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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Apr. 30, 2018
Apr. 30, 2017
Cash flows from operating activities    
Net income $ 74,153 $ 54,381
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 12,816 10,922
Amortization 12,892 11,930
Stock-based compensation expense 7,033 6,983
Deferred income taxes (7,499) (97)
Other non-cash items, net 586 519
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 892 (13,108)
Inventories (9,791) (2,334)
Prepaid expenses and other assets (7,256) (2,924)
Accounts payable and other liabilities 13,859 9,220
Income taxes (7,682) (2,108)
Net cash provided by operating activities 90,003 73,384
Cash flows from investing activities    
Capital expenditures (23,772) (20,765)
Proceeds from disposal of fixed assets 0 43
Acquisition of businesses, net of cash acquired (84,595) (69,998)
Other, net 0 344
Net cash used in investing activities (108,367) (90,376)
Cash flows from financing activities    
Borrowings under revolving credit facility 82,300 74,000
Repayments under revolving credit facility (39,300) (45,000)
Dividends paid (3,546) (2,921)
Purchases of treasury stock (6,216) (6,387)
Net cash provided by financing activities 33,238 19,692
Effect of exchange rate changes on cash and cash equivalents 458 (194)
Increase in cash and cash equivalents 15,332 2,506
Cash and cash equivalents at beginning of period 36,584 28,367
Cash and cash equivalents at end of period $ 51,916 $ 30,873