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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities    
Net earnings (loss) $ 24.4 $ (0.5)
Adjustments to reconcile net earnings (loss) to net cash used in operating activities:    
Deferred income taxes 16.9 20.2
Depreciation and amortization 75.9 75.6
Net gain on disposition of equipment (34.3) (0.8)
Accretion of debt discount   4.6
Stock based compensation expense 10.9 12.5
Net loss on extinguishment of debt   4.8
Noncontrolling interest adjustments 0.7 0.3
Other 3.4 1.8
Decrease (increase) in assets:    
Accounts receivable, net (160.3) (49.2)
Income tax receivable (17.3) (66.0)
Inventories (224.2) (92.3)
Leased railcars for syndication (77.6) (55.5)
Other assets (16.1) 0.9
Increase (decrease) in liabilities:    
Accounts payable and accrued liabilities 77.2 18.6
Deferred revenue (8.0) 1.2
Net cash provided by (used in) operating activities (328.4) (123.8)
Cash flows from investing activities    
Proceeds from sales of assets 155.1 12.2
Capital expenditures (248.8) (62.9)
Investments in and advances to / repayments from unconsolidated affiliates (4.2) 0.7
Cash distribution from unconsolidated affiliates and other 1.8 0.7
Net cash used in investing activities (96.1) (49.3)
Cash flows from financing activities    
Net change in revolving notes with maturities of 90 days or less (97.3) 147.6
Proceeds from revolving notes with maturities longer than 90 days 35.0 112.0
Repayments of revolving notes with maturities longer than 90 days   (286.0)
Proceeds from issuance of notes payable 323.3 373.8
Repayments of notes payable (15.0) (308.5)
Debt issuance costs (7.2) (14.1)
Repurchase of stock   (20.0)
Dividends (26.9) (26.9)
Investment by joint venture partner   7.0
Cash distribution to joint venture partner (9.4) (24.1)
Tax payments for net share settlement of restricted stock (3.5) (2.8)
Net cash provided by (used in) financing activities 199.0 (42.0)
Effect of exchange rate changes 19.9 9.9
Decrease in cash and cash equivalents and restricted cash (205.6) (205.2)
Cash and cash equivalents and restricted cash    
Cash and cash equivalents and restricted cash, Beginning balance 671.4 842.1
Cash and cash equivalents and restricted cash, Ending balance 465.8 636.9
Balance sheet reconciliation    
Cash and cash equivalents 449.7 628.2
Restricted cash 16.1 8.7
Total cash and cash equivalents and restricted cash as presented above 465.8 636.9
Cash paid during the period for    
Interest 33.3 20.7
Income taxes, net 11.1 9.9
Non-cash activity    
Transfers between Leased railcars for syndication and Inventories and Equipment on operating leases, net 13.0 78.1
Capital expenditures accrued in Accounts payable and accrued liabilities 5.7 1.9
Change in Accounts payable and accrued liabilities associated with dividends declared (0.1) 0.2
Change in Accounts payable and accrued liabilities associated with cash distributions to joint venture partner $ 0.6 $ 1.1