XML 22 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2017
Operating Activities      
Net (loss) income $ (35,800) $ 339,570 $ 69,395
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 31,779 33,426 25,792
(Gain) loss on divestitures (1,284) 0 51,820
Loss on sale or disposal of property and equipment 216 1,568 573
Deferred income taxes (40,554) (269,086) (5,778)
Amortization of debt origination costs 5,923 6,742 8,633
Excess tax benefits from share-based awards 0 0 900
Stock-based compensation costs 7,438 8,909 8,148
Loss on extinguishment of debt 0 2,901 1,420
Impairment loss 229,461 99,924 0
Lease termination costs 0 214 524
Other non-cash items 421 1,704 581
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable (2,980) (5,043) (18,938)
Inventories (10,535) (2,482) (10,262)
Prepaid expenses and other assets 6,887 33,721 (1,996)
Accounts payable (3,993) (10,028) 21,447
Accrued liabilities 3,734 (31,495) 2,413
Pension contribution (1,375) 0 (6,000)
Other (54) (435) 0
Net cash provided by operating activities 189,284 210,110 148,672
Investing Activities      
Purchases of property, plant and equipment (10,480) (12,532) (2,977)
Proceeds from divestitures 65,912 0 110,717
Proceeds from the sale of property, plant and equipment 0 0 85
Proceeds from working capital arbitration settlement 0 0 1,419
Acquisition of C.B. Fleet, less cash acquired 0 0 (803,839)
Acquisition of C.B. Fleet escrow receipt 0 970 0
Net cash provided by (used in) investing activities 55,432 (11,562) (694,595)
Financing Activities      
Proceeds from issuance of Senior Notes 0 250,000 0
Proceeds from issuance of Term Loan 0 0 1,427,000
Term Loan repayments (200,000) (444,000) (862,500)
Borrowings under revolving credit agreement 45,000 30,000 110,000
Repayments under revolving credit agreement (45,000) (45,000) (105,000)
Payments of debt origination costs 0 (500) (11,140)
Proceeds from exercise of stock options 2,931 1,620 4,028
Fair value of shares surrendered as payment of tax withholding (2,281) (1,075) (1,431)
Repurchase of common stock (49,978) 0 0
Net cash (used in) provided by financing activities (249,328) (208,955) 560,957
Effects of exchange rate changes on cash and cash equivalents (406) 1,100 (409)
(Decrease) increase in cash and cash equivalents (5,018) (9,307) 14,625
Cash and cash equivalents - beginning of year 32,548 41,855 27,230
Cash and cash equivalents - end of year 27,530 32,548 41,855
Interest paid 98,232 98,572 85,209
Income taxes paid $ 27,463 $ 24,440 $ 47,999