Guarantor Subsidiaries (Tables)
|
9 Months Ended |
May. 31, 2015 |
|---|
| 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 LOSS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2015 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
40,011 |
|
|
$ |
58,896 |
|
|
$ |
221,193 |
|
|
$ |
— |
|
|
$ |
320,100 |
|
Cost of products sold |
|
11,749 |
|
|
40,360 |
|
|
149,431 |
|
|
— |
|
|
201,540 |
|
Gross profit |
|
28,262 |
|
|
18,536 |
|
|
71,762 |
|
|
— |
|
|
118,560 |
|
Selling, administrative and engineering expenses |
|
16,560 |
|
|
11,228 |
|
|
41,781 |
|
|
— |
|
|
69,569 |
|
Amortization of intangible assets |
|
318 |
|
|
2,394 |
|
|
3,277 |
|
|
— |
|
|
5,989 |
|
Operating profit |
|
11,384 |
|
|
4,914 |
|
|
26,704 |
|
|
— |
|
|
43,002 |
|
Financing costs, net |
|
7,769 |
|
|
— |
|
|
(307 |
) |
|
— |
|
|
7,462 |
|
Intercompany expense (income), net |
|
(3,559 |
) |
|
(1,187 |
) |
|
4,746 |
|
|
— |
|
|
— |
|
Other expense, net |
|
123 |
|
|
27 |
|
|
419 |
|
|
— |
|
|
569 |
|
Earnings before income taxes |
|
7,051 |
|
|
6,074 |
|
|
21,846 |
|
|
— |
|
|
34,971 |
|
Income tax expense (benefit) |
|
(11,957 |
) |
|
914 |
|
|
8,056 |
|
|
— |
|
|
(2,987 |
) |
Net earnings before equity in earnings (loss) of subsidiaries |
|
19,008 |
|
|
5,160 |
|
|
13,790 |
|
|
— |
|
|
37,958 |
|
Equity in earnings (loss) of subsidiaries |
|
18,950 |
|
|
12,757 |
|
|
(340 |
) |
|
(31,367 |
) |
|
— |
|
Net earnings |
|
$ |
37,958 |
|
|
$ |
17,917 |
|
|
$ |
13,450 |
|
|
$ |
(31,367 |
) |
|
$ |
37,958 |
|
Comprehensive income |
|
$ |
27,259 |
|
|
$ |
13,244 |
|
|
$ |
7,930 |
|
|
$ |
(21,174 |
) |
|
$ |
27,259 |
|
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 taxes |
|
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 LOSS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2015 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
119,612 |
|
|
$ |
207,162 |
|
|
$ |
622,096 |
|
|
$ |
— |
|
|
$ |
948,870 |
|
Cost of products sold |
|
33,792 |
|
|
145,800 |
|
|
413,981 |
|
|
— |
|
|
593,573 |
|
Gross profit |
|
85,820 |
|
|
61,362 |
|
|
208,115 |
|
|
— |
|
|
355,297 |
|
Selling, administrative and engineering expenses |
|
52,062 |
|
|
45,062 |
|
|
130,685 |
|
|
— |
|
|
227,809 |
|
Amortization of intangible assets |
|
954 |
|
|
7,964 |
|
|
9,444 |
|
|
— |
|
|
18,362 |
|
Impairment charge |
|
— |
|
|
20,249 |
|
|
64,104 |
|
|
— |
|
|
84,353 |
|
Operating profit (loss) |
|
32,804 |
|
|
(11,913 |
) |
|
3,882 |
|
|
— |
|
|
24,773 |
|
Financing costs, net |
|
21,583 |
|
|
— |
|
|
(900 |
) |
|
— |
|
|
20,683 |
|
Intercompany expense (income), net |
|
(14,389 |
) |
|
896 |
|
|
13,493 |
|
|
— |
|
|
— |
|
Intercompany dividend income |
|
(212 |
) |
|
(243 |
) |
|
(31 |
) |
|
486 |
|
|
— |
|
Other expense (income), net |
|
342 |
|
|
(133 |
) |
|
(698 |
) |
|
— |
|
|
(489 |
) |
Earnings (loss) before income taxes |
|
25,480 |
|
|
(12,433 |
) |
|
(7,982 |
) |
|
(486 |
) |
|
4,579 |
|
Income tax expense (benefit) |
|
(8,133 |
) |
|
1,413 |
|
|
13,589 |
|
|
(84 |
) |
|
6,785 |
|
Net earnings (loss) before equity in earnings (loss) of subsidiaries |
|
33,613 |
|
|
(13,846 |
) |
|
(21,571 |
) |
|
(402 |
) |
|
(2,206 |
) |
Equity in earnings (loss) of subsidiaries |
|
(35,819 |
) |
|
(1,673 |
) |
|
177 |
|
|
37,315 |
|
|
— |
|
Net loss |
|
$ |
(2,206 |
) |
|
$ |
(15,519 |
) |
|
$ |
(21,394 |
) |
|
$ |
36,913 |
|
|
$ |
(2,206 |
) |
Comprehensive loss |
|
$ |
(132,616 |
) |
|
$ |
(58,603 |
) |
|
$ |
(80,728 |
) |
|
$ |
139,331 |
|
|
$ |
(132,616 |
) |
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 taxes |
|
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 Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 31, 2015 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
9,821 |
|
|
$ |
964 |
|
|
$ |
97,340 |
|
|
$ |
— |
|
|
$ |
108,125 |
|
Accounts receivable, net |
|
15,863 |
|
|
31,347 |
|
|
172,198 |
|
|
— |
|
|
219,408 |
|
Inventories, net |
|
25,373 |
|
|
34,098 |
|
|
95,725 |
|
|
— |
|
|
155,196 |
|
Deferred income taxes |
|
7,559 |
|
|
— |
|
|
2,989 |
|
|
— |
|
|
10,548 |
|
Other current assets |
|
37,391 |
|
|
1,681 |
|
|
25,600 |
|
|
— |
|
|
64,672 |
|
Total current assets |
|
96,007 |
|
|
68,090 |
|
|
393,852 |
|
|
— |
|
|
557,949 |
|
Property, plant and equipment, net |
|
6,851 |
|
|
20,902 |
|
|
120,692 |
|
|
— |
|
|
148,445 |
|
Goodwill |
|
38,847 |
|
|
175,045 |
|
|
398,340 |
|
|
— |
|
|
612,232 |
|
Other intangibles, net |
|
11,020 |
|
|
102,705 |
|
|
203,184 |
|
|
— |
|
|
316,909 |
|
Investment in subsidiaries |
|
2,056,121 |
|
|
1,076,426 |
|
|
31,019 |
|
|
(3,163,566 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
601,999 |
|
|
584,965 |
|
|
(1,186,964 |
) |
|
— |
|
Other long-term assets |
|
19,620 |
|
|
— |
|
|
5,863 |
|
|
— |
|
|
25,483 |
|
Total assets |
|
$ |
2,228,466 |
|
|
$ |
2,045,167 |
|
|
$ |
1,737,915 |
|
|
$ |
(4,350,530 |
) |
|
$ |
1,661,018 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
15,440 |
|
|
$ |
20,953 |
|
|
$ |
93,296 |
|
|
$ |
— |
|
|
$ |
129,689 |
|
Accrued compensation and benefits |
|
13,269 |
|
|
2,426 |
|
|
26,738 |
|
|
— |
|
|
42,433 |
|
Income taxes payable |
|
(273 |
) |
|
(550 |
) |
|
4,253 |
|
|
— |
|
|
3,430 |
|
Other current liabilities |
|
19,886 |
|
|
3,180 |
|
|
34,215 |
|
|
— |
|
|
57,281 |
|
Total current liabilities |
|
48,322 |
|
|
26,009 |
|
|
158,502 |
|
|
— |
|
|
232,833 |
|
Long-term debt, less current maturities |
|
600,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
600,000 |
|
Deferred income taxes |
|
48,635 |
|
|
— |
|
|
38,432 |
|
|
— |
|
|
87,067 |
|
Pension and postretirement benefit liabilities |
|
6,919 |
|
|
— |
|
|
6,052 |
|
|
— |
|
|
12,971 |
|
Other long-term liabilities |
|
44,927 |
|
|
2,090 |
|
|
7,825 |
|
|
— |
|
|
54,842 |
|
Intercompany payable |
|
806,358 |
|
|
— |
|
|
380,606 |
|
|
(1,186,964 |
) |
|
— |
|
Shareholders’ equity |
|
673,305 |
|
|
2,017,068 |
|
|
1,146,498 |
|
|
(3,163,566 |
) |
|
673,305 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,228,466 |
|
|
$ |
2,045,167 |
|
|
$ |
1,737,915 |
|
|
$ |
(4,350,530 |
) |
|
$ |
1,661,018 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 31, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
27,931 |
|
|
$ |
3,325 |
|
|
$ |
77,756 |
|
|
$ |
— |
|
|
$ |
109,012 |
|
Accounts receivable, net |
|
22,811 |
|
|
38,511 |
|
|
165,686 |
|
|
— |
|
|
227,008 |
|
Inventories, net |
|
31,024 |
|
|
38,860 |
|
|
92,736 |
|
|
— |
|
|
162,620 |
|
Deferred income taxes |
|
7,503 |
|
|
— |
|
|
3,547 |
|
|
— |
|
|
11,050 |
|
Other current assets |
|
3,871 |
|
|
1,057 |
|
|
28,372 |
|
|
— |
|
|
33,300 |
|
Total current assets |
|
93,140 |
|
|
81,753 |
|
|
368,097 |
|
|
— |
|
|
542,990 |
|
Property, plant and equipment, net |
|
9,096 |
|
|
22,879 |
|
|
137,126 |
|
|
— |
|
|
169,101 |
|
Goodwill |
|
44,700 |
|
|
280,693 |
|
|
417,377 |
|
|
— |
|
|
742,770 |
|
Other intangibles, net |
|
11,974 |
|
|
140,400 |
|
|
212,803 |
|
|
— |
|
|
365,177 |
|
Investment in subsidiaries |
|
2,286,068 |
|
|
806,414 |
|
|
237,207 |
|
|
(3,329,689 |
) |
|
— |
|
Intercompany receivable |
|
— |
|
|
678,073 |
|
|
622,818 |
|
|
(1,300,891 |
) |
|
— |
|
Other long-term assets |
|
23,432 |
|
|
— |
|
|
13,409 |
|
|
— |
|
|
36,841 |
|
Total assets |
|
$ |
2,468,410 |
|
|
$ |
2,010,212 |
|
|
$ |
2,008,837 |
|
|
$ |
(4,630,580 |
) |
|
$ |
1,856,879 |
|
LIABILITIES & SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
20,014 |
|
|
$ |
25,673 |
|
|
$ |
100,111 |
|
|
$ |
— |
|
|
$ |
145,798 |
|
Accrued compensation and benefits |
|
15,135 |
|
|
3,293 |
|
|
34,536 |
|
|
— |
|
|
52,964 |
|
Income taxes payable |
|
31,582 |
|
|
— |
|
|
6,765 |
|
|
— |
|
|
38,347 |
|
Current maturities of debt |
|
4,500 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,500 |
|
Other current liabilities |
|
19,081 |
|
|
3,989 |
|
|
34,442 |
|
|
— |
|
|
57,512 |
|
Total current liabilities |
|
90,312 |
|
|
32,955 |
|
|
175,854 |
|
|
— |
|
|
299,121 |
|
Long-term debt |
|
385,500 |
|
|
— |
|
|
— |
|
|
— |
|
|
385,500 |
|
Deferred income taxes |
|
47,543 |
|
|
— |
|
|
49,427 |
|
|
— |
|
|
96,970 |
|
Pension and postretirement benefit liabilities |
|
8,668 |
|
|
— |
|
|
7,031 |
|
|
— |
|
|
15,699 |
|
Other long-term liabilities |
|
42,647 |
|
|
4,138 |
|
|
11,093 |
|
|
— |
|
|
57,878 |
|
Intercompany payable |
|
892,029 |
|
|
— |
|
|
408,861 |
|
|
(1,300,890 |
) |
|
— |
|
Shareholders’ equity |
|
1,001,711 |
|
|
1,973,119 |
|
|
1,356,571 |
|
|
(3,329,690 |
) |
|
1,001,711 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,468,410 |
|
|
$ |
2,010,212 |
|
|
$ |
2,008,837 |
|
|
$ |
(4,630,580 |
) |
|
$ |
1,856,879 |
|
|
| Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2015 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
Cash provided by (used in) operating activities |
|
$ |
36,510 |
|
|
$ |
(39,865 |
) |
|
$ |
44,635 |
|
|
$ |
— |
|
|
$ |
41,280 |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
(880 |
) |
|
(3,495 |
) |
|
(12,859 |
) |
|
— |
|
|
(17,234 |
) |
Proceeds from sale of property, plant and equipment |
|
— |
|
|
203 |
|
|
683 |
|
|
— |
|
|
886 |
|
Intercompany investment |
|
(1,117 |
) |
|
— |
|
|
— |
|
|
1,117 |
|
|
— |
|
Cash used in investing activities |
|
(1,997 |
) |
|
(3,292 |
) |
|
(12,176 |
) |
|
1,117 |
|
|
(16,348 |
) |
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Proceeds from term loan |
|
213,375 |
|
|
— |
|
|
— |
|
|
— |
|
|
213,375 |
|
Debt issuance costs |
|
(1,875 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,875 |
) |
Principal repayments on term loan |
|
(3,375 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(3,375 |
) |
Purchase of treasury shares |
|
(204,627 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(204,627 |
) |
Intercompany loan activity |
|
(58,569 |
) |
|
40,796 |
|
|
17,773 |
|
|
— |
|
|
— |
|
Intercompany capital contribution |
|
— |
|
|
— |
|
|
1,117 |
|
|
(1,117 |
) |
|
— |
|
Stock option exercises, related tax benefits and other |
|
5,046 |
|
|
— |
|
|
— |
|
|
— |
|
|
5,046 |
|
Cash dividend |
|
(2,598 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,598 |
) |
Cash provided by (used in) financing activities |
|
(52,623 |
) |
|
40,796 |
|
|
18,890 |
|
|
(1,117 |
) |
|
5,946 |
|
Effect of exchange rate changes on cash |
|
— |
|
|
— |
|
|
(31,765 |
) |
|
— |
|
|
(31,765 |
) |
Net (decrease) increase in cash and cash equivalents |
|
(18,110 |
) |
|
(2,361 |
) |
|
19,584 |
|
|
— |
|
|
(887 |
) |
Cash and cash equivalents—beginning of period |
|
27,931 |
|
|
3,325 |
|
|
77,756 |
|
|
— |
|
|
109,012 |
|
Cash and cash equivalents—end of period |
|
$ |
9,821 |
|
|
$ |
964 |
|
|
$ |
97,340 |
|
|
$ |
— |
|
|
$ |
108,125 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2014 |
|
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Operating Activities |
|
|
|
|
|
|
|
|
|
|
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 business, net of transaction costs |
|
(4,586 |
) |
|
214,268 |
|
|
43,091 |
|
|
— |
|
|
252,773 |
|
Business acquisitions, net of cash acquired |
|
(30,500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(30,500 |
) |
Intercompany investment |
|
— |
|
|
(99,963 |
) |
|
— |
|
|
99,963 |
|
|
— |
|
Cash provided by (used in) investing activities |
|
(38,857 |
) |
|
111,231 |
|
|
60,133 |
|
|
99,963 |
|
|
232,470 |
|
Financing Activities |
|
|
|
|
|
|
|
|
|
|
Net repayments on revolver |
|
(125,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(125,000 |
) |
Purchase of treasury shares |
|
(183,152 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(183,152 |
) |
Intercompany loan activity |
|
313,748 |
|
|
(118,216 |
) |
|
(195,532 |
) |
|
— |
|
|
— |
|
Intercompany capital contribution |
|
— |
|
|
— |
|
|
99,963 |
|
|
(99,963 |
) |
|
— |
|
Stock option exercises, related tax benefits and other |
|
29,849 |
|
|
— |
|
|
— |
|
|
— |
|
|
29,849 |
|
Payment of contingent acquisition consideration |
|
— |
|
|
— |
|
|
(1,585 |
) |
|
— |
|
|
(1,585 |
) |
Cash dividend |
|
(2,919 |
) |
|
— |
|
|
(14,716 |
) |
|
14,716 |
|
|
(2,919 |
) |
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 |
|
|