Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:      
Net earnings $ 112,561 $ 112,331 $ 112,302
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 12,321 12,467 8,700
Costs recognized on sale of acquired inventory 4,501 7,573 1,835
Deferred income taxes (2,534) (7,363) 3,194
Stock-based compensation expense 1,864 1,641 1,138
Excess tax benefit from stock option exercises (75) (51) (847)
Impairment losses on investments 0 3,254 0
Net (gain) loss from equity method investees (570) 603 926
Other 763 230 225
Change in operating assets and liabilities, net of acquisitions:      
Trade accounts and other receivables (2,334) (2,096) (3,624)
Inventories (2,216) (1,577) (1,021)
Prepaid expenses (33) (476) 256
Trade accounts payable and accrued expenses 243 1,581 (591)
Salaries, wages and related accruals (92) 686 1,268
Income taxes payable (837) (2,057) 3,433
Net cash provided by operating activities 123,562 126,746 127,194
Cash flows from investing activities:      
Purchase of available-for-sale investments (112,712) (147,011) (151,366)
Proceeds from sale of available-for-sale investments 41,507 64,291 134,019
Proceeds from maturities of available-for-sale investments 62,103 67,435 39,501
Additions to property and equipment (22,454) (6,017) (3,630)
Distribution from unconsolidated entity 1,095 463 0
Acquisitions, net of cash acquired 0 0 (131,766)
Increase in other long-term assets (743) (829) (943)
Net cash used in investing activities (31,204) (21,668) (114,185)
Cash flows from financing activities:      
Cash dividends (43,463) (41,018) (39,691)
Proceeds from stock option exercises 1,105 847 4,790
Excess tax benefit from stock option exercises 75 51 847
Purchase of common stock for stock bonus plans (573) (907) (294)
Repurchase of common stock (1,821) (23,598) (1,940)
Net cash used in financing activities (44,677) (64,625) (36,288)
Effect of exchange rate changes on cash and cash equivalents (570) (1,391) 6,753
Net change in cash and cash equivalents 47,111 39,062 (16,526)
Cash and cash equivalents at beginning of year 116,675 77,613 94,139
Cash and cash equivalents at end of year $ 163,786 $ 116,675 $ 77,613