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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 673,177 $ 251,429 $ 330,971
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization   98,660 107,462
Provision   49,174 59,778
Deferred taxes   6,685 (85,122)
Stock-based compensation   26,785 19,988
Changes in assets and liabilities, net of acquisitions:      
Receivables   (237,395) (233,362)
Prepaid expenses, other current and noncurrent assets   (17,438) (16,525)
Accounts payable, accrued expenses, salaries, wages and payroll taxes   122,025 122,112
Deferred revenue, other current and noncurrent liabilities   22,054 36,960
Income tax receivables, accrued income taxes and income tax reserves   179,692 36,244
Other, net   (3,285) (5,378)
Net cash provided by operating activities   498,386 373,128
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures   (56,661) (52,718)
Payments made for business acquisitions, net of cash acquired   (47,740) (25,465)
Franchise loans funded   (21,566) (18,468)
Payments from franchisees   14,963 17,714
Other, net   9,717 7,831
Net cash used in investing activities   (101,287) (71,106)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayments of line of credit borrowings   (970,000) (705,000)
Proceeds from line of credit borrowings   970,000 705,000
Dividends paid   (133,762) (143,435)
Repurchase of common stock, including shares surrendered   (365,852) (555,247)
Proceeds from exercise of stock options   1,427 4,605
Other, net   (7,400) (13,389)
Net cash used in financing activities   (505,587) (707,466)
Effects of exchange rate changes on cash   (7,880) (1,666)
Net decrease in cash and cash equivalents, including restricted balances   (116,368) (407,110)
Cash, cash equivalents and restricted cash, beginning of period   1,050,713 1,584,164
Cash, cash equivalents and restricted cash, end of period 1,177,054 934,345 1,177,054
SUPPLEMENTARY CASH FLOW DATA:      
Income taxes paid (received), net 76,894 (110,028)  
Interest paid on borrowings 58,009 59,429  
Accrued additions to property and equipment 1,336 4,378  
New operating right of use assets and related lease liabilities 126,726 131,949  
Accrued dividends payable to common shareholders $ 43,041 $ 44,163 $ 43,041