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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2017
Oct. 31, 2016
Operating activities:    
Net earnings $ 25,836 $ 22,553
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,564 7,234
Non-cash portion of stock-based compensation expense 3,744 3,155
Deferred income taxes (1,168) 2,027
Changes in operating assets and liabilities (net of effects of business acquisitions/divestitures):    
Accounts receivable (4,807) (680)
Inventories (3,571) 1,197
Prepaid expenses and other assets (2,005) (1,170)
Accounts payable and accrued liabilities 7,799 2,546
Income taxes 2,327 (2,869)
Net cash provided by operating activities 34,719 33,993
Investing activities:    
Purchases of property, plant and equipment (3,802) (3,959)
Other 974 1,511
Net cash used in investing activities (2,828) (2,448)
Financing activities:    
Payment of dividends (10,639) (10,370)
Proceeds from exercise of stock options 3,249 8,813
Proceeds from borrowing on credit facilities 10,901 27,565
Debt issuance costs (22,894) (27,139)
Income tax on equity-based compensation, and other (2,280) (1,232)
Net cash used in financing activities (21,663) (2,363)
Effect of exchange rate changes on cash (1,935) (4,109)
Net increase in cash and cash equivalents 8,293 25,073
Cash and cash equivalents, beginning of period 133,944 141,228
Cash and cash equivalents, end of period $ 142,237 $ 166,301