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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Jul. 31, 2020
Cash flows from operating activities      
Net income $ 24,464 $ 5,767  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 8,409 6,338  
Amortization 8,918 6,029  
Stock-based compensation expense 3,422 2,404  
Deferred income taxes 441 1,454  
Amortization of right-of-use assets 2,982 2,310  
Non-cash interest expense 4,445 925  
Inventory step-up amortization 0 4,772  
Other non-cash items, net 8 (1,061)  
Changes in assets and liabilities, net of effects of acquisitions/dispositions:      
Accounts receivable (10,302) (348)  
Inventories 4,214 (6,254)  
Prepaid expenses and other assets (1,206) 1,147  
Accounts payable and other liabilities 10,221 (13,664)  
Income taxes 9,284 1,450  
Operating lease payments (3,293) (2,338)  
Net cash provided by operating activities 62,007 8,931  
Cash flows from investing activities      
Capital expenditures (5,495) (10,390)  
Proceeds from sale of businesses, net of cash retained 348 0  
Acquisition of businesses, net of cash acquired 0 (658,932)  
Net cash used in investing activities (5,147) (669,322)  
Cash flows from financing activities      
Proceeds from issuance of long term debt 0 400,000  
Repayments of long-term debt 0 (2,375)  
Borrowings under revolving credit facility 0 291,400  
Repayments under revolving credit facility (75,000) (10,900)  
Dividends paid 0 (9,234)  
Contingent consideration payments (103) (127)  
Purchases of treasury stock (1,454) (3,613)  
Net cash (used in) provided by financing activities (76,557) 665,151  
Effect of exchange rate changes on cash and cash equivalents (153) (10)  
(Decrease) increase in cash and cash equivalents (19,850) 4,750  
Cash and cash equivalents at beginning of period 277,871 44,535 $ 44,535
Cash and cash equivalents at end of period $ 258,021 $ 49,285 $ 277,871