Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:      
Net income $ 3,387,351 $ 3,322,060 $ 2,077,353
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 415,113 363,344 333,335
Loss on extinguishment of debt 13,286 0 0
Unrealized foreign exchange (gain) loss and other (17,825) 46,531 (19,441)
Asset impairment charges 9,905 5,962 842
Disposal of non-controlling interest 8,270 0 0
Stock-based compensation expense 171,424 126,918 111,836
Gain on sale of business (29,687) 0 (4,422)
Deferred income taxes (298,145) (329,501) (44,445)
Gain on fair value adjustment of marketable equity securities 0 0 (26,719)
Settlement of treasury lock agreement 0 82,799 0
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:      
Accounts receivable (48,534) (510,326) (203,155)
Inventories (749,047) (567,003) (270,100)
Other assets (121,018) (217,070) (96,218)
Accounts payable (144,661) 101,632 79,366
Deferred system revenue 150,750 213,368 (44,674)
Deferred service revenue 88,223 129,718 45,845
Other liabilities 834,400 544,270 245,623
Net cash provided by operating activities 3,669,805 3,312,702 2,185,026
Cash flows from investing activities:      
Proceeds from sale of assets 0 27,658 1,855
Net proceeds from sale of business 75,358 0 16,833
Business acquisitions, net of cash acquired (27,144) (479,113) 0
Capital expenditures (341,591) (307,320) (231,628)
Purchases of available-for-sale securities (1,441,933) (987,660) (1,018,744)
Proceeds from sale of available-for-sale securities 124,620 113,538 145,533
Proceeds from maturity of available-for-sale securities 1,134,182 760,548 581,679
Purchases of trading securities (96,611) (121,254) (107,867)
Proceeds from sale of trading securities 89,528 116,350 111,321
Proceeds from other investments 1,020 795 614
Net cash used in investing activities (482,571) (876,458) (500,404)
Cash flows from financing activities:      
Payment of debt issuance costs (6,515) 0 0
Proceeds from issuance of debt, net of issuance costs 0 2,967,409 40,343
Proceeds from revolving credit facility, net of costs 300,000 875,000 0
Repayment of debt (1,087,250) (620,000) (70,000)
Common stock repurchases (1,311,864) (3,967,806) (938,607)
Forward contract for accelerated share repurchases 0 (900,000) 0
Payment of dividends to stockholders (732,556) (638,528) (559,353)
Payment of dividends to subsidiary’s non-controlling interest holders 0 (602) 0
Issuance of common stock 124,847 113,014 86,098
Tax withholding payments related to vested and released restricted stock units (94,806) (84,371) (56,362)
Payment of contingent consideration payable (17,850) (1,121) 0
Purchase of non-controlling interest (4,295) 0 0
Net cash used in financing activities (2,830,289) (2,257,005) (1,497,881)
Effect of exchange rate changes on cash and cash equivalents (13,988) (28,941) 13,460
Net increase in cash and cash equivalents 342,957 150,298 200,201
Cash and cash equivalents at beginning of period 1,584,908 1,434,610 1,234,409
Cash and cash equivalents at end of period 1,927,865 1,584,908 1,434,610
Supplemental cash flow disclosures:      
Income taxes paid, net 495,101 464,526 326,002
Interest paid 223,955 154,673 154,196
Non-cash activities:      
Contingent consideration payable - financing activities (1,878) 16,281 (7,448)
Dividends payable - financing activities 7,903 7,028 6,285
Unsettled common stock repurchase - financing activities 11,000 0 6,000
Accrued purchase of land, property and equipment - investing activities $ 18,445 $ 19,595 $ 30,615