|
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
9 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 269,347 |
$ 191,466 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
114,809 |
97,302 |
| Deferred income taxes |
29,767 |
33,103 |
| (Gain) loss on disposition of assets |
(890) |
243 |
| Share-based compensation |
27,707 |
22,380 |
| Excess tax benefit from share-based compensation |
(3,204) |
(1,877) |
| Non-cash interest expense |
2,242 |
1,635 |
| Non-cash increase in contingent consideration |
1,016 |
0 |
| (Increase) decrease in: |
|
|
| Receivables, net |
(142,805) |
(189,074) |
| Inventories |
(139,094) |
(97,582) |
| Other current assets |
(42,251) |
4,959 |
| Pre-production and development costs |
(8,395) |
8,656 |
| Increase (decrease) in: |
|
|
| Accounts payable |
182,498 |
134,624 |
| Accrued warranties |
29,573 |
22,756 |
| Accrued other liabilities |
78,978 |
67,527 |
| Income taxes payable |
9,662 |
9,034 |
| Net change in derivative assets and liabilities |
(66,283) |
20,922 |
| Other operating activities |
(37,302) |
(534) |
| Net cash provided by operating activities |
305,375 |
325,540 |
| Cash flows from investing activities: |
|
|
| Maturities of short-term investments |
0 |
10,008 |
| Acquisitions, net of cash received |
(118,021) |
(21,900) |
| Proceeds from asset dispositions |
4,548 |
0 |
| Capital expenditures |
(108,488) |
(92,516) |
| Other items, net |
549 |
(66) |
| Net cash used in investing activities |
(221,412) |
(104,474) |
| Cash flows from financing activities: |
|
|
| (Decrease) increase in short-term borrowings |
(963) |
10,656 |
| Repayments of long-term debt |
(255,000) |
(22,500) |
| Repayments under revolving credit facility |
(288,610) |
0 |
| Borrowings under new revolving credit facility |
593,448 |
0 |
| Cash dividends to shareholders |
(68,631) |
(61,770) |
| Repurchase of common stock |
0 |
(84,448) |
| Exercise of stock options |
23,066 |
47,752 |
| Repurchases related to share-based compensation arrangements |
(22,272) |
(12,311) |
| Excess tax benefit from share-based compensation |
3,204 |
1,877 |
| Debt issuance costs |
(3,019) |
0 |
| Payment of contingent consideration |
(327) |
0 |
| Other items, net |
4,632 |
1,171 |
| Net cash used in financing activities |
(14,472) |
(119,573) |
| Effect of exchange rate changes on cash |
(58,444) |
11,122 |
| Net increase in cash and cash equivalents |
11,047 |
112,615 |
| Cash and cash equivalents at beginning of period |
581,312 |
454,258 |
| Cash and cash equivalents at end of period |
592,359 |
566,873 |
| Supplemental disclosure of cash flow information: |
|
|
| Interest paid, net |
6,363 |
5,014 |
| Income taxes paid |
13,290 |
19,611 |
| Non-cash investing activities: |
|
|
| Accrued and contingent acquisition-related liabilities |
31,003 |
958 |
| Common stock issued in connection with the acquisition of Redbend |
$ 124,253 |
$ 0 |