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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
May 31, 2020
May 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 25,149 $ 22,637
Adjustments to reconcile net income to net cash provided by operating activities    
Gain on sale of real estate (760)  
Loss on impairment of goodwill (Note 7)   2,410
Depreciation 2,989 3,634
Amortization 8,724 9,339
(Recovery) provision for allowance for doubtful accounts (307) 166
Stock-based compensation 2,373 1,632
Realized (loss) gain on restricted investments (32) (2)
Pension curtailment and settlement loss 75 484
Deferred taxes (15) (581)
Increase (decrease) from changes in assets and liabilities    
Accounts receivable 3,656 3,164
Inventory 1,835 (6,135)
Prepaid expenses and other assets (154) (504)
Accounts payable (183) (4,574)
Accrued compensation and other expenses (1,263) (1,912)
Accrued income taxes 578 517
Net cash provided by operating activities 42,665 30,275
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (1,044) (1,841)
Cost to acquire intangible assets   (36)
Proceeds from sale of real estate 1,810  
Proceeds from sale of businesses   400
Changes in restricted investments (115) (86)
Net cash provided by (used in) investing activities 651 (1,563)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments of principal on debt   (25,000)
Dividend paid (7,539) (7,522)
Proceeds from exercise of common stock options   182
Payments of taxes on stock options and restricted stock (484)  
Net cash used in financing activities (8,023) (32,340)
INCREASE IN CASH & CASH EQUIVALENTS 35,293 (3,628)
Effect of foreign exchange rates on cash 195 (562)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 47,771 34,828
CASH AND CASH EQUIVALENTS, END OF PERIOD 83,259 30,638
Non-cash Investing and Financing Activities    
Common stock received for payment of stock option exercises 123 120
Property, plant and equipment additions included in accounts payable $ 236 $ 213