XML 22 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Apr. 30, 2017
OPERATING ACTIVITIES      
Net income $ 83,688,000 $ 63,141,000 $ 71,199,000
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:      
Depreciation and amortization 94,446,000 45,004,000 18,682,000
Net loss on disposal of property, plant and equipment 1,973,000 615,000 444,000
Amortization of debt issuance costs 2,724,000 0 0
Gain on sales of assets held for sale 0 257,000 0
Gain on insurance recoveries (580,000) 0 0
Stock-based compensation expense 3,040,000 3,097,000 3,469,000
Deferred income taxes (7,805,000) 21,404,000 9,899,000
Pension contributions in excess of expense (7,875,000) (20,928,000) (27,840,000)
Excess tax benefit from stock-based compensation (5,266,000) 0 0
Contributions of employer stock to employee benefit plan 3,623,000 3,554,000 2,926,000
Other non-cash items 916,000 14,000 318,000
Changes in operating assets and liabilities:      
Customer receivables 9,719,000 (18,786,000) (7,780,000)
Inventories (4,852,000) 2,802,000 (4,925,000)
Income taxes receivable 26,357,000 (7,295,000) 0
Prepaid expenses and other assets (5,172,000) (7,492,000) (207,000)
Accounts payable (4,775,000) (858,000) 6,301,000
Accrued compensation and related expenses 6,225,000 (2,525,000) 773,000
Marketing and other accrued expenses (5,541,000) 4,771,000 3,821,000
Net Cash Provided by Operating Activities 190,845,000 86,775,000 77,080,000
INVESTING ACTIVITIES      
Payments to acquire property, plant, and equipment (32,128,000) (47,590,000) (21,811,000)
Proceeds from sales of property, plant, and equipment 64,000 27,000 37,000
Proceeds From Insurance Recoveries 580,000 0 0
Acquisition of business, net of cash acquired (7,182,000) (57,200,000) 0
Purchases of certificates of deposit 0 (25,000,000) (85,000,000)
Maturities of certificates of deposit 8,000,000 87,750,000 56,750,000
Investment in promotional displays (7,257,000) (2,303,000) (3,720,000)
Net Cash Used by Investing Activities (37,923,000) (44,316,000) (53,744,000)
FINANCING ACTIVITIES      
Payments of long-term debt (122,205,000) (96,572,000) (11,731,000)
Proceeds from long-term debt 0 734,000 3,477,000
Proceeds from issuance of common stock and other 500,000 1,289,000 2,366,000
Repurchase of common stock (50,000,000) (29,000,000) (13,407,000)
Withholding of employee taxes related to stock-based compensation (1,739,000) (2,803,000) (1,734,000)
Debt issuance cost (232,000) (14,675,000) 0
Notes receivable, net 0 0 208,000
Net Cash Provided (Used) by Financing Activities (173,676,000) (141,027,000) (20,821,000)
Net Increase in Cash And Cash Equivalents (20,754,000) (98,568,000) 2,515,000
Cash And Cash Equivalents, Beginning of Year 78,410,000 176,978,000 174,463,000
Cash And Cash Equivalents, End of Year 57,656,000 78,410,000 176,978,000
Non-cash investing and financing activities:      
Long-term debt related to funding acquisition 0 300,000 0
Long-term debt issued to satisfy outstanding debt 0 600,000 0
Long-term debt satisfied from issuance of debt 0 (602,750) 0
Stock issuance in connection with acquisition 0 189,849 0
Property, plant and equipment 1,331 5,530 0
Net other assets and liabilities related to acquisition 0 7,169 0
Cash paid during the period for:      
Interest 35,908 5,919 596
Income taxes $ 22,035 $ 18,219 $ 27,302