XML 22 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2021
Jul. 31, 2020
Jul. 31, 2019
Cash flows from operating activities:      
Net income $ 660,870 $ 221,384 $ 132,465
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 113,398 98,933 73,139
Amortization of intangibles 117,183 97,234 75,638
Amortization of debt issuance costs 15,407 10,743 6,189
Impairment charges 0 10,057 0
Foreign currency forward contract loss 0 0 70,777
Deferred income tax benefit (9,026) (11,212) (9,059)
Loss on disposition of property, plant and equipment 1,136 3,990 739
Stock-based compensation expense 30,514 19,889 18,950
Changes in assets and liabilities:      
Accounts receivable (234,693) (115,232) 136,145
Inventories (538,756) 133,290 283,311
Prepaid income taxes, expenses and other (32,717) 18,427 (13,114)
Accounts payable 229,173 60,469 (120,507)
Guarantee liabilities related to former EHG subsidiaries 0 0 (108,843)
Accrued liabilities and other 123,078 (14,059) (46,612)
Long-term liabilities and other 50,915 7,028 8,801
Net cash provided by operating activities 526,482 540,941 508,019
Cash flows from investing activities:      
Purchases of property, plant and equipment (128,835) (106,697) (130,224)
Proceeds from dispositions of property, plant and equipment 1,950 27,677 2,732
Business acquisitions, net of cash acquired (310,938) 0 (1,658,577)
Foreign currency forward contract payment related to business acquisition 0 0 (70,777)
Equity investment in joint venture 0 0 (6,500)
Other 9,330 (5,229) (2,157)
Net cash used in investing activities (428,493) (84,249) (1,865,503)
Cash flows from financing activities:      
Borrowings on term-loan credit facilities 0 0 2,095,018
Borrowings on revolving asset-based credit facilities 225,676 379,222 100,000
Payments on term-loan credit facilities (59,700) (274,963) (242,919)
Payments on revolving credit facilities (224,836) (379,986) (100,000)
Payments on unsecured notes 0 0 (84,728)
Payments on other debt (13,950) (14,493) (70,319)
Payments of debt issuance costs 0 0 (70,176)
Cash dividends paid (90,801) (88,318) (84,139)
Payments on finance lease obligations (749) (442) (405)
Payments related to vesting of stock-based awards (8,317) (3,763) (4,418)
Other (15,761) (10,173) 1,159
Net cash provided by (used in) financing activities (188,438) (392,916) 1,539,073
Effect of exchange rate changes on cash and cash equivalents and restricted cash (2,208) 26,325 (5,576)
Net increase (decrease) in cash and cash equivalents and restricted cash (92,657) 90,101 176,013
Cash and cash equivalents and restricted cash, beginning of period 541,363 451,262 275,249
Cash and cash equivalents and restricted cash, end of period 448,706 541,363 451,262
Less: restricted cash 2,854 2,844 25,647
Cash and cash equivalents, end of period 445,852 538,519 425,615
Supplemental cash flow information:      
Income taxes paid 226,527 56,803 87,813
Interest paid 78,865 101,784 57,189
Non-cash investing and financing transactions:      
Capital expenditures in accounts payable 6,304 3,458 4,332
Common stock issued for business acquisition $ 0 $ 0 $ 144,168