CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2018 |
| Cash Flows from Operating Activities: |
|
|
|
|
| Net income |
$ 380,297
|
$ 322,694
|
|
$ 196,290
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
| Depreciation and amortization |
7,695
|
7,556
|
|
7,310
|
| Impairment of cost-based investment |
5,000
|
0
|
|
0
|
| Amortization of debt issuance costs |
1,807
|
1,114
|
|
751
|
| Non-cash lease expense |
1,146
|
0
|
|
0
|
| Premium amortization and (discount accretion), net |
(52)
|
(696)
|
|
0
|
| Write off unamortized debt issuance costs |
105
|
0
|
|
489
|
| Provision for inventory obsolescence |
6,617
|
1,637
|
|
2,336
|
| Provisions for loss on vendor deposits and purchase commitments |
3,327
|
2,911
|
|
14,891
|
| Stock-based compensation |
2,888
|
2,890
|
|
3,208
|
| Deferred taxes |
(1,194)
|
196
|
|
2,027
|
| Other, net |
265
|
(725)
|
|
(849)
|
| Changes in operating assets and liabilities: |
|
|
|
|
| Accounts receivable |
13,883
|
18,728
|
|
(33,973)
|
| Inventories |
(28,053)
|
(163,659)
|
|
35,974
|
| Vendor deposits |
3,124
|
27,705
|
|
4,798
|
| Prepaid income taxes |
(11)
|
(23)
|
|
2,419
|
| Prepaid expenses and other assets |
(10,813)
|
(15,812)
|
|
(9,404)
|
| Accounts payable |
116,900
|
24,329
|
|
(34,596)
|
| Income taxes payable |
(3,527)
|
16,318
|
|
103,769
|
| Deferred revenues |
855
|
9,079
|
|
4,941
|
| Accrued and other liabilities |
(39,975)
|
5,016
|
|
31,666
|
| Net cash provided by operating activities |
460,284
|
259,258
|
|
332,047
|
| Cash Flows from Investing Activities: |
|
|
|
|
| Purchase of property and equipment and other long-term assets |
(30,619)
|
(51,684)
|
[1] |
(9,115)
|
| Private equity investment |
0
|
(5,000)
|
|
0
|
| Purchase of investments |
(27,538)
|
(220,076)
|
|
0
|
| Proceeds from sale of investments |
111,909
|
80,889
|
|
0
|
| Proceeds from maturity of investments |
15,832
|
38,304
|
|
0
|
| Net cash (used in) investing activities |
69,584
|
(157,567)
|
|
(9,115)
|
| Cash Flows from Financing Activities: |
|
|
|
|
| Debt Issuance Costs |
(3,138)
|
0
|
|
(5,185)
|
| Repurchases of common stock |
(700,125)
|
(468,225)
|
|
(445,014)
|
| Payment of common stock cash dividends |
(78,682)
|
(71,358)
|
|
0
|
| Proceeds from exercise of stock options |
179
|
831
|
|
1,539
|
| Tax withholdings related to net share settlements of stock options |
0
|
0
|
|
(40,624)
|
| Tax withholdings related to net share settlements of restricted stock units |
(1,132)
|
(1,473)
|
|
(1,415)
|
| Net cash (used in) provided by financing activities |
(625,398)
|
(530,225)
|
|
(260,449)
|
| Net (decrease) increase in cash and cash equivalents |
(95,530)
|
(428,534)
|
|
62,483
|
| Cash and cash equivalents at beginning of period |
238,147
|
666,681
|
|
604,198
|
| Cash and cash equivalents at end of period |
142,617
|
238,147
|
|
666,681
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
|
|
| Income taxes paid, net of refunds |
74,918
|
41,725
|
|
9,605
|
| Interest paid |
21,817
|
23,348
|
|
11,377
|
| Non-Cash Investing and Financing Activities: |
|
|
|
|
| Right-of-use asset recognized |
8,610
|
0
|
|
0
|
| Unpaid stock repurchases |
0
|
2,223
|
|
0
|
| Unpaid property and equipment and other long-term assets |
366
|
440
|
|
144
|
| Net unsettled investment purchases (sales, and maturities) |
522
|
|
|
|
| Net unsettled investment purchases (sales, and maturities) |
|
(522)
|
|
0
|
| Term loan facility |
|
|
|
|
| Cash Flows from Financing Activities: |
|
|
|
|
| Proceeds from borrowing |
37,500
|
0
|
|
500,000
|
| Repayments of debt |
(25,000)
|
(25,000)
|
|
(88,750)
|
| Revolving credit facility |
|
|
|
|
| Cash Flows from Financing Activities: |
|
|
|
|
| Proceeds from borrowing |
390,000
|
35,000
|
|
218,500
|
| Repayments of debt |
$ (245,000)
|
$ 0
|
|
$ (399,500)
|
|
|