Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 6,724 $ 12,772
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 46,784 47,877
Stock-based compensation expense 8,978 8,612
Deferred tax provision 29 268
Gain on sale of assets, net (316) 0
Defined benefit plan settlement losses 0 1,271
Defined benefit plan settlement payments 0 (24,242)
Proceeds from the settlement of cash flow hedges 0 10,474
Changes in working capital items (35,609) (10,885)
Decrease in other assets 11,724 3,298
Decrease in other liabilities (7,782) (2,083)
Other operating activities, net (691) (2,651)
Net cash provided by operating activities 29,841 44,711
Cash flows from investing activities:    
Capital expenditures (24,033) (23,772)
Acquisitions, net of cash acquired (5,825) (7,586)
Other investing activities, net 95 155
Net cash used in investing activities (29,763) (31,203)
Cash flows from financing activities:    
Proceeds from long-term debt 491,142 414,843
Payments on long-term debt (449,509) (441,963)
Purchases of treasury stock (17,220) (2,739)
Dividends (16,691) (14,126)
Payments of debt issuance costs (4,704) 0
Other financing activities 0 (914)
Net cash provided by (used in) financing activities 3,018 (44,899)
Effect of exchange rate changes on cash 300 1,893
Net change in cash and cash equivalents 3,396 (29,498)
Cash and cash equivalents at beginning of year 42,101 71,414
Cash and cash equivalents at end of period $ 45,497 $ 41,916