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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2017
May 31, 2016
May 31, 2015
Cash Flows From Operating Activities      
Net Income $ 43,973 $ 36,538 $ 33,576
Adjustments to reconcile net income to net cash provided from operating activities:      
Depreciation and amortization 14,691 12,181 10,649
Deferred income taxes (292) 1,906 496
Share-based compensation 5,261 5,468 4,450
Excess income tax benefit from exercise of stock options (3,922) (2,945) (2,475)
Changes in operating assets and liabilities, net of business acquisitions:      
Accounts receivable 5,035 (6,002) (7,252)
Inventories (6,970) (9,427) 319
Prepaid expenses and other assets 812 (3,836) 3,264
Accounts payable (1,691) 704 412
Accruals and other changes 3,377 744 353
Net Cash From Operating Activities 60,274 35,331 43,792
Cash Flows Used in Investing Activities      
Purchase of property, equipment and other non-current intangible assets (14,578) (14,222) (9,619)
Proceeds from the sales of marketable securities 149,226 147,189 93,662
Purchase of marketable securities (162,755) (151,625) (105,944)
Business acquisitions, net of cash acquired (34,029) (42,491) (6,554)
Net Cash Used in Investing Activities (62,136) (61,149) (28,455)
Cash Flows From Financing Activities      
Exercise of stock options 21,148 12,363 8,558
Excess income tax benefit from the exercise of stock options 3,922 2,945 2,475
Net Cash From Financing Activities 25,070 15,308 11,033
Effect of Exchange Rate on Cash (898) (294) (984)
Net Increase (Decrease) in Cash and Cash Equivalents 22,310 (10,804) 25,386
Cash and Cash Equivalents, Beginning of Year 55,257 66,061 40,675
Cash and Cash Equivalents, End of Year 77,567 55,257 66,061
Supplementary Cash Flow Information      
Income taxes paid, net of refunds $ 13,865 $ 13,413 $ 10,454