Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Jun. 30, 2014
USD ($)
Cash flows from operating activities:      
Net income $ 704,422 $ 366,158 $ 582,755
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 66,932 80,536 83,072
Asset impairment charges 1,396 2,126 1,374
Loss on extinguishment of debt and other, net 0 131,669 0
Non-cash stock-based compensation expense 45,050 55,302 60,940
Deferred income taxes 19,804 (24,245) 17,176
Excess tax benefit from equity awards (11,936) (15,403) (20,554)
Net gain on sale of marketable securities and other investments (5,887) (2,119) (5,920)
Changes in assets and liabilities, net of impact of acquisition of business:      
Decrease (increase) in accounts receivable, net (8,292) (118,520) 32,591
Decrease (increase) in inventories (67,579) 27,500 (26,173)
Decrease (increase) in other assets 14,613 11,135 (26,265)
Increase (decrease) in accounts payable 3,109 848 (12,333)
Increase (decrease) in deferred system profit 25,860 768 (10,042)
Increase (decrease) in other liabilities (27,796) 90,151 102,265
Net cash provided by operating activities 759,696 605,906 778,886
Cash flows from investing activities:      
Acquisition of non-marketable securities 0 0 (1,345)
Acquisition of business 0 0 (18,000)
Capital expenditures, net (31,741) (45,791) (67,502)
Proceeds from sale of assets 7,076 0 3,836
Purchases of available-for-sale securities (1,175,720) (1,731,551) (1,834,223)
Proceeds from sale of available-for-sale securities 737,817 1,993,396 987,512
Proceeds from maturity of available-for-sale securities 602,446 699,108 251,876
Purchases of trading securities (68,378) (60,808) (64,053)
Proceeds from sale of trading securities 73,187 63,867 65,790
Net cash provided by (used in) investing activities 144,687 918,221 (676,109)
Cash flows from financing activities:      
Proceeds from issuance of debt, net of issuance costs 0 3,224,906 0
Repayment of debt (135,000) (916,117) 0
Issuance of common stock 38,298 47,008 112,221
Tax withholding payments related to vested and released restricted stock units (23,942) (30,229) (51,948)
Common stock repurchases (181,711) (602,888) (240,843)
Payment of dividends to stockholders (346,283) (3,041,055) (298,871)
Excess tax benefit from equity awards 11,936 15,403 20,554
Net cash used in financing activities (636,702) (1,302,972) (458,887)
Effect of exchange rate changes on cash and cash equivalents 2,782 (13,991) 1,581
Net increase (decrease) in cash and cash equivalents 270,463 207,164 (354,529)
Cash and cash equivalents at beginning of period 838,025 630,861 985,390
Cash and cash equivalents at end of period 1,108,488 838,025 630,861
Supplemental cash flow disclosures:      
Income taxes paid, net 105,187 69,681 117,348
Interest paid 120,433 92,982 52,474
Non-cash activities:      
Purchase of land, property and equipment - investing activities 2,035 1,843 3,457
Unsettled common stock repurchase - financing activities 0 5,968 0
Dividends payable - financing activities $ 19,556 $ 42,002 $ 0