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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2015
Cash flows from operating activities      
Net income $ 71,378 $ 59,953 $ 47,953
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 15,045 11,989 10,692
Amortization 18,407 13,095 13,265
Stock-based compensation expense 8,844 8,361 5,867
Amortization of debt issuance costs 401 401 401
Loss on disposal of fixed assets 966 553 360
Loss on sale of business 0 0 2,206
Impairment of assets 0 0 1,287
Fair value adjustments to acquisition related liabilities (265) (687) (2,585)
Deferred income taxes 118 (1,710) (1,449)
Excess tax benefits from stock-based compensation 0 (1,179) (3,168)
Changes in assets and liabilities, net of effects of business acquisitions/divestiture:      
Accounts receivable (12,860) (12,729) (3,905)
Inventories 887 (15,558) (10,075)
Prepaid expenses and other current assets (1,005) (2,850) (2,996)
Accounts payable and other current liabilities 7,039 17,657 (3,347)
Income taxes (895) 2,972 4,564
Other assets and liabilities 133 0 0
Net cash provided by operating activities 108,193 80,268 59,070
Cash flows from investing activities      
Capital expenditures (27,065) (18,889) (12,760)
Proceeds from disposal of fixed assets 47 96 25
Proceeds from sale of business, net of cash retained and disposal costs 0 0 3,767
Acquisition of businesses, net of cash acquired (70,044) (94,528) (43,567)
Other, net 0 339 241
Net cash used in investing activities (97,062) (112,982) (52,294)
Cash flows from financing activities      
Borrowings under revolving credit facility 74,000 96,500 47,000
Repayments under revolving credit facility (64,000) (59,000) (49,000)
Proceeds from exercises of stock options 0 0 608
Dividends paid (5,841) (5,005) (4,154)
Excess tax benefits from stock-based compensation 0 1,179 3,168
Purchases of treasury stock (6,910) (3,732) (3,727)
Net cash (used in) provided by financing activities (2,751) 29,942 (6,105)
Effect of exchange rate changes on cash and cash equivalents (163) (581) (732)
Increase (decrease) in cash and cash equivalents 8,217 (3,353) (61)
Cash and cash equivalents at beginning of period 28,367 31,720 31,781
Cash and cash equivalents at end of period 36,584 28,367 31,720
Supplemental disclosures of cash flow information:      
Cash interest payments 3,455 3,001 1,970
Cash income tax payments $ 35,858 $ 33,559 $ 25,239