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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net loss $ (12,664) $ (6,589)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 16,565 16,880
Stock-based compensation expense 4,587 4,173
Excess tax benefit from stock-based compensation (6) (7)
Deferred income taxes 7,189 7,258
Provision for doubtful accounts 2,335 283
Provision for excess and obsolete inventory 213 177
Provision for student computer shrinkage and obsolescence (284) 11
Expensed computer peripherals 1,352  
Changes in assets and liabilities:    
Accounts receivable (74,841) (90,552)
Inventories 12,644 15,686
Prepaid expenses (18,030) (15,553)
Other current assets (2,661) (6,105)
Deposits and other assets (142) (228)
Accounts payable 12,488 10,630
Accrued liabilities (1,741) (10,027)
Accrued compensation and benefits (9,961) (4,930)
Deferred revenue 39,390 48,835
Deferred rent and other liabilities (374) 2,648
Net cash used in operating activities (23,941) (27,410)
Cash flows from investing activities    
Purchase of property and equipment (977) (6,333)
Capitalized software development costs (9,515) (8,886)
Capitalized curriculum development costs (3,699) (3,375)
Investment in LearnBop Inc.   (6,512)
Net cash used in investing activities (14,191) (25,106)
Cash flows from financing activities    
Repayments on capital lease obligations (4,941) (5,899)
Purchase of treasury stock   (26,452)
Proceeds from exercise of stock options 14 161
Excess tax benefit from stock-based compensation 6 7
Repurchase of restricted stock for income tax withholding (1,928) (1,112)
Net cash used in financing activities (6,849) (33,295)
Effect of foreign exchange rate changes on cash and cash equivalents (7) (1,102)
Net change in cash and cash equivalents (44,988) (86,913)
Cash and cash equivalents, beginning of year 195,852 196,109
Cash and cash equivalents, end of year $ 150,864 $ 109,196