Guarantor Subsidiaries (Tables)
|
9 Months Ended |
May 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
Schedule Of Condensed Consolidating Statement Of Earnings And Comprehensive Income [Table Text Block] |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
$ |
42,915 |
|
|
$ |
67,493 |
|
|
$ |
184,858 |
|
|
$ |
— |
|
|
$ |
295,266 |
|
Cost of products sold |
11,238 |
|
|
45,853 |
|
|
126,274 |
|
|
— |
|
|
183,365 |
|
Gross profit |
31,677 |
|
|
21,640 |
|
|
58,584 |
|
|
— |
|
|
111,901 |
|
Selling, administrative and engineering expenses |
20,766 |
|
|
11,823 |
|
|
37,023 |
|
|
— |
|
|
69,612 |
|
Amortization of intangible assets |
318 |
|
|
1,532 |
|
|
2,561 |
|
|
— |
|
|
4,411 |
|
Restructuring charges |
574 |
|
|
205 |
|
|
336 |
|
|
— |
|
|
1,115 |
|
Impairment & divestiture charges (benefit) |
— |
|
|
876 |
|
|
(11,473 |
) |
|
— |
|
|
(10,597 |
) |
Operating profit |
10,019 |
|
|
7,204 |
|
|
30,137 |
|
|
— |
|
|
47,360 |
|
Financing costs, net |
7,221 |
|
|
— |
|
|
34 |
|
|
— |
|
|
7,255 |
|
Intercompany (income) expense, net |
(2,627 |
) |
|
5,711 |
|
|
(3,084 |
) |
|
— |
|
|
— |
|
Intercompany dividends |
(74,593 |
) |
|
(39,208 |
) |
|
— |
|
|
113,801 |
|
|
— |
|
Other (income) expense, net |
(52 |
) |
|
(14 |
) |
|
444 |
|
|
— |
|
|
378 |
|
Earnings before income tax expense |
80,070 |
|
|
40,715 |
|
|
32,743 |
|
|
(113,801 |
) |
|
39,727 |
|
Income tax expense |
2,067 |
|
|
1,304 |
|
|
3,938 |
|
|
— |
|
|
7,309 |
|
Net earnings before equity in (loss) earnings of subsidiaries |
78,003 |
|
|
39,411 |
|
|
28,805 |
|
|
(113,801 |
) |
|
32,418 |
|
Equity in (loss) earnings of subsidiaries |
(45,585 |
) |
|
19,556 |
|
|
6,080 |
|
|
19,949 |
|
|
— |
|
Net earnings |
$ |
32,418 |
|
|
$ |
58,967 |
|
|
$ |
34,885 |
|
|
$ |
(93,852 |
) |
|
$ |
32,418 |
|
Comprehensive income |
$ |
18,618 |
|
|
$ |
58,967 |
|
|
$ |
21,141 |
|
|
$ |
(80,108 |
) |
|
$ |
18,618 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
$ |
41,851 |
|
|
$ |
67,677 |
|
|
$ |
207,568 |
|
|
$ |
— |
|
|
$ |
317,096 |
|
Cost of products sold |
6,394 |
|
|
46,823 |
|
|
147,370 |
|
|
— |
|
|
200,587 |
|
Gross profit |
35,457 |
|
|
20,854 |
|
|
60,198 |
|
|
— |
|
|
116,509 |
|
Selling, administrative and engineering expenses |
22,373 |
|
|
12,276 |
|
|
42,814 |
|
|
— |
|
|
77,463 |
|
Amortization of intangible assets |
318 |
|
|
1,582 |
|
|
3,284 |
|
|
— |
|
|
5,184 |
|
Restructuring charges |
661 |
|
|
215 |
|
|
294 |
|
|
— |
|
|
1,170 |
|
Operating profit |
12,105 |
|
|
6,781 |
|
|
13,806 |
|
|
— |
|
|
32,692 |
|
Financing costs (income), net |
7,847 |
|
|
— |
|
|
(91 |
) |
|
— |
|
|
7,756 |
|
Intercompany (income) expense, net |
(2,123 |
) |
|
9,272 |
|
|
(7,149 |
) |
|
— |
|
|
— |
|
Other (income) expense, net |
(144 |
) |
|
(25 |
) |
|
88 |
|
|
— |
|
|
(81 |
) |
Earnings (loss) before income tax (benefit) expense |
6,525 |
|
|
(2,466 |
) |
|
20,958 |
|
|
— |
|
|
25,017 |
|
Income tax (benefit) expense |
(11,354 |
) |
|
(193 |
) |
|
7,552 |
|
|
— |
|
|
(3,995 |
) |
Net earnings (loss) before equity in earnings (loss) of subsidiaries |
17,879 |
|
|
(2,273 |
) |
|
13,406 |
|
|
— |
|
|
29,012 |
|
Equity in earnings (loss) of subsidiaries |
11,133 |
|
|
(1,253 |
) |
|
638 |
|
|
(10,518 |
) |
|
— |
|
Net earnings (loss) |
$ |
29,012 |
|
|
$ |
(3,526 |
) |
|
$ |
14,044 |
|
|
$ |
(10,518 |
) |
|
$ |
29,012 |
|
Comprehensive income (loss) |
$ |
8,059 |
|
|
$ |
(3,527 |
) |
|
$ |
(7,523 |
) |
|
$ |
11,050 |
|
|
$ |
8,059 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
$ |
124,295 |
|
|
$ |
189,752 |
|
|
$ |
545,657 |
|
|
$ |
— |
|
|
$ |
859,704 |
|
Cost of products sold |
31,096 |
|
|
133,547 |
|
|
380,666 |
|
|
— |
|
|
545,309 |
|
Gross profit |
93,199 |
|
|
56,205 |
|
|
164,991 |
|
|
— |
|
|
314,395 |
|
Selling, administrative and engineering expenses |
64,346 |
|
|
35,888 |
|
|
113,314 |
|
|
— |
|
|
213,548 |
|
Amortization of intangible assets |
954 |
|
|
4,596 |
|
|
6,581 |
|
|
— |
|
|
12,131 |
|
Restructuring charges |
574 |
|
|
112 |
|
|
892 |
|
|
— |
|
|
1,578 |
|
Impairment & divestiture (benefit) charges |
(904 |
) |
|
1,783 |
|
|
31,862 |
|
|
— |
|
|
32,741 |
|
Operating profit |
28,229 |
|
|
13,826 |
|
|
12,342 |
|
|
— |
|
|
54,397 |
|
Financing costs (income), net |
22,047 |
|
|
— |
|
|
(344 |
) |
|
— |
|
|
21,703 |
|
Intercompany (income) expense, net |
(12,797 |
) |
|
20,168 |
|
|
(7,371 |
) |
|
— |
|
|
— |
|
Intercompany dividends |
(320,841 |
) |
|
(39,208 |
) |
|
— |
|
|
360,049 |
|
|
— |
|
Other (income) expense, net |
(433 |
) |
|
(20 |
) |
|
2,399 |
|
|
— |
|
|
1,946 |
|
Earnings before income tax (benefit) expense |
340,253 |
|
|
32,886 |
|
|
17,658 |
|
|
(360,049 |
) |
|
30,748 |
|
Income tax (benefit) expense |
(218 |
) |
|
289 |
|
|
12,958 |
|
|
— |
|
|
13,029 |
|
Net earnings before equity in (loss) earnings of subsidiaries |
340,471 |
|
|
32,597 |
|
|
4,700 |
|
|
(360,049 |
) |
|
17,719 |
|
Equity in (loss) earnings of subsidiaries |
(322,752 |
) |
|
9,150 |
|
|
8,901 |
|
|
304,701 |
|
|
— |
|
Net earnings |
$ |
17,719 |
|
|
$ |
41,747 |
|
|
$ |
13,601 |
|
|
$ |
(55,348 |
) |
|
$ |
17,719 |
|
Comprehensive income |
$ |
38,412 |
|
|
$ |
41,747 |
|
|
$ |
34,432 |
|
|
$ |
(76,179 |
) |
|
$ |
38,412 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
$ |
113,780 |
|
|
$ |
180,385 |
|
|
$ |
587,051 |
|
|
$ |
— |
|
|
$ |
881,216 |
|
Cost of products sold |
19,205 |
|
|
129,964 |
|
|
424,931 |
|
|
— |
|
|
574,100 |
|
Gross profit |
94,575 |
|
|
50,421 |
|
|
162,120 |
|
|
— |
|
|
307,116 |
|
Selling, administrative and engineering expenses |
60,009 |
|
|
36,863 |
|
|
123,356 |
|
|
— |
|
|
220,228 |
|
Amortization of intangible assets |
954 |
|
|
4,746 |
|
|
9,783 |
|
|
— |
|
|
15,483 |
|
Restructuring charges |
6,211 |
|
|
634 |
|
|
4,404 |
|
|
|
|
|
11,249 |
|
Impairment & divestiture charges (benefit) |
4,217 |
|
|
— |
|
|
(1,230 |
) |
|
— |
|
|
2,987 |
|
Operating profit |
23,184 |
|
|
8,178 |
|
|
25,807 |
|
|
— |
|
|
57,169 |
|
Financing costs (income), net |
23,247 |
|
|
— |
|
|
(373 |
) |
|
— |
|
|
22,874 |
|
Intercompany (income) expense, net |
(11,987 |
) |
|
16,179 |
|
|
(4,192 |
) |
|
— |
|
|
— |
|
Other expense, net |
56 |
|
|
49 |
|
|
725 |
|
|
— |
|
|
830 |
|
Earnings (loss) before income tax (benefit) expense |
11,868 |
|
|
(8,050 |
) |
|
29,647 |
|
|
— |
|
|
33,465 |
|
Income tax (benefit) expense |
(1,028 |
) |
|
(1,087 |
) |
|
19,563 |
|
|
— |
|
|
17,448 |
|
Net earnings (loss) before equity in earnings (loss) of subsidiaries |
12,896 |
|
|
(6,963 |
) |
|
10,084 |
|
|
— |
|
|
16,017 |
|
Equity in earnings (loss) of subsidiaries |
3,121 |
|
|
(13,286 |
) |
|
(1,550 |
) |
|
11,715 |
|
|
— |
|
Net earnings (loss) |
$ |
16,017 |
|
|
$ |
(20,249 |
) |
|
$ |
8,534 |
|
|
$ |
11,715 |
|
|
$ |
16,017 |
|
Comprehensive income (loss) |
$ |
79,098 |
|
|
$ |
(20,250 |
) |
|
$ |
73,445 |
|
|
$ |
(53,195 |
) |
|
$ |
79,098 |
|
|
Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
7,453 |
|
|
$ |
— |
|
|
$ |
193,881 |
|
|
$ |
— |
|
|
$ |
201,334 |
|
Accounts receivable, net |
19,675 |
|
|
39,103 |
|
|
144,030 |
|
|
— |
|
|
202,808 |
|
Inventories, net |
28,842 |
|
|
40,665 |
|
|
98,085 |
|
|
— |
|
|
167,592 |
|
Other current assets |
11,006 |
|
|
2,506 |
|
|
30,963 |
|
|
— |
|
|
44,475 |
|
Total current assets |
66,976 |
|
|
82,274 |
|
|
466,959 |
|
|
— |
|
|
616,209 |
|
Property, plant & equipment, net |
7,557 |
|
|
16,286 |
|
|
66,130 |
|
|
— |
|
|
89,973 |
|
Goodwill |
38,847 |
|
|
178,097 |
|
|
274,555 |
|
|
— |
|
|
491,499 |
|
Other intangibles, net |
5,929 |
|
|
84,155 |
|
|
68,098 |
|
|
— |
|
|
158,182 |
|
Investment in subsidiaries |
1,630,936 |
|
|
1,028,078 |
|
|
374,724 |
|
|
(3,033,738 |
) |
|
— |
|
Intercompany receivable |
— |
|
|
— |
|
|
929,356 |
|
|
(929,356 |
) |
|
— |
|
Other long-term assets |
14,610 |
|
|
300 |
|
|
22,383 |
|
|
— |
|
|
37,293 |
|
Total assets |
$ |
1,764,855 |
|
|
$ |
1,389,190 |
|
|
$ |
2,202,205 |
|
|
$ |
(3,963,094 |
) |
|
$ |
1,393,156 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
16,185 |
|
|
12,902 |
|
|
97,058 |
|
|
— |
|
|
126,145 |
|
Accrued compensation and benefits |
12,642 |
|
|
3,260 |
|
|
24,027 |
|
|
— |
|
|
39,929 |
|
Current maturities of debt |
6,250 |
|
|
— |
|
|
— |
|
|
— |
|
|
6,250 |
|
Income taxes payable |
1,013 |
|
|
— |
|
|
7,749 |
|
|
— |
|
|
8,762 |
|
Other current liabilities |
18,786 |
|
|
4,493 |
|
|
29,198 |
|
|
— |
|
|
52,477 |
|
Total current liabilities |
54,876 |
|
|
20,655 |
|
|
158,032 |
|
|
— |
|
|
233,563 |
|
Long-term debt |
468,984 |
|
|
— |
|
|
— |
|
|
— |
|
|
468,984 |
|
Deferred income taxes |
2,533 |
|
|
13,360 |
|
|
5,208 |
|
|
— |
|
|
21,101 |
|
Pension and post-retirement benefit liabilities |
7,330 |
|
|
— |
|
|
6,945 |
|
|
— |
|
|
14,275 |
|
Other long-term liabilities |
43,394 |
|
|
256 |
|
|
4,159 |
|
|
— |
|
|
47,809 |
|
Intercompany payable |
580,314 |
|
|
349,042 |
|
|
— |
|
|
(929,356 |
) |
|
— |
|
Shareholders’ equity |
607,424 |
|
|
1,005,877 |
|
|
2,027,861 |
|
|
(3,033,738 |
) |
|
607,424 |
|
Total liabilities and shareholders’ equity |
$ |
1,764,855 |
|
|
$ |
1,389,190 |
|
|
$ |
2,202,205 |
|
|
$ |
(3,963,094 |
) |
|
$ |
1,393,156 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
67,945 |
|
|
$ |
— |
|
|
$ |
182,545 |
|
|
$ |
— |
|
|
$ |
250,490 |
|
Accounts receivable, net |
19,969 |
|
|
37,787 |
|
|
129,993 |
|
|
— |
|
|
187,749 |
|
Inventories, net |
22,646 |
|
|
35,840 |
|
|
97,870 |
|
|
— |
|
|
156,356 |
|
Assets held for sale |
— |
|
|
— |
|
|
23,573 |
|
|
— |
|
|
23,573 |
|
Other current assets |
7,359 |
|
|
2,542 |
|
|
32,831 |
|
|
— |
|
|
42,732 |
|
Total current assets |
117,919 |
|
|
76,169 |
|
|
466,812 |
|
|
— |
|
|
660,900 |
|
Property, plant & equipment, net |
7,937 |
|
|
14,635 |
|
|
67,648 |
|
|
— |
|
|
90,220 |
|
Goodwill |
38,847 |
|
|
178,097 |
|
|
295,468 |
|
|
— |
|
|
512,412 |
|
Other intangible assets, net |
6,884 |
|
|
88,752 |
|
|
85,401 |
|
|
— |
|
|
181,037 |
|
Investment in subsidiaries |
1,836,879 |
|
|
918,050 |
|
|
301,782 |
|
|
(3,056,711 |
) |
|
— |
|
Intercompany receivables |
— |
|
|
— |
|
|
937,259 |
|
|
(937,259 |
) |
|
— |
|
Other long-term assets |
12,955 |
|
|
366 |
|
|
23,448 |
|
|
— |
|
|
36,769 |
|
Total assets |
$ |
2,021,421 |
|
|
$ |
1,276,069 |
|
|
$ |
2,177,818 |
|
|
$ |
(3,993,970 |
) |
|
$ |
1,481,338 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Trade accounts payable |
$ |
16,186 |
|
|
$ |
16,496 |
|
|
$ |
98,156 |
|
|
$ |
— |
|
|
$ |
130,838 |
|
Accrued compensation and benefits |
22,171 |
|
|
5,930 |
|
|
26,407 |
|
|
— |
|
|
54,508 |
|
Current maturities of debt |
30,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
30,000 |
|
Income taxes payable |
— |
|
|
— |
|
|
4,091 |
|
|
— |
|
|
4,091 |
|
Liabilities held for sale |
— |
|
|
— |
|
|
44,225 |
|
|
— |
|
|
44,225 |
|
Other current liabilities |
17,380 |
|
|
8,361 |
|
|
41,558 |
|
|
— |
|
|
67,299 |
|
Total current liabilities |
85,737 |
|
|
30,787 |
|
|
214,437 |
|
|
— |
|
|
330,961 |
|
Long-term debt |
502,695 |
|
|
— |
|
|
— |
|
|
— |
|
|
502,695 |
|
Deferred income taxes |
17,467 |
|
|
— |
|
|
4,466 |
|
|
— |
|
|
21,933 |
|
Pension and post-retirement benefit liabilities |
7,765 |
|
|
— |
|
|
7,104 |
|
|
— |
|
|
14,869 |
|
Other long-term liabilities |
45,483 |
|
|
299 |
|
|
6,386 |
|
|
— |
|
|
52,168 |
|
Intercompany payable |
803,562 |
|
|
133,697 |
|
|
— |
|
|
(937,259 |
) |
|
— |
|
Shareholders’ equity |
558,712 |
|
|
1,111,286 |
|
|
1,945,425 |
|
|
(3,056,711 |
) |
|
558,712 |
|
Total liabilities and shareholders’ equity |
$ |
2,021,421 |
|
|
$ |
1,276,069 |
|
|
$ |
2,177,818 |
|
|
$ |
(3,993,970 |
) |
|
$ |
1,481,338 |
|
|
Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by operating activities |
$ |
(48,125 |
) |
|
$ |
239,969 |
|
|
$ |
169,396 |
|
|
$ |
(360,049 |
) |
|
$ |
1,191 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
Capital expenditures |
(1,314 |
) |
|
(4,614 |
) |
|
(17,791 |
) |
|
— |
|
|
(23,719 |
) |
Proceeds from sale of property, plant and equipment |
8 |
|
|
42 |
|
|
1,299 |
|
|
— |
|
|
1,349 |
|
Intercompany investment |
49,185 |
|
|
— |
|
|
— |
|
|
(49,185 |
) |
|
— |
|
Proceeds from sale of business, net of transaction costs |
23,611 |
|
|
— |
|
|
12,548 |
|
|
— |
|
|
36,159 |
|
Cash provided by (used in) investing activities |
71,490 |
|
|
(4,572 |
) |
|
(3,944 |
) |
|
(49,185 |
) |
|
13,789 |
|
Financing Activities |
|
|
|
|
|
|
|
|
|
Principal repayments on term loan |
(57,500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(57,500 |
) |
Payment for redemption of term loan |
(200,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(200,000 |
) |
Proceeds from issuance of term loan |
200,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
200,000 |
|
Payment of debt issuance costs |
(2,125 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,125 |
) |
Stock option exercises, related tax benefits and other |
1,352 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,352 |
|
Taxes paid related to the net share settlement of equity awards |
(1,811 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,811 |
) |
Cash dividends |
(2,439 |
) |
|
(261,978 |
) |
|
(98,071 |
) |
|
360,049 |
|
|
(2,439 |
) |
Intercompany loan activity |
(21,334 |
) |
|
26,581 |
|
|
(5,247 |
) |
|
— |
|
|
— |
|
Intercompany capital contribution |
— |
|
|
— |
|
|
(49,185 |
) |
|
49,185 |
|
|
— |
|
Cash used in financing activities |
(83,857 |
) |
|
(235,397 |
) |
|
(152,503 |
) |
|
409,234 |
|
|
(62,523 |
) |
Effect of exchange rate changes on cash |
— |
|
|
— |
|
|
(1,613 |
) |
|
— |
|
|
(1,613 |
) |
Net (decrease) increase in cash and cash equivalents |
(60,492 |
) |
|
— |
|
|
11,336 |
|
|
— |
|
|
(49,156 |
) |
Cash and cash equivalents—beginning of period |
67,945 |
|
|
— |
|
|
182,545 |
|
|
— |
|
|
250,490 |
|
Cash and cash equivalents—end of period |
$ |
7,453 |
|
|
$ |
— |
|
|
$ |
193,881 |
|
|
$ |
— |
|
|
$ |
201,334 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
25,851 |
|
|
$ |
5,587 |
|
|
$ |
4,151 |
|
|
$ |
— |
|
|
$ |
35,589 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
Capital expenditures |
(2,455 |
) |
|
(3,944 |
) |
|
(12,317 |
) |
|
— |
|
|
(18,716 |
) |
Proceeds from sale of property, plant and equipment |
— |
|
|
89 |
|
|
59 |
|
|
— |
|
|
148 |
|
Rental asset buyout for Viking divestiture |
— |
|
|
— |
|
|
(27,718 |
) |
|
— |
|
|
(27,718 |
) |
Proceeds from sale of business, net of transaction costs |
198 |
|
|
— |
|
|
8,582 |
|
|
— |
|
|
8,780 |
|
Cash paid for business acquisitions, net of cash acquired |
— |
|
|
(1,732 |
) |
|
(20,594 |
) |
|
— |
|
|
(22,326 |
) |
Intercompany investment |
(100 |
) |
|
— |
|
|
— |
|
|
100 |
|
|
— |
|
Cash used in investing activities |
(2,357 |
) |
|
(5,587 |
) |
|
(51,988 |
) |
|
100 |
|
|
(59,832 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
Principal repayments on term loan |
(22,500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(22,500 |
) |
Stock option exercises, related tax benefits and other |
10,435 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,435 |
|
Taxes paid related to the net share settlement of equity awards |
(1,279 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,279 |
) |
Cash dividends |
(2,390 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,390 |
) |
Intercompany loan activity |
(5,954 |
) |
|
— |
|
|
5,954 |
|
|
— |
|
|
— |
|
Intercompany capital contribution |
— |
|
|
— |
|
|
100 |
|
|
(100 |
) |
|
— |
|
Cash (used in) provided by financing activities |
(21,688 |
) |
|
— |
|
|
6,054 |
|
|
(100 |
) |
|
(15,734 |
) |
Effect of exchange rate changes on cash |
— |
|
|
— |
|
|
(104 |
) |
|
— |
|
|
(104 |
) |
Net increase (decrease) in cash and cash equivalents |
1,806 |
|
|
— |
|
|
(41,887 |
) |
|
— |
|
|
(40,081 |
) |
Cash and cash equivalents—beginning of period |
34,982 |
|
|
— |
|
|
194,589 |
|
|
— |
|
|
229,571 |
|
Cash and cash equivalents—end of period |
$ |
36,788 |
|
|
$ |
— |
|
|
$ |
152,702 |
|
|
$ |
— |
|
|
$ |
189,490 |
|
|