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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 $ 24,506 $ 37,209 $ 27,420
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 72,091 71,400 75,260
Stock-based compensation expense 23,609 16,676 20,817
Deferred income taxes (1,305) 3,693 (4,015)
Provision for doubtful accounts 2,882 6,325 4,089
Other 19,578 3,985 4,822
Changes in assets and liabilities:      
Accounts receivable (37,772) (21,637) 11,987
Inventories, prepaid expenses, deposits and other current and long-term assets (16,181) (3,321) (28,491)
Accounts payable (6,213) 20,174 (2,336)
Accrued liabilities 7,424 8,295 (6,273)
Accrued compensation and benefits 3,103 5,948 6,672
Operating lease liability (13,124)    
Deferred revenue and other liabilities 1,817 (7,141) (4,506)
Net cash provided by operating activities 80,415 141,606 105,446
Cash flows from investing activities      
Purchase of property and equipment (1,677) (5,477) (8,743)
Capitalized software development costs (23,988) (26,318) (24,533)
Capitalized curriculum development costs (19,332) (16,611) (9,927)
Sale of long-lived assets   389  
Acquisition of Galvanize, Inc., net of cash acquired (167,995)    
Other acquisitions and investments, net of distributions (4,373) (13,092) (7,274)
Net cash used in investing activities (217,365) (61,109) (50,477)
Cash flows from financing activities      
Repayments on finance lease obligations (27,675) (21,034) (13,301)
Borrowing from credit facility 105,000    
Repayments on credit facility (5,000)    
Payments of contingent consideration   (1,027) (1,819)
Purchase of treasury stock     (27,482)
Proceeds from exercise of stock options 64 3,030 196
Repurchase of restricted stock for income tax withholding (6,761) (9,958) (10,314)
Net cash provided by (used in) financing activities 65,628 (28,989) (52,720)
Net change in cash, cash equivalents and restricted cash (71,322) 51,508 2,249
Cash, cash equivalents and restricted cash, beginning of period 284,621 233,113 230,864
Cash, cash equivalents and restricted cash, end of period $ 213,299 $ 284,621 $ 233,113