v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:      
Net earnings $ 126,150 $ 76,086 $ 104,476
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 64,463 60,036 42,764
Costs recognized on sale of acquired inventory 2,455 3,037 5,431
Deferred income taxes (46,716) (3,433) (2,624)
Stock-based compensation expense 28,240 14,631 9,430
Fair value adjustment to contingent consideration payable 20,100 18,400
Contingent consideration (26,600) (11,800)
Gain on investment, net (397)
Other operating activity 776 2,215 (279)
Change in operating assets and liabilities, net of acquisitions:      
Trade accounts and other receivables (2,700) (19,686) (22,981)
Inventories (13,327) (732) (6,626)
Prepaid expenses 2,782 (2,088) (381)
Trade accounts payable and accrued expenses 5,026 5,695 8,924
Salaries, wages and related accruals (89) 661 5,725
Income taxes payable 10,204 699 298
Net cash provided by operating activities 170,367 143,721 144,157
Cash flows from investing activities:      
Proceeds from sale and maturities of available-for-sale investments 36,390 6,079 776
Purchase of available-for-sale investments (8,571) (3,069)
Additions to property and equipment (20,934) (15,179) (16,898)
Acquisitions, net of cash acquired (67,851) (253,785) (91,423)
Investment in unconsolidated entity 21,574 (40,000)
Other investing activities 680 (25)
Net cash used in investing activities (38,712) (305,954) (107,570)
Cash flows from financing activities:      
Cash dividends (47,973) (47,325) (47,607)
Proceeds from stock option exercises 19,170 5,257 5,458
Excess tax benefit from stock option exercises 514 566
Borrowings under line-of-credit agreement 55,000 368,500 77,000
Payments on line-of-credit (59,500) (116,500) (58,500)
Contingent consideration (61,900) (20,316)
Other financing activities (3,985) (1,017) (287)
Net cash provided by (used in) financing activities (99,188) 189,113 (23,370)
Effect of exchange rate changes on cash and cash equivalents (2,089) 495 (3,512)
Net change in cash and cash equivalents 30,378 27,375 9,705
Cash and cash equivalents at beginning of year 91,612 64,237 54,532
Cash and cash equivalents at end of year $ 121,990 $ 91,612 $ 64,237

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