XML 22 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ (12,915) $ 24,608
Net loss from discontinued operations (37,647) (5,025)
Net income from continuing operations 24,732 29,633
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations:    
Depreciation and amortization 25,417 26,585
Amortization of debt issue costs 313 313
Provision for doubtful accounts 226 1,399
Share-based compensation 5,711 4,053
Deferred income taxes (26) (1,479)
Change in fair value of contingent consideration 516 6,266
Contingent consideration payments excess (5,457) (3,050)
Finance lease interest 96 64
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (68,654) (85)
Inventories (5,907) (7,446)
Prepaid expenses and other assets (1,641) (10,977)
Other non-current assets 2,846 (1,029)
Accounts payable 69,609 55,378
Accrued expenses and other liabilities 8,434 13,233
Income taxes payable (793) (4,775)
Net cash provided by operating activities of continuing operations 55,422 108,083
Cash flows from investing activities of continuing operations:    
Capital expenditures (2,283) (6,575)
Cash paid for business acquisitions, net of cash acquired 0 (48,915)
Proceeds from the sale of discontinued operations 34,356 0
Net cash provided by (used in) investing activities of continuing operations 32,073 (55,490)
Cash flows from financing activities of continuing operations:    
Borrowings on revolving credit, net of expenses 1,486,464 1,608,472
Repayments on revolving credit, net of expenses (1,500,375) (1,650,862)
Borrowings on long-term debt, net (5,964) (3,147)
Repayments of finance lease obligations (974) (660)
Contingent consideration payments (41,393) (35,481)
Exercise of stock options 439 754
Taxes paid on settlement of equity awards (1,036) (1,354)
Repurchase of common stock 0 (6,077)
Net cash used in financing activities of continuing operations (62,839) (88,355)
Cash flows from discontinued operations:    
Net cash flows provided by operating activities of discontinued operations 21,704 42,000
Net cash flows used in by investing activities of discontinued operations (58) (48)
Net cash flows (used in) provided by financing activities of discontinued operations (29,494) 6,739
Net cash flows (used in) provided by discontinued operations (7,848) 48,691
Effect of exchange rate changes on cash and cash equivalents (1,942) (2,151)
Increase in cash and cash equivalents 14,866 10,778
Cash and cash equivalents at beginning of period 34,455 23,818
Cash and cash equivalents at end of period 49,321 34,596
Cash and cash equivalents of discontinued operations 0 4,838
Cash and cash equivalents of continuing operations $ 49,321 $ 29,758