Guarantor Subsidiaries (Tables)
|
6 Months Ended |
Feb. 28, 2014
|
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 EARNINGS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended February 28, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
43,595 |
|
|
$ |
75,203 |
|
|
$ |
208,972 |
|
|
$ |
— |
|
|
$ |
327,770 |
|
Cost of products sold |
|
11,992 |
|
|
52,009 |
|
|
139,322 |
|
|
— |
|
|
203,323 |
|
Gross profit |
|
31,603 |
|
|
23,194 |
|
|
69,650 |
|
|
— |
|
|
124,447 |
|
Selling, administrative and engineering expenses |
|
19,399 |
|
|
13,753 |
|
|
46,088 |
|
|
— |
|
|
79,240 |
|
Amortization of intangible assets |
|
318 |
|
|
2,576 |
|
|
3,332 |
|
|
— |
|
|
6,226 |
|
Operating profit |
|
11,886 |
|
|
6,865 |
|
|
20,230 |
|
|
— |
|
|
38,981 |
|
Financing costs, net |
|
6,499 |
|
|
— |
|
|
(237 |
) |
|
— |
|
|
6,262 |
|
Intercompany expense (income), net |
|
(12,153 |
) |
|
5,334 |
|
|
6,819 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
669 |
|
|
(125 |
) |
|
782 |
|
|
— |
|
|
1,326 |
|
Earnings from continuing operations before income tax expense |
|
16,871 |
|
|
1,656 |
|
|
12,866 |
|
|
— |
|
|
31,393 |
|
Income tax expense |
|
4,885 |
|
|
479 |
|
|
3,725 |
|
|
— |
|
|
9,089 |
|
Net earnings before equity in earnings (loss) of subsidiaries |
|
11,986 |
|
|
1,177 |
|
|
9,141 |
|
|
— |
|
|
22,304 |
|
Equity in earnings (loss) of subsidiaries |
|
50,097 |
|
|
(23,996 |
) |
|
867 |
|
|
(26,968 |
) |
|
— |
|
Earnings (loss) from continuing operations |
|
62,083 |
|
|
(22,819 |
) |
|
10,008 |
|
|
(26,968 |
) |
|
22,304 |
|
Earnings (loss) from discontinued operations, net of income taxes |
|
(20,691 |
) |
|
53,156 |
|
|
(13,377 |
) |
|
— |
|
|
19,088 |
|
Net earnings (loss) |
|
$ |
41,392 |
|
|
$ |
30,337 |
|
|
$ |
(3,369 |
) |
|
$ |
(26,968 |
) |
|
$ |
41,392 |
|
Comprehensive income (loss) |
|
$ |
45,789 |
|
|
$ |
34,943 |
|
|
$ |
(5,804 |
) |
|
$ |
(29,139 |
) |
|
$ |
45,789 |
|
CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended February 28, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
47,407 |
|
|
$ |
66,709 |
|
|
$ |
186,352 |
|
|
$ |
— |
|
|
$ |
300,468 |
|
Cost of products sold |
|
14,938 |
|
|
47,395 |
|
|
121,957 |
|
|
— |
|
|
184,290 |
|
Gross profit |
|
32,469 |
|
|
19,314 |
|
|
64,395 |
|
|
— |
|
|
116,178 |
|
Selling, administrative and engineering expenses |
|
17,842 |
|
|
14,623 |
|
|
40,874 |
|
|
— |
|
|
73,339 |
|
Amortization of intangible assets |
|
318 |
|
|
2,657 |
|
|
2,993 |
|
|
— |
|
|
5,968 |
|
Operating profit |
|
14,309 |
|
|
2,034 |
|
|
20,528 |
|
|
— |
|
|
36,871 |
|
Financing costs, net |
|
6,409 |
|
|
1 |
|
|
(150 |
) |
|
— |
|
|
6,260 |
|
Intercompany expense (income), net |
|
(4,651 |
) |
|
(876 |
) |
|
5,527 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
(384 |
) |
|
(53 |
) |
|
400 |
|
|
— |
|
|
(37 |
) |
Earnings from continuing operations before income tax expense (benefit) |
|
12,935 |
|
|
2,962 |
|
|
14,751 |
|
|
— |
|
|
30,648 |
|
Income tax expense (benefit) |
|
2,832 |
|
|
(785 |
) |
|
2,767 |
|
|
— |
|
|
4,814 |
|
Net earnings before equity in earnings (loss) of subsidiaries |
|
10,103 |
|
|
3,747 |
|
|
11,984 |
|
|
— |
|
|
25,834 |
|
Equity in earnings (loss) of subsidiaries |
|
18,684 |
|
|
10,765 |
|
|
(589 |
) |
|
(28,860 |
) |
|
— |
|
Earnings from continuing operations |
|
28,787 |
|
|
14,512 |
|
|
11,395 |
|
|
(28,860 |
) |
|
25,834 |
|
Earnings (loss) from discontinued operations, net of income taxes |
|
(352 |
) |
|
2,515 |
|
|
438 |
|
|
— |
|
|
2,601 |
|
Net earnings |
|
$ |
28,435 |
|
|
$ |
17,027 |
|
|
$ |
11,833 |
|
|
$ |
(28,860 |
) |
|
$ |
28,435 |
|
Comprehensive income |
|
$ |
16,464 |
|
|
$ |
4,840 |
|
|
$ |
12,009 |
|
|
$ |
(16,849 |
) |
|
$ |
16,464 |
|
CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended February 28, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
88,686 |
|
|
$ |
154,839 |
|
|
$ |
423,801 |
|
|
$ |
— |
|
|
$ |
667,326 |
|
Cost of products sold |
|
24,064 |
|
|
107,264 |
|
|
279,771 |
|
|
— |
|
|
411,099 |
|
Gross profit |
|
64,622 |
|
|
47,575 |
|
|
144,030 |
|
|
— |
|
|
256,227 |
|
Selling, administrative and engineering expenses |
|
36,257 |
|
|
29,705 |
|
|
95,196 |
|
|
— |
|
|
161,158 |
|
Amortization of intangible assets |
|
636 |
|
|
5,151 |
|
|
6,654 |
|
|
— |
|
|
12,441 |
|
Operating profit |
|
27,729 |
|
|
12,719 |
|
|
42,180 |
|
|
— |
|
|
82,628 |
|
Financing costs, net |
|
13,278 |
|
|
3 |
|
|
(269 |
) |
|
— |
|
|
13,012 |
|
Intercompany expense (income), net |
|
(17,150 |
) |
|
4,995 |
|
|
12,155 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
11,086 |
|
|
(418 |
) |
|
(8,201 |
) |
|
— |
|
|
2,467 |
|
Earnings from continuing operations before income tax expense |
|
20,515 |
|
|
8,139 |
|
|
38,495 |
|
|
— |
|
|
67,149 |
|
Income tax expense |
|
5,893 |
|
|
2,274 |
|
|
3,673 |
|
|
— |
|
|
11,840 |
|
Net earnings before equity in earnings (loss) of subsidiaries |
|
14,622 |
|
|
5,865 |
|
|
34,822 |
|
|
— |
|
|
55,309 |
|
Equity in earnings (loss) of subsidiaries |
|
84,319 |
|
|
(10,663 |
) |
|
4,067 |
|
|
(77,723 |
) |
|
— |
|
Earnings (loss) from continuing operations |
|
98,941 |
|
|
(4,798 |
) |
|
38,889 |
|
|
(77,723 |
) |
|
55,309 |
|
Earnings (loss) from discontinued operations, net of income taxes |
|
(21,512 |
) |
|
56,494 |
|
|
(12,862 |
) |
|
— |
|
|
22,120 |
|
Net Earnings |
|
$ |
77,429 |
|
|
$ |
51,696 |
|
|
$ |
26,027 |
|
|
$ |
(77,723 |
) |
|
$ |
77,429 |
|
Comprehensive income |
|
$ |
98,829 |
|
|
$ |
73,740 |
|
|
$ |
21,867 |
|
|
$ |
(95,607 |
) |
|
$ |
98,829 |
|
CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 28, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
93,245 |
|
|
$ |
136,899 |
|
|
$ |
378,133 |
|
|
$ |
— |
|
|
$ |
608,277 |
|
Cost of products sold |
|
27,347 |
|
|
95,698 |
|
|
244,686 |
|
|
— |
|
|
367,731 |
|
Gross profit |
|
65,898 |
|
|
41,201 |
|
|
133,447 |
|
|
— |
|
|
240,546 |
|
Selling, administrative and engineering expenses |
|
34,959 |
|
|
29,726 |
|
|
83,514 |
|
|
— |
|
|
148,199 |
|
Amortization of intangible assets |
|
639 |
|
|
5,314 |
|
|
6,049 |
|
|
— |
|
|
12,002 |
|
Operating profit |
|
30,300 |
|
|
6,161 |
|
|
43,884 |
|
|
— |
|
|
80,345 |
|
Financing costs, net |
|
12,767 |
|
|
6 |
|
|
(191 |
) |
|
— |
|
|
12,582 |
|
Intercompany expense (income), net |
|
(11,921 |
) |
|
1,079 |
|
|
10,842 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
(747 |
) |
|
(464 |
) |
|
1,818 |
|
|
— |
|
|
607 |
|
Earnings from continuing operations before income tax expense (benefit) |
|
30,201 |
|
|
5,540 |
|
|
31,415 |
|
|
— |
|
|
67,156 |
|
Income tax expense (benefit) |
|
6,008 |
|
|
(326 |
) |
|
5,089 |
|
|
— |
|
|
10,771 |
|
Net earnings before equity in earnings of subsidiaries |
|
24,193 |
|
|
5,866 |
|
|
26,326 |
|
|
— |
|
|
56,385 |
|
Equity in earnings of subsidiaries |
|
41,235 |
|
|
28,664 |
|
|
435 |
|
|
(70,334 |
) |
|
— |
|
Earnings from continuing operations |
|
65,428 |
|
|
34,530 |
|
|
26,761 |
|
|
(70,334 |
) |
|
56,385 |
|
Earnings (loss) from discontinued operations, net of income taxes |
|
$ |
(650 |
) |
|
$ |
5,378 |
|
|
$ |
3,665 |
|
|
$ |
— |
|
|
$ |
8,393 |
|
Net Earnings |
|
$ |
64,778 |
|
|
$ |
39,908 |
|
|
$ |
30,426 |
|
|
$ |
(70,334 |
) |
|
$ |
64,778 |
|
Comprehensive income |
|
$ |
64,982 |
|
|
$ |
33,698 |
|
|
$ |
38,028 |
|
|
$ |
(71,726 |
) |
|
$ |
64,982 |
|
|
Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
February 28, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
11,580 |
|
|
$ |
26 |
|
|
$ |
143,411 |
|
|
$ |
— |
|
|
$ |
155,017 |
|
Accounts receivable, net |
|
18,589 |
|
|
42,072 |
|
|
173,290 |
|
|
— |
|
|
233,951 |
|
Inventories, net |
|
32,100 |
|
|
45,070 |
|
|
87,824 |
|
|
— |
|
|
164,994 |
|
Deferred income taxes |
|
10,656 |
|
|
— |
|
|
5,670 |
|
|
— |
|
|
16,326 |
|
Other current assets |
|
10,187 |
|
|
1,126 |
|
|
18,803 |
|
|
— |
|
|
30,116 |
|
Total current assets |
|
83,112 |
|
|
88,294 |
|
|
428,998 |
|
|
— |
|
|
600,404 |
|
Property, plant and equipment, net |
|
8,288 |
|
|
22,342 |
|
|
177,549 |
|
|
— |
|
|
208,179 |
|
Goodwill |
|
62,543 |
|
|
264,502 |
|
|
422,737 |
|
|
— |
|
|
749,782 |
|
Other intangibles, net |
|
12,611 |
|
|
136,107 |
|
|
223,316 |
|
|
— |
|
|
372,034 |
|
Investment in subsidiaries |
|
2,213,047 |
|
|
751,730 |
|
|
222,605 |
|
|
(3,187,382 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
683,850 |
|
|
455,699 |
|
|
(1,139,549 |
) |
|
— |
|
Other long-term assets |
|
12,957 |
|
|
22 |
|
|
15,756 |
|
|
— |
|
|
28,735 |
|
Total assets |
|
$ |
2,392,558 |
|
|
$ |
1,946,847 |
|
|
$ |
1,946,660 |
|
|
$ |
(4,326,931 |
) |
|
$ |
1,959,134 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
20,342 |
|
|
$ |
29,988 |
|
|
$ |
103,396 |
|
|
$ |
— |
|
|
$ |
153,726 |
|
Accrued compensation and benefits |
|
10,439 |
|
|
3,183 |
|
|
32,202 |
|
|
— |
|
|
45,824 |
|
Current maturities of long-term debt |
|
2,250 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,250 |
|
Income taxes payable |
|
35,187 |
|
|
— |
|
|
(2,338 |
) |
|
— |
|
|
32,849 |
|
Other current liabilities |
|
20,101 |
|
|
9,930 |
|
|
33,615 |
|
|
— |
|
|
63,646 |
|
Total current liabilities |
|
88,319 |
|
|
43,101 |
|
|
166,875 |
|
|
— |
|
|
298,295 |
|
Long-term debt, less current maturities |
|
387,750 |
|
|
— |
|
|
— |
|
|
— |
|
|
387,750 |
|
Deferred income taxes |
|
42,124 |
|
|
— |
|
|
52,990 |
|
|
— |
|
|
95,114 |
|
Pension and postretirement benefit liabilities |
|
7,585 |
|
|
— |
|
|
4,698 |
|
|
— |
|
|
12,283 |
|
Other long-term liabilities |
|
51,657 |
|
|
110 |
|
|
12,824 |
|
|
— |
|
|
64,591 |
|
Intercompany payable |
|
714,022 |
|
|
— |
|
|
425,527 |
|
|
(1,139,549 |
) |
|
— |
|
Shareholders’ equity |
|
1,101,101 |
|
|
1,903,636 |
|
|
1,283,746 |
|
|
(3,187,382 |
) |
|
1,101,101 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,392,558 |
|
|
$ |
1,946,847 |
|
|
$ |
1,946,660 |
|
|
$ |
(4,326,931 |
) |
|
$ |
1,959,134 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 31, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
16,122 |
|
|
$ |
— |
|
|
$ |
87,864 |
|
|
$ |
— |
|
|
$ |
103,986 |
|
Accounts receivable, net |
|
20,471 |
|
|
40,343 |
|
|
158,261 |
|
|
— |
|
|
219,075 |
|
Inventories, net |
|
27,343 |
|
|
38,948 |
|
|
76,258 |
|
|
— |
|
|
142,549 |
|
Deferred income taxes |
|
13,002 |
|
|
— |
|
|
5,794 |
|
|
— |
|
|
18,796 |
|
Other current assets |
|
7,454 |
|
|
963 |
|
|
19,811 |
|
|
— |
|
|
28,228 |
|
Assets of discontinued operations |
|
— |
|
|
192,129 |
|
|
80,477 |
|
|
— |
|
|
272,606 |
|
Total current assets |
|
84,392 |
|
|
272,383 |
|
|
428,465 |
|
|
— |
|
|
785,240 |
|
Property, plant and equipment, net |
|
7,050 |
|
|
22,801 |
|
|
171,645 |
|
|
— |
|
|
201,496 |
|
Goodwill |
|
62,543 |
|
|
264,502 |
|
|
407,907 |
|
|
— |
|
|
734,952 |
|
Other intangibles, net |
|
13,247 |
|
|
141,258 |
|
|
222,187 |
|
|
— |
|
|
376,692 |
|
Investment in subsidiaries |
|
2,086,534 |
|
|
201,779 |
|
|
96,333 |
|
|
(2,384,646 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
480,633 |
|
|
360,620 |
|
|
(841,253 |
) |
|
— |
|
Other long-term assets |
|
12,654 |
|
|
22 |
|
|
8,276 |
|
|
— |
|
|
20,952 |
|
Total assets |
|
$ |
2,266,420 |
|
|
$ |
1,383,378 |
|
|
$ |
1,695,433 |
|
|
$ |
(3,225,899 |
) |
|
$ |
2,119,332 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
22,194 |
|
|
$ |
30,637 |
|
|
$ |
101,218 |
|
|
$ |
— |
|
|
$ |
154,049 |
|
Accrued compensation and benefits |
|
13,835 |
|
|
2,716 |
|
|
27,249 |
|
|
— |
|
|
43,800 |
|
Income taxes payable |
|
8,135 |
|
|
— |
|
|
5,879 |
|
|
— |
|
|
14,014 |
|
Other current liabilities |
|
21,268 |
|
|
4,630 |
|
|
31,001 |
|
|
— |
|
|
56,899 |
|
Liabilities of discontinued operations |
|
— |
|
|
23,466 |
|
|
29,614 |
|
|
— |
|
|
53,080 |
|
Total current liabilities |
|
65,432 |
|
|
61,449 |
|
|
194,961 |
|
|
— |
|
|
321,842 |
|
Long-term debt |
|
515,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
515,000 |
|
Deferred income taxes |
|
64,358 |
|
|
— |
|
|
51,507 |
|
|
— |
|
|
115,865 |
|
Pension and postretirement benefit liabilities |
|
16,267 |
|
|
— |
|
|
4,431 |
|
|
— |
|
|
20,698 |
|
Other long-term liabilities |
|
51,479 |
|
|
390 |
|
|
13,791 |
|
|
— |
|
|
65,660 |
|
Intercompany payable |
|
473,617 |
|
|
— |
|
|
367,636 |
|
|
(841,253 |
) |
|
— |
|
Shareholders’ equity |
|
1,080,267 |
|
|
1,321,539 |
|
|
1,063,107 |
|
|
(2,384,646 |
) |
|
1,080,267 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,266,420 |
|
|
$ |
1,383,378 |
|
|
$ |
1,695,433 |
|
|
$ |
(3,225,899 |
) |
|
$ |
2,119,332 |
|
|
Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 28, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
|
$ |
(223 |
) |
|
$ |
8,331 |
|
|
$ |
43,491 |
|
|
$ |
(14,716 |
) |
|
$ |
36,883 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment |
|
1 |
|
|
74 |
|
|
1,933 |
|
|
— |
|
|
2,008 |
|
Proceeds (loss) on sale of businesses, net of transaction costs |
|
(4,134 |
) |
|
214,268 |
|
|
33,252 |
|
|
— |
|
|
243,386 |
|
Intercompany investment |
|
— |
|
|
(99,963 |
) |
|
— |
|
|
99,963 |
|
|
— |
|
Capital expenditures |
|
(2,424 |
) |
|
(2,379 |
) |
|
(17,423 |
) |
|
— |
|
|
(22,226 |
) |
Net cash provided by (used in) investing activities |
|
(6,557 |
) |
|
112,000 |
|
|
17,762 |
|
|
99,963 |
|
|
223,168 |
|
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Net repayments on revolver |
|
(125,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(125,000 |
) |
Changes in receivables and payables to subsidiaries |
|
213,449 |
|
|
(120,305 |
) |
|
(93,144 |
) |
|
— |
|
|
— |
|
Intercompany capital contributions |
|
— |
|
|
— |
|
|
99,963 |
|
|
(99,963 |
) |
|
— |
|
Purchase of treasury shares |
|
(109,095 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(109,095 |
) |
Stock option exercises and related tax benefits |
|
25,803 |
|
|
— |
|
|
— |
|
|
— |
|
|
25,803 |
|
Payment of contingent acquisition consideration |
|
— |
|
|
— |
|
|
(753 |
) |
|
— |
|
|
(753 |
) |
Cash dividend |
|
(2,919 |
) |
|
— |
|
|
(14,716 |
) |
|
14,716 |
|
|
(2,919 |
) |
Net cash provided by (used in) financing activities |
|
2,238 |
|
|
(120,305 |
) |
|
(8,650 |
) |
|
(85,247 |
) |
|
(211,964 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
2,944 |
|
|
— |
|
|
2,944 |
|
Net increase (decrease) in cash and cash equivalents |
|
(4,542 |
) |
|
26 |
|
|
55,547 |
|
|
— |
|
|
51,031 |
|
Cash and cash equivalents—beginning of period |
|
16,122 |
|
|
— |
|
|
87,864 |
|
|
— |
|
|
103,986 |
|
Cash and cash equivalents—end of period |
|
$ |
11,580 |
|
|
$ |
26 |
|
|
$ |
143,411 |
|
|
$ |
— |
|
|
$ |
155,017 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 28, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
$ |
5,606 |
|
|
$ |
8,913 |
|
|
$ |
25,804 |
|
|
$ |
— |
|
|
$ |
40,323 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment |
|
562 |
|
|
74 |
|
|
541 |
|
|
— |
|
|
1,177 |
|
Capital expenditures |
|
(668 |
) |
|
(2,014 |
) |
|
(9,044 |
) |
|
— |
|
|
(11,726 |
) |
Business acquisitions, net of cash acquired |
|
— |
|
|
— |
|
|
(83 |
) |
|
— |
|
|
(83 |
) |
Net cash used in investing activities |
|
(106 |
) |
|
(1,940 |
) |
|
(8,586 |
) |
|
— |
|
|
(10,632 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Principal repayments of term loans |
|
(2,500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,500 |
) |
Intercompany loan activity |
|
(7,370 |
) |
|
(7,064 |
) |
|
14,434 |
|
|
— |
|
|
— |
|
Purchase of treasury shares |
|
(8,821 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(8,821 |
) |
Payment of contingent acquisition consideration |
|
(1,350 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,350 |
) |
Stock option exercises and related tax benefits |
|
10,772 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,772 |
|
Cash dividend |
|
(2,911 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,911 |
) |
Net cash provided by (used in) financing activities |
|
(12,180 |
) |
|
(7,064 |
) |
|
14,434 |
|
|
— |
|
|
(4,810 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(2,242 |
) |
|
— |
|
|
(2,242 |
) |
Net (decrease) increase in cash and cash equivalents |
|
(6,680 |
) |
|
(91 |
) |
|
29,410 |
|
|
— |
|
|
22,639 |
|
Cash and cash equivalents—beginning of period |
|
12,401 |
|
|
91 |
|
|
55,692 |
|
|
— |
|
|
68,184 |
|
Cash and cash equivalents—end of period |
|
$ |
5,721 |
|
|
$ |
— |
|
|
$ |
85,102 |
|
|
$ |
— |
|
|
$ |
90,823 |
|
|