Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:      
Net income $ 582,755 $ 543,149 $ 756,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 83,072 87,534 92,133
Asset impairment charges 1,374 1,327 2,878
Net gain on sale of assets 0 (1,160) 0
Non-cash stock-based compensation expense 60,940 70,084 78,835
Net gain on sale of marketable securities and other investments (5,920) (2,287) (637)
Deferred income taxes 17,176 4,532 193,412
Excess tax benefit from equity awards (20,554) (14,198) 0
Changes in assets and liabilities, net of impact of acquisition of business:      
Decrease (increase) in accounts receivable, net 32,591 159,245 (113,922)
Decrease (increase) in inventories (26,173) 14,787 (93,145)
Decrease (increase) in other assets (26,265) 6,035 58,041
Decrease in accounts payable (12,333) (22,812) (3,732)
Increase (decrease) in deferred system profit (10,042) 10,748 (45,121)
Increase in other liabilities 102,265 56,204 16,860
Net cash provided by operating activities 778,886 913,188 941,617
Cash flows from investing activities:      
Acquisition of non-marketable securities (1,345) 0 0
Acquisition of business (18,000) 0 0
Capital expenditures, net (67,502) (74,573) (57,596)
Proceeds from sale of assets 3,836 1,838 2,228
Purchase of available-for-sale securities (1,834,223) (1,588,093) (1,522,424)
Proceeds from sale of available-for-sale securities 987,512 1,117,511 871,811
Proceeds from maturity of available-for-sale securities 251,876 300,209 174,854
Purchase of trading securities (64,053) (40,850) (55,906)
Proceeds from sale of trading securities 65,790 42,511 58,142
Net cash used in investing activities (676,109) (241,447) (528,891)
Cash flows from financing activities:      
Issuance of common stock 112,221 126,121 163,569
Tax withholding payments related to vested and released restricted stock units (51,948) (29,682) (30,247)
Payment of dividends to stockholders (298,871) (265,893) (233,561)
Excess tax benefit from equity awards 20,554 14,198 0
Common stock repurchases (240,843) (273,254) (263,864)
Net cash used in financing activities (458,887) (428,510) (364,103)
Effect of exchange rate changes on cash and cash equivalents 1,581 (9,135) (8,658)
Net increase (decrease) in cash and cash equivalents (354,529) 234,096 39,965
Cash and cash equivalents at beginning of period 985,390 751,294 711,329
Cash and cash equivalents at end of period 630,861 985,390 751,294
Supplemental cash flow disclosures:      
Income taxes paid, net 117,348 120,342 20,018
Interest paid 52,474 53,693 54,523
Non-cash investing activities:      
Purchase of land, property and equipment $ 3,457 $ 6,839 $ 0