XML 64 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Aug. 31, 2014
Aug. 31, 2013
Cash flows from operating activities:    
Net income $ 4,771 $ 5,697
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,168 14,691
Remeasurement (gain)/loss on foreign currency (41) 110
Provision for losses on accounts receivable 107 57
Gain on sale of rental and lease equipment (3,082) (2,893)
Stock compensation expense 288 344
Excess tax benefit for share based compensation (82) (96)
Deferred income taxes (1,235) (1,435)
Change in operating assets and liabilities:    
Accounts receivable (89) (1,765)
Other assets (2,433) (1,627)
Accounts payable 632 (183)
Accrued expenses (508) 1,156
Deferred revenue (64) (72)
Net cash provided by operating activities 12,432 13,984
Cash flows from investing activities:    
Proceeds from sale of rental and lease equipment 8,284 8,017
Payments for purchase of rental and lease equipment (17,823) (16,666)
Payments for purchase of other property (61) (151)
Net cash used in investing activities (9,600) (8,800)
Cash flows from financing activities:    
Borrowings under bank lines of credit 8,581 9,000
Payments under bank lines of credit (8,581) (14,000)
Minimum tax withholdings on share based compensation (10) 0
Excess tax benefit for share based compensation 82 96
Payment of dividends (5,015) (5,036)
Net cash used in financing activities (4,943) (9,940)
Effect of exchange rate changes on cash 139 (157)
Net decrease in cash (1,972) (4,913)
Cash at beginning of period 5,946 10,402
Cash at end of period 3,974 5,489
Supplemental Cash Flow Information [Abstract]    
Interest paid, during the period 4 37
Net income taxes paid, during the period 369 2,891
Dividends accrued during the period, not yet paid 87 4,986
Rental equipment acquisitions, not yet paid 4,304 3,332
Used equipment sales in accounts receivable and other assets, not yet collected 7,811 9,453
Transfers of demonstration equipment to rental and lease equipment $ 413 $ 1,388