Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 64,710 $ 26,309
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 31,038 29,250
Costs recognized on sale of acquired inventory 582 2,133
Deferred income taxes (43,537) (4,384)
Stock-based compensation expense 8,839 7,245
Fair value adjustment to contingent consideration payable 19,900 12,400
Other operating activity 1,556 (1,286) [1]
Change in operating assets and operating liabilities, net of acquisition:    
Trade accounts and other receivables 18,636 (6,406)
Inventories (7,513) (2,497)
Prepaid expenses 1,321 235
Trade accounts payable and accrued expenses (4,736) 5,248
Salaries, wages and related accruals 454 (256)
Income taxes payable (7,372) (138)
Net cash provided by operating activities 83,878 67,853
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired (10,644) (255,929)
Proceeds from maturities of available-for-sale investments 6,563 1,592
Purchases of available-for-sale investments (3,061) (1,625)
Purchases of property and equipment (11,608) (5,295)
Purchase of equity investment (40,000)
Net cash used in investing activities (18,750) (301,257)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends (23,946) (23,871)
Proceeds from stock option exercises 6,699 2,105
Excess tax benefit from stock option exercises 305
Borrowings under line-of-credit agreement 25,000 368,410
Payments on line-of-credit (6,000) (116,500)
Payments of Contingent consideration (35,000)
Other financing (2,157) (171)
Net cash (used in) provided by financing activities (35,404) 230,278
Effect of exchange rate changes on cash and cash equivalents 122 (2,175)
Net increase (decrease) in cash and cash equivalents 29,846 (5,301)
Cash and cash equivalents at beginning of period 91,612 64,237
Cash and cash equivalents at end of period 121,458 58,936
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,630 3,405
Cash paid for income taxes $ 27,873 $ 21,828
[1] Does not cross-foot due to the retrospective adoption of the cash flow presentation of employee taxes paid for shares withheld as part of ASU 2016-09