XML 16 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jan. 31, 2022
Jan. 31, 2021
Cash flows from operating activities:    
Net income $ 510,438 $ 246,829
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 64,285 54,324
Amortization of intangible assets 76,563 56,630
Amortization of debt issuance costs 5,568 5,460
Deferred income tax (benefit) provision (13,317) (98)
(Gain) loss on disposition of property, plant and equipment 701 (196)
Stock-based compensation expense 12,986 13,058
Changes in assets and liabilities:    
Accounts receivable (165,085) (99,282)
Inventories, net (236,002) (425,026)
Prepaid income taxes, expenses and other 15,014 (39,226)
Accounts payable 32,848 112,131
Accrued liabilities 8,204 (25,114)
Long-term liabilities and other (14,151) 11,944
Net cash provided by (used in) operating activities 298,052 (88,566)
Cash flows from investing activities:    
Purchases of property, plant and equipment (117,804) (48,097)
Proceeds from dispositions of property, plant and equipment 652 1,084
Business acquisitions, net of cash acquired (781,818) (310,576)
Net cash used in investing activities (898,970) (357,589)
Cash flows from financing activities:    
Borrowings on revolving asset-based credit facilities 660,088 213,632
Payments on revolving asset-based credit facilities (534,035) 0
Proceeds from issuance of senior unsecured notes 500,000 0
Payments on term-loan credit facilities 0 (59,700)
Payments on other debt (5,965) (7,522)
Payments of debt issuance costs (8,445) 0
Regular cash dividends paid (47,833) (45,400)
Payments on finance lease obligations (529) (244)
Purchases of treasury shares (58,331) 0
Payments related to vesting of stock-based awards (18,011) (8,317)
Short-term financial obligations and other, net 3,821 (5,488)
Net cash provided by financing activities 490,760 86,961
Effect of exchange rate changes on cash and cash equivalents and restricted cash (8,225) 4,378
Net decrease in cash and cash equivalents and restricted cash (118,383) (354,816)
Cash and cash equivalents and restricted cash, beginning of period 448,706 541,363
Cash and cash equivalents and restricted cash, end of period 330,323 186,547
Cash and cash equivalents and restricted cash, total 330,323 186,547
Less: restricted cash 25,080 2,913
Cash and cash equivalents 305,243 183,634
Supplemental cash flow information:    
Income taxes paid 151,307 112,425
Interest paid 33,529 39,705
Non-cash investing and financing transactions:    
Capital expenditures in accounts payable $ 5,147 $ 3,422