Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.0.814
Condensed Consolidated Statements of Cash Flows
$ in Thousands
 3 Months Ended
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
Cash flows from operating activities:    
Net income $ 104,897 $ 72,233
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,735 21,159
Non-cash stock-based compensation expense 12,248 15,483
Excess tax benefit from equity awards (10,159) (14,223)
Net gain on sales of marketable securities and other investments (1,233) (1,635)
Changes in assets and liabilities:    
Decrease in accounts receivable, net 124,925 39,261
Increase in inventories (31,243) (23,445)
Decrease (increase) in other assets 34,381 (2,732)
Increase in accounts payable 4,158 5,276
Decrease in deferred system profit (14,504) (59,122)
Decrease in other liabilities (49,423) (17,329)
Net cash provided by operating activities 193,782 34,926
Cash flows from investing activities:    
Capital expenditures, net (7,341) (13,445)
Purchases of available-for-sale securities (343,358) (624,860)
Proceeds from sale of available-for-sale securities 200,353 732,337
Proceeds from maturity of available-for-sale securities 184,973 135,097
Purchases of trading securities (18,267) (22,567)
Proceeds from sale of trading securities 15,540 18,986
Net cash provided by investing activities 31,900 225,548
Cash flows from financing activities:    
Repayment of debt (40,000) 0
Issuance of common stock 0 4,677
Tax withholding payments related to vested and released restricted stock units (21,526) (27,168)
Common stock repurchases (142,592) (124,839)
Payment of dividends to stockholders (101,674) (82,413)
Excess tax benefit from equity awards 10,159 14,223
Net cash used in financing activities (295,633) (215,520)
Effect of exchange rate changes on cash and cash equivalents (4,377) (6,132)
Net increase (decrease) in cash and cash equivalents (74,328) 38,822
Cash and cash equivalents at beginning of period 838,025 630,861
Cash and cash equivalents at end of period 763,697 669,683
Supplemental cash flow disclosures:    
Income taxes paid, net 7,844 20,361
Interest paid 3,149 136
Non-cash activities:    
Purchase of land, property and equipment - investing activities 1,490 3,571
Unsettled common stock repurchase - financing activities 9,610 5,844
Dividends payable - financing activities $ 20,892 $ 0