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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net income $ 36,121 $ 37,167
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization expense 49,327 41,438
Stock-based compensation expense 8,888 17,967
Deferred income taxes 6,008 5,375
Provision for doubtful accounts 4,730 6,382
Amortization of discount and fees on debt 809 4,973
Noncash operating lease expense 10,074 9,627
Other 5,550 7,244
Changes in assets and liabilities:    
Accounts receivable (65,606) (208,870)
Inventories, prepaid expenses, deposits and other current and long-term assets 11,944 (23,231)
Accounts payable (26,810) (7,202)
Accrued liabilities (8,570) 4,346
Accrued compensation and benefits (39,157) (5,401)
Operating lease liability (10,662) (10,364)
Deferred revenue and other liabilities 5,686 40,592
Net cash used in operating activities (11,668) (79,957)
Cash flows from investing activities    
Purchase of property and equipment (2,705) (1,969)
Capitalized software development costs (19,330) (14,061)
Capitalized curriculum development costs (7,461) (7,524)
Sale of long-lived assets   223
Sale of other investments 5,261  
Acquisition of MedCerts, LLC, net of cash acquired   (54,775)
Acquisition of Tech Elevator, Inc., net of cash acquired   (15,981)
Other acquisitions, loans and investments, net of distributions (3,956) (188)
Proceeds from the maturity of marketable securities 7,248  
Purchases of marketable securities (38,720)  
Net cash used in investing activities (59,663) (94,275)
Cash flows from financing activities    
Repayments on finance lease obligations (14,744) (11,455)
Repayments on credit facility   (100,000)
Issuance of convertible senior notes, net of issuance costs   408,610
Purchases of capped calls in connection with convertible senior notes   (60,354)
Payments of deferred purchase consideration (7,858)  
Proceeds from exercise of stock options 246 303
Withholding of stock options for tax withholding   (10,885)
Repurchase of restricted stock for income tax withholding (35,404) (6,108)
Net cash provided by (used in) financing activities (57,760) 220,111
Net change in cash, cash equivalents and restricted cash (129,091) 45,879
Cash, cash equivalents and restricted cash, beginning of period 386,582 213,299
Cash, cash equivalents and restricted cash, end of period $ 257,491 $ 259,178