|
Guarantor Subsidiaries (Tables)
|
6 Months Ended |
|
Feb. 28, 2013
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Condensed Consolidating Statements of Earnings and Comprehensive Income |
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 |
|
|
$ |
121,600 |
|
|
$ |
201,363 |
|
|
$ |
— |
|
|
$ |
370,370 |
|
Cost of products sold |
|
14,938 |
|
|
87,004 |
|
|
128,869 |
|
|
— |
|
|
230,811 |
|
Gross profit |
|
32,469 |
|
|
34,596 |
|
|
72,494 |
|
|
— |
|
|
139,559 |
|
Selling, administrative and engineering expenses |
|
18,527 |
|
|
24,376 |
|
|
47,074 |
|
|
— |
|
|
89,977 |
|
Amortization of intangible assets |
|
318 |
|
|
3,282 |
|
|
4,038 |
|
|
— |
|
|
7,638 |
|
Operating profit |
|
13,624 |
|
|
6,938 |
|
|
21,382 |
|
|
— |
|
|
41,944 |
|
Financing costs, net |
|
6,409 |
|
|
1 |
|
|
(150 |
) |
|
— |
|
|
6,260 |
|
Intercompany expense (income), net |
|
(4,651 |
) |
|
(876 |
) |
|
5,527 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
(383 |
) |
|
(53 |
) |
|
400 |
|
|
— |
|
|
(36 |
) |
Earnings before income tax expense |
|
12,249 |
|
|
7,866 |
|
|
15,605 |
|
|
— |
|
|
35,720 |
|
Income tax expense |
|
2,498 |
|
|
1,604 |
|
|
3,183 |
|
|
— |
|
|
7,285 |
|
Net earnings before equity in earnings of subsidiaries |
|
9,751 |
|
|
6,262 |
|
|
12,422 |
|
|
— |
|
|
28,435 |
|
Equity in earnings of subsidiaries |
|
18,684 |
|
|
10,765 |
|
|
(589 |
) |
|
(28,860 |
) |
|
— |
|
Net earnings |
|
$ |
28,435 |
|
|
$ |
17,027 |
|
|
$ |
11,833 |
|
|
$ |
(28,860 |
) |
|
$ |
28,435 |
|
Comprehensive income |
|
$ |
16,464 |
|
|
$ |
4,840 |
|
|
$ |
12,009 |
|
|
$ |
(16,849 |
) |
|
$ |
16,464 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended February 29, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
49,514 |
|
|
$ |
137,431 |
|
|
$ |
191,079 |
|
|
$ |
— |
|
|
$ |
378,024 |
|
Cost of products sold |
|
17,114 |
|
|
97,651 |
|
|
121,967 |
|
|
— |
|
|
236,732 |
|
Gross profit |
|
32,400 |
|
|
39,780 |
|
|
69,112 |
|
|
— |
|
|
141,292 |
|
Selling, administrative and engineering expenses |
|
19,660 |
|
|
26,612 |
|
|
38,491 |
|
|
— |
|
|
84,763 |
|
Amortization of intangible assets |
|
335 |
|
|
3,411 |
|
|
3,327 |
|
|
— |
|
|
7,073 |
|
Operating profit |
|
12,405 |
|
|
9,757 |
|
|
27,294 |
|
|
— |
|
|
49,456 |
|
Financing costs, net |
|
8,035 |
|
|
5 |
|
|
(219 |
) |
|
— |
|
|
7,821 |
|
Intercompany expense (income), net |
|
(8,682 |
) |
|
1,733 |
|
|
6,949 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
822 |
|
|
1,330 |
|
|
(2,323 |
) |
|
— |
|
|
(171 |
) |
Earnings before income tax expense |
|
12,230 |
|
|
6,689 |
|
|
22,887 |
|
|
— |
|
|
41,806 |
|
Income tax expense |
|
2,818 |
|
|
1,541 |
|
|
5,272 |
|
|
— |
|
|
9,631 |
|
Net earnings before equity in earnings of subsidiaries |
|
9,412 |
|
|
5,148 |
|
|
17,615 |
|
|
— |
|
|
32,175 |
|
Equity in earnings of subsidiaries |
|
22,763 |
|
|
17,819 |
|
|
1,926 |
|
|
(42,508 |
) |
|
— |
|
Net earnings |
|
$ |
32,175 |
|
|
$ |
22,967 |
|
|
$ |
19,541 |
|
|
$ |
(42,508 |
) |
|
$ |
32,175 |
|
Comprehensive income |
|
$ |
35,937 |
|
|
$ |
24,589 |
|
|
$ |
22,041 |
|
|
$ |
(46,630 |
) |
|
$ |
35,937 |
|
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 |
|
|
$ |
245,717 |
|
|
$ |
408,656 |
|
|
$ |
— |
|
|
$ |
747,618 |
|
Cost of products sold |
|
27,346 |
|
|
174,872 |
|
|
258,855 |
|
|
— |
|
|
461,073 |
|
Gross profit |
|
65,899 |
|
|
70,845 |
|
|
149,801 |
|
|
— |
|
|
286,545 |
|
Selling, administrative and engineering expenses |
|
35,980 |
|
|
49,416 |
|
|
92,411 |
|
|
— |
|
|
177,807 |
|
Amortization of intangible assets |
|
639 |
|
|
6,731 |
|
|
8,122 |
|
|
— |
|
|
15,492 |
|
Operating profit |
|
29,280 |
|
|
14,698 |
|
|
49,268 |
|
|
— |
|
|
93,246 |
|
Financing costs, net |
|
12,767 |
|
|
6 |
|
|
(191 |
) |
|
— |
|
|
12,582 |
|
Intercompany expense (income), net |
|
(11,921 |
) |
|
1,079 |
|
|
10,842 |
|
|
— |
|
|
— |
|
Other expense, net |
|
(747 |
) |
|
(369 |
) |
|
1,444 |
|
|
— |
|
|
328 |
|
Earnings before income tax expense |
|
29,181 |
|
|
13,982 |
|
|
37,173 |
|
|
— |
|
|
80,336 |
|
Income tax expense |
|
5,638 |
|
|
2,738 |
|
|
7,182 |
|
|
— |
|
|
15,558 |
|
Net earnings before equity in earnings of subsidiaries |
|
23,543 |
|
|
11,244 |
|
|
29,991 |
|
|
— |
|
|
64,778 |
|
Equity in earnings of subsidiaries |
|
41,235 |
|
|
28,664 |
|
|
435 |
|
|
(70,334 |
) |
|
— |
|
Net earnings |
|
$ |
64,778 |
|
|
$ |
39,908 |
|
|
$ |
30,426 |
|
|
$ |
(70,334 |
) |
|
$ |
64,778 |
|
Comprehensive income |
|
$ |
64,982 |
|
|
$ |
33,698 |
|
|
$ |
38,028 |
|
|
$ |
(71,726 |
) |
|
$ |
64,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 29, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
98,034 |
|
|
$ |
273,872 |
|
|
$ |
398,917 |
|
|
$ |
— |
|
|
$ |
770,823 |
|
Cost of products sold |
|
32,393 |
|
|
192,283 |
|
|
252,247 |
|
|
— |
|
|
476,923 |
|
Gross profit |
|
65,641 |
|
|
81,589 |
|
|
146,670 |
|
|
— |
|
|
293,900 |
|
Selling, administrative and engineering expenses |
|
40,326 |
|
|
52,874 |
|
|
79,672 |
|
|
— |
|
|
172,872 |
|
Amortization of intangible assets |
|
670 |
|
|
6,831 |
|
|
6,790 |
|
|
— |
|
|
14,291 |
|
Operating profit |
|
24,645 |
|
|
21,884 |
|
|
60,208 |
|
|
— |
|
|
106,737 |
|
Financing costs, net |
|
16,272 |
|
|
8 |
|
|
(237 |
) |
|
— |
|
|
16,043 |
|
Intercompany expense (income), net |
|
(16,173 |
) |
|
2,299 |
|
|
13,874 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
1,015 |
|
|
1,674 |
|
|
(2,203 |
) |
|
— |
|
|
486 |
|
Earnings before income tax expense |
|
23,531 |
|
|
17,903 |
|
|
48,774 |
|
|
— |
|
|
90,208 |
|
Income tax expense |
|
5,440 |
|
|
4,142 |
|
|
11,277 |
|
|
— |
|
|
20,859 |
|
Net earnings before equity in earnings of subsidiaries |
|
18,091 |
|
|
13,761 |
|
|
37,497 |
|
|
— |
|
|
69,349 |
|
Equity in earnings of subsidiaries |
|
51,258 |
|
|
34,613 |
|
|
1,438 |
|
|
(87,309 |
) |
|
— |
|
Net earnings |
|
$ |
69,349 |
|
|
$ |
48,374 |
|
|
$ |
38,935 |
|
|
$ |
(87,309 |
) |
|
$ |
69,349 |
|
Comprehensive income |
|
$ |
40,725 |
|
|
$ |
32,928 |
|
|
$ |
33,362 |
|
|
$ |
(66,290 |
) |
|
$ |
40,725 |
|
|
| Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
February 28, 2013 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
5,721 |
|
|
$ |
— |
|
|
$ |
85,102 |
|
|
$ |
— |
|
|
$ |
90,823 |
|
Accounts receivable, net |
|
19,233 |
|
|
71,033 |
|
|
148,335 |
|
|
— |
|
|
238,601 |
|
Inventories, net |
|
29,981 |
|
|
78,581 |
|
|
108,978 |
|
|
— |
|
|
217,540 |
|
Deferred income taxes |
|
18,827 |
|
|
— |
|
|
4,777 |
|
|
— |
|
|
23,604 |
|
Other current assets |
|
7,616 |
|
|
1,585 |
|
|
15,661 |
|
|
— |
|
|
24,862 |
|
Total current assets |
|
81,378 |
|
|
151,199 |
|
|
362,853 |
|
|
— |
|
|
595,430 |
|
Property, plant & equipment, net |
|
6,659 |
|
|
29,709 |
|
|
77,756 |
|
|
— |
|
|
114,124 |
|
Goodwill |
|
62,543 |
|
|
432,751 |
|
|
371,391 |
|
|
— |
|
|
866,685 |
|
Other intangibles, net |
|
13,883 |
|
|
199,463 |
|
|
217,481 |
|
|
— |
|
|
430,827 |
|
Investment in subsidiaries |
|
1,927,053 |
|
|
268,708 |
|
|
91,270 |
|
|
(2,287,031 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
425,574 |
|
|
295,365 |
|
|
(720,939 |
) |
|
— |
|
Other long-term assets |
|
11,460 |
|
|
22 |
|
|
5,283 |
|
|
— |
|
|
16,765 |
|
Total assets |
|
$ |
2,102,976 |
|
|
$ |
1,507,426 |
|
|
$ |
1,421,399 |
|
|
$ |
(3,007,970 |
) |
|
$ |
2,023,831 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
16,738 |
|
|
$ |
37,731 |
|
|
$ |
99,345 |
|
|
$ |
— |
|
|
$ |
153,814 |
|
Accrued compensation and benefits |
|
13,161 |
|
|
5,288 |
|
|
26,848 |
|
|
— |
|
|
45,297 |
|
Current maturities of debt |
|
10,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,000 |
|
Income taxes payable |
|
3,688 |
|
|
— |
|
|
(836 |
) |
|
— |
|
|
2,852 |
|
Other current liabilities |
|
13,910 |
|
|
10,325 |
|
|
34,331 |
|
|
— |
|
|
58,566 |
|
Total current liabilities |
|
57,497 |
|
|
53,344 |
|
|
159,688 |
|
|
— |
|
|
270,529 |
|
Long-term debt |
|
385,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
385,000 |
|
Deferred income taxes |
|
88,773 |
|
|
— |
|
|
40,307 |
|
|
— |
|
|
129,080 |
|
Pension and postretirement benefit liabilities |
|
22,195 |
|
|
— |
|
|
3,942 |
|
|
— |
|
|
26,137 |
|
Other long-term liabilities |
|
61,590 |
|
|
475 |
|
|
26,752 |
|
|
— |
|
|
88,817 |
|
Intercompany payable |
|
363,653 |
|
|
— |
|
|
357,286 |
|
|
(720,939 |
) |
|
— |
|
Shareholders’ equity |
|
1,124,268 |
|
|
1,453,607 |
|
|
833,424 |
|
|
(2,287,031 |
) |
|
1,124,268 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,102,976 |
|
|
$ |
1,507,426 |
|
|
$ |
1,421,399 |
|
|
$ |
(3,007,970 |
) |
|
$ |
2,023,831 |
|
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 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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
(1,350 |
) |
|
— |
|
|
(83 |
) |
|
— |
|
|
(1,433 |
) |
Cash used in investing activities |
|
(1,456 |
) |
|
(1,940 |
) |
|
(8,586 |
) |
|
— |
|
|
(11,982 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Principal repayments on term loan |
|
(2,500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,500 |
) |
Intercompany loan activity |
|
(7,370 |
) |
|
(7,064 |
) |
|
14,434 |
|
|
— |
|
|
— |
|
Purchase of treasury shares |
|
(8,821 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(8,821 |
) |
Stock option exercises, related tax benefits and other |
|
10,772 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,772 |
|
Cash dividend |
|
(2,911 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,911 |
) |
Cash provided by (used in) financing activities |
|
(10,830 |
) |
|
(7,064 |
) |
|
14,434 |
|
|
— |
|
|
(3,460 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(2,242 |
) |
|
— |
|
|
(2,242 |
) |
Net increase (decrease) 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 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 29, 2012 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
|
$ |
(495 |
) |
|
$ |
12,656 |
|
|
$ |
39,840 |
|
|
$ |
— |
|
|
$ |
52,001 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment |
|
1,541 |
|
|
113 |
|
|
6,121 |
|
|
— |
|
|
7,775 |
|
Capital expenditures |
|
(3,142 |
) |
|
(1,699 |
) |
|
(5,611 |
) |
|
— |
|
|
(10,452 |
) |
Business acquisitions, net of cash acquired |
|
(290 |
) |
|
— |
|
|
(18,617 |
) |
|
— |
|
|
(18,907 |
) |
Cash (used in) provided by investing activities |
|
(1,891 |
) |
|
(1,586 |
) |
|
(18,107 |
) |
|
— |
|
|
(21,584 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Net borrowings on revolving credit facilities |
|
10 |
|
|
— |
|
|
(177 |
) |
|
— |
|
|
(167 |
) |
Intercompany loan activity |
|
24,565 |
|
|
(11,070 |
) |
|
(13,495 |
) |
|
— |
|
|
— |
|
Purchase of treasury shares |
|
(20,410 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(20,410 |
) |
Stock option exercises and related tax benefits |
|
5,507 |
|
|
— |
|
|
— |
|
|
— |
|
|
5,507 |
|
Cash dividend |
|
(2,748 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,748 |
) |
Cash (used in) provided by financing activities |
|
6,924 |
|
|
(11,070 |
) |
|
(13,672 |
) |
|
— |
|
|
(17,818 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
1,625 |
|
|
— |
|
|
1,625 |
|
Net (decrease) increase in cash and cash equivalents |
|
4,538 |
|
|
— |
|
|
9,686 |
|
|
— |
|
|
14,224 |
|
Cash and cash equivalents—beginning of period |
|
872 |
|
|
— |
|
|
43,349 |
|
|
— |
|
|
44,221 |
|
Cash and cash equivalents—end of period |
|
$ |
5,410 |
|
|
$ |
— |
|
|
$ |
53,035 |
|
|
$ |
— |
|
|
$ |
58,445 |
|
|