities
Other current liabilities	46,641		42,029
Total current liabilities	264,445		276,356
Total liabilities	651,280		684,230
Stockholders' equity
Accumulated deficit	(7,433,175)		(7,363,569)
Total stockholders’ equity	45,804		107,628
Total liabilities, contingently redeemable preferred stock and stockholders’ equity	732,270		$ 827,050
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
ASSETS
Inventories, net	(22,179)	(21,233)
Prepaid expenses and other current assets	21,472	24,041
Total current assets	(707)	2,808
Total assets	(707)	2,808
Liabilities
Other current liabilities	(7,595)	(3,330)
Total current liabilities	(7,595)	(3,330)
Total liabilities	(7,595)	(3,330)
Stockholders' equity
Accumulated deficit	6,888	6,138
Total stockholders’ equity	6,888	6,138
Total liabilities, contingently redeemable preferred stock and stockholders’ equity	$ (707)	$ 2,808

REVENUE RECOGNITION - Impact of the Adoption on Consolidated Statement of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total net revenue	$ 819,830	$ 645,258
Cost of revenue	670,100	543,999
Gross profit	149,730	101,259
Loss before income taxes	(62,099)	(35,288)
Net loss	(66,727)	36,715
Net loss attributable to common stockholders	$ (68,856)	$ 35,380
Basic and diluted net loss per share attributable to common stockholders (usd per share)	$ (1.13)
Calculated under Revenue Guidance in Effect before Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total net revenue	$ 818,134
Cost of revenue	669,154
Gross profit	148,980
Loss before income taxes	(62,849)
Net loss	(67,477)
Net loss attributable to common stockholders	$ (69,606)
Basic and diluted net loss per share attributable to common stockholders (usd per share)	$ (1.14)
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total net revenue	$ 1,696
Cost of revenue	946
Gross profit	750
Loss before income taxes	750
Net loss	750
Net loss attributable to common stockholders	$ 750
Basic and diluted net loss per share attributable to common stockholders (usd per share)	$ 0.01

OTHER GAINS (LOSSES) , NET - Components of Other Gains (Losses), Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Other Income and Expenses [Abstract]
Foreign currency exchange gains, net	$ 337	$ 1,055
Derecognition of accrued pricing liabilities	4,573	0
Gain, net on Trading Securities	0	1,876
Other, net	(307)	(708)
Other gains (losses), net	$ 4,603	$ 2,223

OTHER GAINS (LOSSES) , NET - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Component Of Other Expense Income Nonoperating [Line Items]
Other gains, net	$ 4,603	$ 2,223
Derecognition of accrued pricing liabilities	4,573	0
Net realized and unrealized foreign currency exchange gain (losses)	300	1,100
Other, net	(307)	(708)
Gains (losses) in trading securities	$ 0	1,876
Non Cash
Component Of Other Expense Income Nonoperating [Line Items]
Gains (losses) in trading securities		$ 1,900

SHARE-BASED PAYMENTS - Additional Information (Detail) $ in Millions		12 Months Ended
	Dec. 15, 2017 shares	Jul. 31, 2019 USD ($) plan shares	Jul. 31, 2018 USD ($) shares	Dec. 08, 2010 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans \| plan		2
Exercisable rate of options granted (in percentage)		25.00%
2010 Plan number of shares pursuant to stock options granted (in shares)		0	0
Stock options vested and expected to vest (in shares)		300,000
Weighted-average remaining contractual term (in years)		1 year 1 month 5 days
Non vested stock compensation expense \| $		$ 1.2	$ 10.7
Grant date fair value of nonvested stock \| $		0.5	$ 11.5
Unrecognized compensation cost related to nonvested stock \| $		$ 0.3
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock shares available for future issuance (in shares)		109,000
Number of shares pursuant to stock options granted (in shares)		600,000
Common stock purchase price as a percentage of market value (in percentage)		85.00%
Shares issued under plan (in shares)		17,000	10,000
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual terms, share options granted (in years)		7 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of cost expected to be expensed (in years)		4 months 18 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable terms (in years)		1 year
Term of restriction period (in years)		1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable terms (in years)		3 years
Term of restriction period (in years)		5 years
2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable terms (in years)		3 years
2005 Plan \| Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual terms, share options granted (in years)		10 years
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2010 Plan number of shares pursuant to stock options granted (in shares)		11,000,000
2010 Plan additional shares of common stock (in shares)				2,922,258
Common Stock shares available for future issuance (in shares)		4,498,546
2010 Plan \| Restricted Stock \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted (in shares)	4,000,000
Restricted stock award vested (in shares)	4,000,000
2010 Plan \| Market Performance Based Restricted Stock \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted (in shares)	1,500,000
Restricted stock award vested (in shares)		1,000,000

SHARE-BASED PAYMENTS - Summary of Share-Based Compensation (Benefit) Expense Related to Employee Stock Options, Employee Stock Purchases and Non-Vested Shares (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 1,267	$ 10,801
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	0	14
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 1,267	$ 10,787

SHARE-BASED PAYMENTS - Summary of Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Number of Shares
Stock options outstanding, July 31, 2018 (in shares)	438,000
Granted (in shares)	0	0
Exercised (in shares)	0
Forfeited or expired (in shares)	(113,000)
Stock options outstanding, July 31, 2019 (in shares)	325,000	438,000
Stock options exercisable, July 31, 2019 (in shares)	325,000
Weighted- Average Exercise Price
Stock options outstanding, July 31, 2018 (in usd per shares)	$ 3.99
Granted (in usd per shares)	0.00
Exercised (in usd per shares)	0.00
Forfeited or expired (in usd per shares)	3.74
Stock options outstanding, July 31, 2019 (in usd per shares)	4.07	$ 3.99
Stock options exercisable, July 31, 2019 (in usd per shares)	$ 4.07
Weighted-Average Remaining Contractual Term (Years)
Stock options outstanding, July 31, 2019	1 year 1 month 13 days
Stock options exercisable, July 31, 2019	1 year 1 month 13 days
Aggregate Intrinsic Value
Stock options outstanding, July 31, 2019	$ 0
Stock options exercisable, July 31, 2019	$ 0

SHARE-BASED PAYMENTS - Summary of Activity of Nonvested Stock (Detail) shares in Thousands	12 Months Ended
	Jul. 31, 2019 $ / shares shares
Number of Shares
Nonvested stock outstanding, July 31, 2018 (in shares) \| shares	1,165
Granted (in shares) \| shares	405
Vested (in shares) \| shares	(1,165)
Forfeited (in shares) \| shares	0
Nonvested stock outstanding, July 31, 2019 (in shares) \| shares	405
Weighted-Average Grant Date Fair Value
Nonvested stock outstanding, July 31, 2018 (in usd per shares) \| $ / shares	$ 0.44
Granted (in usd per shares) \| $ / shares	1.73
Vested (in usd per shares) \| $ / shares	0.44
Forfeited (in usd per shares) \| $ / shares	0.00
Nonvested stock outstanding, July 31, 2019 (in usd per shares) \| $ / shares	$ 1.73

INCOME TAXES - Components of Loss from Continuing Operations before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Income Tax Disclosure [Abstract]
U.S.	$ (68,959)	$ (60,574)
Foreign	6,860	25,286
Loss before income taxes	$ (62,099)	$ (35,288)

INCOME TAXES - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit) from operations	$ 4,670	$ (71,202)
Total income tax expense (benefit)	$ 4,670	$ (71,202)

INCOME TAXES - Components of Income Tax Expense from Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Current provision
Federal	$ 0	$ 0
State	288	0
Foreign	1,525	7,592
Current provision	1,813	7,592
Deferred provision:
Federal	1,563	(76,168)
State	753	(2,352)
Foreign	541	(274)
Deferred provision	2,857	(78,794)
Total tax provision	$ 4,670	$ (71,202)

INCOME TAXES - Additional Information (Detail) - USD ($)		1 Months Ended	12 Months Ended
	Jan. 01, 2018	Dec. 31, 2017	Jul. 31, 2019	Jul. 31, 2018	Dec. 15, 2017
Income Taxes [Line Items]
Net deferred tax assets			$ 46,564,000	$ 52,275,000
Change in valuation allowance			12,700,000	(333,400,000)
Statutory federal income tax rate	21.00%	35.00%
Reduction in the valuation allowance	$ 280,400,000
Interest expense related to uncertain tax positions	0
Provision for income tax expense (benefit)	280,400,000
Unrecognized tax benefits, including interest, related to federal, state and foreign taxes			2,400,000	1,600,000
Increase(decrease) in liabilities for interest expense related to uncertain tax positions			200,000	100,000
Expected any unrecognized tax benefits to reverse in the next twelve months			0
Parent Company
Income Taxes [Line Items]
Provision for income tax expense (benefit)	305,900,000
IWCO
Income Taxes [Line Items]
Provision for income tax expense (benefit)	$ (25,500,000)
Deferred tax liability					$ 77,000,000
Federal
Income Taxes [Line Items]
Operating loss carryforwards			2,100,000,000
State
Income Taxes [Line Items]
Operating loss carryforwards			160,000,000
Foreign
Income Taxes [Line Items]
Operating loss carryforwards			72,600,000
Foreign net operating loss carryforward with indefinite period			56,700,000
Federal and State
Income Taxes [Line Items]
Net capital loss carryforwards			19,400,000
Other Assets
Income Taxes [Line Items]
Net deferred tax assets			1,000,000	1,600,000
Other Long -term Liabilities
Income Taxes [Line Items]
Deferred tax liability			$ 100,000	$ 100,000

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Deferred tax assets:
Accruals and reserves	$ 21,297	$ 16,070
Tax basis in excess of financial basis of investments in affiliates	6,534	6,232
Tax basis in excess of financial basis for intangible and fixed assets	187	311
Net operating loss and capital loss carry forwards	469,735	468,129
Total gross deferred tax assets	497,753	490,742
Less: valuation allowance	(451,189)	(438,467)
Net deferred tax assets	46,564	52,275
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	(43,885)	(50,141)
Convertible Debt	(1,761)	(634)
Total gross deferred tax liabilities	(45,646)	(50,775)
Net deferred tax asset	$ 918	$ 1,500

INCOME TAXES - Difference of Income Tax Expense Attributable to Income from Continuing Operations and Expense Computed using U.S. Federal Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Income Tax Disclosure [Abstract]
Computed expected income tax expense (benefit)	$ (13,041)	$ (9,467)
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	16,158	(329,415)
Foreign dividends	0	7,379
Foreign tax rate differential	(593)	(1,948)
Federal rate change	0	280,438
Nondeductible goodwill impairment	0	191
Nondeductible expenses	2,484	(15,852)
Foreign withholding taxes	336	1,961
Addition (reversal) of uncertain tax position reserves	645	(48)
State benefit of U.S. Loss	0	(4,654)
State income taxes, net of federal benefit	113	0
Other	(1,432)	213
Total tax provision	$ 4,670	$ (71,202)

INCOME TAXES - Reconciliation of Beginning and Ending Balances of Total Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of beginning of year	$ 1,525	$ 681
Additions for current year tax positions	704	903
Currency translation	(22)	0
Reductions for lapses in statute of limitations	0	(59)
Balance as of end of year	$ 2,207	$ 1,525

ACCUMULATED OTHER COMPREHENSIVE INCOME - Accumulated Other Comprehensive Income, Net of Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	$ 107,628	$ 62,971
Foreign currency translation adjustment	(1,331)	(1,174)
Net unrealized holding loss on securities	(85)	14
Pension liability adjustments	(284)	(419)
Other comprehensive loss	(1,700)	(1,579)
Balance	52,692	107,628
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	2,734	4,313
Foreign currency translation adjustment	(1,331)
Net unrealized holding loss on securities	(85)
Pension liability adjustments	(284)
Other comprehensive loss	(1,700)	(1,579)
Balance	1,034	2,734
Foreign currency items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	6,348
Foreign currency translation adjustment	(1,331)
Net unrealized holding loss on securities	0
Pension liability adjustments	0
Other comprehensive loss	(1,331)
Balance	5,017	6,348
Pension items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(3,795)
Foreign currency translation adjustment	0
Net unrealized holding loss on securities	0
Pension liability adjustments	(284)
Other comprehensive loss	(284)
Balance	(4,079)	(3,795)
Unrealized gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	181
Foreign currency translation adjustment	0
Net unrealized holding loss on securities	(85)
Pension liability adjustments	0
Other comprehensive loss	(85)
Balance	$ 96	$ 181

ACCUMULATED OTHER COMPREHENSIVE INCOME - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Equity [Abstract]
Other comprehensive income (loss), tax	$ 0.1	$ 0.1

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Reconciliation of Cash (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 32,548	$ 92,138
Funds held for clients	13,516	11,688
Cash, cash equivalents and restricted cash	$ 46,064	$ 103,826	$ 124,124

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Cash Used for Operating Activities Reflect Cash Payments for Interest and Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 38,525	$ 24,642
Cash paid for income taxes	$ 5,451	$ 2,567

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Issuance of nonvested common stock ( in shares)	0.4	6.7
Issuance of nonvested common stock, value	$ 0.7	$ 11.5

STOCKHOLDERS' EQUITY - Additional Information (Detail) $ / shares in Units, $ in Thousands			12 Months Ended
	Dec. 15, 2017 USD ($) d $ / shares shares	Mar. 12, 2013 USD ($) $ / shares shares	Jul. 31, 2019 USD ($) $ / shares shares	Jul. 31, 2018 USD ($) $ / shares shares
Equity [Line Items]
Preferred stock, shares issued (in share) \| shares			0	0
Preferred stock, par value (in usd per share)			$ 0.01	$ 0.01
Price per share (usd per share)		$ 4.00
Proceeds from issuance of preferred stock \| $			$ 0	$ 35,000
Common stock, par value (in usd per share)			$ 0.01	$ 0.01
Percentage of declared dividends	100.00%
Issuance of common stock (in shares) \| shares		7,500,000
Proceeds from issuance of common stock, gross \| $		$ 30,000
Common stock issuance, transaction cost \| $		2,300
Net proceeds from issuance of common stock \| $		$ 27,700	$ 15	$ 8
Issuance of warrants to acquire additional shares (in shares) \| shares	2,000,000	2,000,000
Issuance of warrants to acquire additional shares, exercise price (usd per share)		$ 5.00
Warrants expiration term		5 years
Series C Convertible Preferred Stock
Equity [Line Items]
Common stock, par value (in usd per share)	$ 0.01
Convertible preferred stock conversion price per share (usd per share)	$ 1.96
Preferred stock, dividend rate, percentage	6.00%
Percentage threshold closing sale price of common stock higher than conversion price	170.00%
Series C Convertible Preferred Stock \| Minimum
Equity [Line Items]
Trading days \| d	5
Purchase Agreement \| SPHG Holdings \| Series C Convertible Preferred Stock
Equity [Line Items]
Preferred stock, shares issued (in share) \| shares	35,000
Preferred stock, par value (in usd per share)	$ 0.01
Price per share (usd per share)	$ 1,000
Proceeds from issuance of preferred stock \| $	$ 35,000
Percentage of stated value	100.00%
Repurchase Agreements \| Warrant \| Steel Holdings
Equity [Line Items]
Repurchase price of warrant (per share)	$ 100

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on Recurring Basis and Classified by Fair Value Hierarchy (Detail) - Fair Value, Measurements, Recurring - Money market funds - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 365	$ 47,186
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	365	47,186
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Plan Assets Measured at Fair Value on Recurring Basis Classified by Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 27,267	$ 22,860	$ 21,204
Asset Allocations	100.00%	100.00%
Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	98.00%	98.00%
Other investments
Defined Benefit Plan Disclosure [Line Items]
Asset Allocations	2.00%	2.00%
Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 27,267	$ 22,860
Asset Allocations	100.00%
Fair Value, Measurements, Recurring \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 26,651	22,339
Asset Allocations	98.00%
Fair Value, Measurements, Recurring \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 616	521
Asset Allocations	2.00%
Fair Value, Measurements, Recurring \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	0
Fair Value, Measurements, Recurring \| Level 1 \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 1 \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	27,267	22,860
Fair Value, Measurements, Recurring \| Level 3 \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	26,651	22,339
Fair Value, Measurements, Recurring \| Level 3 \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 616	$ 521

FAIR VALUE MEASUREMENTS - Summary of Changes in Fair Value of Pension Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Change in plan assets
Fair value of plan assets at beginning of year	$ 22,860	$ 21,204
Actual return on plan assets	5,136	1,541
Employer contributions, net	422	402
Employee contributions	73	92
Settlements	(19)	(21)
Benefits and administrative expenses paid	(197)	(372)
Currency translation	(1,008)	14
Fair value of plan assets at end of year	$ 27,267	$ 22,860

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($)	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Fair Value Disclosures [Abstract]
Plan assets, actual allocation, percentage	100.00%
Fair value, assets, Level 1 to Level 2 transfers, amount	$ 0	$ 0
Fair value, assets, Level 2 to Level 1 transfers, amount	0	0
Fair value, assets, transfers into Level 3	0	0
Fair value, assets, transfers out of Level 3	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Notes Payable not Carried at Fair Value (Detail) $ in Thousands	Jul. 31, 2018 USD ($)
Fair Value Disclosures [Abstract]
Note payable	$ 64,530
Notes payable, Fair Value	$ 66,658

SEGMENT INFORMATION - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2019 USD ($) segment	Jul. 31, 2018 USD ($)	Aug. 01, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment	2
Number of reportable segments \| segment	2
Total assets	$ 731,563	$ 827,050	$ 829,858
Total net revenue	819,830	645,258
U.S
Segment Reporting Information [Line Items]
Total assets	86,300	101,800
Total net revenue	557,200	358,300
China
Segment Reporting Information [Line Items]
Total net revenue	142,400	112,300
Netherlands
Segment Reporting Information [Line Items]
Total net revenue	51,400	59,500
Czech Republic
Segment Reporting Information [Line Items]
Total net revenue	$ 4,700	$ 48,700

SEGMENT INFORMATION - Summarized Financial Information of Continuing Operations by Operating Segment and Corporate-Level Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 819,830	$ 645,258
Operating income (loss)	(25,279)	(8,306)
Total other income (expense)	(36,820)	(26,982)
Loss before income taxes	(62,099)	(35,288)
Supply Chain
Segment Reporting Information [Line Items]
Revenues	332,928
Direct Marketing
Segment Reporting Information [Line Items]
Revenues	486,902
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	(12,976)	11,353
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Revenues	332,928	345,900
Operating income (loss)	(3,822)	613
Operating Segments \| Direct Marketing
Segment Reporting Information [Line Items]
Revenues	486,902	299,358
Operating income (loss)	(9,154)	10,740
Corporate-level activity
Segment Reporting Information [Line Items]
Operating income (loss)	$ (12,303)	$ (19,659)

SEGMENT INFORMATION - Total Assets of Continuing Operations (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Aug. 01, 2018	Jul. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 731,563	$ 829,858	$ 827,050
Operating Segments
Segment Reporting Information [Line Items]
Total assets	713,102		762,943
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Total assets	112,712		120,123
Operating Segments \| Direct Marketing
Segment Reporting Information [Line Items]
Total assets	600,390		642,820
Corporate-level activity
Segment Reporting Information [Line Items]
Total assets	$ 18,461		$ 64,107

SEGMENT INFORMATION - Summarized Financial Information of Net Revenue from External Customers by Group of Services (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 819,830	$ 645,258
Supply Chain
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	332,928	345,900
Direct Marketing
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 486,902	$ 299,358

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Mar. 01, 2019	Dec. 15, 2017	Mar. 12, 2013	Jul. 31, 2019	Jul. 31, 2018	Feb. 28, 2019	Dec. 04, 2018
Related Party Transaction [Line Items]
Preferred stock, par value (in usd per share)				$ 0.01	$ 0.01
Convertible Notes payable				$ 0	$ 50,274
Debt instrument stated percentage	5.25%
Convertible notes payable	$ 65,600				$ 64,500	$ 65,600
Preferred stock, shares issued (in share)				0	0
Price per share (usd per share)			$ 4.00
Proceeds from issuance of preferred stock				$ 0	$ 35,000
Issuance of warrants to acquire additional shares (in shares)		2,000,000	2,000,000
Steel Holdings \| 5.25% Convertible Senior Notes
Related Party Transaction [Line Items]
Ownership percentage in capital stock							56.30%
Preferred stock, par value (in usd per share)							$ 0.01
SPHG Holdings \| Convertible Senior Unsecured Note
Related Party Transaction [Line Items]
Convertible Notes payable						$ 14,900
Debt instrument stated percentage				7.50%		7.50%
Purchase Agreement \| SPHG Holdings \| Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, par value (in usd per share)		$ 0.01
Preferred stock, shares issued (in share)		35,000
Price per share (usd per share)		$ 1,000
Proceeds from issuance of preferred stock		$ 35,000
SPHG Holdings
Related Party Transaction [Line Items]
Repayments of Debt	65,600
Convertible notes payable	$ 14,900				14,900
SPHG Holdings \| Convertible Senior Unsecured Note
Related Party Transaction [Line Items]
Convertible Notes payable						$ 14,900
Debt instrument stated percentage	5.25%					7.50%
Steel Services Ltd \| Management Services Agreement
Related Party Transaction [Line Items]
Total expenses incurred related to Management Services Agreement and Transfer Agreement				$ 1,800	1,900
SP Corporate Services Llc and Steel Services Limited \| Management Services Agreement
Related Party Transaction [Line Items]
Amount due to related parties				$ 500	200
SPHG Holdings \| IWCO \| Affiliated Entity [Member] \| Reimbursement of Air Travel
Related Party Transaction [Line Items]
Air travel costs reimbursed					$ 500
Repurchase Agreements \| Warrant \| Steel Holdings
Related Party Transaction [Line Items]
Repurchase price of warrant (per share)		$ 100

PARENT COMPANY CONDENSED FINANCIAL INFORMATION - Additional Information (Detail) - IWCO - Cerberus Credit Facility	Jul. 31, 2019 USD ($)
Supplemental Financial Information [Line Items]
Funds held for clients	$ 9,600,000
Maximum
Supplemental Financial Information [Line Items]
Cash distributions	$ 5,000,000

PARENT COMPANY CONDENSED FINANCIAL INFORMATION - Schedule of Balance Sheet (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Aug. 01, 2018	Jul. 31, 2018	Jul. 31, 2017
ASSETS
Cash and cash equivalents	$ 32,548		$ 92,138
Prepaid expenses and other current assets	31,445	$ 37,456	13,415
Total current assets	213,324	267,089	264,281
Other assets	7,325		8,821
Total assets	731,563	829,858	827,050
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Accounts payable	85,898		78,212
Accrued expenses	112,658		88,426
Convertible Notes payable	0		50,274
Total current liabilities	256,850	273,026	276,356
Convertible Notes payable	7,432		14,256
Total long-term liabilities	386,835		407,874
Total liabilities	643,685	680,900	684,230
Contingently redeemable preferred stock, $0.01 par value per share. 35,000 shares authorized, issued and outstanding at July 31, 2019 and 2018	35,186		35,192
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2019 and July 31, 2018; zero shares issued and outstanding at July 31, 2019 and July 31, 2018	0		0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 61,805,856 issued and outstanding shares at July 31, 2019; 60,742,859 issued and outstanding shares at July 31, 2018	618		608
Additional paid-in capital	7,477,327		7,467,855
Accumulated deficit	(7,426,287)	(7,357,431)	(7,363,569)
Accumulated other comprehensive income	1,034		2,734
Total stockholders' equity	52,692	113,766	107,628	$ 62,971
Total liabilities, contingently redeemable preferred stock and stockholders' equity	731,563	$ 829,858	827,050
Parent Company
ASSETS
Cash and cash equivalents	4,083		7,978
Prepaid expenses and other current assets	227		120
Total current assets	4,310		8,098
Investments in affiliates	96,940		188,534
Other assets	337		87
Due from subsidiaries	0		13,579
Total assets	101,587		210,298
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Accounts payable	1,253		674
Accrued expenses	2,364		2,274
Convertible Notes payable	0		50,274
Total current liabilities	3,617		53,222
Convertible Notes payable	7,432		14,256
Due to subsidiaries	2,660
Total long-term liabilities	10,092		14,256
Total liabilities	13,709		67,478
Contingently redeemable preferred stock, $0.01 par value per share. 35,000 shares authorized, issued and outstanding at July 31, 2019 and 2018	35,186		35,192
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2019 and July 31, 2018; zero shares issued and outstanding at July 31, 2019 and July 31, 2018	0		0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 61,805,856 issued and outstanding shares at July 31, 2019; 60,742,859 issued and outstanding shares at July 31, 2018	618		608
Additional paid-in capital	7,477,327		7,467,855
Accumulated deficit	(7,426,287)		(7,363,569)
Accumulated other comprehensive income	1,034		2,734
Total stockholders' equity	52,692		107,628
Total liabilities, contingently redeemable preferred stock and stockholders' equity	$ 101,587		$ 210,298

PARENT COMPANY CONDENSED FINANCIAL INFORMATION - Schedule of Balance Sheet -Additional Information (Detail) - $ / shares	Jul. 31, 2019	Jul. 31, 2018
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares Authorized (in share)	4,965,000	4,965,000
Preferred stock, shares issued (in share)	0	0
Preferred stock, shares outstanding (in share)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares Authorized (in share)	1,400,000,000	1,400,000,000
Common stock, shares issued (in share)	61,805,856	60,742,859
Common stock, shares outstanding (in share)	61,805,856	60,742,859
Redeemable preferred stock
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares Authorized (in share)	35,000	35,000
Preferred stock, shares issued (in share)	35,000	35,000
Preferred stock, shares outstanding (in share)	35,000	35,000
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares Authorized (in share)	4,965,000	4,965,000
Preferred stock, shares issued (in share)	0	0
Preferred stock, shares outstanding (in share)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares Authorized (in share)	1,400,000,000	1,400,000,000
Common stock, shares issued (in share)	61,805,856	60,742,859
Common stock, shares outstanding (in share)	61,805,856	60,742,859
Parent Company \| Redeemable preferred stock
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares Authorized (in share)	35,000	35,000
Preferred stock, shares issued (in share)	35,000	35,000
Preferred stock, shares outstanding (in share)	35,000	35,000

PARENT COMPANY CONDENSED FINANCIAL INFORMATION - Schedule of Statements of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Condensed Income Statements, Captions [Line Items]
Selling, general and administrative	$ 144,078	$ 101,972
Total operating expenses	175,009	109,565
Operating loss	(25,279)	(8,306)
Other income (expense):
Interest expense	(41,951)	(29,884)
Other income (expense), net	4,603	2,223
Total other expense	(36,820)	(26,982)
Loss before income taxes	(62,099)	(35,288)
Gains on investments in affiliates, net of tax	(42)	(801)
Net income (loss)	(66,727)	36,715
Parent Company
Condensed Income Statements, Captions [Line Items]
Selling, general and administrative	12,303	16,742
Total operating expenses	12,303	16,742
Operating loss	(12,303)	(16,742)
Other income (expense):
Interest expense	(6,081)	(8,427)
Other income (expense), net	(306)	6,807
Total other expense	(6,387)	(1,620)
Loss before income taxes	(18,690)	(18,362)
Equity (gains) losses of subsidiaries, net of tax	48,079	(54,276)
Gains on investments in affiliates, net of tax	(42)	(801)
Net income (loss)	$ (66,727)	$ 36,715

PARENT COMPANY CONDENSED FINANCIAL INFORMATION - Schedule of Statements of Cash Flows (Detail) - USD ($) $ in Thousands		12 Months Ended
	Mar. 12, 2013	Jul. 31, 2019	Jul. 31, 2018
Cash flows from operating activities:
Net income (loss)		$ (66,727)	$ 36,715
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred financing costs		771	1,072
Share-based compensation		1,267	10,801
Gains on investments in affiliates and impairments		(42)	(801)
Changes in operating assets and liabilities, net of business acquired:
Prepaid expenses and other current assets		5,519	4,797
Other assets and liabilities		2,316	(6,176)
Net cash provided by operating activities		20,849	10,002
Cash flows from investing activities:
Net cash used in investing activities		(14,478)	(452,320)
Cash flows from financing activities:
Proceeds from issuance of preferred stock		0	35,000
Proceeds from issuance of Convertible Note		14,940	0
Payments on maturity of Convertible Notes		(63,925)	0
Payment of preferred dividends		(2,129)	(1,143)
Purchase of the Company's Convertible Notes		(3,700)	0
Proceeds from issuance of common stock	$ 27,700	15	8
Net cash provided by (used in) financing activities		(63,812)	421,879
Net decrease in cash, cash equivalents and restricted cash		(57,762)	(20,298)
Cash, cash equivalents and restricted cash, beginning of period		103,826	124,124
Cash, cash equivalents and restricted cash, end of period		46,064	103,826
Parent Company
Cash flows from operating activities:
Net income (loss)		(66,727)	36,715
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred financing costs		243	388
Accretion of debt discount		3,433	4,384
Share-based compensation		1,267	10,763
Non-cash (gains) losses, net		7	(354)
Equity (gains) losses of subsidiaries, net of tax		48,079	(54,276)
Gains on investments in affiliates and impairments		(42)	(801)
Changes in operating assets and liabilities, net of business acquired:
Prepaid expenses and other current assets		(107)	(36)
Accounts payable and accrued expenses		669	698
Other assets and liabilities		(250)	(1,860)
Net cash provided by operating activities		(13,428)	(4,379)
Cash flows from investing activities:
Intercompany advances, net		64,332	(22,216)
Net cash used in investing activities		64,332	(22,216)
Cash flows from financing activities:
Proceeds from issuance of preferred stock		0	35,000
Proceeds from issuance of Convertible Note		14,940	0
Payments on maturity of Convertible Notes		(63,925)	0
Payment of preferred dividends		(2,129)	(1,143)
Purchase of the Company's Convertible Notes		(3,700)	0
Proceeds from issuance of common stock		15	8
Net cash provided by (used in) financing activities		(54,799)	33,865
Net decrease in cash, cash equivalents and restricted cash		(3,895)	7,270
Cash, cash equivalents and restricted cash, beginning of period		7,978	708
Cash, cash equivalents and restricted cash, end of period		$ 4,083	$ 7,978