Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 23,907 $ 27,428
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 8,559 4,090
Costs recognized on sale of acquired inventory 3,167 1,731
Deferred income taxes (1,617) (1,329)
Stock-based compensation expense 1,362 569
Other 68 120
Change in operating assets and operating liabilities, net of acquisition:    
Trade accounts and other receivables 422 (106)
Inventories (2,326) (296)
Prepaid expenses 8 (305)
Trade accounts payable and accrued expenses (1,487) (828)
Salaries, wages and related accruals 2,528 1,420
Income taxes payable 1,127 91
Net cash provided by operating activities 35,718 32,585
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired (360,175) (103,049)
Purchase of available-for-sale investments 0 (27,010)
Proceeds from sales of available-for-sale investments 0 12,700
Proceeds from maturities of available-for-sale investments 9,880 16,090
Additions to property and equipment (4,905) (3,811)
Distributions from unconsolidated entities 446 85
Other 0 (138)
Net cash used in investing activities (354,754) (105,133)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends (11,472) (11,051)
Proceeds from stock option exercises 1,864 1,145
Excess tax benefit from stock option exercises 78 4
Borrowings under line-of-credit agreement 125,000 0
Payments on line-of-credit (13,000) 0
Net cash provided by (used in) financing activities 102,470 (9,902)
Effect of exchange rate changes on cash and cash equivalents (3,763) 2,520
Net decrease in cash and cash equivalents (220,329) (79,930)
Cash and cash equivalents at beginning of period 318,568 163,786
Cash and cash equivalents at end of period $ 98,239 $ 83,856