Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:      
Net income $ 2,077,353 $ 1,215,025 $ 1,175,017
Adjustments to reconcile net income to net cash provided by operating activities:      
Goodwill impairment 0 256,649 0
Depreciation and amortization 333,335 348,049 233,224
Loss on extinguishment of debt 0 22,538 0
Unrealized foreign exchange (gain) loss and other (19,441) 13,860 3,830
Asset impairment charges 842 13,341 221
Stock-based compensation expense 111,836 111,381 94,194
Deferred income taxes (44,445) (93,110) (27,511)
Gain on sale of business (4,422) 0 0
Gain on fair value adjustment of marketable equity securities (26,719) 0 0
Settlement of treasury lock agreement 0 (21,518) 0
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:      
Accounts receivable (203,155) (118,362) (146,151)
Inventories (270,100) (74,817) (59,561)
Other assets (96,218) (11,147) (47,123)
Accounts payable 79,366 61,144 (21,627)
Deferred system revenue (44,674) 57,687 (15,674)
Deferred service revenue 45,845 22,779 15,064
Other liabilities 245,623 (24,649) (51,271)
Net cash provided by operating activities 2,185,026 1,778,850 1,152,632
Cash flows from investing activities:      
Acquisition of non-marketable securities 0 0 (630)
Proceeds from sale of assets 1,855 0 0
Proceeds from sale of business 16,833 0 0
Business acquisitions, net of cash acquired 0 (90,143) (1,818,283)
Capital expenditures (231,628) (152,675) (130,498)
Purchases of available-for-sale securities (1,018,744) (798,493) (81,533)
Proceeds from sale of available-for-sale securities 145,533 148,969 256,395
Proceeds from maturity of available-for-sale securities 581,679 626,943 589,324
Purchases of trading securities (107,867) (110,241) (81,022)
Proceeds from sale of trading securities 111,321 115,680 85,265
Proceeds from other investments 614 1,086 0
Net cash used in investing activities (500,404) (258,874) (1,180,982)
Cash flows from financing activities:      
Proceeds from issuance of debt, net of issuance costs 40,343 741,832 1,183,785
Proceeds from revolving credit facility, net of costs 0 450,000 900,000
Repayment of debt (70,000) (1,171,033) (902,474)
Common stock repurchases (938,607) (829,084) (1,095,202)
Payment of dividends to stockholders (559,353) (522,421) (472,263)
Payment of dividends to subsidiary’s non-controlling interest holders 0 (1,239) 0
Issuance of common stock 86,098 75,634 64,828
Tax withholding payments related to vested and released restricted stock units (56,362) (46,260) (37,517)
Contingent consideration payable and other, net 0 2,936 (1,162)
Net cash used in financing activities (1,497,881) (1,299,635) (360,005)
Effect of exchange rate changes on cash and cash equivalents 13,460 (1,926) (33)
Net (decrease) increase in cash and cash equivalents 200,201 218,415 (388,388)
Cash and cash equivalents at beginning of period 1,234,409 1,015,994 1,404,382
Cash and cash equivalents at end of period 1,434,610 1,234,409 1,015,994
Supplemental cash flow disclosures:      
Income taxes paid, net 326,002 204,685 180,470
Interest paid 154,196 152,651 107,073
Non-cash activities:      
Issuance of common stock for the Orbotech Acquisition - financing activities 0 0 1,330,786
Contingent consideration payable - financing activities (7,448) 5,326 6,905
Dividends payable - financing activities 6,285 5,978 7,340
Business acquisition holdback amounts - investing activities 0 0 440
Unsettled common stock repurchase - financing activities 6,000 0 8,000
Accrued purchase of land, property and equipment - investing activities $ 30,615 $ 15,843 $ 6,353