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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities      
Net income $ 287,941 $ 204,183 $ 126,867
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 114,669 109,683 110,358
Stock-based compensation expense 36,794 31,462 20,320
Deferred income taxes (17,783) 2,890 (10,373)
Provision for credit losses 15,267 22,844 9,158
Amortization of fees on debt 1,647 1,640 1,597
Noncash operating lease expense 12,265 14,246 14,728
Impairment of long-lived assets 59,478    
Other (596) 849 (1,966)
Changes in assets and liabilities:      
Accounts receivable (102,188) (32,056) (54,908)
Inventories, prepaid expenses, deposits and other current and long-term assets (6,239) (8,877) (19,389)
Accounts payable 310 (6,844) (11,999)
Accrued liabilities 40,915 (16,556) 24,132
Accrued compensation and benefits 9,913 7,394 (15,473)
Operating lease liability (12,396) (14,990) (12,243)
Deferred revenue and other liabilities (7,181) (37,071) 22,341
Net cash provided by operating activities 432,816 278,797 203,150
Cash flows from investing activities      
Purchase of property and equipment (1,781) (2,270) (4,336)
Capitalized software development costs (36,428) (40,653) (44,973)
Capitalized curriculum development costs (21,801) (18,666) (17,239)
Sale of other investments     60
Acquisition of assets     (1,409)
Other acquisitions, loans and investments, net of distributions (20,682) (5,196) (1,652)
Proceeds from the maturity of marketable securities 252,930 204,487 91,879
Purchases of marketable securities (260,233) (277,573) (140,570)
Net cash used in investing activities (87,995) (139,871) (118,240)
Cash flows from financing activities      
Repayments on finance lease obligations (41,469) (40,919) (42,956)
Payments of contingent consideration     (7,024)
Proceeds from exercise of stock options     20
Repurchase of restricted stock for income tax withholding (21,469) (8,200) (13,541)
Net cash used in financing activities (62,938) (49,119) (63,501)
Net change in cash, cash equivalents and restricted cash 281,883 89,807 21,409
Cash, cash equivalents and restricted cash, beginning of period 500,614 410,807 389,398
Cash, cash equivalents and restricted cash, end of period $ 782,497 $ 500,614 $ 410,807