Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Cash flows from operating activities:      
Net income $ 926,076 $ 704,422 $ 366,158
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 57,836 66,932 80,536
Asset impairment charges 358 1,396 2,126
Loss on extinguishment of debt and other, net 0 0 131,669
Non-cash stock-based compensation expense 50,943 45,050 55,302
Deferred income taxes 4,007 19,804 (24,245)
Excess tax benefit from equity awards 0 (11,936) (15,403)
Net gain on sales of marketable securities and other investments (1,207) (5,887) (2,119)
Changes in assets and liabilities, net of business acquisition:      
Decrease (increase) in accounts receivable, net 39,898 (8,292) (118,520)
Decrease (increase) in inventories (46,433) (67,579) 27,500
Decrease (increase) in other assets (26,596) 14,613 11,135
Increase in accounts payable 40,100 3,109 848
Increase in deferred system profit 6,310 25,860 768
Increase (decrease) in other liabilities 28,373 (27,796) 90,151
Net cash provided by operating activities 1,079,665 759,696 605,906
Cash flows from investing activities:      
Acquisition of non-marketable securities (3,430) 0 0
Business acquisition, net of cash acquired (28,560) 0 0
Capital expenditures, net (38,594) (31,741) (45,791)
Proceeds from sale of assets 2,947 7,076 0
Purchases of available-for-sale securities (1,626,983) (1,175,720) (1,731,551)
Proceeds from sale of available-for-sale securities 434,873 737,817 1,993,396
Proceeds from maturity of available-for-sale securities 699,293 602,446 699,108
Purchases of trading securities (97,525) (68,378) (60,808)
Proceeds from sale of trading securities 97,093 73,187 63,867
Net cash provided by (used in) investing activities (560,886) 144,687 918,221
Cash flows from financing activities:      
Proceeds from issuance of debt, net of issuance costs 0 0 3,224,906
Repayment of debt (130,000) (135,000) (916,117)
Issuance of common stock 45,359 38,298 47,008
Tax withholding payments related to vested and released restricted stock units (19,169) (23,942) (30,229)
Common stock repurchases (25,002) (181,711) (602,888)
Payment of dividends to stockholders (343,993) (346,283) (3,041,055)
Excess tax benefit from equity awards 0 11,936 15,403
Net cash used in financing activities (472,805) (636,702) (1,302,972)
Effect of exchange rate changes on cash and cash equivalents (1,411) 2,782 (13,991)
Net increase in cash and cash equivalents 44,563 270,463 207,164
Cash and cash equivalents at beginning of period 1,108,488 838,025 630,861
Cash and cash equivalents at end of period 1,153,051 1,108,488 838,025
Supplemental cash flow disclosures:      
Income taxes paid, net 234,053 105,187 69,681
Interest paid 119,998 120,433 92,982
Non-cash activities:      
Purchase of land, property and equipment - investing activities 3,299 2,035 1,843
Business acquisition holdback amounts- investing activities 5,318 0 0
Unsettled common stock repurchase - financing activities 0 0 5,968
Dividends payable - financing activities $ 13,772 $ 19,556 $ 42,002