Guarantor Subsidiaries (Tables)
|
9 Months Ended |
May 31, 2013
|
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
Condensed Consolidating Statements of Earnings and Comprehensive Income |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
52,126 |
|
|
$ |
83,279 |
|
|
$ |
208,800 |
|
|
$ |
— |
|
|
$ |
344,205 |
|
Cost of products sold |
|
14,938 |
|
|
55,610 |
|
|
136,753 |
|
|
— |
|
|
207,301 |
|
Gross profit |
|
37,188 |
|
|
27,669 |
|
|
72,047 |
|
|
— |
|
|
136,904 |
|
Selling, administrative and engineering expenses |
|
18,389 |
|
|
14,622 |
|
|
41,312 |
|
|
— |
|
|
74,323 |
|
Amortization of intangible assets |
|
318 |
|
|
2,592 |
|
|
2,629 |
|
|
— |
|
|
5,539 |
|
Operating profit |
|
18,481 |
|
|
10,455 |
|
|
28,106 |
|
|
— |
|
|
57,042 |
|
Financing costs, net |
|
6,279 |
|
|
3 |
|
|
(53 |
) |
|
— |
|
|
6,229 |
|
Intercompany expense (income), net |
|
(6,487 |
) |
|
637 |
|
|
5,850 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
267 |
|
|
(115 |
) |
|
759 |
|
|
— |
|
|
911 |
|
Earnings from continuing operations before income tax expense |
|
18,422 |
|
|
9,930 |
|
|
21,550 |
|
|
— |
|
|
49,902 |
|
Income tax expense |
|
1,412 |
|
|
761 |
|
|
1,652 |
|
|
— |
|
|
3,825 |
|
Net earnings before equity in loss of subsidiaries |
|
17,010 |
|
|
9,169 |
|
|
19,898 |
|
|
— |
|
|
46,077 |
|
Equity in loss of subsidiaries |
|
(109,558 |
) |
|
(38,891 |
) |
|
(1,827 |
) |
|
150,276 |
|
|
— |
|
Earnings (loss) from continuing operations |
|
(92,548 |
) |
|
(29,722 |
) |
|
18,071 |
|
|
150,276 |
|
|
46,077 |
|
Loss from discontinued operations |
|
(435 |
) |
|
(94,888 |
) |
|
(43,737 |
) |
|
— |
|
|
(139,060 |
) |
Net loss |
|
$ |
(92,983 |
) |
|
$ |
(124,610 |
) |
|
$ |
(25,666 |
) |
|
$ |
150,276 |
|
|
$ |
(92,983 |
) |
Comprehensive loss |
|
$ |
(97,951 |
) |
|
$ |
(124,714 |
) |
|
$ |
(30,396 |
) |
|
$ |
155,110 |
|
|
$ |
(97,951 |
) |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
53,206 |
|
|
$ |
89,914 |
|
|
$ |
200,148 |
|
|
$ |
— |
|
|
$ |
343,268 |
|
Cost of products sold |
|
17,111 |
|
|
58,686 |
|
|
128,717 |
|
|
— |
|
|
204,514 |
|
Gross profit |
|
36,095 |
|
|
31,228 |
|
|
71,431 |
|
|
— |
|
|
138,754 |
|
Selling, administrative and engineering expenses |
|
20,968 |
|
|
15,749 |
|
|
37,624 |
|
|
— |
|
|
74,341 |
|
Amortization of intangible assets |
|
335 |
|
|
2,620 |
|
|
2,608 |
|
|
— |
|
|
5,563 |
|
Operating profit |
|
14,792 |
|
|
12,859 |
|
|
31,199 |
|
|
— |
|
|
58,850 |
|
Financing costs, net |
|
7,255 |
|
|
(22 |
) |
|
3 |
|
|
— |
|
|
7,236 |
|
Intercompany expense (income), net |
|
(8,412 |
) |
|
1,432 |
|
|
6,980 |
|
|
— |
|
|
— |
|
Debt refinancing costs |
|
16,830 |
|
|
— |
|
|
— |
|
|
— |
|
|
16,830 |
|
Other expense (income), net |
|
(111 |
) |
|
944 |
|
|
1,758 |
|
|
— |
|
|
2,591 |
|
Earnings (loss) from continuing operations before income tax expense (benefit) |
|
(770 |
) |
|
10,505 |
|
|
22,458 |
|
|
— |
|
|
32,193 |
|
Income tax expense (benefit) |
|
(2,742 |
) |
|
2,233 |
|
|
4,965 |
|
|
— |
|
|
4,456 |
|
Net earnings before equity in earnings (loss) of subsidiaries |
|
1,972 |
|
|
8,272 |
|
|
17,493 |
|
|
— |
|
|
27,737 |
|
Equity in earnings (loss) of subsidiaries |
|
32,915 |
|
|
16,521 |
|
|
(450 |
) |
|
(48,986 |
) |
|
— |
|
Earnings from continuing operations |
|
34,887 |
|
|
24,793 |
|
|
17,043 |
|
|
(48,986 |
) |
|
27,737 |
|
Earnings (loss) from discontinued operations |
|
(486 |
) |
|
4,618 |
|
|
2,532 |
|
|
— |
|
|
6,664 |
|
Net earnings |
|
$ |
34,401 |
|
|
$ |
29,411 |
|
|
$ |
19,575 |
|
|
$ |
(48,986 |
) |
|
$ |
34,401 |
|
Comprehensive income |
|
$ |
893 |
|
|
$ |
12,418 |
|
|
$ |
1,779 |
|
|
$ |
(14,197 |
) |
|
$ |
893 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
145,371 |
|
|
$ |
220,178 |
|
|
$ |
586,933 |
|
|
$ |
— |
|
|
$ |
952,482 |
|
Cost of products sold |
|
42,285 |
|
|
151,308 |
|
|
381,439 |
|
|
— |
|
|
575,032 |
|
Gross profit |
|
103,086 |
|
|
68,870 |
|
|
205,494 |
|
|
— |
|
|
377,450 |
|
Selling, administrative and engineering expenses |
|
53,347 |
|
|
44,348 |
|
|
124,826 |
|
|
— |
|
|
222,521 |
|
Amortization of intangible assets |
|
958 |
|
|
7,906 |
|
|
8,678 |
|
|
— |
|
|
17,542 |
|
Operating profit |
|
48,781 |
|
|
16,616 |
|
|
71,990 |
|
|
— |
|
|
137,387 |
|
Financing costs, net |
|
19,046 |
|
|
9 |
|
|
(244 |
) |
|
— |
|
|
18,811 |
|
Intercompany expense (income), net |
|
(18,408 |
) |
|
1,716 |
|
|
16,692 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
(480 |
) |
|
(579 |
) |
|
2,577 |
|
|
— |
|
|
1,518 |
|
Earnings from continuing operations before income tax expense |
|
48,623 |
|
|
15,470 |
|
|
52,965 |
|
|
— |
|
|
117,058 |
|
Income tax expense |
|
7,420 |
|
|
435 |
|
|
6,741 |
|
|
— |
|
|
14,596 |
|
Net earnings before equity in loss of subsidiaries |
|
41,203 |
|
|
15,035 |
|
|
46,224 |
|
|
— |
|
|
102,462 |
|
Equity in loss of subsidiaries |
|
(68,323 |
) |
|
(10,227 |
) |
|
(1,392 |
) |
|
79,942 |
|
|
— |
|
Earnings (loss) from continuing operations |
|
(27,120 |
) |
|
4,808 |
|
|
44,832 |
|
|
79,942 |
|
|
102,462 |
|
Loss from discontinued operations |
|
(1,085 |
) |
|
(89,510 |
) |
|
(40,072 |
) |
|
— |
|
|
(130,667 |
) |
Net earnings (loss) |
|
$ |
(28,205 |
) |
|
$ |
(84,702 |
) |
|
$ |
4,760 |
|
|
$ |
79,942 |
|
|
$ |
(28,205 |
) |
Comprehensive income (loss) |
|
$ |
(32,969 |
) |
|
$ |
(91,016 |
) |
|
$ |
7,632 |
|
|
$ |
83,384 |
|
|
$ |
(32,969 |
) |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
151,240 |
|
|
$ |
248,836 |
|
|
$ |
554,077 |
|
|
$ |
— |
|
|
$ |
954,153 |
|
Cost of products sold |
|
49,502 |
|
|
166,150 |
|
|
356,649 |
|
|
— |
|
|
572,301 |
|
Gross profit |
|
101,738 |
|
|
82,686 |
|
|
197,428 |
|
|
— |
|
|
381,852 |
|
Selling, administrative and engineering expenses |
|
59,555 |
|
|
45,942 |
|
|
105,309 |
|
|
— |
|
|
210,806 |
|
Amortization of intangible assets |
|
1,005 |
|
|
7,870 |
|
|
7,362 |
|
|
— |
|
|
16,237 |
|
Operating profit |
|
41,178 |
|
|
28,874 |
|
|
84,757 |
|
|
— |
|
|
154,809 |
|
Financing costs, net |
|
23,527 |
|
|
(14 |
) |
|
(233 |
) |
|
— |
|
|
23,280 |
|
Intercompany expense (income), net |
|
(24,585 |
) |
|
3,731 |
|
|
20,854 |
|
|
— |
|
|
— |
|
Debt refinancing costs |
|
16,830 |
|
|
— |
|
|
— |
|
|
— |
|
|
16,830 |
|
Other expense (income), net |
|
904 |
|
|
2,633 |
|
|
(240 |
) |
|
— |
|
|
3,297 |
|
Earnings from continuing operations before income tax expense |
|
24,502 |
|
|
22,524 |
|
|
64,376 |
|
|
— |
|
|
111,402 |
|
Income tax expense |
|
3,193 |
|
|
4,587 |
|
|
14,262 |
|
|
— |
|
|
22,042 |
|
Net earnings before equity in earnings of subsidiaries |
|
21,309 |
|
|
17,937 |
|
|
50,114 |
|
|
— |
|
|
89,360 |
|
Equity in earnings of subsidiaries |
|
84,173 |
|
|
51,134 |
|
|
988 |
|
|
(136,295 |
) |
|
— |
|
Earnings from continuing operations |
|
105,482 |
|
|
69,071 |
|
|
51,102 |
|
|
(136,295 |
) |
|
89,360 |
|
Earnings (loss) from discontinued operations |
|
(1,732 |
) |
|
8,714 |
|
|
7,408 |
|
|
— |
|
|
14,390 |
|
Net earnings |
|
$ |
103,750 |
|
|
$ |
77,785 |
|
|
$ |
58,510 |
|
|
$ |
(136,295 |
) |
|
$ |
103,750 |
|
Comprehensive income |
|
$ |
41,618 |
|
|
$ |
45,346 |
|
|
$ |
35,141 |
|
|
$ |
(80,487 |
) |
|
$ |
41,618 |
|
|
Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 31, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
26,338 |
|
|
$ |
— |
|
|
$ |
135,080 |
|
|
$ |
— |
|
|
$ |
161,418 |
|
Accounts receivable, net |
|
19,860 |
|
|
47,019 |
|
|
147,804 |
|
|
— |
|
|
214,683 |
|
Inventories, net |
|
27,963 |
|
|
34,683 |
|
|
82,580 |
|
|
— |
|
|
145,226 |
|
Deferred income taxes |
|
20,504 |
|
|
— |
|
|
1,999 |
|
|
— |
|
|
22,503 |
|
Other current assets |
|
7,681 |
|
|
901 |
|
|
17,814 |
|
|
— |
|
|
26,396 |
|
Current assets of discontinued operations |
|
— |
|
|
183,619 |
|
|
80,439 |
|
|
— |
|
|
264,058 |
|
Total current assets |
|
102,346 |
|
|
266,222 |
|
|
465,716 |
|
|
— |
|
|
834,284 |
|
Property, plant & equipment, net |
|
6,958 |
|
|
23,811 |
|
|
73,834 |
|
|
— |
|
|
104,603 |
|
Goodwill |
|
62,543 |
|
|
264,502 |
|
|
320,105 |
|
|
— |
|
|
647,150 |
|
Other intangibles, net |
|
13,565 |
|
|
143,833 |
|
|
159,588 |
|
|
— |
|
|
316,986 |
|
Investment in subsidiaries |
|
1,786,263 |
|
|
201,779 |
|
|
96,333 |
|
|
(2,084,375 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
448,334 |
|
|
261,163 |
|
|
(709,497 |
) |
|
— |
|
Other long-term assets |
|
10,957 |
|
|
22 |
|
|
5,472 |
|
|
— |
|
|
16,451 |
|
Total assets |
|
$ |
1,982,632 |
|
|
$ |
1,348,503 |
|
|
$ |
1,382,211 |
|
|
$ |
(2,793,872 |
) |
|
$ |
1,919,474 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
20,155 |
|
|
$ |
27,284 |
|
|
$ |
100,459 |
|
|
$ |
— |
|
|
$ |
147,898 |
|
Accrued compensation and benefits |
|
14,076 |
|
|
3,036 |
|
|
24,943 |
|
|
— |
|
|
42,055 |
|
Current maturities of long-term debt |
|
10,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,000 |
|
Income taxes payable |
|
8,811 |
|
|
— |
|
|
539 |
|
|
— |
|
|
9,350 |
|
Other current liabilities |
|
20,083 |
|
|
4,484 |
|
|
27,390 |
|
|
— |
|
|
51,957 |
|
Current liabilities of discontinued operations |
|
— |
|
|
23,780 |
|
|
28,503 |
|
|
— |
|
|
52,283 |
|
Total current liabilities |
|
73,125 |
|
|
58,584 |
|
|
181,834 |
|
|
— |
|
|
313,543 |
|
Long-term debt |
|
382,500 |
|
|
— |
|
|
— |
|
|
— |
|
|
382,500 |
|
Deferred income taxes |
|
70,371 |
|
|
— |
|
|
27,374 |
|
|
— |
|
|
97,745 |
|
Pension and postretirement benefit liabilities |
|
21,728 |
|
|
— |
|
|
3,839 |
|
|
— |
|
|
25,567 |
|
Other long-term liabilities |
|
53,325 |
|
|
428 |
|
|
14,528 |
|
|
— |
|
|
68,281 |
|
Intercompany payable |
|
349,745 |
|
|
— |
|
|
359,752 |
|
|
(709,497 |
) |
|
— |
|
Shareholders’ equity |
|
1,031,838 |
|
|
1,289,491 |
|
|
794,884 |
|
|
(2,084,375 |
) |
|
1,031,838 |
|
Total liabilities and shareholders’ equity |
|
$ |
1,982,632 |
|
|
$ |
1,348,503 |
|
|
$ |
1,382,211 |
|
|
$ |
(2,793,872 |
) |
|
$ |
1,919,474 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 31, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
12,401 |
|
|
$ |
91 |
|
|
$ |
55,692 |
|
|
$ |
— |
|
|
$ |
68,184 |
|
Accounts receivable, net |
|
20,401 |
|
|
74,006 |
|
|
140,349 |
|
|
— |
|
|
234,756 |
|
Inventories, net |
|
29,658 |
|
|
75,905 |
|
|
106,127 |
|
|
— |
|
|
211,690 |
|
Deferred income taxes |
|
17,942 |
|
|
— |
|
|
4,641 |
|
|
— |
|
|
22,583 |
|
Other current assets |
|
8,157 |
|
|
1,166 |
|
|
14,745 |
|
|
— |
|
|
24,068 |
|
Total current assets |
|
88,559 |
|
|
151,168 |
|
|
321,554 |
|
|
— |
|
|
561,281 |
|
Property, plant & equipment, net |
|
6,944 |
|
|
31,818 |
|
|
77,122 |
|
|
— |
|
|
115,884 |
|
Goodwill |
|
62,543 |
|
|
433,193 |
|
|
370,676 |
|
|
— |
|
|
866,412 |
|
Other intangibles, net |
|
14,522 |
|
|
206,194 |
|
|
225,168 |
|
|
— |
|
|
445,884 |
|
Investment in subsidiaries |
|
1,886,478 |
|
|
250,738 |
|
|
90,770 |
|
|
(2,227,986 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
418,253 |
|
|
307,282 |
|
|
(725,535 |
) |
|
— |
|
Other long-term assets |
|
12,297 |
|
|
22 |
|
|
5,339 |
|
|
— |
|
|
17,658 |
|
Total assets |
|
$ |
2,071,343 |
|
|
$ |
1,491,386 |
|
|
$ |
1,397,911 |
|
|
$ |
(2,953,521 |
) |
|
$ |
2,007,119 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
21,722 |
|
|
$ |
44,893 |
|
|
$ |
108,131 |
|
|
$ |
— |
|
|
$ |
174,746 |
|
Accrued compensation and benefits |
|
23,459 |
|
|
6,646 |
|
|
28,712 |
|
|
— |
|
|
58,817 |
|
Current maturities of long-term debt |
|
7,500 |
|
|
— |
|
|
— |
|
|
— |
|
|
7,500 |
|
Income taxes payable |
|
3,129 |
|
|
— |
|
|
2,649 |
|
|
— |
|
|
5,778 |
|
Other current liabilities |
|
20,876 |
|
|
11,566 |
|
|
39,723 |
|
|
— |
|
|
72,165 |
|
Total current liabilities |
|
76,686 |
|
|
63,105 |
|
|
179,215 |
|
|
— |
|
|
319,006 |
|
Long-term debt |
|
390,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
390,000 |
|
Deferred income taxes |
|
91,604 |
|
|
— |
|
|
41,049 |
|
|
— |
|
|
132,653 |
|
Pension and postretirement benefit liabilities |
|
22,500 |
|
|
— |
|
|
3,942 |
|
|
— |
|
|
26,442 |
|
Other long-term liabilities |
|
59,929 |
|
|
620 |
|
|
26,633 |
|
|
— |
|
|
87,182 |
|
Intercompany payable |
|
378,788 |
|
|
— |
|
|
346,747 |
|
|
(725,535 |
) |
|
— |
|
Shareholders’ equity |
|
1,051,836 |
|
|
1,427,661 |
|
|
800,325 |
|
|
(2,227,986 |
) |
|
1,051,836 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,071,343 |
|
|
$ |
1,491,386 |
|
|
$ |
1,397,911 |
|
|
$ |
(2,953,521 |
) |
|
$ |
2,007,119 |
|
|
Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
$ |
61,900 |
|
|
$ |
28,192 |
|
|
$ |
26,178 |
|
|
$ |
— |
|
|
$ |
116,270 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment |
|
554 |
|
|
75 |
|
|
688 |
|
|
— |
|
|
1,317 |
|
Proceeds from sale of business |
|
— |
|
|
— |
|
|
4,854 |
|
|
— |
|
|
4,854 |
|
Capital expenditures |
|
(1,387 |
) |
|
(3,461 |
) |
|
(14,047 |
) |
|
— |
|
|
(18,895 |
) |
Cash used in investing activities |
|
(833 |
) |
|
(3,386 |
) |
|
(8,505 |
) |
|
— |
|
|
(12,724 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Principal repayments on term loan |
|
(5,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(5,000 |
) |
Intercompany loan activity |
|
(42,904 |
) |
|
(24,897 |
) |
|
67,801 |
|
|
— |
|
|
— |
|
Purchase of treasury shares |
|
(13,670 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13,670 |
) |
Stock option exercises and related tax benefits |
|
18,705 |
|
|
— |
|
|
— |
|
|
— |
|
|
18,705 |
|
Payment of contingent consideration |
|
(1,350 |
) |
|
— |
|
|
(2,285 |
) |
|
— |
|
|
(3,635 |
) |
Cash dividend |
|
(2,911 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,911 |
) |
Cash provided by (used in) financing activities |
|
(47,130 |
) |
|
(24,897 |
) |
|
65,516 |
|
|
— |
|
|
(6,511 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(3,801 |
) |
|
— |
|
|
(3,801 |
) |
Net increase (decrease) in cash and cash equivalents |
|
13,937 |
|
|
(91 |
) |
|
79,388 |
|
|
— |
|
|
93,234 |
|
Cash and cash equivalents—beginning of period |
|
12,401 |
|
|
91 |
|
|
55,692 |
|
|
— |
|
|
68,184 |
|
Cash and cash equivalents—end of period |
|
$ |
26,338 |
|
|
$ |
— |
|
|
$ |
135,080 |
|
|
$ |
— |
|
|
$ |
161,418 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
$ |
56,851 |
|
|
$ |
13,659 |
|
|
$ |
58,804 |
|
|
$ |
— |
|
|
$ |
129,314 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment |
|
2,100 |
|
|
137 |
|
|
6,249 |
|
|
— |
|
|
8,486 |
|
Capital expenditures |
|
(4,367 |
) |
|
(2,797 |
) |
|
(10,327 |
) |
|
— |
|
|
(17,491 |
) |
Business acquisitions, net of cash acquired |
|
— |
|
|
— |
|
|
(28,776 |
) |
|
— |
|
|
(28,776 |
) |
Cash used in investing activities |
|
(2,267 |
) |
|
(2,660 |
) |
|
(32,854 |
) |
|
— |
|
|
(37,781 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Net changes in borrowings on revolver and other debt |
|
(57,990 |
) |
|
— |
|
|
(177 |
) |
|
— |
|
|
(58,167 |
) |
Principal repayments of term loans |
|
(1,250 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,250 |
) |
Intercompany loan activity |
|
(2,947 |
) |
|
(10,999 |
) |
|
13,946 |
|
|
— |
|
|
— |
|
Repurchases of 2% Convertible Notes |
|
(102 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(102 |
) |
Proceeds on 5.625% Senior Note issuance |
|
300,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
300,000 |
|
Redemption of 6.875% Senior Notes |
|
(250,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(250,000 |
) |
Debt issuance costs |
|
(5,340 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(5,340 |
) |
Purchase of treasury shares |
|
(39,282 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(39,282 |
) |
Stock option exercises and related tax benefits |
|
6,392 |
|
|
— |
|
|
— |
|
|
— |
|
|
6,392 |
|
Payment of contingent consideration |
|
(290 |
) |
|
— |
|
|
(668 |
) |
|
— |
|
|
(958 |
) |
Cash dividend |
|
(2,748 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,748 |
) |
Cash provided by (used in) financing activities |
|
(53,557 |
) |
|
(10,999 |
) |
|
13,101 |
|
|
— |
|
|
(51,455 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(4,150 |
) |
|
— |
|
|
(4,150 |
) |
Net increase in cash and cash equivalents |
|
1,027 |
|
|
— |
|
|
34,901 |
|
|
— |
|
|
35,928 |
|
Cash and cash equivalents—beginning of period |
|
872 |
|
|
— |
|
|
43,349 |
|
|
— |
|
|
44,221 |
|
Cash and cash equivalents—end of period |
|
$ |
1,899 |
|
|
$ |
— |
|
|
$ |
78,250 |
|
|
$ |
— |
|
|
$ |
80,149 |
|
|