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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Operating activities:      
Net income (loss) $ 76,475 $ (85,778) $ 95,581
Loss from discontinued operations 25,127 329,315 11,288
Income from continuing operations 101,602 243,537 106,869
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Stock-based compensation expense 13,875 14,584 13,217
Amortization and adjustments to operating lease assets 51,380 54,716 0
Depreciation 37,598 34,428 33,759
Amortization of intangible assets 10,073 10,262 6,947
Amortization of debt issuance costs 2,657 1,566 1,566
Impairment of intangible assets 1,211 0 0
Reclassification adjustment from other comprehensive income (126) 0 0
Provisions for bad debts 11,573 16,152 9,817
Deferred income taxes 1,519 (4,548) 20,752
Loss on disposals, accelerated depreciation, and adjustments to property and equipment 1,912 4,564 42,459
Realized and unrealized (gain) loss on investments (2,638) (18) 153
Realized gain on sale of assets 0 (4,779) 0
Insurance settlement gain 0 0 (15,571)
Gain on derivative 0 (110,723) 0
Changes in assets and liabilities:      
Accounts receivable 13,259 (12,840) (21,123)
Prepaid expenses and other current assets (18,135) (17,612) 1,276
Accounts payable 8,530 (6,340) 8,104
Accrued payroll and benefits 15,646 2,173 (3,350)
Accrued liabilities 29,740 (2,477) 7,719
Deferred revenue 9,108 (4,355) (6,058)
Operating lease liabilities (49,880) (53,726) 0
Other assets and liabilities (15,746) (14,999) (21,082)
Net cash provided by operating activities-continuing operations 223,158 149,565 185,454
Net cash (used in) provided by operating activities-discontinued operations (30,959) (41,873) 19,404
Net cash provided by operating activities 192,199 107,692 204,858
Investing activities:      
Capital expenditures (48,664) (44,137) (57,574)
Insurance proceeds received for damage to buildings and equipment 0 0 35,706
Proceeds from sales of marketable securities 2,721 2,829 1,841
Purchases of marketable securities (10,745) (3,015) (6,321)
Proceeds from sale of assets 0 6,421 0
Cash received on settlement of derivative 0 110,723 0
Cash received on purchase price adjustment 0 92 0
Payment for purchase of businesses, net of cash acquired 0 0 (118,409)
Loan to DeVry University 0 0 (10,000)
Net cash (used in) provided by investing activities-continuing operations (56,688) 72,913 (154,757)
Net cash used in investing activities-discontinued operations 0 (3,908) (9,010)
Proceeds from sale of business, net of cash transferred 0 313,518 0
Cash and restricted cash transferred in divestitures of discontinued operations 0 0 (50,069)
Net cash (used in) provided by investing activities (56,688) 382,523 (213,836)
Financing activities:      
Proceeds from exercise of stock options 1,457 3,761 16,994
Employee taxes paid on withholding shares (4,206) (5,485) (6,801)
Proceeds from stock issued under Colleague Stock Purchase Plan 262 17 421
Repurchases of common stock for treasury (100,000) (136,889) (252,852)
Proceeds from long-term debt 800,000 225,000 135,000
Repayments of long-term debt (3,000) (338,000) (28,000)
Payment of debt issuance costs (18,047) 0 0
Proceeds from down payment on seller loan 0 5,200 0
Payment for purchase of redeemable noncontrolling interest of subsidiary 0 (6,247) 0
Net cash provided by (used in) financing activities-continuing operations 676,466 (252,643) (135,238)
Net cash used in financing activities-discontinued operations 0 (3,466) (2,295)
Net cash provided by (used in) financing activities 676,466 (256,109) (137,533)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 534 (33,468) 2,573
Net increase (decrease) in cash, cash equivalents and restricted cash 812,511 200,638 (143,938)
Cash, cash equivalents and restricted cash at beginning of period 501,105 300,467 444,405
Cash, cash equivalents and restricted cash at end of period 1,313,616 501,105 300,467
Less: cash, cash equivalents and restricted cash of discontinued operations at end of period 0 0 95,243
Cash, cash equivalents and restricted cash at end of period 1,313,616 501,105 205,224
Cash paid during the year for:      
Interest 14,429 20,156 20,410
Income taxes, net 26,431 12,442 3,230
(Decrease) increase in redemption value of noncontrolling interest put option $ (628) $ 0 $ 20