XML 25 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:      
Net income $ 69,246 $ 63,619 $ 65,419
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 24,968 17,154 11,997
Amortization of debt issue costs 290 297 297
Provision for doubtful accounts 8,901 7,571 993
Share-based compensation 6,602 7,093 6,522
Deferred income taxes (1,861) 1,846 3,921
Excess tax benefits from share-based payment arrangements (89) (101) (260)
Change in fair value of contingent consideration 5,211 1,294 2,667
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (66,129) 14,167 (14,476)
Inventories 28,449 2,999 (37,695)
Prepaid expenses and other assets (4,300) 4,612 2,337
Other noncurrent assets (9,540) (2,186) 1,431
Accounts payable 19,861 (71,706) 28,280
Accrued expenses and other liabilities 8,491 6,401 7,449
Income taxes payable 4,776 (849) (3,360)
Net cash provided by operating activities 94,876 52,211 75,522
Cash flows from investing activities:      
Capital expenditures (8,849) (12,081) (20,762)
Cash paid for business acquisitions, net of cash acquired (83,804) (61,475) (59,779)
Payments for acquisition of intangible assets (3,583) 0 0
Net cash used in investing activities (96,236) (73,556) (80,541)
Cash flows from financing activities:      
Borrowings (repayments) short-term borrowings, net 0 0 (24,097)
Borrowings on revolving credit, net of expenses 1,813,062 1,376,620 93,579
Repayments on revolving credit, net of expenses (1,792,620) (1,305,193) (93,579)
Repayments on long-term debt 0 (2,792) (9,146)
Repayments of capital lease obligations (246) (223) (262)
Debt issuance costs (876) 0 0
Contingent consideration payments (10,241) (8,606) (5,640)
Exercise of stock options 8,208 3,994 760
Repurchase of common stock (20,882) (100,206) (18,768)
Excess tax benefits from share-based payment arrangements 89 101 260
Net cash used in financing activities (3,506) (36,305) (56,893)
Effect of exchange rate changes on cash and cash equivalents (440) (2,596) (11,293)
Decrease in cash and cash equivalents (5,306) (60,246) (73,205)
Cash and cash equivalents at beginning of period 61,400 121,646 194,851
Cash and cash equivalents at end of period 56,094 61,400 121,646
Supplemental disclosure of cash flow information:      
Interest paid during the year 2,831 1,706 1,075
Income taxes paid during the year $ 31,126 $ 33,859 $ 36,272