Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:      
Net earnings $ 104,476,000 $ 107,735,000 $ 110,948,000
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 42,764,000 37,226,000 19,175,000
Costs recognized on sale of acquired inventory 5,431,000 6,961,000 7,480,000
Deferred income taxes (2,624,000) 1,304,000 (2,853,000)
Stock-based compensation expense 9,430,000 5,957,000 3,523,000
Gain on sale of CyVek 0 (8,300,000) 0
Excess tax benefit from stock option exercises (566,000) (615,000) (262,000)
Other 0 458,000 592,000
Change in operating assets and liabilities, net of acquisitions:      
Trade accounts and other receivables (22,981,000) (11,747,000) 1,145,000
Inventories (6,626,000) (4,714,000) (2,895,000)
Prepaid expenses (381,000) (620,000) (554,000)
Trade accounts payable and accrued expenses 8,924,000 2,154,000 1,368,000
Salaries, wages and related accruals 5,725,000 1,679,000 1,034,000
Income taxes payable 298,000 1,881,000 (1,939,000)
Net cash provided by operating activities 143,870,000 139,359,000 136,762,000
Cash flows from investing activities:      
Purchase of available-for-sale investments 0 0 (106,746,000)
Proceeds from sale and maturities of available-for-sale investments 776,000 13,466,000 289,410,000
Additions to property and equipment (16,898,000) (19,905,000) (13,821,000)
Acquisitions, net of cash acquired (91,423,000) (420,102,000) (109,180,000)
Investment in unconsolidated entity 0 0 (10,000,000)
Other (25,000) 48,000 25,000
Net cash used in investing activities (107,570,000) (426,493,000) 49,688,000
Cash flows from financing activities:      
Cash dividends (47,607,000) (47,107,000) (45,394,000)
Proceeds from stock option exercises 5,458,000 9,731,000 8,326,000
Excess tax benefit from stock option exercises 566,000 615,000 262,000
Borrowings under line-of-credit agreement 77,000,000 163,000,000 0
Payment on line-of-credit and other (58,500,000) (94,964,000) 0
Net cash used in financing activities (23,083,000) (31,276,000) (36,806,000)
Effect of exchange rate changes on cash and cash equivalents (3,512,000) (8,178,000) 5,138,000
Net change in cash and cash equivalents 9,705,000 (264,036,000) 154,782,000
Cash and cash equivalents at beginning of year 54,532,000 318,568,000 163,786,000
Cash and cash equivalents at end of year $ 64,237,000 $ 54,532,000 $ 318,568,000