SEC Document


CONSOLIDATED STATEMENTS OF CASH FLOWS

IN THOUSANDS

(Unaudited)

 

     Six Months Ended  
     November 30,  
     2017     2016  

Cash Flows From Operating Activities:

    

Net income

   $ 212,761     $ 43,138  

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

    

Depreciation

     40,386       35,568  

Amortization

     23,245       22,111  

Goodwill and other intangible asset impairments

       188,298  

Deferred income taxes

     (32,276     (59,363

Stock-based compensation expense

     14,429       17,013  

Other non-cash interest expense

     2,843       4,964  

Realized (gain) on sales of marketable securities

     (4,897     (3,698

Other

     9       (47

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

    

Decrease in receivables

     34,136       110,871  

(Increase) in inventory

     (62,923     (81,586

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

     3,919       (20,876

(Decrease) in accounts payable

     (95,302     (69,518

(Decrease) in accrued compensation and benefits

     (45,464     (55,662

(Decrease) in accrued losses

     (8,490     (899

Increase in other accrued liabilities

     33,304       28,057  

Other

     (494     361  
  

 

 

   

 

 

 

Cash Provided By Operating Activities

     115,186       158,732  
  

 

 

   

 

 

 

Cash Flows From Investing Activities:

    

Capital expenditures

     (45,295     (48,049

Acquisition of businesses, net of cash acquired

     (54,647     (65,201

Purchase of marketable securities

     (96,039     (25,142

Proceeds from sales of marketable securities

     58,867       24,588  

Other

     469       956  
  

 

 

   

 

 

 

Cash (Used For) Investing Activities

     (136,645     (112,848
  

 

 

   

 

 

 

Cash Flows From Financing Activities:

    

Additions to long-term and short-term debt

     35,036       76,369  

Reductions of long-term and short-term debt

     (1,535     (73,588

Cash dividends

     (82,878     (76,604

Shares of common stock repurchased and returned for taxes

     (12,125     (19,663

Payments of acquisition-related contingent consideration

     (3,359     (4,130

Other

     (1,464     (1,365
  

 

 

   

 

 

 

Cash (Used For) Financing Activities

     (66,325     (98,981
  

 

 

   

 

 

 

Effect of Exchange Rate Changes on Cash and

    

Cash Equivalents

     5,144       (6,148
  

 

 

   

 

 

 

Net Change in Cash and Cash Equivalents

     (82,640     (59,245

Cash and Cash Equivalents at Beginning of Period

     350,497       265,152  
  

 

 

   

 

 

 

Cash and Cash Equivalents at End of Period

   $ 267,857     $ 205,907  
  

 

 

   

 

 

 

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