XML 17 R5.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities:    
Net income (loss) $ 19 $ 31,874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 10,836 11,337
Amortization 4,212 1,707
(Gain) loss on sales of assets (165) 75
Restructuring and asset impairment charges 1,916 2,954
Deferred income tax and other deferred charges (491) (500)
Stock-based compensation 4,048 3,850
Other, net (1,440) 3,043
Change in operating assets and liabilities:    
Receivables 24,055 (5,815)
Inventories 7,057 (3,898)
Prepaid expenses and other current assets (1,991) (960)
Accounts payable (9,391) (7,929)
Customer deposits 2,636 2,766
Accrued expenses (13,971) (21,136)
Net cash provided by operating activities 27,330 17,368
Cash Flows From Investing Activities:    
Capital expenditures (8,968) (16,132)
Proceeds from sales of assets 498 138
Cash paid for acquisition (101,478) 0
Purchases of capitalized software (4,940) (3,011)
Purchases of available-for-sale securities (10,000) (24,977)
Maturities of available-for-sale securities 14,750 44,488
Other, net 74 (818)
Net cash used for investing activities (110,064) (312)
Cash Flows From Financing Activities:    
Proceeds from short-term debt 40,000 0
Repayments of long-term debt (28) (25)
Dividends paid to shareholders (9,969) (9,607)
Repurchases of Common Stock (2,077) (3,004)
Repurchase of employee shares for tax withholding (258) (976)
Net cash provided by (used for) financing activities 27,668 (13,612)
Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash [1] (55,066) 3,444
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at Beginning of Period [1] 92,444 73,837
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at End of Period [1] 37,378 77,281
Non-cash items:    
Contingent earn-out liability for Poppin, Inc. acquisition 31,790 0
Cash paid during the period for:    
Income taxes 6,239 10,406
Interest expense $ 211 $ 15
[1] The following table reconciles cash and cash equivalents in the balance sheets to cash, cash equivalents, and restricted cash per the statements of cash flows. The restricted cash included in other assets on the balance sheet represents amounts pledged as collateral for a long-term financing arrangement as contractually required by a lender. The restriction will lapse when the related long-term debt is paid off. Restricted cash also included customer deposits held due to a foreign entity being classified as a restricted entity by a government agency subsequent to our receipt of the deposit and cash held in escrow for repayment of the Payment Protection Program loan that Poppin, Inc. obtained prior to its acquisition.