Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 669,914 $ 432,881
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43,512 52,044
Asset impairment charges 358 1,396
Non-cash stock-based compensation expense 36,458 32,758
Excess tax benefit from equity awards 0 (12,176)
Net gain on sales of marketable securities and other investments (832) (4,105)
Changes in assets and liabilities:    
Increase in accounts receivable, net (127,136) (29,692)
Increase in inventories (13,969) (93,976)
Decrease (increase) in other assets (27,589) 4,659
Increase in accounts payable 33,256 22,956
Increase in deferred system profit 14,965 44,528
Decrease in other liabilities (11,909) (45,670)
Net cash provided by operating activities 617,028 405,603
Cash flows from investing activities:    
Acquisition of non-marketable securities (2,370) 0
Capital expenditures, net (27,926) (24,233)
Proceeds from sale of assets 2,582 4,026
Purchases of available-for-sale securities (1,212,600) (873,987)
Proceeds from sale of available-for-sale securities 364,430 632,207
Proceeds from maturity of available-for-sale securities 471,724 472,437
Purchases of trading securities (87,831) (48,248)
Proceeds from sale of trading securities 85,464 51,738
Net cash provided by (used in) investing activities (406,527) 213,940
Cash flows from financing activities:    
Repayment of debt (105,000) (95,000)
Issuance of common stock 23,694 21,910
Tax withholding payments related to vested and released restricted stock units (19,169) (23,723)
Common stock repurchases 0 (181,711)
Payment of dividends to stockholders (259,356) (265,163)
Excess tax benefit from equity awards 0 12,176
Net cash used in financing activities (359,831) (531,511)
Effect of exchange rate changes on cash and cash equivalents (3,351) (83)
Net increase (decrease) in cash and cash equivalents (152,681) 87,949
Cash and cash equivalents at beginning of period 1,108,488 838,025
Cash and cash equivalents at end of period 955,807 925,974
Supplemental cash flow disclosures:    
Income taxes paid, net 190,165 81,779
Interest paid 63,133 63,342
Non-cash activities:    
Purchase of land, property and equipment, net - investing activities 3,218 2,311
Dividends payable - financing activities $ 12,643 $ 18,827