XML 22 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 24,608 $ 46,019
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,428 27,566
Amortization of debt issuance costs 313 252
Provision for doubtful accounts 3,077 3,199
Share-based compensation 4,097 4,906
Deferred income taxes (1,748) 1,132
Change in fair value of contingent consideration 6,266 11,535
Contingent consideration payments excess (3,050) (10,190)
Finance lease interest 64 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 11,842 40,530
Inventories 15,656 (169,031)
Prepaid expenses and other assets (15,957) 10,116
Other non-current assets 428 413
Accounts payable 62,553 25,138
Accrued expenses and other liabilities 17,153 (4,082)
Income taxes payable (3,647) (12,050)
Net cash provided by (used in) operating activities 150,083 (24,547)
Cash flows from investing activities:    
Capital expenditures (6,617) (10,977)
Cash paid for business acquisitions, net of cash acquired (48,921) (32,161)
Net cash used in investing activities (55,538) (43,138)
Cash flows from financing activities:    
Borrowings on revolving credit 1,670,227 1,602,568
Repayments on revolving credit (1,701,494) (1,503,654)
Repayments on short-term borrowings, net (4,384) 0
Repayments on long-term debt (3,147) (330)
Repayments of finance lease obligations (660)  
Repayments of finance lease obligations   (495)
Contingent consideration payments (35,481) (35,606)
Exercise and issuance of equity awards 754 1,509
Taxes paid on settlement of equity awards (1,354) (1,406)
Repurchase of common stock (6,077) (308)
Net cash (used in) provided by financing activities (81,616) 62,278
Effect of exchange rate changes on cash and cash equivalents (2,151) 277
Increase (decrease) in cash and cash equivalents 10,778 (5,130)
Cash and cash equivalents at beginning of period 23,818 25,530
Cash and cash equivalents at end of period $ 34,596 $ 20,400