|
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands
|
9 Months Ended |
|
May 31, 2011
|
May 31, 2010
|
| Operating Activities |
 |
 |
| Net earnings |
$ 70,177 |
$ 40,846 |
| Adjustments to reconcile net earnings to cash provided by operating activities: |
 |
 |
| Depreciation and amortization |
38,143 |
39,079 |
| Net loss (gain) on disposal of businesses |
15,744 |
(334) |
| Stock-based compensation expense |
8,093 |
6,044 |
| Provision (benefit) for deferred income taxes |
(2,298) |
682 |
| Amortization of debt discount and debt issuance costs |
2,409 |
2,964 |
| Other non-cash adjustments |
(18) |
(707) |
| Changes in components of working capital and other: |
 |
 |
| Accounts receivable |
(27,752) |
(28,555) |
| Expiration of accounts receivable securitization program |
 |
(37,106) |
| Inventories |
(39,533) |
(3,899) |
| Prepaid expenses and other assets |
5,989 |
2,372 |
| Trade accounts payable |
18,400 |
24,680 |
| Income taxes payable |
6,904 |
9,235 |
| Accrued compensation and benefits |
646 |
16,994 |
| Other accrued liabilities |
(1,806) |
(2,721) |
| Net cash provided by operating activities |
95,098 |
69,574 |
| Investing Activities |
 |
 |
| Proceeds from sale of property, plant and equipment |
359 |
1,073 |
| Proceeds from sale of businesses, net of transaction costs |
3,463 |
7,516 |
| Capital expenditures |
(14,843) |
(13,213) |
| Business acquisitions, net of cash acquired |
(160,047) |
(29,248) |
| Net cash used in investing activities |
(171,068) |
(33,872) |
| Financing Activities |
 |
 |
| Net borrowings on revolving credit facilities |
14 |
182 |
| Issuance of term loans |
100,000 |
 |
| Repurchases of 2% Convertible Notes |
(34) |
(22,894) |
| Debt issuance costs |
(5,197) |
 |
| Stock option exercises and related tax benefits |
7,285 |
1,692 |
| Cash dividend |
(2,716) |
(2,702) |
| Net cash provided by (used in) financing activities |
99,352 |
(23,722) |
| Effect of exchange rate changes on cash |
4,695 |
(1,084) |
| Net increase in cash and cash equivalents |
28,077 |
10,896 |
| Cash and cash equivalents - beginning of period |
40,222 |
11,385 |
| Cash and cash equivalents - end of period |
$ 68,299 |
$ 22,281 |