| Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||
Net earnings | |||||||||
105,811 | 172,063 | 160,462 | 284,824 | 265,309 | 149,779 | -5,381 | 61,170 | 8,387 | 8,331 |
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||||
Deferred income taxes | |||||||||
-20,225 | -40,496 | 4,377 | -8,935 | -20,151 | -4,687 | -9,662 | 11,617 | 2,399 | 15,052 |
Depreciation and amortization | |||||||||
83,731 | 74,356 | 65,129 | 63,345 | 45,156 | 40,422 | 41,447 | 42,371 | 38,293 | 37,511 |
Net gain on disposition of equipment | |||||||||
40,963 | 44,369 | 9,740 | 15,796 | 1,330 | 15,039 | 18,072 | 8,964 | 5,121 | 6,543 |
Accretion of debt discount | |||||||||
4,458 | 4,171 | 2,340 | - | - | - | 2,455 | 3,259 | 6,583 | 8,149 |
Stock based compensation expense | |||||||||
11,153 | 29,314 | 26,427 | 24,037 | 19,459 | 11,285 | 6,302 | 8,757 | 7,073 | - |
Gain on contribution to joint venture | |||||||||
- | - | - | - | - | 29,006 | - | - | - | - |
Noncontrolling interest adjustments | |||||||||
7,402 | 2,864 | -677 | 526 | 17,215 | 2,774 | -2,144 | - | - | - |
Goodwill impairment | |||||||||
10,025 | - | - | - | - | - | 76,900 | - | - | - |
Loss on extinguishment of debt (non-cash portion) | |||||||||
- | - | - | - | - | - | - | - | -8,453 | 2,070 |
Other | |||||||||
145 | 1,688 | -845 | 560 | 1,184 | 576 | 1,089 | 4,905 | -311 | 4,237 |
Decrease (increase) in assets: | |||||||||
Accounts receivable, net | |||||||||
-13,022 | 83,551 | 25,272 | 32,051 | -13,652 | 23,749 | 7,323 | -37,763 | 96,552 | -22,430 |
Inventories | |||||||||
143,168 | 26,592 | 2,787 | -53,711 | 143,849 | 9,675 | -19,045 | -3,709 | 116,866 | 45,212 |
Leased railcars for syndication | |||||||||
96,110 | 54,023 | -41,015 | -19,154 | 90,614 | 57,779 | -22,881 | 76,071 | 20,839 | -759 |
Other | |||||||||
-6,843 | -34,115 | -17,558 | 16,989 | -575 | 4,069 | -969 | - | -8,863 | -6,455 |
Increase (decrease) in liabilities: | |||||||||
Accounts payable and accrued liabilities | |||||||||
55,910 | 54,032 | -25,422 | -85,928 | 72,419 | 63,362 | -15,429 | 16,236 | 130,673 | 12,777 |
Deferred revenue | |||||||||
-19,275 | -20,231 | 33,039 | 50,712 | 13,308 | 11,713 | -8,485 | 11,304 | -5,287 | -7,445 |
Net cash used in operating activities | |||||||||
-21,241 | 103,341 | 285,604 | 337,170 | 192,333 | 135,907 | 104,592 | 116,056 | -34,252 | 42,561 |
Cash flows from investing activities | |||||||||
Acquisitions, net of cash acquired | |||||||||
361,878 | 34,874 | 27,127 | - | - | - | - | - | - | - |
Proceeds from sales of assets | |||||||||
125,427 | 153,224 | 24,149 | 103,715 | 5,295 | 54,235 | 75,338 | 33,560 | 18,730 | 22,978 |
Capital expenditures | |||||||||
198,233 | 176,848 | 86,065 | 139,013 | 105,989 | 70,227 | 60,827 | 117,885 | 84,302 | 38,989 |
Contract placement fee | |||||||||
- | - | - | - | - | - | - | - | - | 6,050 |
Decrease (increase) in restricted cash | |||||||||
- | - | - | 15,410 | -271 | 333 | 2,530 | 4,164 | -412 | 1,442 |
Investment in and advances to unconsolidated affiliates | |||||||||
11,393 | 26,455 | 40,632 | 12,855 | 34,453 | 13,753 | 2,240 | 506 | 2,330 | 927 |
Cash distribution from joint ventures | |||||||||
-2,096 | -4,661 | -550 | 7,855 | 3,345 | - | - | - | - | - |
Other | |||||||||
- | - | - | - | - | - | 3,582 | -48 | 1,774 | -260 |
Net cash provided by (used in) investing activities | |||||||||
-443,981 | -80,292 | -129,125 | -55,708 | -131,531 | -30,078 | 6,159 | -88,947 | -69,264 | -24,170 |
Cash flows from financing activities | |||||||||
Net change in revolving notes with maturities of 90 days or less | |||||||||
-105 | 23,401 | 4,324 | -49,000 | 49,000 | - | -16,396 | -57,302 | 71,625 | -11,934 |
Proceeds from revolving notes with maturities longer than 90 days | |||||||||
- | - | - | - | 44,451 | 37,819 | 38,177 | 63,773 | 25,159 | 5,698 |
Repayments of revolving notes with maturities longer than 90 days | |||||||||
- | - | - | 1,888 | 55,644 | 72,947 | 34,966 | 33,934 | 10,000 | 5,698 |
Proceeds from issuance of notes payable | |||||||||
525,000 | 13,771 | 276,093 | - | - | 200,000 | 2,186 | 2,750 | 231,250 | 2,149 |
Repayments of notes payable | |||||||||
182,971 | 22,269 | 8,297 | 22,299 | 7,475 | 128,797 | 58,831 | 7,070 | 311,360 | 38,267 |
Debt issuance costs | |||||||||
8,630 | - | 9,082 | 4,161 | - | 382 | - | - | 11,469 | 109 |
Decrease in restricted cash | |||||||||
- | - | - | - | 11,000 | 11,000 | - | - | - | - |
Repurchase of stock | |||||||||
- | - | - | 33,498 | 69,950 | 33,583 | - | - | - | - |
Dividends | |||||||||
33,193 | 29,914 | 24,890 | 23,303 | 16,491 | 4,123 | - | - | - | - |
Cash distribution to joint venture partner | |||||||||
16,879 | 73,033 | 28,511 | 95,092 | 20,375 | 5,076 | - | - | - | - |
Investment by joint venture partner | |||||||||
- | 6,500 | - | 5,400 | - | 419 | 3,206 | 1,362 | - | - |
Tax payments for net share settlement of restricted stock | |||||||||
6,321 | 7,723 | 5,215 | 5,500 | - | - | - | - | - | - |
Excess tax deficiency from restricted stock awards | |||||||||
- | - | - | 2,813 | 2,908 | 109 | 900 | 1,627 | - | - |
Proceeds from equity offering | |||||||||
- | - | - | - | - | - | - | - | 63,180 | 56,250 |
Expenses from equity offering | |||||||||
- | - | - | - | - | - | - | - | 420 | 3,542 |
Other | |||||||||
- | - | - | -887 | -248 | - | -8 | - | 26 | 29 |
Net cash provided by (used in) financing activities | |||||||||
276,901 | -89,267 | 204,422 | -227,415 | -62,824 | -17,561 | -65,732 | -28,794 | 57,991 | 4,576 |
Effect of exchange rate changes | |||||||||
-12,666 | -14,666 | 12,499 | -4,298 | -9,964 | -787 | -1,155 | 5,034 | -3,117 | -290 |
Decrease in cash and cash equivalents and restricted cash | |||||||||
-200,987 | -80,884 | 373,400 | 49,749 | -11,986 | 87,481 | 43,864 | 3,349 | -48,642 | 22,677 |
Cash and cash equivalents and restricted cash | |||||||||
Special items | |||||||||
- | - | - | - | - | - | - | - | - | 11,870 |
Balance Sheet Reconciliation: | |||||||||
Cash and cash equivalents | |||||||||
-329,684 | -530,655 | -611,466 | - | - | - | - | - | - | - |
Restricted cash | |||||||||
-8,803 | -8,819 | -8,892 | - | - | - | - | - | - | - |
Interest | |||||||||
18,330 | 18,878 | 13,962 | 12,277 | 15,535 | 14,347 | 14,964 | 12,737 | 27,872 | 29,409 |
Income taxes, net | |||||||||
62,084 | 66,423 | 45,280 | 125,455 | 139,960 | 69,263 | 29,680 | 8,601 | 677 | -14,953 |
Non-cash activity | |||||||||
Transfer from Leased railcars for syndication and Inventories to Equipment on operating leases, net | |||||||||
43,845 | 20,945 | 8,668 | 73,165 | 3,313 | - | 6,437 | 8,963 | - | - |
Capital expenditures accrued in Accounts payable and accrued liabilities | |||||||||
19,385 | 13,534 | 16,145 | 8,408 | 8,758 | 3,349 | - | - | - | - |
Change in Accounts payable and accrued liabilities associated with dividends declared | |||||||||
19 | -72 | -252 | -331 | 301 | 79 | - | - | - | - |
Change in Accounts payable and accrued liabilities associated with cash distributions to joint venture partner | |||||||||
-1,146 | 14 | 484 | 652 | - | - | - | - | - | - |
Conversion of 3.5% Convertible notes | |||||||||
- | 118,887 | - | - | 109,387 | - | - | - | - | - |
Change in Accounts payable and accrued liabilities associated with repurchase of stock | |||||||||
- | - | - | 1,125 | 268 | - | - | - | - | - |
Transfer of Property, plant and equipment, net to (from) Intangibles and other assets, net | |||||||||
- | - | - | 588 | 4,045 | - | 1,856 | - | - | 708 |
Transfer of Inventories to Accounts receivable, net | |||||||||
- | - | - | - | - | 20,986 | - | - | - | - |
Transfer of Equipment on operating leases to Inventories | |||||||||
- | - | - | - | - | - | 17,826 | - | - | - |
2.25% Convertible Notes, due 2024 | |||||||||
Issuance of 2.25% Convertible notes in connection with the acquisition of the manufacturing business of ARI | |||||||||
50,000 | - | - | - | - | - | - | - | - | - |