Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net earnings |
$ 16,281,000
|
$ 22,707,000
|
| Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
13,644,000
|
10,685,000
|
| Costs recognized on sale of acquired inventory |
4,219,000
|
1,113,000
|
| Deferred income taxes |
(1,170,000)
|
(1,115,000)
|
| Stock-based compensation expense |
3,176,000
|
2,038,000
|
| Fair value adjustment to contingent consideration payable |
1,900,000
|
|
| Other |
262,000
|
26,000
|
| Change in operating assets and operating liabilities, net of acquisition: |
|
|
| Trade accounts and other receivables |
(10,176,000)
|
(3,763,000)
|
| Inventories |
(2,414,000)
|
(3,176,000)
|
| Prepaid expenses |
605,000
|
(766,000)
|
| Trade accounts payable and accrued expenses |
4,132,000
|
(416,000)
|
| Salaries, wages and related accruals |
(7,257,000)
|
(1,704,000)
|
| Income taxes payable |
2,850,000
|
6,204,000
|
| Net cash provided by operating activities |
26,502,000
|
31,833,000
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Acquisitions, net of cash acquired |
(259,004,000)
|
(82,970,000)
|
| Proceeds from available-for-sale investments |
|
3,930,000
|
| Purchases of available for sale investments |
(6,836,000)
|
|
| Additions to property and equipment |
(2,442,000)
|
(6,121,000)
|
| Net cash used in investing activities |
(268,282,000)
|
(85,161,000)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Cash dividends |
(11,932,000)
|
(11,894,000)
|
| Proceeds from stock option exercises |
2,026,000
|
1,128,000
|
| Excess tax benefit from stock option exercises |
253,000
|
131,000
|
| Borrowings under line-of-credit agreement |
343,500,000
|
77,000,000
|
| Payments on line-of-credit |
(91,513,000)
|
(24,500,000)
|
| Net cash provided by financing activities |
242,334,000
|
41,865,000
|
| Effect of exchange rate changes on cash and cash equivalents |
5,248,000
|
5,773,000
|
| Net increase (decrease) in cash and cash equivalents |
5,352,000
|
(5,690,000)
|
| Cash and cash equivalents at beginning of period |
64,237,000
|
54,532,000
|
| Cash and cash equivalents at end of period |
$ 69,589,000
|
$ 48,842,000
|