XML 25 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2017
Aug. 31, 2016
Aug. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 42,014 $ 32,807 $ 26,413
Adjustments to reconcile net income to net cash provided by operating activities      
Gain on sale of real estate (860)    
Loss on write-down of certain assets under construction   365  
Gain on sale of businesses (2,013) (1,031)  
Depreciation 5,130 5,606 5,810
Amortization 9,127 7,836 6,762
Cost of sale of inventory step-up 190   65
Provision for (recovery of) allowance for doubtful accounts (359) 169 57
Stock-based compensation 2,212 1,333 1,120
Realized gain on restricted investments (127) (67) (86)
Decrease in cash surrender value of life insurance   103 326
Pension curtailment and settlement loss 14 13 188
Excess tax expense from stock-based compensation   (1,784) (1,088)
Deferred taxes (2,263) (2,590) (1,222)
Increase (decrease) from changes in assets and liabilities      
Accounts receivable (1,003) 3,312 (4,534)
Inventory 116 3,124 2,284
Prepaid expenses and other assets (878) (475) 388
Accounts payable 1,420 (2,821) 687
Accrued compensation and other expenses (825) 1,490 (87)
Accrued income taxes 37 1,443 3,876
Net cash provided by operating activities 51,932 48,833 40,959
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (3,199) (2,046) (2,642)
(Cost to acquire) retirements of intangible assets (71) (64) (34)
Payments for acquisitions (30,270) (1,161) (33,285)
Proceeds from sale of real estate 2,122    
Net proceeds from sale of businesses 3,915 1,729 739
Decrease (increase) in restricted investments 897 (149) (308)
Proceeds from settlement of life insurance policies 1,504 1,238  
Payments for cash surrender value life insurance   (159) (183)
Net cash (used in) provided by investing activities (25,102) (612) (35,713)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings on debt     2,000
Payments of principal on debt (43,400) (8,400) (9,000)
Dividend paid (6,532) (5,999) (5,477)
Proceeds from exercise of common stock options 95 124 391
Payments of taxes on stock options and restricted stock (2,959) (2,808) (2,000)
Excess tax benefit from stock-based compensation   1,784 1,088
Payment for acquisition of noncontrolling interest     (500)
Net cash used in financing activities (52,796) (15,299) (13,498)
INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS (25,966) 32,922 (8,252)
Effect of foreign exchange rates on cash (91) (3,330) (1,151)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 73,411 43,819 53,222
CASH AND CASH EQUIVALENTS, END OF PERIOD 47,354 73,411 43,819
Non-cash Investing and Financing Activities      
Common stock received for payment of stock option exercises 1,158 2,015 2,180
Property, plant & equipment additions included in accounts payable $ 220 $ 22 $ 53