|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Apr. 30, 2012
|
Apr. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 22,342 |
$ 22,581 |
| Loss from discontinued operations, net of taxes |
45 |
24 |
| Income from continuing operations |
22,387 |
22,605 |
| Adjustments to reconcile income from continuing operations to net cash provided by continuing operating activities: |
|
|
| Depreciation and amortization |
25,803 |
25,906 |
| Deferred income taxes |
(1,253) |
6,005 |
| Share-based compensation expense |
5,436 |
4,600 |
| Provision for bad debt |
1,548 |
1,172 |
| Discount accretion on insurance claims |
360 |
436 |
| Auction rate security credit loss impairment |
313 |
|
| Gain on sale of assets |
(1,229) |
(102) |
| Income from unconsolidated affiliates, net |
(4,633) |
(1,619) |
| Distributions from unconsolidated affiliates |
4,311 |
738 |
| Changes in operating assets and liabilities, net of effects of acquisitions: |
|
|
| Trade accounts receivable |
(13,405) |
(20,265) |
| Prepaid expenses and other current assets |
(6,338) |
(9,983) |
| Insurance recoverables |
(85) |
(1,046) |
| Other assets and long-term receivables |
7,652 |
3,659 |
| Income taxes payable |
9,604 |
2,532 |
| Retirement plans and other non-current liabilities |
(313) |
(3,141) |
| Insurance claims |
6,987 |
(2,747) |
| Trade accounts payable and other accrued liabilities |
(2,766) |
2,774 |
| Total adjustments |
31,992 |
8,919 |
| Net cash provided by continuing operating activities |
54,379 |
31,524 |
| Net cash provided by discontinued operating activities |
1,143 |
1,653 |
| Net cash provided by operating activities |
55,522 |
33,177 |
| Cash flows from investing activities: |
|
|
| Additions to property, plant and equipment |
(16,875) |
(10,098) |
| Proceeds from sale of assets and other |
1,793 |
344 |
| Purchase of businesses, net of cash acquired |
|
(292,178) |
| Investments in unconsolidated affiliates |
|
(793) |
| Proceeds from redemption of auction rate securities |
|
5,000 |
| Net cash used in investing activities |
(15,082) |
(297,725) |
| Cash flows from financing activities: |
|
|
| Proceeds from exercises of stock options (including income tax benefit) |
8,097 |
7,731 |
| Dividends paid |
(15,579) |
(14,834) |
| Deferred financing costs paid |
(14) |
(4,991) |
| Borrowings from line of credit |
404,000 |
561,500 |
| Repayment of borrowings from line of credit |
(438,000) |
(306,000) |
| Changes in book cash overdrafts |
|
4,986 |
| Net cash (used in) provided by financing activities |
(41,496) |
248,392 |
| Net decrease in cash and cash equivalents |
(1,056) |
(16,156) |
| Cash and cash equivalents at beginning of period |
26,467 |
39,446 |
| Cash and cash equivalents at end of period |
25,411 |
23,290 |
| Supplemental Data: |
|
|
| Cash paid for income taxes, net of refunds received |
5,236 |
4,794 |
| Tax effect from exercise of options |
|
1,266 |
| Cash received from exercise of options |
8,094 |
6,465 |
| Interest paid on line of credit |
$ 2,915 |
$ 5,410 |