In millions, except per share items | Jul-31-23 | Jul-31-22 | Jul-31-21 | Jul-31-20 | Jul-31-19 |
| 10-K | 10-K | 10-K | 10-K | 10-K |
Cash flows from operating activities | | | | | |
Net income | 69.3 | 60.2 | 56.0 | 32.4 | 22.1 |
|
Adjustments to reconcile net income to net cash from operating activities: | | | | | |
Deferred income taxes | -0.3 | 3.8 | 2.0 | -5.0 | -5.2 |
Depreciation and amortization | 27.8 | 23.4 | 21.3 | 22.8 | 25.1 |
Loss (gain) on disposal of assets | 0.2 | -0.5 | 0.0 | 0.2 | 1.9 |
Change in fair value of derivatives | 0.0 | -1.7 | -5.8 | 2.3 | 4.9 |
Amortization of debt issuance costs | 1.0 | 1.6 | 1.6 | 2.1 | 2.1 |
Loss on debt extinguishment | | | 0.3 | | 0.2 |
Equity-based compensation | 6.3 | 5.5 | 10.8 | 1.2 | 1.1 |
Inventory reserve adjustments | 0.7 | 4.4 | 1.1 | | |
Change in operating assets and liabilities: | | | | | |
Accounts receivable trade, net | -11.7 | -3.8 | -6.8 | -4.0 | 2.7 |
Inventories | -33.9 | -18.8 | -23.5 | -11.2 | -12.8 |
Prepaid expenses and other assets | 2.3 | -3.3 | -6.6 | -0.6 | 0.4 |
Other assets | -0.9 | 1.3 | -0.3 | 0.0 | -0.6 |
Accounts payable | 1.5 | -0.3 | 0.0 | 1.4 | -2.9 |
Accrued expenses | 7.0 | 7.7 | 7.6 | -1.7 | 1.0 |
Accrued compensation | 3.6 | -4.0 | 8.2 | 2.3 | -2.2 |
Deferred revenue | 0.0 | -2.8 | -1.0 | 0.3 | 3.8 |
Other current and non-current liabilities | -2.8 | -3.9 | -0.5 | 0.5 | 0.7 |
Net cash provided by operating activities | 70.1 | 68.8 | 64.3 | 55.2 | 42.5 |
|
Cash flows from investing activities | | | | | |
Purchases of property and equipment | -72.8 | -44.6 | -13.7 | -13.6 | -18.4 |
Proceeds from sales of property and equipment | 0.3 | 0.9 | 0.1 | 0.1 | 0.1 |
Net cash used in investing activities | -72.6 | -43.7 | -13.6 | -13.5 | -221.4 |
|
Cash flows from financing activities | | | | | |
Dividend to parent | | | -100.0 | | |
Proceeds from issuance of common stock pursuant to the initial public offering, net of underwriters’ discounts and commissions | | | 187.5 | | |
Payments under line of credit | -121.0 | -98.0 | -263.0 | -99.0 | -69.6 |
Borrowings under line of credit | 24.0 | 84.0 | 143.5 | 59.5 | 78.1 |
Issuance of long-term debt | 225.8 | | 38.1 | 13.1 | 73.1 |
Payments of long-term debt | -120.2 | -11.3 | -51.9 | -12.7 | -10.6 |
Repayment of capital lease | | | 0.0 | | |
Proceeds from employee stock purchase plan | 0.4 | 0.3 | | | |
Taxes paid related to net share settlement of equity awards | -0.7 | -0.8 | | | |
Debt issuance costs | -2.7 | | -0.3 | | -2.1 |
Payments of deferred offering costs | | -0.3 | -6.7 | | |
Net cash provided by (used in) financing activities | 5.7 | -26.2 | -52.7 | -39.2 | 129.5 |
Net increase (decrease) in cash | 3.2 | -1.1 | -2.0 | | |
|
Supplemental cash flow information | | | | | |
Interest paid, net of amount capitalized | 10.4 | 5.2 | 12.6 | 15.6 | 19.3 |
Income taxes paid | 11.6 | 17.7 | 22.7 | 15.6 | 11.7 |
|
Non-cash investing activities | | | | | |
Property and equipment additions in accounts payable and accrued expenses | 3.4 | 1.7 | 1.4 | 3.1 | 2.5 |