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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Operating activities:      
Net income $ 64,656 $ 69,701 $ 30,969
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash compensation expense 3,042 2,607 1,973
Non-cash compensation to directors 829 791 834
Depreciation 12,249 10,004 7,656
Amortization 6,131 5,956 5,198
Deferred income taxes 8,715 6,794 45,793
Adjustment to tax receivable agreement liability (1,672) (103) (24,637)
Other items, net 2,211 802 793
Change in operating assets and liabilities (excluding effects of acquisition):      
Trade receivables 14,193 (3,041) (12,181)
Inventories (5,263) (15,410) (6,336)
Prepaid expenses and other assets 551 (786) (447)
Accounts payable (5,812) (2,791) 4,612
Accrued expenses (239) 9,598 6,547
Income taxes receivable and payable (1,164) 125 1,723
Other liabilities (828) 1,118 251
Payment pursuant to tax receivable agreement (3,458) (3,865) (4,293)
Net cash provided by operating activities 94,141 81,500 58,455
Investing activities:      
Purchases of property and equipment (41,291) (17,938) (10,449)
Proceeds from sale of property and equipment 897 0 145
Payment for acquisition, net of cash acquired (100,073) (125,552)
Net cash used in investing activities (40,394) (118,011) (135,856)
Financing activities:      
Principal payments on long-term borrowings 0 (35,000) (50,000)
Proceeds from long-term borrowings 0 0 105,000
Payment of deferred financing costs 0 (370) (1,148)
Proceeds from revolving credit facility 103,800 90,000 0
Payments on revolving credit facility (135,000) (50,000) 0
Proceeds from issuance of Class A Common Stock in offerings, net of underwriting discounts 0 0 55,317
Payment of costs directly associated with offerings 0 0 (650)
Repurchase and retirement of Class A Common Stock (13,833) 0 0
Cash paid for tax withholdings   (1,219) (691)
Distributions to non-controlling LLC Unit holders (1,836) (1,785) (1,626)
Proceeds received from exercise of stock options 377 749 0
Net cash provided by (used in) by financing activities (47,323) 2,375 106,202
Effect of exchange rate changes on cash (29) (95) 0
Changes in cash 6,395 (34,231) 28,801
Cash—Beginning of period 27,392 61,623 32,822
Cash—End of period 33,787 27,392 61,623
Supplemental cash flow information:      
Cash paid for interest 3,810 6,011 4,352
Cash paid for income taxes 10,529 14,173 9,887
Non-cash operating, investing and financing activities:      
Establishment of deferred tax assets from step-up in tax basis 1,364 3,275 3,004
Establishment of amounts payable under tax receivable agreements 1,041 2,676 1,685
Equity issued as consideration for acquisition 0 0 1,000
Exchange of LLC Units for Class A Common Stock 879 1,136 920
Tax distributions payable to non-controlling LLC Unit holders 104 568 511
Capital expenditures in accounts payable $ 1,129 $ 647 $ 1,053