XML 73 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Aug. 31, 2013
Aug. 31, 2012
Cash flows from operating activities:    
Net income attributable to AAR and noncontrolling interest $ 18.0 $ 18.3
Adjustments to reconcile net income attributable to AAR and noncontrolling interest to net cash provided from operating activities:    
Depreciation and amortization 19.3 20.3
Amortization of stock-based compensation 1.6 2.9
Amortization of debt discount 1.5 2.9
Amortization of overhaul costs 8.7 5.9
Deferred tax provision 4.1 5.6
Loss on extinguishment of debt   0.2
Earnings from joint ventures (1.2) (1.4)
Changes in certain assets and liabilities:    
Accounts and notes receivable 12.0 20.7
Inventories (15.3) (4.3)
Rotable spares and equipment on or available for short-term lease 6.6 (1.5)
Equipment on long-term lease (1.9) 1.3
Accounts payable (1.4) (25.6)
Accrued and other liabilities (29.0) (3.4)
Other, primarily program and overhaul costs 4.5 (8.7)
Net cash provided from operating activities 27.5 33.2
Cash flows from investing activities:    
Property, plant and equipment expenditures (7.2) (11.0)
Proceeds from sale of equipment   11.0
Payments for acquisitions   (16.5)
Other (0.1) (0.4)
Net cash used in investing activities (7.3) (16.9)
Cash flows from financing activities:    
Proceeds from borrowings   20.0
Reduction in borrowings (7.7) (27.6)
Reduction in equity due to convertible bond repurchases   (0.3)
Cash dividends (3.0) (3.0)
Purchase of treasury stock   (6.1)
Stock option exercises 5.2  
Tax benefits from exercise of stock options 0.8  
Net cash used in financing activities (4.7) (17.0)
Effect of exchange rate changes on cash 0.1 0.7
Increase in cash and cash equivalents 15.6  
Cash and cash equivalents, beginning of period 75.3 67.7
Cash and cash equivalents, end of period $ 90.9 $ 67.7