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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2017
Cash Flows From Operating Activities:      
Net income $ 150,549 [1],[2] $ 135,314 [3] $ 115,314
Impacts of noncash items:      
Depreciation and amortization 31,848 26,896 24,906
Change in contingent consideration (16,180) 2,052 1,156
Deferred income taxes and other changes 7,336 (8,502) 2,347
Stock-based compensation expense 5,972 5,039 4,248
Restructuring and impairment charges 1,643 0 0
Gain on sale of property (13) (10) (629)
Pension plan activity (749) (434) (244)
Changes in operating assets and liabilities:      
Receivables (748) (3,040) (2,598)
Inventories 6,282 (14,485) 150
Other current assets (3,085) 2,164 (2,958)
Accounts payable and accrued liabilities 14,743 15,720 4,693
Net cash provided by operating activities 197,598 160,714 146,385
Cash Flows From Investing Activities:      
Payments for property additions (70,880) (31,025) (27,005)
Cash paid for acquisitions, net of cash acquired (55,364) (318) (35,169)
Proceeds from sale of property 169 38 1,475
Other-net (786) (147) 91
Net cash used in investing activities (126,861) (31,452) (60,608)
Cash Flows From Financing Activities:      
Payment of dividends (70,110) (64,531) (58,980)
Purchase of treasury stock (7,411) (1,102) (866)
Tax withholdings for stock-based compensation (2,360) (981) (907)
Other-net (320) 0 0
Net cash used in financing activities (80,201) (66,614) (60,753)
Net change in cash and equivalents (9,464) 62,648 25,024
Cash and equivalents at beginning of year 205,752 143,104 118,080
Cash and equivalents at end of year $ 196,288 $ 205,752 $ 143,104
[1] Included in the fourth quarter and fiscal year net income were after-tax ERP expenses of $1.4 million, or approximately $0.05 per diluted share, and after-tax restructuring and impairment charges of $1.3 million, or approximately $0.05 per diluted share.
[2] Included in the second quarter and fourth quarter net income was an after-tax benefit of $7.4 million and $5.7 million, respectively, or approximately $0.27 and $0.21 per diluted share, respectively, related to the reduction in the fair value of Angelic’s contingent consideration liability. The after-tax benefit for the fiscal year was $13.1 million, or approximately $0.48 per diluted share.
[3] Included in the second quarter net income was the one-time preliminary deferred tax benefit of $8.9 million, or approximately $0.32 per diluted share, resulting from the Tax Act. The fiscal year impact was $9.5 million, or approximately $0.35 per diluted share.