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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Cash flows from operating activities:    
Net income $ 115,639 $ 51,845
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 26,812 25,914
Amortization of intangible assets 27,427 24,293
Amortization of debt issuance costs 2,723 2,685
Deferred income tax provision 4,601 2,318
(Gain) loss on disposition of property, plant and equipment (79) 619
Stock-based compensation expense 5,768 5,013
Changes in assets and liabilities:    
Accounts receivable (36,495) (65,307)
Inventories, net (322,047) (82,152)
Prepaid income taxes, expenses and other (14,857) 6,649
Accounts payable 127,585 19,639
Accrued liabilities (20,601) (46,593)
Long-term liabilities and other 2,234 3,080
Net cash used in operating activities (81,290) (51,997)
Cash flows from investing activities:    
Purchases of property, plant and equipment (24,708) (31,220)
Proceeds from dispositions of property, plant and equipment 975 18,951
Business acquisitions, net of cash acquired (22,700) 0
Other 0 (1,534)
Net cash used in investing activities (46,433) (13,803)
Cash flows from financing activities:    
Borrowings on revolving asset-based credit facilities 0 41,569
Payments on term-loan credit facilities (59,700) (140,181)
Payments on revolving asset-based credit facilities 0 (5,577)
Payments on other debt (3,096) (3,001)
Payments on finance lease obligations (119) (107)
Short-term financial obligations and other, net (5,580) (7,477)
Net cash used in financing activities (68,495) (114,774)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (4,935) (206)
Net decrease in cash and cash equivalents and restricted cash (201,153) (180,780)
Cash and cash equivalents and restricted cash, beginning of period 541,363 451,262
Cash and cash equivalents and restricted cash, end of period 340,210 270,482
Less: restricted cash 2,808 38,704
Cash and cash equivalents 337,402 231,778
Supplemental cash flow information:    
Income taxes paid 48,788 24,512
Interest paid 18,207 25,592
Non-cash investing and financing transactions:    
Capital expenditures in accounts payable 1,602 3,137
Quarterly dividends payable $ 22,700 $ 22,080