Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:      
Net income $ 1,215,025 $ 1,175,017 $ 802,265
Adjustments to reconcile net income to net cash provided by operating activities:      
Goodwill impairment 256,649 0 0
Depreciation and amortization 348,049 233,224 62,684
Loss on extinguishment of debt 22,538 0 0
Loss on unrealized foreign exchange and other 13,860 3,830 9,886
Other impairment charges 13,341 221 0
Stock-based compensation expense 111,381 94,194 62,784
Deferred income taxes (93,110) (27,511) 98,760
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:      
Accounts receivable (118,362) (146,151) (76,033)
Inventories (74,817) (59,561) (179,605)
Other assets (11,147) (47,123) (41,748)
Accounts payable 61,144 (21,627) 21,778
Deferred system revenue 57,687 (15,674) 0
Deferred service revenue 22,779 15,064 0
Deferred system profit 0 0 99,457
Other liabilities (24,649) (51,271) 368,892
Settlement of treasury lock agreement (21,518) 0 0
Net cash provided by operating activities 1,778,850 1,152,632 1,229,120
Cash flows from investing activities:      
Acquisition of non-marketable securities 0 (630) (3,377)
Business acquisitions, net of cash acquired (90,143) (1,818,283) (17,403)
Capital expenditures (152,675) (130,498) (66,947)
Proceeds from disposition of non-marketable securities 1,086 0 0
Purchases of available-for-sale securities (798,493) (81,533) (466,330)
Proceeds from sale of available-for-sale securities 148,969 256,395 233,259
Proceeds from maturity of available-for-sale securities 626,943 589,324 608,446
Purchases of trading securities (110,241) (81,022) (77,922)
Proceeds from sale of trading securities 115,680 85,265 81,892
Net cash (used in) provided by investing activities (258,874) (1,180,982) 291,618
Cash flows from financing activities:      
Proceeds from issuance of debt, net of issuance costs 741,832 1,183,785 0
Proceeds from revolving credit facility, net of costs 450,000 900,000 248,693
Repayment of debt (1,171,033) (902,474) (946,250)
Common stock repurchases (829,084) (1,095,202) (203,169)
Payment of dividends to stockholders (522,421) (472,263) (402,065)
Payment of dividends to subsidiary's non-controlling interest holders (1,239) 0 0
Issuance of common stock 75,634 64,828 61,444
Tax withholding payments related to vested and released restricted stock units (46,260) (37,517) (28,756)
Contingent consideration payable and other, net 2,936 (1,162) 0
Net cash used in financing activities (1,299,635) (360,005) (1,270,103)
Effect of exchange rate changes on cash and cash equivalents (1,926) (33) 696
Net (decrease) increase in cash and cash equivalents 218,415 (388,388) 251,331
Cash and cash equivalents at beginning of period 1,015,994 1,404,382 1,153,051
Cash and cash equivalents at end of period 1,234,409 1,015,994 1,404,382
Supplemental cash flow disclosures:      
Income taxes paid, net 194,583 180,470 253,128
Interest paid 152,651 107,073 114,238
Non-cash activities:      
Issuance of common stock for the acquisition of Orbotech - financing activities 0 1,330,786 0
Contingent consideration payable - financing activities 5,326 6,905 0
Dividends payable - financing activities 5,978 7,340 9,571
Business acquisition holdback amounts - investing activities 0 440 0
Unsettled common stock repurchase - financing activities 0 8,000 0
Accrued purchase of land, property and equipment - investing activities $ 15,843 $ 6,353 $ 7,418