XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES:    
Net income (loss) $ 40,049 $ (6,273)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 40,638 41,556
Deferred income tax expense (benefit) 34,040 (11,217)
Share-based compensation 7,018 5,962
Excess tax benefits on share-based compensation awards   (725)
Intangible asset impairment charge   88,084
Loss on sale of assets 777 296
Loss on sale of intangible asset 15,514  
Gain on investment securities (3,201) (2,473)
Amortization of debt discount and other debt issuance costs 17,294 15,548
Settlement agreement provision   4,000
Other noncash expenses 4 1,889
Changes in assets and liabilities which provided (used) cash:    
Accounts receivable, net (34,701) (9,470)
Inventories (10,686) (8,913)
Prepaid income taxes/Income taxes payable (77) (9,891)
Other assets (7,972) (6,480)
Rebates payable (3,326) 12,773
Royalties payable 6,525 (1,196)
Restructuring liability (2,103) 840
Settlement liability   (3,000)
Accounts payable 5,781 11,567
Accrued expenses (6,667) (1,785)
Accrued payroll and payroll-related expenses 4,485 (633)
Net cash provided by operating activities 103,392 120,459
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (41,147) (32,116)
Proceeds from sale of property, plant and equipment 35 38
Advance to variable interest entity (9,955)  
Purchases of intangible assets (7,038)  
Proceeds from sale of investment securities 83,833 44,571
Purchase of investment securities (62,630) (50,538)
Net cash used in investing activities (36,902) (38,045)
FINANCING ACTIVITIES:    
Repayments of short-term borrowings and long-term debt (68,994) (139,927)
Purchase of noncontrolling interest   (1,500)
Acquisition-related contingent consideration   (35,000)
Proceeds from issuance of stock 3,579 2,276
Excess tax benefits on share-based compensation awards   725
Purchase of treasury stock (4,568) (1,840)
Net cash used in financing activities (69,983) (175,266)
Effect on cash and cash equivalents of changes in foreign exchange rates (228) 114
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,721) (92,738)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 117,737 224,769
CASH AND CASH EQUIVALENTS, END OF PERIOD 114,016 132,031
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid (net of capitalized interest of $1.6 million and $1.1 million for the nine months ended March 31, 2018 and 2017, respectively) 46,740 51,422
Income taxes paid (received) (6,760) 19,116
Credits issued pursuant to a Settlement Agreement $ 17,000 $ 2,500