Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.3.1.900
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Feb. 29, 2016
Feb. 28, 2015
OPERATING ACTIVITIES    
Net loss $ (196,911) $ (686)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Share-based payment expense 4,156 4,935
Depreciation and amortization 18,225 17,747
Impairment of goodwill and intangible assets 145,112 0
Unrealized loss on derivatives 1,224 994
Deferred income taxes 14,410 3,228
Bad debt expense 24,203 1,118
Gain on bargain purchase (987) 0
Loss on disposal of assets 227 29
Changes in operating assets and liabilities excluding the effect of acquisitions:    
Trade and other receivables (17,578) (23,044)
Inventories 4,578 (20,670)
Prepaid expenses and other assets (5,091) (14,011)
Trade and other payables 15,912 12,691
Accrued and other liabilities 2,632 21,153
Net cash provided by operating activities 10,112 3,484
INVESTING ACTIVITIES    
Acquisition of businesses, net of cash acquired (5,585) 732
Increase in restricted cash (2,000) 0
Purchase of equity securities (6,000) 0
Purchase of property, plant and equipment and intangible assets (24,057) (9,821)
Net cash used in investing activities (37,642) (9,089)
FINANCING ACTIVITIES    
Repayment of debt 0 (119,605)
Net movement in revolving debt 27,181 24,619
Payments on financing obligations (112) (114)
Proceeds from issuance of common stock 0 126,500
Common stock issuance costs 0 (9,739)
Proceeds from stock options exercises 38 867
Excess tax benefits from share-based compensation 0 5,736
Payment of taxes upon net stock option exercise 0 (7,017)
Net cash provided by financing activities 27,107 21,247
Effect of exchange rate changes on cash 75 (1,792)
Net increase (decrease) in cash (348) 13,850
Cash at beginning of period 2,932 6,871
Cash at end of period 2,584 20,721
Cash paid during the period for:    
Interest 12,204 12,496
Income taxes 2,355 9,487
Non-cash investing and financing activities:    
Capitalization of costs related to financing lease obligation 12,008 7,829
Capitalization of intangible assets 2,150 0
Acquisition of subsidiaries $ 5,357 $ 0