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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 158,869 $ 110,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,063  
Net foreign currency losses 23  
Stock-based compensation 21,454  
Deferred income taxes (49,847) 4,467
Provision for bad debts 474  
Other non-cash operating activities 341  
Changes in assets and liabilities:    
Accounts receivable (4,183) 964
Contract assets (27,397) 0
Contract costs (3,825) 0
Prepaid expenses, prepaid income taxes, and other assets 201  
Accounts payable, accrued expenses, income taxes payable and other liabilities 32,980  
Deferred revenue 17,983 (11,699)
Net cash provided by operating activities 153,136 127,829
Cash flows from investing activities:    
Purchases of property, equipment and leasehold improvements (206)  
Payments for business acquisitions, net of cash 0  
Payments for capitalized computer software costs (1,094)  
Net cash used in investing activities (1,300)  
Cash flows from financing activities:    
Exercises of stock options 5,881  
Repurchases of common stock (224,182)  
Payments of tax withholding obligations related to restricted stock (11,916)  
Deferred business acquisition payments (1,700)  
Proceeds from credit agreement 50,000  
Payments of credit agreement issuance costs 0  
Net cash used in financing activities (181,917)  
Effect of exchange rate changes on cash and cash equivalents (492)  
Decrease in cash and cash equivalents (30,573)  
Cash and cash equivalents, beginning of period 96,165  
Cash and cash equivalents, end of period 65,592  
Supplemental disclosure of non-cash investing and financing activities:    
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses 10  
Change in repurchases of common stock included in accounts payable and accrued expenses 818  
Supplemental disclosure of cash flow information:    
Income taxes paid, net 39,123  
Interest paid 5,728  
Accounting Standards Update 2014-09 [Member]    
Cash flows from operating activities:    
Net income   217,057
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization   4,902
Net foreign currency losses   1,086
Stock-based compensation   17,222
Deferred income taxes   (123,443)
Provision for bad debts   1,373
Other non-cash operating activities   314
Changes in assets and liabilities:    
Accounts receivable   1,429
Contract assets   (7,767)
Contract costs   (651)
Prepaid expenses, prepaid income taxes, and other assets   4,908
Accounts payable, accrued expenses, income taxes payable and other liabilities   (4,448)
Deferred revenue   15,847
Net cash provided by operating activities   127,829
Cash flows from investing activities:    
Purchases of property, equipment and leasehold improvements   (217)
Payments for business acquisitions, net of cash   (33,700)
Payments for capitalized computer software costs   (299)
Net cash used in investing activities   (34,216)
Cash flows from financing activities:    
Exercises of stock options   7,402
Repurchases of common stock   (154,365)
Payments of tax withholding obligations related to restricted stock   (5,412)
Deferred business acquisition payments   (2,600)
Proceeds from credit agreement   30,000
Payments of credit agreement issuance costs   (351)
Net cash used in financing activities   (125,326)
Effect of exchange rate changes on cash and cash equivalents   834
Decrease in cash and cash equivalents   (30,879)
Cash and cash equivalents, beginning of period $ 96,165 101,954
Cash and cash equivalents, end of period   71,075
Supplemental disclosure of non-cash investing and financing activities:    
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses   (31)
Change in repurchases of common stock included in accounts payable and accrued expenses   (4,365)
Supplemental disclosure of cash flow information:    
Income taxes paid, net   38,662
Interest paid   $ 3,456