SEC Document


CONSOLIDATED STATEMENTS OF CASH FLOWS

IN THOUSANDS

(Unaudited)

 

     Three Months Ended  
     August 31,  
     2017     2016  

Cash Flows From Operating Activities:

    

Net income

   $ 116,903     $ 113,394  

Adjustments to reconcile net income to net cash provided by (used for) operating activities:

    

Depreciation

     19,893       17,679  

Amortization

     11,483       11,121  

Deferred income taxes

     9,815       (434

Stock-based compensation expense

     7,465       8,171  

Other non-cash interest expense

     1,422       2,481  

Realized (gain) on sales of marketable securities

     (2,861     (2,584

Other

     (140     18  

Changes in assets and liabilities, net of effect from purchases and sales of businesses:

    

Decrease in receivables

     1,646       28,663  

(Increase) in inventory

     (46,771     (42,763

(Increase) in prepaid expenses and other current and long-term assets

     (10,865     (18,206

(Decrease) in accounts payable

     (72,688     (70,598

(Decrease) in accrued compensation and benefits

     (69,008     (77,738

(Decrease) in accrued losses

     (5,765     (2,021

Increase in other accrued liabilities

     20,147       38,015  

Other

     (6,765     1,302  
  

 

 

   

 

 

 

Cash (Used For) Provided By Operating Activities

     (26,089     6,500  
  

 

 

   

 

 

 

Cash Flows From Investing Activities:

    

Capital expenditures

     (17,533     (16,957

Acquisition of businesses, net of cash acquired

     (36,169     (17,274

Purchase of marketable securities

     (56,275     (13,099

Proceeds from sales of marketable securities

     40,792       12,602  

Other

     702       272  
  

 

 

   

 

 

 

Cash (Used For) Investing Activities

     (68,483     (34,456
  

 

 

   

 

 

 

Cash Flows From Financing Activities:

    

Additions to long-term and short-term debt

     19,125       91,669  

Reductions of long-term and short-term debt

     (760     (76,973

Cash dividends

     (40,089     (36,529

Shares of common stock repurchased and returned for taxes

     (5,346     (17,105

Payments of acquisition-related contingent consideration

     (3,258     (4,033

Other

     (747     (866
  

 

 

   

 

 

 

Cash (Used For) Financing Activities

     (31,075     (43,837
  

 

 

   

 

 

 

Effect of Exchange Rate Changes on Cash and Cash Equivalents

     11,341       1,111  
  

 

 

   

 

 

 

Net Change in Cash and Cash Equivalents

     (114,306     (70,682

Cash and Cash Equivalents at Beginning of Period

     350,497       265,152  
  

 

 

   

 

 

 

Cash and Cash Equivalents at End of Period

   $ 236,191     $ 194,470  
  

 

 

   

 

 

 

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