3 
 
CONSOLIDATED BALANCE SHEETS 
(In thousands) 
 
June 30,  2012  2011-- 
Assets     
Current assets     
Cash and cash equivalents  $ 78,442   $ 91,092  
Accounts receivable, less allowances of $8,332 and $7,016  307,043   290,751  
Inventories  228,506   204,066  
Other current assets  51,771   33,005  
Total current assets  665,762   618,914  
Property —  at cost     
Land  10,245   10,428  
Buildings  74,477   73,399  
Equipment, including computers and software  147,004   129,117  
Total Property —  at cost  231,726   212,944  
Less accumulated depreciation  148,623   143,930  
Property —  net  83,103   69,014  
Intangibles, net  84,840   89,551  
Goodwill  83,080   76,981  
Deferred tax assets  26,424   43,447  
Other assets  18,974   17,024  
Total Assets  $ 962,183   $ 914,931  
Liabilities     
Current liabilities     
Accounts payable  $ 120,890   $ 108,509  
Compensation and related benefits  63,149   65,413  
Other current liabilities  46,130   40,766  
Total current liabilities  230,169   214,688  
Postemployment benefits  39,750   47,730  
Other liabilities  20,133   18,950  
Total Liabilities  290,052   281,368  
Shareholders’ Equity     
Preferred stock —  no par value; 2,500 shares authorized; none issued or outstanding     
Common stock —  no par value; 80,000 shares authorized; 54,213 shares issued  10,000   10,000  
Additional paid-in capital  150,070   148,307  
Income retained for use in the business  743,360   668,421  
Treasury shares —  at cost (12,246 and 11,611 shares)  (226,730 )  (198,224 ) 
Accumulated other comprehensive income (loss)  (4,569 )  5,059  
Total Shareholders’ Equity  672,131   633,563  
Total Liabilities and Shareholders’ Equity  $ 962,183   $ 914,931  
 
See notes to consolidated financial statements. 
  
 
4 
 
STATEMENTS OF CONSOLIDATED CASH FLOWS 
(In thousands) 
 
Year Ended June 30,  2012  2011--  2010-- 
Cash Flows from Operati ng Activities       
Net income  $ 108,779   $ 96,759   $ 65,903  
Adjustments to reconcile net income to net cash provided by operating activities:       
Depreciation and amortization of property  11,236   11,234   11,465  
Amortization of intangibles  11,465   11,382   10,151  
Amortization of stock appreciation rights and options  2,058   2,473   3,020  
Deferred income taxes  8,641   4,784   2,408  
Provision for losses on accounts receivable  3,915   2,029   2,508  
Unrealized foreign exchange transaction losses (gains)  1,298   —    (4 ) 
Other share-based compensation expense  4,592   3,379   2,361  
Gain on sale of property  (627 )  (765 )  (198 ) 
Changes in assets and liabilities, net of acquisitions:       
Accounts receivable  (22,748 )  (36,271 )  (48,578 ) 
Inventories  (28,511 )  (21,197 )  83,497  
Other operating assets  (14,735 )  (11,185 )  17,408  
Accounts payable  14,157   12,926   13,566  
Other operating liabilities  (9,098 )  1,294   20,817  
Net Cash provided by Operati ng Activities  90,422   76,842   184,324  
Cash Flows from Investing Activities       
Property purchases  (26,021 )  (20,431 )  (7,216 ) 
Proceeds from property sales  1,258   1,326   532  
Net cash paid for acquisition of businesses, net of cash acquired of $38 and $168 in 2012 and 
2011, respectively  (14,671 )  (30,504 )  (100 ) 
Other  —   1,722   —   
Net Cash used in Investing Activities  (39,434 )  (47,887 )  (6,784 ) 
Cash Flows from Financi ng Activities       
Repayments under revolving credit facility  —   (50,000 )  (5,000 ) 
Long-term debt repayment  —   (25,000 )  —   
Settlements of cross-currency swap agreements  —   (12,752 )  —   
Purchases of treasury shares  (31,032 )  (6,085 )  (3,929 ) 
Dividends paid  (33,800 )  (29,751 )  (25,416 ) 
Excess tax benefits from share-based compensation  3,695   6,404   2,492  
Exercise of stock appreciation rights and options  321   661   1,339  
Net Cash used in Financing Activities  (60,816 )  (116,523 )  (30,514 ) 
Effect of Exchange Rate Changes on Cash  (2,822 )  2,883   1,109