v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 79,612 $ 84,449
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 58,252 47,311
Costs recognized on sale of acquired inventory 2,804 2,013
Deferred income taxes (11,114) (48,030)
Stock-based compensation expense 24,151 13,587
Fair value adjustment to contingent consideration payable (1,100) 20,100
Payments of contingent consideration (26,200)
Impairment of investment 16,226
Fair value adjustment on available for sale investments (2,907)
Other operating activity 2,255 1,664
Change in operating assets and operating liabilities, net of acquisition:    
Accounts receivable (13,136) 9,399
Inventories (11,550) (11,576)
Prepaid expenses (1,000) 858
Trade accounts payable and accrued expenses 7,977 1,665
Salaries, wages and related accruals (102) (4,159)
Income taxes payable (8,469) (1,779)
Net cash provided by operating activities 125,673 105,528
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired (272,286) (65,066)
Proceeds from maturities of available-for-sale investments 17,215 6,563
Purchases of available-for-sale investments (37,693) (3,061)
Purchases of property and equipment (13,719) (15,116)
Net cash used in investing activities (306,483) (76,680)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends (36,237) (35,941)
Proceeds from stock option exercises 27,029 13,724
Re-purchases of common stock (15,405)
Borrowings under credit agreement 580,000 55,000
Payments on credit agreement (396,375) (6,000)
Payments of contingent consideration (58,800)
Other financing (4,731) (4,339)
Net cash provided by (used in) financing activities 154,281 (36,356)
Effect of exchange rate changes on cash and cash equivalents 99 2,504
Net increase (decrease) in cash and cash equivalents (26,429) (5,004)
Cash and cash equivalents at beginning of period 121,990 91,612
Cash and cash equivalents at end of period 95,561 86,608
Supplemental disclosure of cash flow information:    
Cash paid for interest 16,110 6,877
Cash paid for income taxes $ 26,637 $ 31,103

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