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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
May 31, 2020
May 31, 2019
Cash flows from operating activities    
Net earnings $ 79,895 $ 55,012
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Deferred income taxes (11,450) (20,478)
Depreciation and amortization 82,452 60,833
Net gain on disposition of equipment (19,431) (37,474)
Accretion of debt discount 4,102 3,268
Stock based compensation expense 8,265 10,792
Goodwill impairment   10,025
Noncontrolling interest adjustments 2,826 7,322
Other 568 1,916
Decrease (increase) in assets:    
Accounts receivable, net 110,431 27,926
Inventories 12,555 (169,813)
Leased railcars for syndication (38,826) (43,796)
Other assets (59,212) (2,525)
Increase (decrease) in liabilities:    
Accounts payable and accrued liabilities (77,243) 30,581
Deferred revenue (5,900) (27,712)
Net cash provided by (used in) operating activities 89,032 (94,123)
Cash flows from investing activities    
Proceeds from sales of assets 78,521 100,730
Capital expenditures (55,326) (149,945)
Investment in and advances to unconsolidated affiliates (1,500) (11,393)
Cash distribution from unconsolidated affiliates and other 11,273 1,986
Net cash provided by (used in) investing activities 32,968 (58,622)
Cash flows from financing activities    
Net change in revolving notes with maturities of 90 days or less 214,932 (1,882)
Proceeds from revolving notes with maturities longer than 90 days 175,000  
Proceeds from issuance of notes payable   225,000
Repayments of notes payable (24,002) (179,803)
Debt issuance costs   (2,974)
Dividends (26,344) (25,072)
Cash distribution to joint venture partner (36,152) (11,715)
Tax payments for net share settlement of restricted stock (2,266) (6,321)
Net cash provided by (used in) financing activities 301,168 (2,767)
Effect of exchange rate changes (17,693) (2,866)
Increase (decrease) in cash and cash equivalents and restricted cash 405,475 (158,378)
Cash and cash equivalents and restricted cash    
Beginning of period 338,487 539,474
Cash and cash equivalents and restricted cash, Ending balance 743,962 381,096
Balance sheet reconciliation    
Cash and cash equivalents 735,258 359,625
Restricted cash 8,704 21,471
Cash and cash equivalents and restricted cash, Ending balance 743,962 381,096
Cash paid during the period for    
Interest 16,757 11,350
Income taxes, net 36,393 45,904
Non-cash activity    
Transfer from Leased railcars for syndication to Equipment on operating leases, net 55,739 42,802
Capital expenditures accrued in Accounts payable and accrued liabilities 2,769 14,455
Change in Accounts payable and accrued liabilities associated with dividends declared (102) 177
Conversion of unconsolidated affiliate note receivable to Investment in unconsolidated affiliates 4,760  
Change in Accounts payable and accrued liabilities associated with cash distributions to joint venture partner $ 1,401 $ (779)