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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2020
Aug. 31, 2019
Aug. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 34,157 $ 32,711 $ 43,143
Adjustments to reconcile net income to net cash provided by operating activities      
Gain on sale of real estate (2,551)    
Gain on sale of license     (1,085)
Loss on impairment of goodwill   2,410  
Write-down of certain assets under construction 405    
Gain on sale of businesses     (1,480)
Depreciation 4,015 4,762 5,817
Amortization 11,576 12,445 11,807
Cost of sale of inventory step-up     1,070
(Recovery) provision for allowance for doubtful accounts (307) 183 101
Stock-based compensation 3,208 2,176 2,128
Realized gain on restricted investments (37) (11) (97)
Pension curtailment and settlement loss 155 511  
Deferred taxes (769) (2,312) (2,473)
Increase (decrease) from changes in assets and liabilities      
Accounts receivable 3,092 4,858 (2,968)
Inventory 3,562 (2,864) (8,845)
Prepaid expenses and other assets 43 356 569
Accounts payable 260 (5,493) 2,847
Accrued compensation and other expenses (1,865) (1,536) (501)
Accrued income taxes 790 1,339 (3,962)
Net cash provided by operating activities 55,734 49,535 46,071
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (1,371) (2,488) (3,488)
Cost to acquire intangible assets   (36) (18)
Payments for acquisitions     (73,469)
Proceeds from sale of real estate 3,615    
Proceeds from sale of license     1,000
Proceeds from sale of businesses   400 2,232
Changes in restricted investments (167) (122) (23)
Proceeds from settlement of life insurance policies   80  
Net cash provided by (used in) investing activities 2,077 (2,166) (73,766)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings on debt     65,000
Payments of principal on debt   (25,000) (40,000)
Dividend paid (7,539) (7,522) (7,497)
Proceeds from exercise of common stock options   182 192
Payments of taxes on stock options and restricted stock (881) (1,110) (3,272)
Net cash (used in) provided by financing activities (8,420) (33,450) 14,423
INCREASE IN CASH & CASH EQUIVALENTS 49,391 13,919 (13,272)
Effect of foreign exchange rates on cash 1,906 (976) 746
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 47,771 34,828 47,354
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 99,068 $ 47,771 $ 34,828