v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:      
Net earnings, including non-controlling interest $ 139,585 $ 229,296 $ 96,072
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 87,747 82,737 78,171
Costs recognized on sale of acquired inventory 1,565 0 3,739
Deferred income taxes (27,431) 13,130 (13,582)
Stock-based compensation expense 48,982 32,367 32,280
Fair value adjustment to contingent consideration payable 5,300 (905) (2,000)
Contingent consideration payments (337) (958) 0
(Gain) Loss on investment, net 0 0 (3,702)
Fair value adjustment on available for sale investments 67,879 (137,527) 16,067
Leases, net 75 225 0
Gain on escrow settlement 0 (7,170) 0
Other operating activity (464) (732) 2,325
Change in operating assets and liabilities, net of acquisitions:      
Trade accounts and other receivables (15,549) 6,556 (15,000)
Inventories (7,140) (14,861) (13,647)
Prepaid expenses (1,101) (2,605) (698)
Trade accounts payable and accrued expenses 19,091 10,343 6,101
Salaries, wages and related accruals 20,536 2,552 5,013
Income taxes payable 13,426 (7,231) (9,520)
Net cash provided by operating activities 352,164 205,217 181,619
Cash flows from investing activities:      
Proceeds from sale and maturities of available-for-sale investments 66,377 147,120 21,579
Purchase of available-for-sale investments (39,684) (70,187) (43,475)
Additions to property and equipment (44,301) (51,744) (25,411)
Acquisitions, net of cash acquired (225,352) 0 (289,492)
Investment in unconsolidated entity, net (556) 1,906 0
Other investing activities 0 0 0
Net cash provided by (used in) investing activities (243,516) 27,095 (336,799)
Cash flows from financing activities:      
Cash dividends (49,622) (48,902) (48,364)
Proceeds from stock option exercises 65,092 70,983 37,950
Re-purchases of common stock (43,178) (50,112) (15,405)
Borrowings under line-of-credit agreement 256,000 40,000 580,000
Payments on line-of-credit (271,500) (188,500) (413,500)
Contingent consideration payments 0 (3,400) 0
Other financing activities (19,343) (3,872) (6,297)
Net cash provided by (used in) financing activities (62,551) (183,802) 134,384
Effect of exchange rate changes on cash and cash equivalents 6,369 (2,771) (308)
Net change in cash and cash equivalents 52,466 45,739 (21,104)
Cash and cash equivalents at beginning of year 146,625 100,886 121,990
Cash and cash equivalents at end of year $ 199,091 $ 146,625 $ 100,886

Source