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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
May 31, 2023
May 31, 2022
May 31, 2023
May 31, 2022
Cash flows from operating activities:        
Net income $ 13,608 $ 75,504 $ 324 $ 160,945
Adjustments to reconcile net income to cash provided by operating activities:        
Asset impairment charges     5,455 932
Exit-related asset impairments     254  
Depreciation and amortization     66,390 54,566
Inventory write-downs     575 3,199
Deferred income taxes     (933) 23,851
Undistributed equity in earnings of joint ventures (285) (762) (1,386) (1,589)
Share-based compensation expense     8,438 14,046
Loss on disposal of assets, net     10 1,192
Unrealized foreign exchange loss, net     126 193
Credit loss, net     195 17
Changes in assets and liabilities, net of acquisitions:        
Accounts receivable     (71,016) (43,340)
Inventories     23,215 (164,196)
Income taxes     (2,992) 8,843
Prepaid expenses and other current assets     (12,476) (14,771)
Other long-term assets     (3,868) (1,068)
Operating lease assets and liabilities     (276) (2,049)
Accounts payable     10,259 44,874
Accrued payroll and related liabilities     (30,451) (16,890)
Other accrued liabilities     10,381 1,747
Environmental liabilities     (2,542) (14,744)
Other long-term liabilities     2,850 650
Distributed equity in earnings of joint ventures     2,000 1,600
Net cash provided by operating activities     4,532 58,008
Cash flows from investing activities:        
Capital expenditures     (101,270) (97,972)
Acquisitions, net of acquired cash     (26,902) (177,070)
Proceeds from insurance and sale of assets     10,775 18,244
Purchase of equity investment       (5,000)
Deposit on land option       (80)
Net cash used in investing activities     (117,397) (261,878)
Cash flows from financing activities:        
Borrowings from long-term debt     501,761 895,175
Repayment of long-term debt     (403,129) (655,440)
Payment of debt issuance costs     (156)  
Repurchase of Class A common stock       (17,858)
Taxes paid related to net share settlement of share-based payment awards     (7,611) (11,003)
Distributions to noncontrolling interests     (1,214) (2,330)
Dividends paid     (16,023) (16,172)
Net cash provided by financing activities     73,628 192,372
Effect of exchange rate changes on cash     (55) (195)
Net decrease in cash and cash equivalents     (39,292) (11,693)
Cash and cash equivalents as of beginning of period     43,803 27,818
Cash and cash equivalents as of end of period $ 4,511 $ 16,125 4,511 16,125
Cash paid during the period for:        
Interest     11,763 3,249
Income taxes, net     4,565 10,502
Schedule of noncash investing and financing transactions:        
Purchases of property, plant and equipment included in liabilities     $ 12,605 $ 19,868