XML 51 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
May 31, 2014
May 31, 2013
Cash flows from operating activities:    
Net income $ 1,398 $ 8,855
Adjustments to reconcile net income to cash provided by operating activities:    
Other asset impairment charges 1,460 0
Exit-related asset impairment charges 566 0
Depreciation and amortization 60,114 62,351
Deferred income taxes 1,447 3,530
Undistributed equity in earnings of joint ventures (924) (754)
Share-based compensation expense 10,257 9,752
Excess tax benefit from share-based payment arrangements (54) (198)
(Gain) loss on disposal of assets (916) 404
Unrealized foreign exchange loss, net 409 903
Bad debt expense (recoveries), net 399 (346)
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (16,849) (42,690)
Inventories 18,107 (19,751)
Income taxes (6,678) 1,179
Prepaid expenses and other current assets (2,418) (13,542)
Intangibles and other long-term assets 590 637
Accounts payable 2,245 (10,288)
Accrued payroll and related liabilities (47) 1,858
Other accrued liabilities 2,609 (1,026)
Environmental liabilities (332) (490)
Other long-term liabilities (22) (268)
Distributed equity in earnings of joint ventures 1,240 1,460
Net cash provided by operating activities 72,601 1,576
Cash flows from investing activities:    
Capital expenditures (29,100) (66,681)
Joint venture payments, net (3,711) (1,819)
Proceeds from sale of assets 1,822 822
Acquisitions, net of cash acquired (2,160) (22,677)
Net cash used in investing activities (33,149) (90,355)
Cash flows from financing activities:    
Proceeds from line of credit 327,000 432,000
Repayment of line of credit (335,500) (432,000)
Borrowings from long-term debt 259,323 234,484
Repayment of long-term debt (257,535) (159,028)
Taxes paid related to net share settlement of share-based payment arrangements (676) (1,273)
Excess tax benefit from share-based payment arrangements 54 198
Stock options exercised 240 300
Contributions from noncontrolling interest 0 1,970
Distributions to noncontrolling interest (1,794) (1,743)
Purchase of noncontrolling interest 0 (24,734)
Dividends paid (14,976) (14,885)
Net cash (used in) provided by financing activities (23,864) 35,289
Effect of exchange rate changes on cash 293 705
Net increase (decrease) in cash and cash equivalents 15,881 (52,785)
Cash and cash equivalents as of beginning of period 13,481 89,863
Cash and cash equivalents as of end of period $ 29,362 $ 37,078