Guarantor Subsidiaries (Tables)
|
12 Months Ended |
Aug. 31, 2017 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Condensed Consolidating Statements of Earnings |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended August 31, 2017 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
145,223 |
|
|
$ |
355,989 |
|
|
$ |
594,572 |
|
|
$ |
— |
|
|
$ |
1,095,784 |
|
Cost of products sold |
|
34,300 |
|
|
260,700 |
|
|
421,067 |
|
|
— |
|
|
716,067 |
|
Gross profit |
|
110,923 |
|
|
95,289 |
|
|
173,505 |
|
|
— |
|
|
379,717 |
|
Selling, administrative and engineering expenses |
|
74,996 |
|
|
69,826 |
|
|
132,666 |
|
|
— |
|
|
277,488 |
|
Amortization of intangible assets |
|
1,272 |
|
|
11,715 |
|
|
7,487 |
|
|
— |
|
|
20,474 |
|
Restructuring charges |
|
826 |
|
|
1,359 |
|
|
5,043 |
|
|
— |
|
|
7,228 |
|
Director & officer transition charges |
|
7,784 |
|
|
— |
|
|
— |
|
|
— |
|
|
7,784 |
|
Impairment & other divestiture charges |
|
— |
|
|
— |
|
|
116,979 |
|
|
— |
|
|
116,979 |
|
Operating profit (loss) |
|
26,045 |
|
|
12,389 |
|
|
(88,670 |
) |
|
— |
|
|
(50,236 |
) |
Financing costs, net |
|
30,005 |
|
|
35 |
|
|
(337 |
) |
|
— |
|
|
29,703 |
|
Intercompany (income) expense, net |
|
(22,941 |
) |
|
22,066 |
|
|
875 |
|
|
— |
|
|
— |
|
Intercompany dividends |
|
5,353 |
|
|
(59,401 |
) |
|
(5,353 |
) |
|
59,401 |
|
|
— |
|
Other expense (income), net |
|
2,690 |
|
|
87 |
|
|
(25 |
) |
|
— |
|
|
2,752 |
|
Earnings (loss) before income tax benefit |
|
10,938 |
|
|
49,602 |
|
|
(83,830 |
) |
|
(59,401 |
) |
|
(82,691 |
) |
Income tax benefit |
|
(782 |
) |
|
(14,574 |
) |
|
(1,122 |
) |
|
— |
|
|
(16,478 |
) |
Net earnings (loss) before equity in (loss) earnings of subsidiaries |
|
11,720 |
|
|
64,176 |
|
|
(82,708 |
) |
|
(59,401 |
) |
|
(66,213 |
) |
Equity in (loss) earnings of subsidiaries |
|
(77,933 |
) |
|
(81,389 |
) |
|
3,335 |
|
|
155,987 |
|
|
— |
|
Net loss |
|
(66,213 |
) |
|
(17,213 |
) |
|
(79,373 |
) |
|
96,586 |
|
|
(66,213 |
) |
Comprehensive loss |
|
$ |
(41,651 |
) |
|
$ |
(35,121 |
) |
|
$ |
(39,942 |
) |
|
$ |
75,063 |
|
|
$ |
(41,651 |
) |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended August 31, 2016 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
135,679 |
|
|
$ |
361,209 |
|
|
$ |
652,522 |
|
|
$ |
— |
|
|
$ |
1,149,410 |
|
Cost of products sold |
|
34,576 |
|
|
263,197 |
|
|
448,240 |
|
|
— |
|
|
746,013 |
|
Gross profit |
|
101,103 |
|
|
98,012 |
|
|
204,282 |
|
|
— |
|
|
403,397 |
|
Selling, administrative and engineering expenses |
|
69,677 |
|
|
69,382 |
|
|
135,438 |
|
|
— |
|
|
274,497 |
|
Restructuring charges |
|
2,426 |
|
|
3,455 |
|
|
8,690 |
|
|
— |
|
|
14,571 |
|
Amortization of intangible assets |
|
1,272 |
|
|
13,287 |
|
|
8,384 |
|
|
— |
|
|
22,943 |
|
Loss on product line divestiture |
|
— |
|
|
5,092 |
|
|
— |
|
|
— |
|
|
5,092 |
|
Impairment charges |
|
— |
|
|
49,012 |
|
|
137,499 |
|
|
— |
|
|
186,511 |
|
Operating profit (loss) |
|
27,728 |
|
|
(42,216 |
) |
|
(85,729 |
) |
|
— |
|
|
(100,217 |
) |
Financing costs, net |
|
30,123 |
|
|
— |
|
|
(1,355 |
) |
|
— |
|
|
28,768 |
|
Intercompany (income) expense, net |
|
(20,445 |
) |
|
(9,999 |
) |
|
30,444 |
|
|
— |
|
|
— |
|
Intercompany dividends |
|
— |
|
|
— |
|
|
(5,338 |
) |
|
5,338 |
|
|
— |
|
Other expense, net |
|
914 |
|
|
54 |
|
|
391 |
|
|
— |
|
|
1,359 |
|
Earnings (loss) before income taxes |
|
17,136 |
|
|
(32,271 |
) |
|
(109,871 |
) |
|
(5,338 |
) |
|
(130,344 |
) |
Income tax (benefit) expense |
|
(8,729 |
) |
|
519 |
|
|
(17,046 |
) |
|
86 |
|
|
(25,170 |
) |
Net earnings (loss) before equity in (loss) earnings of subsidiaries |
|
25,865 |
|
|
(32,790 |
) |
|
(92,825 |
) |
|
(5,424 |
) |
|
(105,174 |
) |
Equity in (loss) earnings of subsidiaries |
|
(131,037 |
) |
|
(83,747 |
) |
|
3,024 |
|
|
211,760 |
|
|
— |
|
Net loss |
|
(105,174 |
) |
|
(116,537 |
) |
|
(89,801 |
) |
|
206,336 |
|
|
(105,174 |
) |
Comprehensive loss |
|
$ |
(143,357 |
) |
|
$ |
(157,344 |
) |
|
$ |
(83,802 |
) |
|
$ |
241,146 |
|
|
$ |
(143,357 |
) |
CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE LOSS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended August 31, 2015 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
158,836 |
|
|
$ |
385,476 |
|
|
$ |
704,942 |
|
|
$ |
— |
|
|
$ |
1,249,254 |
|
Cost of products sold |
|
40,858 |
|
|
280,081 |
|
|
466,474 |
|
|
— |
|
|
787,413 |
|
Gross profit |
|
117,978 |
|
|
105,395 |
|
|
238,468 |
|
|
— |
|
|
461,841 |
|
Selling, administrative and engineering expenses |
|
74,588 |
|
|
69,041 |
|
|
155,972 |
|
|
— |
|
|
299,601 |
|
Impairment charges |
|
— |
|
|
20,249 |
|
|
64,104 |
|
|
— |
|
|
84,353 |
|
Amortization of intangible assets |
|
1,272 |
|
|
13,061 |
|
|
10,000 |
|
|
— |
|
|
24,333 |
|
Operating profit |
|
42,118 |
|
|
3,044 |
|
|
8,392 |
|
|
— |
|
|
53,554 |
|
Financing costs, net |
|
29,295 |
|
|
— |
|
|
(1,238 |
) |
|
— |
|
|
28,057 |
|
Intercompany (income) expense, net |
|
(19,727 |
) |
|
(8,835 |
) |
|
28,562 |
|
|
— |
|
|
— |
|
Intercompany dividends |
|
(212 |
) |
|
(243 |
) |
|
(10,707 |
) |
|
11,162 |
|
|
— |
|
Other expense (income), net |
|
160 |
|
|
(84 |
) |
|
30 |
|
|
— |
|
|
106 |
|
Earnings (loss) before income taxes |
|
32,602 |
|
|
12,206 |
|
|
(8,255 |
) |
|
(11,162 |
) |
|
25,391 |
|
Income tax (benefit) expense |
|
(8,218 |
) |
|
4,056 |
|
|
10,939 |
|
|
(1,258 |
) |
|
5,519 |
|
Net earnings (loss) before equity in earnings (loss) of subsidiaries |
|
40,820 |
|
|
8,150 |
|
|
(19,194 |
) |
|
(9,904 |
) |
|
19,872 |
|
Equity in earnings (loss) of subsidiaries |
|
(20,948 |
) |
|
(1,720 |
) |
|
6,520 |
|
|
16,148 |
|
|
— |
|
Net earnings (loss) |
|
19,872 |
|
|
6,430 |
|
|
(12,674 |
) |
|
6,244 |
|
|
19,872 |
|
Comprehensive loss |
|
$ |
(125,360 |
) |
|
$ |
(10,689 |
) |
|
$ |
(88,431 |
) |
|
$ |
99,120 |
|
|
$ |
(125,360 |
) |
|
| Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 31, 2017 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
34,715 |
|
|
$ |
— |
|
|
$ |
194,856 |
|
|
$ |
— |
|
|
$ |
229,571 |
|
Accounts receivable, net |
|
17,498 |
|
|
50,749 |
|
|
121,959 |
|
|
— |
|
|
190,206 |
|
Inventories, net |
|
23,308 |
|
|
48,492 |
|
|
71,851 |
|
|
— |
|
|
143,651 |
|
Assets held for sale |
|
— |
|
|
— |
|
|
21,835 |
|
|
— |
|
|
21,835 |
|
Other current assets |
|
23,576 |
|
|
3,619 |
|
|
34,468 |
|
|
— |
|
|
61,663 |
|
Total current assets |
|
99,097 |
|
|
102,860 |
|
|
444,969 |
|
|
— |
|
|
646,926 |
|
Property, plant & equipment, net |
|
7,049 |
|
|
26,130 |
|
|
61,342 |
|
|
— |
|
|
94,521 |
|
Goodwill |
|
38,847 |
|
|
200,499 |
|
|
290,735 |
|
|
— |
|
|
530,081 |
|
Other intangible assets, net |
|
8,156 |
|
|
138,042 |
|
|
74,291 |
|
|
— |
|
|
220,489 |
|
Investment in subsidiaries |
|
1,832,472 |
|
|
1,186,715 |
|
|
805,016 |
|
|
(3,824,203 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
589,193 |
|
|
205,183 |
|
|
(794,376 |
) |
|
— |
|
Other long-term assets |
|
8,377 |
|
|
812 |
|
|
15,749 |
|
|
— |
|
|
24,938 |
|
Total assets |
|
$ |
1,993,998 |
|
|
$ |
2,244,251 |
|
|
$ |
1,897,285 |
|
|
$ |
(4,618,579 |
) |
|
$ |
1,516,955 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
15,412 |
|
|
$ |
27,168 |
|
|
$ |
90,807 |
|
|
$ |
— |
|
|
$ |
133,387 |
|
Accrued compensation and benefits |
|
19,082 |
|
|
7,672 |
|
|
24,185 |
|
|
— |
|
|
50,939 |
|
Current maturities of debt and short-term borrowings |
|
30,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
30,000 |
|
Income taxes payable |
|
153 |
|
|
— |
|
|
5,927 |
|
|
— |
|
|
6,080 |
|
Liabilities held for sale |
|
— |
|
|
— |
|
|
101,083 |
|
|
— |
|
|
101,083 |
|
Other current liabilities |
|
18,512 |
|
|
7,169 |
|
|
31,764 |
|
|
— |
|
|
57,445 |
|
Total current liabilities |
|
83,159 |
|
|
42,009 |
|
|
253,766 |
|
|
— |
|
|
378,934 |
|
Long-term debt, net |
|
531,940 |
|
|
— |
|
|
— |
|
|
— |
|
|
531,940 |
|
Deferred income taxes |
|
24,164 |
|
|
— |
|
|
5,695 |
|
|
— |
|
|
29,859 |
|
Pension and post-retirement benefit liabilities |
|
12,540 |
|
|
— |
|
|
7,322 |
|
|
— |
|
|
19,862 |
|
Other long-term liabilities |
|
48,692 |
|
|
352 |
|
|
6,777 |
|
|
— |
|
|
55,821 |
|
Intercompany payable |
|
792,964 |
|
|
— |
|
|
1,412 |
|
|
(794,376 |
) |
|
— |
|
Shareholders’ equity |
|
500,539 |
|
|
2,201,890 |
|
|
1,622,313 |
|
|
(3,824,203 |
) |
|
500,539 |
|
Total liabilities and shareholders’ equity |
|
$ |
1,993,998 |
|
|
$ |
2,244,251 |
|
|
$ |
1,897,285 |
|
|
$ |
(4,618,579 |
) |
|
$ |
1,516,955 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 31, 2016 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
7,953 |
|
|
$ |
71 |
|
|
$ |
171,580 |
|
|
$ |
— |
|
|
$ |
179,604 |
|
Accounts receivable, net |
|
13,692 |
|
|
41,715 |
|
|
131,422 |
|
|
— |
|
|
186,829 |
|
Inventories, net |
|
19,897 |
|
|
44,283 |
|
|
66,576 |
|
|
— |
|
|
130,756 |
|
Other current assets |
|
7,754 |
|
|
3,858 |
|
|
33,851 |
|
|
— |
|
|
45,463 |
|
Total current assets |
|
49,296 |
|
|
89,927 |
|
|
403,429 |
|
|
— |
|
|
542,652 |
|
Property, plant & equipment, net |
|
5,927 |
|
|
23,511 |
|
|
84,577 |
|
|
— |
|
|
114,015 |
|
Goodwill |
|
38,847 |
|
|
200,499 |
|
|
279,930 |
|
|
— |
|
|
519,276 |
|
Other intangibles, net |
|
9,429 |
|
|
149,757 |
|
|
80,289 |
|
|
— |
|
|
239,475 |
|
Investment in subsidiaries |
|
1,915,367 |
|
|
578,423 |
|
|
465,736 |
|
|
(2,959,526 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
1,159,672 |
|
|
— |
|
|
(1,159,672 |
) |
|
— |
|
Other long-term assets |
|
5,702 |
|
|
10 |
|
|
17,530 |
|
|
— |
|
|
23,242 |
|
Total assets |
|
$ |
2,024,568 |
|
|
$ |
2,201,799 |
|
|
$ |
1,331,491 |
|
|
$ |
(4,119,198 |
) |
|
$ |
1,438,660 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
11,529 |
|
|
$ |
20,669 |
|
|
$ |
82,853 |
|
|
$ |
— |
|
|
$ |
115,051 |
|
Accrued compensation and benefits |
|
17,506 |
|
|
5,754 |
|
|
23,641 |
|
|
— |
|
|
46,901 |
|
Current maturities of debt and short-term borrowings |
|
18,750 |
|
|
— |
|
|
— |
|
|
— |
|
|
18,750 |
|
Income taxes payable |
|
1,886 |
|
|
— |
|
|
7,368 |
|
|
— |
|
|
9,254 |
|
Other current liabilities |
|
20,459 |
|
|
6,989 |
|
|
24,508 |
|
|
— |
|
|
51,956 |
|
Total current liabilities |
|
70,130 |
|
|
33,412 |
|
|
138,370 |
|
|
— |
|
|
241,912 |
|
Long-term debt, net |
|
561,681 |
|
|
— |
|
|
— |
|
|
— |
|
|
561,681 |
|
Deferred income taxes |
|
30,666 |
|
|
— |
|
|
690 |
|
|
— |
|
|
31,356 |
|
Pension and post-retirement benefit liabilities |
|
16,803 |
|
|
— |
|
|
8,864 |
|
|
— |
|
|
25,667 |
|
Other long-term liabilities |
|
47,739 |
|
|
588 |
|
|
8,767 |
|
|
— |
|
|
57,094 |
|
Intercompany payable |
|
776,599 |
|
|
— |
|
|
383,073 |
|
|
(1,159,672 |
) |
|
— |
|
Shareholders’ equity |
|
520,950 |
|
|
2,167,799 |
|
|
791,727 |
|
|
(2,959,526 |
) |
|
520,950 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,024,568 |
|
|
$ |
2,201,799 |
|
|
$ |
1,331,491 |
|
|
$ |
(4,119,198 |
) |
|
$ |
1,438,660 |
|
|
| Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended August 31, 2017 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
$ |
98,589 |
|
|
$ |
14,340 |
|
|
$ |
39,672 |
|
|
$ |
(64,754 |
) |
|
$ |
87,847 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
(3,391 |
) |
|
(9,265 |
) |
|
(15,539 |
) |
|
— |
|
|
(28,195 |
) |
Proceeds from sale of property, plant and equipment |
|
— |
|
|
207 |
|
|
363 |
|
|
— |
|
|
570 |
|
Intercompany investment |
|
(6,900 |
) |
|
— |
|
|
— |
|
|
6,900 |
|
|
— |
|
Cash used in investing activities |
|
(10,291 |
) |
|
(9,058 |
) |
|
(15,176 |
) |
|
6,900 |
|
|
(27,625 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Principal repayment on term loan |
|
(18,750 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(18,750 |
) |
Redemption on 5.625% Senior Notes |
|
(500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(500 |
) |
Taxes paid related to the net share settlement of equity awards |
|
(1,065 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,065 |
) |
Stock option exercises, related tax benefits and other |
|
8,917 |
|
|
— |
|
|
— |
|
|
— |
|
|
8,917 |
|
Payment of contingent acquisition consideration |
|
— |
|
|
— |
|
|
(742 |
) |
|
— |
|
|
(742 |
) |
Cash dividend |
|
(2,358 |
) |
|
(5,353 |
) |
|
(59,401 |
) |
|
64,754 |
|
|
(2,358 |
) |
Intercompany loan activity |
|
(47,780 |
) |
|
— |
|
|
47,780 |
|
|
— |
|
|
— |
|
Intercompany capital contributions |
|
— |
|
|
— |
|
|
6,900 |
|
|
(6,900 |
) |
|
— |
|
Cash used in financing activities |
|
(61,536 |
) |
|
(5,353 |
) |
|
(5,463 |
) |
|
57,854 |
|
|
(14,498 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
4,243 |
|
|
— |
|
|
4,243 |
|
Net increase (decrease) in cash and cash equivalents |
|
26,762 |
|
|
(71 |
) |
|
23,276 |
|
|
— |
|
|
49,967 |
|
Cash and cash equivalents—beginning of period |
|
7,953 |
|
|
71 |
|
|
171,580 |
|
|
— |
|
|
179,604 |
|
Cash and cash equivalents—end of period |
|
$ |
34,715 |
|
|
$ |
— |
|
|
$ |
194,856 |
|
|
$ |
— |
|
|
$ |
229,571 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended August 31, 2016 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
|
$ |
58,926 |
|
|
$ |
(1,953 |
) |
|
$ |
66,062 |
|
|
$ |
(5,338 |
) |
|
$ |
117,697 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
(2,135 |
) |
|
(6,781 |
) |
|
(11,293 |
) |
|
— |
|
|
(20,209 |
) |
Proceeds from sale of property, plant and equipment |
|
13 |
|
|
7,000 |
|
|
2,283 |
|
|
— |
|
|
9,296 |
|
Intercompany investment |
|
(339 |
) |
|
(3,458 |
) |
|
— |
|
|
3,797 |
|
|
— |
|
Business acquisitions, net of cash acquired |
|
— |
|
|
— |
|
|
(81,916 |
) |
|
— |
|
|
(81,916 |
) |
Proceeds from sale of businesses, net of transaction costs |
|
— |
|
|
9,695 |
|
|
— |
|
|
— |
|
|
9,695 |
|
Cash (used in) provided by investing activities |
|
(2,461 |
) |
|
6,456 |
|
|
(90,926 |
) |
|
3,797 |
|
|
(83,134 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Net repayments on revolving credit facility |
|
— |
|
|
— |
|
|
(210 |
) |
|
— |
|
|
(210 |
) |
Principal repayments on term loan |
|
(3,750 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(3,750 |
) |
Purchase of treasury shares |
|
(17,101 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(17,101 |
) |
Taxes paid related to the net share settlement of equity awards |
|
(1,409 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,409 |
) |
Stock option exercises, related tax benefits and other |
|
6,416 |
|
|
— |
|
|
— |
|
|
— |
|
|
6,416 |
|
Cash dividend |
|
(2,376 |
) |
|
(5,338 |
) |
|
— |
|
|
5,338 |
|
|
(2,376 |
) |
Intercompany loan activity |
|
(48,980 |
) |
|
— |
|
|
48,980 |
|
|
— |
|
|
— |
|
Intercompany capital contributions |
|
— |
|
|
339 |
|
|
3,458 |
|
|
(3,797 |
) |
|
— |
|
Cash (used in) provided by financing activities |
|
(67,200 |
) |
|
(4,999 |
) |
|
52,228 |
|
|
1,541 |
|
|
(18,430 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(5,375 |
) |
|
— |
|
|
(5,375 |
) |
Net (decrease) increase in cash and cash equivalents |
|
(10,735 |
) |
|
(496 |
) |
|
21,989 |
|
|
— |
|
|
10,758 |
|
Cash and cash equivalents—beginning of period |
|
18,688 |
|
|
567 |
|
|
149,591 |
|
|
— |
|
|
168,846 |
|
Cash and cash equivalents—end of period |
|
$ |
7,953 |
|
|
$ |
71 |
|
|
$ |
171,580 |
|
|
$ |
— |
|
|
$ |
179,604 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended August 31, 2015 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
|
$ |
90,632 |
|
|
$ |
(20,750 |
) |
|
$ |
72,228 |
|
|
$ |
(10,676 |
) |
|
$ |
131,434 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
(1,086 |
) |
|
(5,848 |
) |
|
(15,582 |
) |
|
— |
|
|
(22,516 |
) |
Proceeds from sale of property, plant and equipment |
|
— |
|
|
273 |
|
|
971 |
|
|
— |
|
|
1,244 |
|
Intercompany investment |
|
(3,727 |
) |
|
— |
|
|
— |
|
|
3,727 |
|
|
— |
|
Cash used in investing activities |
|
(4,813 |
) |
|
(5,575 |
) |
|
(14,611 |
) |
|
3,727 |
|
|
(21,272 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Net borrowings on revolving credit facility |
|
— |
|
|
— |
|
|
220 |
|
|
— |
|
|
220 |
|
Principal repayment on term loan |
|
(3,375 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(3,375 |
) |
Proceeds from term loans |
|
213,375 |
|
|
— |
|
|
— |
|
|
— |
|
|
213,375 |
|
Redemption of 5.625% Senior Notes |
|
(11,941 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(11,941 |
) |
Debt issuance costs |
|
(2,025 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,025 |
) |
Purchase of treasury shares |
|
(212,003 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(212,003 |
) |
Taxes paid related to net share settlement of equity awards |
|
(2,466 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,466 |
) |
Stock option exercises, related tax benefits and other |
|
5,396 |
|
|
— |
|
|
— |
|
|
— |
|
|
5,396 |
|
Cash dividend |
|
(2,598 |
) |
|
(10,676 |
) |
|
— |
|
|
10,676 |
|
|
(2,598 |
) |
Intercompany loan activity |
|
(79,425 |
) |
|
34,081 |
|
|
45,344 |
|
|
— |
|
|
— |
|
Intercompany capital contribution |
|
— |
|
|
— |
|
|
3,727 |
|
|
(3,727 |
) |
|
— |
|
Cash (used in) provided by financing activities
|
|
(95,062 |
) |
|
23,405 |
|
|
49,291 |
|
|
6,949 |
|
|
(15,417 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(34,911 |
) |
|
— |
|
|
(34,911 |
) |
Net (decrease) increase in cash and cash equivalents |
|
(9,243 |
) |
|
(2,920 |
) |
|
71,997 |
|
|
— |
|
|
59,834 |
|
Cash and cash equivalents—beginning of period |
|
27,931 |
|
|
3,487 |
|
|
77,594 |
|
|
— |
|
|
109,012 |
|
Cash and cash equivalents—end of period |
|
$ |
18,688 |
|
|
$ |
567 |
|
|
$ |
149,591 |
|
|
$ |
— |
|
|
$ |
168,846 |
|
|