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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:      
Net earnings $ 81,039 $ 92,136 $ 53,703
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 40,050 37,755 32,229
Stock compensation expense 5,353 5,218 5,444
Changes in assets and liabilities (9,944) (10,315) (17,889)
Change in property, plant and equipment from gain on building sale (8,922) 0 0
Effect of deferred taxes on tax provision 61 (21,584) 1,360
Pension contributions (2,500) (9,951) (2,677)
Other 0 0 (4,830)
Net cash provided by operating activities 105,137 93,259 67,340
Cash flows from investing activities:      
Acquisition of businesses, net of cash acquired (96,777) (11,445) (198,628)
Capital expenditures (37,183) (20,589) (29,728)
Additions to capitalized software (8,386) (9,573) (9,002)
Proceeds from sale of building and land 17,201 0 1,184
Proceeds from life insurance 0 0 2,307
Net cash used by investing activities (125,145) (41,607) (233,867)
Cash flows from financing activities:      
Proceeds from long-term debt 131,261 55,000 257,000
Principal payments on long-term debt (65,000) (110,000) (92,000)
Dividends paid (8,302) (8,278) (8,257)
Debt issuance costs (1,071) 0 0
Other (3,371) (3,078) 20
Net cash provided (used) by financing activities 53,517 (66,356) 156,763
Effect of exchange rate changes on cash and cash equivalents (2,178) (335) 1,455
Net increase (decrease) in cash and cash equivalents 31,331 (15,039) (8,309)
Cash and cash equivalents at beginning of year 30,477 45,516 53,825
Cash and cash equivalents at end of year 61,808 30,477 45,516
Changes in assets and liabilities:      
Accounts receivable, net (7,230) (2,789) (23,587)
Contract assets (66,885) (5,748) (18,540)
Inventories 10,150 (9,830) 3,959
Other assets and liabilities 8,020 (695) (2,014)
Accounts payable 7,400 9,442 8,735
Contract liabilities 36,751 (1,466) 7,914
Accrued expenses 1,850 771 5,644
Supplemental cash flow information:      
Interest paid 8,076 8,540 3,731
Income taxes paid (including state & foreign) $ 26,084 $ 8,789 $ 25,674