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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
$ in Thousands
6 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities:    
Net income $ 5,803 $ 10,169
Adjustments to reconcile net income to net cash used in operating activities:    
Non-cash impairment and other adjustments related to discontinued operations 176 25,095
Depreciation and amortization 16,799 20,491
Depreciation related to discontinued operations 0 3,038
Deferred income taxes (7,915) (80,691)
Gain on life insurance 0 (7,986)
Loss (gain) from sale of salon assets to franchisees, net 1,095 (18)
Salon asset impairments 2,303 16,715
Accumulated other comprehensive income reclassification adjustment 0 6,152
Stock-based compensation 4,552 4,618
Amortization of debt discount and financing costs 138 703
Other non-cash items affecting earnings (681) (105)
Changes in operating assets and liabilities, excluding the effects of asset sales (33,223) (10,593)
Net cash used in operating activities (10,953) (12,412)
Cash flows from investing activities:    
Capital expenditures (16,804) (13,773)
Capital expenditures related to discontinued operations 0 (1,171)
Proceeds from sale of assets to franchisees 24,050 2,696
Proceeds from company-owned life insurance policies 24,616 18,108
Net cash provided by investing activities 31,862 5,860
Cash flows from financing activities:    
Proceeds on issuance of common stock 330 0
Repurchase of common stock (65,136) 0
Settlement of equity awards 0 (375)
Taxes paid for shares withheld (2,305) (2,039)
Net proceeds from sale and leaseback transaction 18,068 0
Net cash used in financing activities (49,043) (2,414)
Effect of exchange rate changes on cash and cash equivalents (174) 253
Decrease in cash, cash equivalents, and restricted cash (28,308) (8,713)
Cash, cash equivalents and restricted cash:    
Beginning of period 120,466  
Beginning of period, total cash, cash equivalents and restricted cash 148,774 209,986
End of period $ 120,466 $ 201,273