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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2024
May 31, 2023
Aug. 31, 2023
Cash flows from operating activities:          
Net (loss) income $ (198,511) $ 13,608 $ (250,320) $ 324  
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:          
Goodwill impairment charges 215,941   215,941    
Other asset impairment charges     2,040 5,455  
Exit-related asset impairments     176 254  
Depreciation and amortization     72,188 66,390  
Inventory write-downs       575  
Deferred income taxes     (54,065) (933)  
Undistributed equity in earnings of joint ventures (300) (285) (1,003) (1,386)  
Share-based compensation expense     6,197 8,438  
(Gain) loss on disposal of assets, net     (511) 10  
Unrealized foreign exchange loss, net     463 126  
Credit loss, net     199 195  
Changes in assets and liabilities, net of acquisitions:          
Accounts receivable     (4,516) (71,016)  
Inventories     (46,750) 23,215  
Income taxes     171 (2,992)  
Prepaid expenses and other current assets     9,896 (12,476)  
Other long-term assets     (5,797) (3,868)  
Operating lease assets and liabilities     (440) (276)  
Accounts payable     6,819 10,259  
Accrued payroll and related liabilities     (12,330) (30,451)  
Other accrued liabilities     2,836 10,381  
Environmental liabilities     (2,180) (2,542)  
Other long-term liabilities     1,418 2,850  
Distributed equity in earnings of joint ventures     2,350 2,000  
Net cash (used in) provided by operating activities     (57,218) 4,532  
Cash flows from investing activities:          
Capital expenditures     (56,258) (101,270)  
Acquisitions, net of acquired cash       (26,902)  
Proceeds from insurance and sale of assets     2,829 10,775  
Purchase of investments     (6,000)    
Net cash used in investing activities     (59,429) (117,397)  
Cash flows from financing activities:          
Borrowings from long-term debt     579,500 501,761  
Repayment of long-term debt     (421,414) (403,129)  
Payment of debt issuance costs       (156)  
Taxes paid related to net share settlement of share-based payment awards     (5,282) (7,611)  
Distributions to noncontrolling interests     (738) (1,214)  
Dividends paid     (16,306) (16,023)  
Net cash provided by financing activities     135,760 73,628  
Effect of exchange rate changes on cash     44 (55)  
Net increase (decrease) in cash and cash equivalents     19,157 (39,292)  
Cash and cash equivalents as of beginning of period     6,032 43,803 $ 43,803
Cash and cash equivalents as of end of period $ 25,189 $ 4,511 25,189 4,511 $ 6,032
Cash paid during the period for:          
Interest     16,793 11,763  
Income taxes, net     355 4,565  
Schedule of noncash investing and financing transactions:          
Purchases of property, plant and equipment included in liabilities     $ 5,961 $ 12,605