|
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
9 Months Ended |
|
Apr. 30, 2012
|
Apr. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 77,379 |
$ 69,384 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation |
10,419 |
10,285 |
| Amortization of intangibles |
8,380 |
7,298 |
| Impairment of trademarks |
|
3,466 |
| Deferred income tax provision (benefit) |
(2,195) |
355 |
| (Gain)/loss on disposition of property, plant and equipment |
(232) |
71 |
| Stock-based compensation |
484 |
2,554 |
| Excess tax benefits from stock-based awards |
(101) |
(516) |
| Gain on involuntary conversion of assets |
|
(2,190) |
| Changes in assets and liabilities (excluding acquisition): |
|
|
| Accounts receivable |
(116,831) |
(80,751) |
| Inventories |
(16,405) |
(56,940) |
| Notes receivable |
7,062 |
1,398 |
| Prepaid expenses and other |
(323) |
(1,635) |
| Accounts payable |
52,908 |
(3,097) |
| Accrued liabilities |
13,252 |
(4,870) |
| Other liabilities |
3,520 |
5,401 |
| Net cash provided by (used in) operating activities |
37,317 |
(49,787) |
| Cash flows from investing activities: |
|
|
| Purchases of property, plant and equipment |
(6,286) |
(28,825) |
| Proceeds from dispositions of property, plant and equipment |
448 |
682 |
| Proceeds from notes receivable |
500 |
|
| Proceeds from disposition of investments |
400 |
2,600 |
| Insurance proceeds from involuntary conversion of assets |
|
2,569 |
| Acquisition of operating subsidiary |
(170) |
(99,562) |
| Other |
600 |
(1,000) |
| Net cash used in investing activities |
(4,508) |
(123,536) |
| Cash flows from financing activities: |
|
|
| Cash dividends |
(24,387) |
(16,744) |
| Purchases of treasury stock |
(77,000) |
|
| Excess tax benefits from stock-based awards |
101 |
516 |
| Proceeds from issuance of common stock |
1,028 |
1,047 |
| Net cash used in financing activities |
(100,258) |
(15,181) |
| Net decrease in cash and equivalents |
(67,449) |
(188,504) |
| Cash and cash equivalents, beginning of period |
215,435 |
247,751 |
| Cash and cash equivalents, end of period |
147,986 |
59,247 |
| Supplemental cash flow information: |
|
|
| Income taxes paid |
38,435 |
46,758 |
| Interest paid |
371 |
152 |
| Non-cash transactions: |
|
|
| Capital expenditures in accounts payable |
129 |
438 |
| Common stock issued in business acquisition |
|
$ 90,531 |