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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net income $ 28,033 $ 36,121
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 53,714 49,327
Stock-based compensation expense 10,451 8,888
Deferred income taxes 7,995 6,008
Provision for doubtful accounts 2,173 4,730
Amortization of fees on debt 822 809
Noncash operating lease expense 7,369 10,074
Other (2,869) 5,550
Changes in assets and liabilities:    
Accounts receivable (25,680) (65,606)
Inventories, prepaid expenses, deposits and other current and long-term assets (9,177) 11,944
Accounts payable (26,059) (26,810)
Accrued liabilities (10,681) (8,570)
Accrued compensation and benefits (38,806) (39,157)
Operating lease liability (5,966) (10,662)
Deferred revenue and other liabilities 29,863 5,686
Net cash provided by (used in) operating activities 21,182 (11,668)
Cash flows from investing activities    
Purchase of property and equipment (2,823) (2,705)
Capitalized software development costs (21,399) (19,330)
Capitalized curriculum development costs (9,527) (7,461)
Sale of other investments 60 5,261
Acquisition of assets (1,409)  
Other acquisitions, loans and investments, net of distributions (767) (3,956)
Proceeds from the maturity of marketable securities 36,729 7,248
Purchases of marketable securities (55,879) (38,720)
Net cash used in investing activities (55,015) (59,663)
Cash flows from financing activities    
Repayments on finance lease obligations (19,938) (14,744)
Payments of contingent consideration (7,024)  
Payments of deferred purchase consideration   (7,858)
Proceeds from exercise of stock options 10 246
Repurchase of restricted stock for income tax withholding (10,334) (35,404)
Net cash used in financing activities (37,286) (57,760)
Net change in cash, cash equivalents and restricted cash (71,119) (129,091)
Cash, cash equivalents and restricted cash, beginning of period 389,398 386,582
Cash, cash equivalents and restricted cash, end of period $ 318,279 $ 257,491