XML 19 R5.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2021
Oct. 31, 2020
Cash flows from operating activities:    
Net income $ 244,803 $ 115,639
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 31,739 26,812
Amortization of intangible assets 33,214 27,427
Amortization of debt issuance costs 2,424 2,723
Deferred income tax (benefit) provision (5,253) 4,601
(Gain) loss on disposition of property, plant and equipment 629 (79)
Stock-based compensation expense 6,027 5,768
Changes in assets and liabilities:    
Accounts receivable (167,685) (36,495)
Inventories, net (236,915) (322,047)
Prepaid income taxes, expenses and other 4,729 (14,857)
Accounts payable 71,613 127,585
Accrued liabilities 50,016 (20,601)
Long-term liabilities and other 6,451 2,234
Net cash provided by (used in) operating activities 41,792 (81,290)
Cash flows from investing activities:    
Purchases of property, plant and equipment (43,224) (24,708)
Proceeds from dispositions of property, plant and equipment 141 975
Business acquisitions, net of cash acquired (747,937) (22,700)
Net cash used in investing activities (791,020) (46,433)
Cash flows from financing activities:    
Borrowings on revolving asset-based credit facilities 660,088 0
Payments on revolving asset-based credit facilities (500,000) 0
Proceeds from issuance of senior unsecured notes 500,000 0
Payments on term-loan credit facilities 0 (59,700)
Payments on other debt (1,959) (3,096)
Payments of debt issuance costs (8,445) 0
Payments on finance lease obligations (262) (119)
Short-term financial obligations and other, net (5,825) (5,580)
Net cash provided by (used in) financing activities 643,597 (68,495)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (3,778) (4,935)
Net decrease in cash and cash equivalents and restricted cash (109,409) (201,153)
Cash and cash equivalents and restricted cash, beginning of period 448,706 541,363
Cash and cash equivalents and restricted cash, end of period 339,297 340,210
Less: restricted cash 3,060 2,808
Cash and cash equivalents 336,237 337,402
Supplemental cash flow information:    
Income taxes paid 17,956 48,788
Interest paid 16,868 18,207
Non-cash investing and financing transactions:    
Capital expenditures in accounts payable 4,320 1,602
Quarterly dividends payable $ 23,917 $ 22,700