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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Jul. 31, 2018
Operating Activities      
Net earnings $ 257.0 $ 267.2 $ 180.3
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 87.6 81.1 76.7
Equity in earnings of affiliates, net of distributions (2.7) (1.2) (2.7)
Deferred income taxes 2.7 10.2 7.0
Stock-based compensation plan expense 15.2 15.0 16.7
Other, net 23.9 (7.6) (27.6)
Changes in operating assets and liabilities, excluding effect of acquired businesses:      
Accounts receivable 77.1 1.4 (41.7)
Inventories 11.9 (5.5) (43.8)
Prepaid expenses and other current assets 1.4 (9.7) 3.6
Income taxes payable (13.1) (2.0) 87.9
Trade accounts payable and other accrued expenses (74.0) (3.1) 6.5
Net cash provided by operating activities 387.0 345.8 262.9
Investing Activities      
Purchases of property, plant and equipment (124.4) (150.7) (97.5)
Proceeds from sale of property, plant and equipment 2.0 0.3 1.6
Acquisitions, net of cash acquired (6.5) (96.0) 0.5
Net cash used in investing activities (128.9) (246.4) (95.4)
Financing Activities      
Proceeds from long-term debt 262.4 155.0 197.7
Repayments of long-term debt (281.0) (45.9) (272.4)
Change in short-term borrowings 0.9   6.0
Change in short-term borrowings   (25.3)  
Purchase of treasury stock (94.3) (129.2) (122.0)
Dividends paid (106.4) (99.7) (94.7)
Tax withholding for stock compensation transactions (6.3) (4.1) (2.6)
Exercise of stock options 25.2 25.9 19.2
Net cash used in financing activities (199.5) (123.3) (268.8)
Effect of exchange rate changes on cash 0.2 (3.0) (2.4)
Increase (decrease) in cash and cash equivalents 58.8 (26.9) (103.7)
Cash and cash equivalents, beginning of fiscal year 177.8 204.7 308.4
Cash and cash equivalents, end of fiscal year 236.6 177.8 204.7
Supplemental Cash Flow Information      
Income taxes 90.7 99.3 82.6
Interest 17.1 19.1 21.9
Supplemental Disclosure of Non-Cash Investing Transactions      
Accrued property, plant and equipment additions $ 9.5 $ 16.5 $ 9.0