XML 31 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Nov. 30, 2011
Nov. 30, 2010
Cash flows from operating activities:    
Net income $ 14,524 $ 12,340
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,542 24,176
Put option loss   952
Realized gain on redemption of trading securities   (952)
Remeasurement loss (gain) on foreign currency 75 (3)
Provision for losses on accounts receivable 132 169
Gain on sale of rental and lease equipment (4,948) (5,064)
Gain on bargain purchase, net of deferred taxes (3,382) (202)
Stock compensation expense 710 436
Excess tax benefit from share based compensation (50) (25)
Deferred income taxes 5,200 6,995
Changes in operating assets and liabilities:    
Accounts receivable (3,958) (2,789)
Other assets 205 (3,225)
Accounts payable (1,556) 20
Accrued expenses 156 (4,809)
Deferred revenue 654 45
Net cash provided by operating activities 34,304 28,064
Cash flows from investing activities:    
Proceeds from sale of rental and lease equipment 11,152 12,993
Cash paid for acquisition (10,625)  
Proceeds from acquisition purchase price adjustment   202
Payments for purchase of rental and lease equipment (53,773) (49,701)
Redemptions of investments, trading   14,275
Payments for purchase of other property (475) (535)
Net cash used in investing activities (53,721) (22,766)
Cash flows from financing activities:    
Proceeds from issuance of common stock   197
Excess tax benefit from share based compensation 50 25
Payment of dividends (9,653) (7,237)
Net cash used in financing activities (9,603) (7,015)
Net decrease in cash and cash equivalents (29,020) (1,717)
Effect of exchange rate changes on cash 109 (122)
Cash and cash equivalents at beginning of period 41,441 32,906
Cash and cash equivalents at end of period $ 12,530 $ 31,067