SCHULMAN A INC

CIK:0000087565|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Income Statement [Abstract]
Net sales	$ 722,240	$ 645,795	$ 2,046,961	$ 1,814,473
Cost of sales	624,741	547,368	1,752,682	1,525,845
Selling, general and administrative expenses	76,440	65,266	229,923	203,608
Restructuring expense	104	939	695	12,361
(Gain) loss on sale of assets	0	0	(3,077)	0
Operating income (loss)	20,955	32,222	66,738	72,659
Interest expense	14,285	13,179	41,161	39,450
Foreign currency transaction (gains) losses	(37)	(68)	1,233	1,575
Other (income) expense, net	553	(682)	(1,192)	(1,138)
Income (loss) before taxes	6,154	19,793	25,536	32,772
Provision (benefit) for U.S. and foreign income taxes	878	3,695	(495)	8,157
Net income (loss)	5,276	16,098	26,031	24,615
Noncontrolling interests	(228)	(320)	(881)	(868)
Net income (loss) attributable to A. Schulman, Inc.	5,048	15,778	25,150	23,747
Convertible special stock dividends	1,875	1,875	5,625	5,625
Net income (loss) available to A. Schulman, Inc. common stockholders	$ 3,173	$ 13,903	$ 19,525	$ 18,122
Weighted-average number of shares outstanding:
Basic	29,501	29,421	29,482	29,392
Diluted	29,687	29,530	29,637	29,496
Basic earnings per share available to A. Schulman, Inc. common stockholders
Basic	$ 0.11	$ 0.47	$ 0.66	$ 0.62
Diluted earnings per share available to A. Schulman, Inc. common stockholders
Diluted	0.11	0.47	0.66	0.61
Cash dividends per common share	0.205	0.205	0.615	0.615
Cash dividends per share of convertible special stock	$ 15.00	$ 15.00	$ 45.00	$ 45.00

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2018	May 31, 2017
Operating Activities
Net income	$ 26,031	$ 24,615
Adjustments to reconcile net income to net cash provided from (used in) operating activities:
Depreciation	31,943	32,455
Amortization	25,779	26,381
Deferred tax provision (benefit)	(18,005)	(9,539)
Pension, postretirement benefits and other compensation	4,497	5,302
(Gain) loss on sale of assets	(3,077)	0
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(44,658)	(32,841)
Inventories	(32,758)	(32,694)
Accounts payable	30,207	64,795
Income taxes	168	(5,122)
Accrued payroll and other accrued liabilities	12,335	(1,131)
Other assets and long-term liabilities	940	1,345
Net cash provided from (used in) operating activities	33,402	73,566
Investing activities
Expenditures for property, plant and equipment	(20,785)	(30,719)
Proceeds from the sale of assets	6,514	2,750
Distributions from equity investees	125	125
Net cash provided from (used in) investing activities	(14,146)	(27,844)
Financing activities
Cash dividends paid to convertible special stockholders	(5,625)	(5,625)
Cash dividends paid to common stockholders	(18,300)	(18,129)
Increase (decrease) in short-term debt	(13,904)	(2,283)
Borrowings on long-term debt	592,688	283,943
Repayments on long-term debt including current portion	(577,607)	(295,708)
Noncontrolling interests' distributions	(20)	(53)
Issuances of stock, common and treasury	175	143
Redemptions of common stock	(1,225)	(711)
Net cash provided from (used in) financing activities	(23,818)	(38,423)
Effect of exchange rate changes on cash	2,545	496
Net increase (decrease) in cash, cash equivalents, and restricted cash	(2,017)	7,795
Cash, cash equivalents, and restricted cash at beginning of period	54,019	43,403
Cash, cash equivalents, and restricted cash at end of period	$ 52,002	$ 51,198