XML 17 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2017
Oct. 31, 2016
Cash flows from operating activities:    
Net income $ 128,406 $ 78,745
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 9,140 8,380
Amortization of intangibles 13,558 18,215
Amortization of debt issuance costs 393 393
Deferred income tax benefit (5,356) (2,297)
Gain on disposition of property, plant and equipment (1,470) (2,188)
Stock-based compensation expense 4,318 2,738
Changes in assets and liabilities (excluding acquisitions):    
Accounts receivable (152,921) (86,419)
Inventories (56,840) (13,258)
Prepaid expenses and other (2,409) (2,648)
Accounts payable 33,471 (1,254)
Accrued liabilities 39,892 (1,966)
Long-term liabilities and other 3,233 2,822
Net cash provided by operating activities 13,415 1,263
Cash flows from investing activities:    
Purchases of property, plant and equipment (34,283) (26,164)
Proceeds from dispositions of property, plant and equipment 3,526 4,329
Acquisitions   (5,039)
Other 641 (2,500)
Net cash used in investing activities (30,116) (29,374)
Cash flows from financing activities:    
Principal payments on revolving credit facility (55,000) (20,000)
Principal payments on capital lease obligations (94) (81)
Net cash used in financing activities (55,094) (20,081)
Net decrease in cash and cash equivalents (71,795) (48,192)
Cash and cash equivalents, beginning of period 223,258 209,902
Cash and cash equivalents, end of period 151,463 161,710
Supplemental cash flow information:    
Income taxes paid 73,720 54,224
Interest paid 1,161 2,407
Non-cash transactions:    
Capital expenditures in accounts payable 4,075 3,867
Regular quarterly dividend payable $ 19,497 $ 17,352