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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2023
USD ($)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 643,429 $ 337,500 $ 251,429
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization   91,004 98,660
Provision for credit losses   61,359 49,174
Deferred taxes   (58,223) 6,685
Stock-based compensation   25,310 26,785
Changes in assets and liabilities, net of acquisitions:      
Receivables   (348,106) (237,395)
Prepaid expenses, other current and noncurrent assets   (18,037) (17,438)
Accounts payable, accrued expenses, salaries, wages and payroll taxes   223,045 122,025
Deferred revenue, other current and noncurrent liabilities   12,483 22,054
Income tax receivables, accrued income taxes and income tax reserves   93,961 179,692
Other, net   (32) (3,285)
Net cash provided by operating activities   420,264 498,386
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures   (53,831) (56,661)
Payments made for business acquisitions, net of cash acquired   (43,163) (47,740)
Franchise loans funded   (18,815) (21,566)
Payments from franchisees   12,884 14,963
Other, net   3,282 9,717
Net cash used in investing activities   (99,643) (101,287)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayments of line of credit borrowings   (1,025,000) (970,000)
Dividends paid   (135,127) (133,762)
Repurchase of common stock, including shares surrendered   (379,018) (365,852)
Other, net   (6,358) (5,973)
Net cash used in financing activities   (520,503) (505,587)
Effects of exchange rate changes on cash   (2,739) (7,880)
Net decrease in cash and cash equivalents, including restricted balances   (202,621) (116,368)
Cash, cash equivalents and restricted cash, beginning of period   1,015,316 1,050,713
Cash, cash equivalents and restricted cash, end of period 934,345 812,695 934,345
SUPPLEMENTARY CASH FLOW DATA:      
Income taxes paid (received), net (110,028) 35,888  
Interest paid on borrowings 59,429 66,464  
Accrued additions to property and equipment 4,378 1,477  
New operating right of use assets and related lease liabilities 131,949 139,872  
Accrued dividends payable to common shareholders $ 44,163 44,648 44,163
Proceeds from line of credit borrowings   $ 1,025,000 $ 970,000