|
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 |
$ 37,707 |
$ 46,539 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
67,273 |
66,676 |
| Non-cash employee stock compensation expense |
3,660 |
1,289 |
| Gain on distribution to non-controlling interest |
|
(259) |
| Amortization of debt discount |
7,624 |
7,138 |
| Impairment of royalty and stream interests |
28,339 |
|
| Tax benefit of stock-based compensation exercises |
(74) |
(320) |
| Deferred tax benefit |
(34,199) |
(13,002) |
| Changes in assets and liabilities: |
|
|
| Royalty receivables |
7,168 |
8,175 |
| Prepaid expenses and other assets |
4,471 |
12,329 |
| Accounts payable |
(1,742) |
194 |
| Foreign withholding taxes payable |
(2,001) |
(11,533) |
| Income taxes payable (receivable) |
25,191 |
(4,551) |
| Other liabilities |
4,777 |
2,411 |
| Net cash provided by operating activities |
148,194 |
115,086 |
| Cash flows from investing activities: |
|
|
| Acquisition of royalty and stream interests |
(60,341) |
(79,692) |
| Tulsequah stream termination |
10,000 |
|
| Other |
(71) |
227 |
| Net cash used in investing activities |
(50,412) |
(79,465) |
| Cash flows from financing activities: |
|
|
| Net proceeds from issuance of common stock |
775 |
561 |
| Common stock dividends |
(41,712) |
(39,706) |
| Purchase of additional royalty interest from non-controlling interest |
|
(11,522) |
| Debt issuance costs |
|
(1,284) |
| Distribution to non-controlling interests |
(1,227) |
(1,913) |
| Tax expense of stock-based compensation exercises |
74 |
320 |
| Net cash used in financing activities |
(42,090) |
(53,544) |
| Net increase (decrease) in cash and equivalents |
55,692 |
(17,923) |
| Cash and equivalents at beginning of period |
659,536 |
664,035 |
| Cash and equivalents at end of period |
$ 715,228 |
$ 646,112 |