XML 43 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:      
Net income $ 118,407 $ 85,783 $ 45,262
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,216 5,215 5,229
Net foreign currency loss (gain) (1,552) 1,934 (952)
Stock-based compensation 14,584 14,056 14,637
Deferred income taxes 20,112 34,596 5,127
Provision for bad debts (513) 1,793 489
Tax benefits from stock based compensation 37,024 727 478
Excess tax benefits from stock-based compensation (37,024) (727) (478)
Other non-cash operating activities 1,619 1,847 818
Changes in assets and liabilities:      
Accounts receivable 8,028 (3,179) (6,094)
Unbilled services 526 301 (380)
Prepaid expenses, prepaid income taxes, and other assets 4,070 947 3,827
Installments receivables (364) 13,607 39,419
Accounts payable, accrued expenses, and other liabilities 5,933 906 (5,425)
Deferred revenue 14,919 42,325 44,605
Net cash provided by operating activities 191,985 200,131 146,562
Cash flows from investing activities:      
Purchases of marketable securities (50,065) (68,356) (97,597)
Maturities of marketable securities 85,535 60,265 4,549
Purchases of property, equipment and leasehold improvements (7,645) (4,011) (4,507)
Insurance proceeds 0 0 2,222
Purchase of technology intangibles 0 (400) (902)
Capitalized computer software development costs (359) (685) (1,156)
Net cash provided by (used in) investing activities 27,466 (13,187) (97,391)
Cash flows from financing activities:      
Exercises of stock options 4,662 8,710 21,143
Repayments of secured borrowings 0 0 (11,010)
Repurchases of common stock (297,246) (121,776) (84,677)
Payments of tax withholding obligations related to restricted stock (5,699) (7,831) (7,705)
Excess tax benefits from stock-based compensation 37,024 727 478
Net cash used in financing activities (261,259) (120,170) (81,771)
Effect of exchange rate changes on cash and cash equivalents (1,469) 320 (210)
(Decrease) increase in cash and cash equivalents (43,277) 67,094 (32,810)
Cash and cash equivalents, beginning of year 199,526 132,432 165,242
Cash and cash equivalents, end of year 156,249 199,526 132,432
Supplemental disclosure of cash flow information:      
Income taxes paid, net 3,712 7,157 4,645
Interest paid $ 30 $ 37 $ 424