v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:      
Net income $ 24,844 $ 37,217 $ 30,681
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 79,606 75,624 64,800
Gain on disposition of equipment (22,395) (23,619) (6,736)
Gain from sale of minority investment (17,143)
Deferred income taxes 8,259 32,391 5,210
Provision for doubtful accounts 825 240 100
Stock based compensation expense 2,855 2,772 2,077
Changes in operating assets and liabilities:      
Trade receivables 165 (6,198) (17,125)
Income tax receivable and payable 17,589 (11,426) 7,905
Tires in service (2,771) 860 (1,917)
Prepaid expenses and other current assets (5,461) (4,538) (10,409)
Other assets (34,944) 240 886
Leased and revenue equipment held for sale (60,707) (85,331)
Accounts payable and accrued expenses (13,076) 26,333 11,988
Net cash provided by (used in) operating activities (5,211) 44,565 70,317
Cash flows from investing activities:      
Purchase of property and equipment (87,597) (118,422) (82,826)
Proceeds on sale of property and equipment 143,688 172,354 103,926
Proceeds from sale of minority interest 21,000
Investment in unconsolidated companies (2,000)
Purchase of businesses, net of cash acquired (18,264) (114,682) (36,602)
Net cash provided by (used in) investing activities 35,827 (60,750) 5,498
Cash flows from financing activities:      
Proceeds from issuance of common stock 51 85,353 2,985
Borrowings on long-term debt 824,750 847,285 325,520
Payments on long-term debt (807,762) (789,847) (358,466)
Borrowings on other long-term liabilities 29,980
Payments on other long-term liabilities (597)
Dividends paid (2,200) (1,873) (1,837)
Principal payments on capital lease obligations (90,638) (113,624) (29,190)
Net cash provided by (used in) financing activities (46,416) 27,294 (60,988)
Effect of exchange rates on cash and cash equivalents 178 (1,918) (634)
Increase (decrease) in cash and cash equivalents (15,622) 9,191 14,193
Cash and cash equivalents at beginning of year 24,699 15,508 1,315
Cash and cash equivalents at end of year 9,077 24,699 15,508
Supplemental disclosure of cash flow information:      
Interest paid 13,794 7,776 4,802
Income taxes paid 259 5,627 9,901
Obligations incurred under capital leases 90,415 304,261
Conversion of capital leases to operating leases $ 130,440