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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
May 31, 2016
May 31, 2015
Operating Activities:    
Net income $ 66,451 $ 66,677
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29,003 25,173
Allowance for doubtful accounts   2
(Gain)/loss on sale of property and equipment 399 1,087
Deferred income taxes (1,222) 3,388
Excess tax benefit on stock-based compensation (579) (1,220)
Equity in (gains) losses of unconsolidated affiliates (362) (92)
Stock-based compensation 6,731 4,622
Chnage in operating assets and liabilities:    
Receivables, prepaid expenses and other current assets, accrued salaries and benefits, deferred membership income and other accruals (2,281) (9,101)
Merchandise inventories 13,397 (39,801)
Accounts payable 631 15,003
Net cash provided by (used in) operating activities 112,168 65,738
Investing Activities:    
Additions to property and equipment (51,462) (63,041)
Deposits for land purchase option agreements (442) 903
Proceeds from disposal of property and equipment 96 67
Investment in joint ventures (119) (1,360)
Net cash provided by (used in) investing activities (51,927) (63,431)
Financing Activities:    
Proceeds from long-term bank borrowings 7,370 45,477
Repayment of long-term bank borrowings (10,191) (27,783)
Proceeds from short-term bank borrowings 18,829 34,970
Repayment of short-term bank borrowings (15,214) (33,300)
Cash dividend payments (10,629) (10,564)
Release of restricted cash   2,920
Excess tax benefit on stock-based compensation 579 1,220
Purchase of treasury stock (2,017) (4,500)
Proceeds from exercise of stock options 80 49
Net cash provided by (used in) financing activities (11,193) 8,489
Effect of exchange rate changes on cash and cash equivalents (3,504) (2,301)
Net increase (decrease) in cash and cash equivalents 45,544 8,495
Cash and cash equivalents at beginning of period 157,072 137,098
Cash and cash equivalents at end of period 202,616 145,593
Cash paid during the period for:    
Interest, net of amounts capitalized 3,991 4,391
Income taxes 39,297 33,583
Dividends declared but not paid $ 10,629 $ 10,564