Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:        
Net income $ 1,175,017   $ 802,265 $ 926,076
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 233,224   62,684 57,836
Loss (gains) on unrealized foreign exchange and other 4,051   9,886 (4,173)
Stock-based compensation expense 94,194   62,784 50,943
Deferred income taxes (27,511)   98,760 4,007
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:        
Accounts receivable (146,151) $ (354,235) (76,033) 39,750
Inventories (59,561)   (179,605) (46,549)
Other assets (47,123)   (41,748) (25,961)
Accounts payable (21,627)   21,778 39,968
Deferred system revenue (15,674)   0 0
Deferred service revenue 15,064   0 0
Deferred system profit 0   99,457 6,310
Other liabilities (51,271)   368,892 31,458
Net cash provided by operating activities 1,152,632   1,229,120 1,079,665
Cash flows from investing activities:        
Acquisition of non-marketable securities (630)   (3,377) (3,430)
Business acquisitions, net of cash acquired (1,818,283)   (17,403) (28,560)
Capital expenditures (130,498)   (66,947) (38,594)
Proceeds from sale of assets 0   0 2,947
Purchases of available-for-sale securities (81,533)   (466,330) (1,626,983)
Proceeds from sale of available-for-sale securities 256,395   233,259 434,873
Proceeds from maturity of available-for-sale securities 589,324   608,446 699,293
Purchases of trading securities (81,022)   (77,922) (97,525)
Proceeds from sale of trading securities 85,265   81,892 97,093
Net cash (used in) provided by investing activities (1,180,982)   291,618 (560,886)
Cash flows from financing activities:        
Proceeds from issuance of debt, net of issuance costs 1,183,785   0 0
Proceeds from revolving credit facility, net of debt issuance costs 900,000   248,693 0
Repayment of debt (902,474)   (946,250) (130,000)
Common stock repurchases (1,095,202)   (203,169) (25,002)
Payment of dividends to stockholders (472,263)   (402,065) (343,993)
Issuance of common stock 64,828   61,444 45,359
Tax withholding payments related to vested and released restricted stock units (37,517)   (28,756) (19,169)
Payment of contingent consideration payable (1,162)   0 0
Net cash used in financing activities (360,005)   (1,270,103) (472,805)
Effect of exchange rate changes on cash and cash equivalents (33)   696 (1,411)
Net (decrease) increase in cash and cash equivalents (388,388)   251,331 44,563
Cash and cash equivalents at beginning of period 1,404,382   1,153,051 1,108,488
Cash and cash equivalents at end of period 1,015,994 1,015,994 1,404,382 1,153,051
Supplemental cash flow disclosures:        
Income taxes paid, net 180,470   253,128 234,053
Interest paid 107,073   114,238 119,998
Non-cash activities:        
Issuance of common stock for the acquisition of Orbotech - financing activities 1,330,786   0 0
Contingent consideration payable - financing activities 6,905   0 0
Dividends payable - financing activities 7,340 $ 7,340 9,571 13,772
Business acquisition holdback amounts - investing activities 440   0 5,318
Unsettled common stock repurchase - financing activities 8,000   0 0
Accrued purchase of land, property and equipment - investing activities $ 6,353   $ 7,418 $ 3,299