XML 22 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities      
Net income $ 204,183 $ 126,867 $ 107,130
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 109,683 110,358 97,914
Stock-based compensation expense 31,462 20,320 18,570
Deferred income taxes 2,890 (10,373) 1,190
Provision for credit losses 22,844 9,158 15,673
Amortization of fees on debt 1,640 1,597 1,573
Noncash operating lease expense 14,246 14,728 19,810
Other 849 (1,966) 9,949
Changes in assets and liabilities:      
Accounts receivable (32,056) (54,908) (57,501)
Inventories, prepaid expenses, deposits and other current and long-term assets (8,877) (19,389) 4,798
Accounts payable (6,844) (11,999) 11
Accrued liabilities (16,556) 24,132 7,598
Accrued compensation and benefits 7,394 (15,473) (7,465)
Operating lease liability (14,990) (12,243) (20,742)
Deferred revenue and other liabilities (37,071) 22,341 8,376
Net cash provided by operating activities 278,797 203,150 206,884
Cash flows from investing activities      
Purchase of property and equipment (2,270) (4,336) (9,748)
Capitalized software development costs (40,653) (44,973) (42,191)
Capitalized curriculum development costs (18,666) (17,239) (15,687)
Sale of other investments   60 5,261
Acquisition of assets   (1,409)  
Other acquisitions, loans and investments, net of distributions (5,196) (1,652) (3,899)
Proceeds from the maturity of marketable securities 204,487 91,879 40,163
Purchases of marketable securities (277,573) (140,570) (84,657)
Net cash used in investing activities (139,871) (118,240) (110,758)
Cash flows from financing activities      
Repayments on finance lease obligations (40,919) (42,956) (33,011)
Payments of contingent consideration   (7,024)  
Payments of deferred purchase consideration     (22,858)
Proceeds from exercise of stock options   20 414
Repurchase of restricted stock for income tax withholding (8,200) (13,541) (37,855)
Net cash used in financing activities (49,119) (63,501) (93,310)
Net change in cash, cash equivalents and restricted cash 89,807 21,409 2,816
Cash, cash equivalents and restricted cash, beginning of period 410,807 389,398 386,582
Cash, cash equivalents and restricted cash, end of period $ 500,614 $ 410,807 $ 389,398