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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
May 31, 2021
May 31, 2020
May 31, 2021
May 31, 2020
Operating Activities:        
Net income $ 22,581 $ 12,633 $ 78,725 $ 58,053
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     48,350 44,867
Allowance for doubtful accounts     19 (18)
Loss on sale of property and equipment     568 251
Deferred income taxes     (2,748) (4,079)
Equity in losses of unconsolidated affiliates 13 16 34 79
Stock-based compensation     13,221 9,976
Change in operating assets and liabilities:        
Receivables, prepaid expenses and other current assets, non-current assets, accrued salaries and benefits, deferred membership income and other accruals     6,147 (157)
Merchandise inventories     (27,136) 62,511
Accounts payable     (37,213) 2,647
Net cash provided by operating activities     79,967 174,130
Investing Activities:        
Additions to property and equipment     (73,350) (89,713)
Purchases of short-term investments     (58,355) (31,711)
Proceeds from settlements of short-term investments     37,605 8,891
Purchases of long-term investments     (1,479) (1,489)
Proceeds from settlements of long-term investments     1,479  
Proceeds from disposal of property and equipment     109 44
Net cash used in investing activities     (93,991) (113,978)
Financing Activities:        
Proceeds from long-term bank borrowings     3,000 57,820
Repayment of long-term bank borrowings     (13,135) (7,542)
Proceeds from short-term bank borrowings       271,014
Repayment of short-term bank borrowings     (64,916) (207,368)
Cash dividend payments     (11,108) (10,811)
Purchase of treasury stock     (2,574) (1,585)
Other financing activities     (223) (20)
Net cash provided by (used in) financing activities     (88,956) 101,508
Effect of exchange rate changes on cash and cash equivalents and restricted cash     (2,351) (1,872)
Net increase (decrease) in cash, cash equivalents     (105,331) 159,788
Cash, cash equivalents and restricted cash at beginning of period     303,771 106,236
Cash, cash equivalents and restricted cash at end of period 198,440 266,024 198,440 266,024
Supplemental disclosure of noncash investing activities:        
Capital expenditures accrued, but not yet paid     8,763 7,975
Dividends declared but not yet paid 10,755 10,719 10,755 10,719
Reconciliation of cash, cash equivalents, and restricted cash:        
Cash and cash equivalents 190,687 261,788 190,687 261,788
Short-term restricted cash 781 240 781 240
Long-term restricted cash 6,972 3,996 6,972 3,996
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 198,440 $ 266,024 $ 198,440 $ 266,024