XML 25 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES      
Net income $ 188,500,000 $ 47,000,000 $ 11,300,000
Adjustments to reconcile net income to net cash provided from operating activities:      
Depreciation and amortization 116,600,000 117,800,000 119,300,000
Goodwill impairment charge 0 0 12,500,000
Non-cash excess inventory write-down 0 0 22,500,000
Non-cash restructuring and asset impairment charges 0 0 7,600,000
Deferred income taxes (61,100,000) 41,600,000 800,000
Net pension expense 14,200,000 48,400,000 53,800,000
Payments from qualified pension plan associated with restructuring charges 0 0 9,400,000
Share-based compensation expense 17,600,000 13,000,000 8,700,000
Net loss on disposal of property and equipment and assets held for sale 2,500,000 2,500,000 600,000
Loss on divestiture of business 0 3,200,000 0
Changes in working capital and other:      
Accounts receivable (86,800,000) (34,600,000) 48,200,000
Inventories 400,000 (74,600,000) 1,600,000
Other current assets (9,600,000) 2,800,000 (2,100,000)
Accounts payable 10,700,000 42,500,000 (7,600,000)
Accrued liabilities 28,700,000 26,600,000 (13,500,000)
Pension plan contributions (6,700,000) (100,000,000) 0
Other postretirement plan contributions (3,400,000) (3,200,000) (13,000,000)
Other, net (2,400,000) (2,700,000) (2,700,000)
Net cash provided from operating activities 209,200,000 130,300,000 257,400,000
INVESTING ACTIVITIES      
Purchases of property, equipment and software (135,000,000) (98,500,000) (95,200,000)
Proceeds from disposals of property and equipment and assets held for sale 1,900,000 2,500,000 1,400,000
Acquisition of business (13,300,000) (35,300,000) 0
Proceeds from sales and maturities of marketable securities 700,000 900,000 900,000
Proceeds from divestiture of business 0 12,000,000 0
Proceeds from note receivable from the sale of equity method investment 6,300,000 6,300,000 0
Proceeds received from sale of equity method investment 0 0 6,300,000
Other 0 0 4,000,000
Net cash used for investing activities (139,400,000) (112,100,000) (82,600,000)
FINANCING ACTIVITIES      
Credit agreement borrowings 0 122,100,000 77,000,000
Credit agreement repayments 0 (122,100,000) (77,000,000)
Dividends paid (34,400,000) (34,100,000) (34,800,000)
Payments of debt issue costs 0 (1,400,000) 0
Purchases of treasury stock 0 0 (123,900,000)
Payments on seller financed debt related to purchase of software 0 0 (4,900,000)
Payments on long-term debt (55,000,000) 0 0
Tax benefits on share-based compensation 0 500,000 0
Proceeds from stock options exercised 12,900,000 2,200,000 500,000
Withholding tax payments on share-based compensation awards (2,400,000) (1,000,000) (500,000)
Net cash used for financing activities (78,900,000) (33,800,000) (163,600,000)
Effect of exchange rate changes on cash and cash equivalents (1,000,000) (100,000) 800,000
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (10,100,000) (15,700,000) 12,000,000
Cash and cash equivalents at beginning of year 66,300,000 82,000,000 70,000,000
Cash and cash equivalents at end of year $ 56,200,000 $ 66,300,000 $ 82,000,000