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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Cash flows from operating activities    
Net income $ 19,291 $ 46,217
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 22,105 15,455
Amortization 23,952 15,508
Stock-based compensation expense 8,843 11,885
Amortization of right-of-use assets 9,162  
Deferred income taxes (2,822) (2,671)
Inventory step-up amortization 16,700 0
Fair value adjustments to contingent consideration (6,423) 0
Other non-cash items, net 3,853 263
Changes in assets and liabilities, net of effects of acquisitions/dispositions:    
Accounts receivable 26,990 (18,642)
Inventories (3,514) (24,671)
Prepaid expenses and other assets 2,653 (4,929)
Accounts payable and other liabilities (8,608) 13,608
Income taxes (11,883) (3,537)
Operating lease liabilities (7,456)  
Net cash provided by operating activities 92,843 48,486
Cash flows from investing activities    
Capital expenditures (26,212) (75,387)
Proceeds from sale of businesses 2,236 3,053
Acquisitions, net of cash acquired (721,350) (40,644)
Net cash used in investing activities (745,326) (112,978)
Cash flows from financing activities    
Borrowings of long-term debt 400,000 0
Repayments of long-term debt (12,125) (12,707)
Borrowings under revolving credit facility 388,900 50,000
Repayments under revolving credit facility (32,900) (7,000)
Dividends paid (4,471) (4,173)
Debt issuance costs (9,234) 0
Finance lease liabilities (304)  
Purchases of treasury stock (3,865) (4,628)
Net cash provided by financing activities 726,001 21,492
Effect of exchange rate changes on cash and cash equivalents (2,287) 251
Increase (decrease) in cash and cash equivalents 71,231 (42,749)
Cash and cash equivalents at beginning of period 44,535 94,097
Cash and cash equivalents at end of period $ 115,766 $ 51,348