|
Guarantor Subsidiaries (Tables)
|
9 Months Ended |
|
May 31, 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 OPERATIONS AND COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
54,219 |
|
|
$ |
84,870 |
|
|
$ |
239,098 |
|
|
$ |
— |
|
|
$ |
378,187 |
|
Cost of products sold |
|
14,841 |
|
|
58,152 |
|
|
156,644 |
|
|
— |
|
|
229,637 |
|
Gross profit |
|
39,378 |
|
|
26,718 |
|
|
82,454 |
|
|
— |
|
|
148,550 |
|
Selling, administrative and engineering expenses |
|
21,554 |
|
|
16,128 |
|
|
45,816 |
|
|
— |
|
|
83,498 |
|
Amortization of intangible assets |
|
318 |
|
|
2,575 |
|
|
3,379 |
|
|
— |
|
|
6,272 |
|
Operating profit |
|
17,506 |
|
|
8,015 |
|
|
33,259 |
|
|
— |
|
|
58,780 |
|
Financing costs, net |
|
6,122 |
|
|
— |
|
|
(190 |
) |
|
— |
|
|
5,932 |
|
Intercompany expense (income), net |
|
(5,620 |
) |
|
560 |
|
|
5,060 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
1,597 |
|
|
23 |
|
|
(1,000 |
) |
|
— |
|
|
620 |
|
Earnings before income tax expense |
|
15,407 |
|
|
7,432 |
|
|
29,389 |
|
|
— |
|
|
52,228 |
|
Income tax expense (benefit) |
|
(9,755 |
) |
|
2,306 |
|
|
9,120 |
|
|
— |
|
|
1,671 |
|
Net earnings before equity in earnings of subsidiaries |
|
25,162 |
|
|
5,126 |
|
|
20,269 |
|
|
— |
|
|
50,557 |
|
Equity in earnings of subsidiaries |
|
25,395 |
|
|
20,151 |
|
|
683 |
|
|
(46,229 |
) |
|
— |
|
Net earnings |
|
$ |
50,557 |
|
|
$ |
25,277 |
|
|
$ |
20,952 |
|
|
$ |
(46,229 |
) |
|
$ |
50,557 |
|
Comprehensive income |
|
$ |
50,729 |
|
|
$ |
25,621 |
|
|
$ |
20,970 |
|
|
$ |
(46,591 |
) |
|
$ |
50,729 |
|
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, net of income taxes |
|
(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
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended May 31, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
142,905 |
|
|
$ |
239,709 |
|
|
$ |
662,899 |
|
|
$ |
— |
|
|
$ |
1,045,513 |
|
Cost of products sold |
|
38,905 |
|
|
165,416 |
|
|
436,416 |
|
|
— |
|
|
640,737 |
|
Gross profit |
|
104,000 |
|
|
74,293 |
|
|
226,483 |
|
|
— |
|
|
404,776 |
|
Selling, administrative and engineering expenses |
|
57,811 |
|
|
45,833 |
|
|
141,011 |
|
|
— |
|
|
244,655 |
|
Amortization of intangible assets |
|
954 |
|
|
7,726 |
|
|
10,033 |
|
|
— |
|
|
18,713 |
|
Operating profit |
|
45,235 |
|
|
20,734 |
|
|
75,439 |
|
|
— |
|
|
141,408 |
|
Financing costs, net |
|
19,400 |
|
|
3 |
|
|
(459 |
) |
|
— |
|
|
18,944 |
|
Intercompany expense (income), net |
|
(22,770 |
) |
|
5,555 |
|
|
17,215 |
|
|
— |
|
|
— |
|
Other expense (income), net |
|
12,683 |
|
|
(395 |
) |
|
(9,201 |
) |
|
— |
|
|
3,087 |
|
Earnings from continuing operations before income tax expense |
|
35,922 |
|
|
15,571 |
|
|
67,884 |
|
|
— |
|
|
119,377 |
|
Income tax expense (benefit) |
|
(3,862 |
) |
|
4,580 |
|
|
12,793 |
|
|
— |
|
|
13,511 |
|
Net earnings before equity in earnings of subsidiaries |
|
39,784 |
|
|
10,991 |
|
|
55,091 |
|
|
— |
|
|
105,866 |
|
Equity in earnings of subsidiaries |
|
109,714 |
|
|
9,488 |
|
|
4,750 |
|
|
(123,952 |
) |
|
— |
|
Earnings from continuing operations |
|
149,498 |
|
|
20,479 |
|
|
59,841 |
|
|
(123,952 |
) |
|
105,866 |
|
Earnings (loss) from discontinued operations, net of income taxes |
|
(21,512 |
) |
|
56,494 |
|
|
(12,862 |
) |
|
— |
|
|
22,120 |
|
Net earnings |
|
$ |
127,986 |
|
|
$ |
76,973 |
|
|
$ |
46,979 |
|
|
$ |
(123,952 |
) |
|
$ |
127,986 |
|
Comprehensive income |
|
$ |
149,558 |
|
|
$ |
99,361 |
|
|
$ |
42,837 |
|
|
$ |
(142,198 |
) |
|
$ |
149,558 |
|
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, net of income taxes |
|
(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 Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 31, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
42,912 |
|
|
$ |
3,391 |
|
|
$ |
83,322 |
|
|
$ |
— |
|
|
$ |
129,625 |
|
Accounts receivable, net |
|
25,810 |
|
|
45,335 |
|
|
188,144 |
|
|
— |
|
|
259,289 |
|
Inventories, net |
|
30,729 |
|
|
46,009 |
|
|
94,820 |
|
|
— |
|
|
171,558 |
|
Deferred income taxes |
|
9,187 |
|
|
— |
|
|
5,668 |
|
|
— |
|
|
14,855 |
|
Other current assets |
|
7,498 |
|
|
1,130 |
|
|
21,375 |
|
|
— |
|
|
30,003 |
|
Total current assets |
|
116,136 |
|
|
95,865 |
|
|
393,329 |
|
|
— |
|
|
605,330 |
|
Property, plant and equipment, net |
|
9,059 |
|
|
23,463 |
|
|
137,931 |
|
|
— |
|
|
170,453 |
|
Goodwill |
|
62,543 |
|
|
278,144 |
|
|
425,301 |
|
|
— |
|
|
765,988 |
|
Other intangibles, net |
|
12,292 |
|
|
144,081 |
|
|
219,876 |
|
|
— |
|
|
376,249 |
|
Investment in subsidiaries |
|
2,245,305 |
|
|
811,391 |
|
|
223,423 |
|
|
(3,280,119 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
661,143 |
|
|
579,314 |
|
|
(1,240,457 |
) |
|
— |
|
Other long-term assets |
|
14,176 |
|
|
22 |
|
|
15,487 |
|
|
— |
|
|
29,685 |
|
Total assets |
|
$ |
2,459,511 |
|
|
$ |
2,014,109 |
|
|
$ |
1,994,661 |
|
|
$ |
(4,520,576 |
) |
|
$ |
1,947,705 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
20,173 |
|
|
$ |
31,621 |
|
|
$ |
117,203 |
|
|
$ |
— |
|
|
$ |
168,997 |
|
Accrued compensation and benefits |
|
12,252 |
|
|
3,372 |
|
|
34,965 |
|
|
— |
|
|
50,589 |
|
Current maturities of long-term debt |
|
3,375 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,375 |
|
Income taxes payable |
|
12,469 |
|
|
— |
|
|
(3,066 |
) |
|
— |
|
|
9,403 |
|
Other current liabilities |
|
23,059 |
|
|
6,451 |
|
|
32,677 |
|
|
— |
|
|
62,187 |
|
Total current liabilities |
|
71,328 |
|
|
41,444 |
|
|
181,779 |
|
|
— |
|
|
294,551 |
|
Long-term debt, less current maturities |
|
386,625 |
|
|
— |
|
|
— |
|
|
— |
|
|
386,625 |
|
Deferred income taxes |
|
42,575 |
|
|
— |
|
|
52,285 |
|
|
— |
|
|
94,860 |
|
Pension and postretirement benefit liabilities |
|
6,942 |
|
|
— |
|
|
4,343 |
|
|
— |
|
|
11,285 |
|
Other long-term liabilities |
|
61,903 |
|
|
1,592 |
|
|
11,736 |
|
|
— |
|
|
75,231 |
|
Intercompany payable |
|
804,985 |
|
|
— |
|
|
435,475 |
|
|
(1,240,460 |
) |
|
— |
|
Shareholders’ equity |
|
1,085,153 |
|
|
1,971,073 |
|
|
1,309,043 |
|
|
(3,280,116 |
) |
|
1,085,153 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,459,511 |
|
|
$ |
2,014,109 |
|
|
$ |
1,994,661 |
|
|
$ |
(4,520,576 |
) |
|
$ |
1,947,705 |
|
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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
$ |
33,121 |
|
|
$ |
10,376 |
|
|
$ |
44,405 |
|
|
$ |
(14,716 |
) |
|
$ |
73,186 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
(3,823 |
) |
|
(3,558 |
) |
|
(26,458 |
) |
|
— |
|
|
(33,839 |
) |
Proceeds from sale of property, plant and equipment |
|
52 |
|
|
484 |
|
|
43,500 |
|
|
— |
|
|
44,036 |
|
Proceeds from sale of businesses, net of transaction costs |
|
(4,586 |
) |
|
214,268 |
|
|
43,091 |
|
|
— |
|
|
252,773 |
|
Intercompany investment |
|
— |
|
|
(99,963 |
) |
|
— |
|
|
99,963 |
|
|
— |
|
Business acquisitions, net of cash acquired |
|
(30,500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(30,500 |
) |
Net cash provided by (used in) investing activities |
|
(38,857 |
) |
|
111,231 |
|
|
60,133 |
|
|
99,963 |
|
|
232,470 |
|
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Intercompany loan activity |
|
313,748 |
|
|
(118,216 |
) |
|
(195,532 |
) |
|
— |
|
|
— |
|
Net repayments on revolver |
|
(125,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(125,000 |
) |
Intercompany capital contribution |
|
— |
|
|
— |
|
|
99,963 |
|
|
(99,963 |
) |
|
— |
|
Purchase of treasury shares |
|
(183,152 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(183,152 |
) |
Payment of contingent acquisition consideration |
|
— |
|
|
— |
|
|
(1,585 |
) |
|
— |
|
|
(1,585 |
) |
Stock option exercises and related tax benefits |
|
29,849 |
|
|
— |
|
|
— |
|
|
— |
|
|
29,849 |
|
Cash dividend |
|
(2,919 |
) |
|
— |
|
|
(14,716 |
) |
|
14,716 |
|
|
(2,919 |
) |
Net cash provided by (used in) financing activities |
|
32,526 |
|
|
(118,216 |
) |
|
(111,870 |
) |
|
(85,247 |
) |
|
(282,807 |
) |
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
2,790 |
|
|
— |
|
|
2,790 |
|
Net increase (decrease) in cash and cash equivalents |
|
26,790 |
|
|
3,391 |
|
|
(4,542 |
) |
|
— |
|
|
25,639 |
|
Cash and cash equivalents—beginning of period |
|
16,122 |
|
|
— |
|
|
87,864 |
|
|
— |
|
|
103,986 |
|
Cash and cash equivalents—end of period |
|
$ |
42,912 |
|
|
$ |
3,391 |
|
|
$ |
83,322 |
|
|
$ |
— |
|
|
$ |
129,625 |
|
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 |
|
Capital expenditures |
|
(1,387 |
) |
|
(3,461 |
) |
|
(14,047 |
) |
|
— |
|
|
(18,895 |
) |
Proceeds from sale of business |
|
— |
|
|
— |
|
|
4,854 |
|
|
— |
|
|
4,854 |
|
Business acquisitions, net of cash acquired |
|
— |
|
|
— |
|
|
(83 |
) |
|
— |
|
|
(83 |
) |
Cash used in investing activities |
|
(833 |
) |
|
(3,386 |
) |
|
(8,588 |
) |
|
— |
|
|
(12,807 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Principal repayments of term loans |
|
(5,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(5,000 |
) |
Intercompany loan activity |
|
(42,904 |
) |
|
(24,897 |
) |
|
67,801 |
|
|
— |
|
|
— |
|
Purchase of treasury shares |
|
(13,670 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13,670 |
) |
Payment of contingent acquisition consideration |
|
(1,350 |
) |
|
— |
|
|
(2,202 |
) |
|
— |
|
|
(3,552 |
) |
Stock option exercises and related tax benefits |
|
18,705 |
|
|
— |
|
|
— |
|
|
— |
|
|
18,705 |
|
Cash dividend |
|
(2,911 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,911 |
) |
Cash provided by (used in) financing activities |
|
(47,130 |
) |
|
(24,897 |
) |
|
65,599 |
|
|
— |
|
|
(6,428 |
) |
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 |
|
|