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
 12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:      
Net income $ 366,158 $ 582,755 $ 543,149
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 80,536 83,072 87,534
Asset impairment charges 2,126 1,374 1,327
Loss on extinguishment of debt and other, net 131,669 0 0
Net gain on sale of assets 0 0 (1,160)
Non-cash stock-based compensation expense 55,302 60,940 70,084
Deferred income taxes (24,245) 17,176 4,532
Excess tax benefit from equity awards (15,403) (20,554) (14,198)
Net gain on sale of marketable securities and other investments (2,119) (5,920) (2,287)
Changes in assets and liabilities, net of impact of acquisition of business:      
Decrease (increase) in accounts receivable, net (118,520) 32,591 159,245
Decrease (increase) in inventories 27,500 (26,173) 14,787
Decrease (increase) in other assets 11,135 (26,265) 6,035
Increase (decrease) in accounts payable 848 (12,333) (22,812)
Increase (decrease) in deferred system profit 768 (10,042) 10,748
Increase in other liabilities 90,151 102,265 56,204
Net cash provided by operating activities 605,906 778,886 913,188
Cash flows from investing activities:      
Acquisition of non-marketable securities 0 (1,345) 0
Acquisition of business 0 (18,000) 0
Capital expenditures, net (45,791) (67,502) (74,573)
Proceeds from sale of assets 0 3,836 1,838
Purchase of available-for-sale securities (1,731,551) (1,834,223) (1,588,093)
Proceeds from sale of available-for-sale securities 1,993,396 987,512 1,117,511
Proceeds from maturity of available-for-sale securities 699,108 251,876 300,209
Purchase of trading securities (60,808) (64,053) (40,850)
Proceeds from sale of trading securities 63,867 65,790 42,511
Net cash provided by (used in) investing activities 918,221 (676,109) (241,447)
Cash flows from financing activities:      
Proceeds from issuance of debt, net of issuance costs 3,224,906 0 0
Repayment of debt (916,117) 0 0
Issuance of common stock 47,008 112,221 126,121
Tax withholding payments related to vested and released restricted stock units (30,229) (51,948) (29,682)
Common stock repurchases (602,888) (240,843) (273,254)
Payment of dividends to stockholders (3,041,055) (298,871) (265,893)
Excess tax benefit from equity awards 15,403 20,554 14,198
Net cash used in financing activities (1,302,972) (458,887) (428,510)
Effect of exchange rate changes on cash and cash equivalents (13,991) 1,581 (9,135)
Net increase (decrease) in cash and cash equivalents 207,164 (354,529) 234,096
Cash and cash equivalents at beginning of period 630,861 985,390 751,294
Cash and cash equivalents at end of period 838,025 630,861 985,390
Supplemental cash flow disclosures:      
Income taxes paid, net 69,681 117,348 120,342
Interest paid 92,982 52,474 53,693
Non-cash activities:      
Purchase of land, property and equipment - investing activities 1,843 3,457 6,839
Dividends payable - financing activities $ 42,002 $ 0 $ 0