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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2015
Cash flows from operating activities:      
Net income $ 374,254 $ 256,519 $ 199,385
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 34,333 24,613 15,366
Amortization of intangibles 63,925 27,962 16,015
Amortization of debt issuance costs 1,570 131  
Impairment charges   9,113  
Deferred income tax benefit (39,552) (14,116) (7,292)
Gain on disposition of property, plant & equipment (2,231) (35) (91)
Stock-based compensation 12,500 9,387 6,776
Excess tax benefits from stock-based awards   (320) (135)
Changes in assets and liabilities (excluding acquisitions):      
Accounts receivable (92,305) (15,773) 41,324
Inventories (56,619) (15,582) 14,750
Prepaid expenses and other assets (13,888) 719 (3,000)
Accounts payable 67,138 28,625 (26,632)
Accrued liabilities 63,075 26,016 (30)
Long-term liabilities and other 7,133 3,950 (8,576)
Net cash provided by operating activities 419,333 341,209 247,860
Cash flows from investing activities:      
Purchases of property, plant & equipment (115,027) (51,976) (42,283)
Proceeds from dispositions of property, plant & equipment 4,682 347 381
Proceeds from notes receivable   8,367 1,400
Acquisitions, net of cash acquired (5,039) (557,651) (194,486)
Other (1,271) (560) 20
Net cash used in investing activities (116,655) (601,473) (234,968)
Cash flows from financing activities:      
Borrowings on revolving credit facility   360,000  
Principal payments on revolving credit facility (215,000)    
Payments of debt issuance costs   (7,850)  
Cash dividends paid (69,409) (62,970) (57,381)
Purchase of treasury stock     (60,000)
Payments related to vesting of stock-based awards (4,572) (2,484) (1,562)
Excess tax benefits from stock-based awards   320 135
Proceeds from issuance of common stock     141
Principal payments on capital lease obligations (341) (328) (83)
Net cash provided by (used in) financing activities (289,322) 286,688 (118,750)
Net increase (decrease) in cash and cash equivalents 13,356 26,424 (105,858)
Cash and cash equivalents, beginning of year 209,902 183,478 289,336
Cash and cash equivalents, end of year 223,258 209,902 183,478
Supplemental cash flow information:      
Income taxes paid 198,619 128,409 115,124
Interest paid 8,558 672 180
Non-cash transactions:      
Capital expenditures in accounts payable $ 6,266 $ 3,538 $ 1,540