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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities      
Net earnings (loss) $ 306.6 $ (234.3) $ 46.3
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities      
Depreciation 72.3 77.0 92.5
Amortization 90.7 142.9 155.1
Non-cash lease expense 35.5 38.3 0.0
Share-based compensation 17.5 13.9 22.9
Amortization of original issue discount and debt issuance costs 12.6 6.8 7.8
Deferred income taxes (10.9) (48.7) 66.0
Amortization of broadcast rights 15.8 19.0 20.0
Write-down of impaired assets 0.0 405.3 50.3
Loss on extinguishment of debt 11.9 0.0 18.4
Fair value adjustment to contingent consideration (0.1) 0.0 (5.3)
Gain on sale of assets, net (98.6) (13.4) (10.2)
Other operating activities, net 0.7 0.2 0.0
Changes in assets and liabilities, net of acquisitions/dispositions      
Accounts receivable (25.1) 161.6 (69.3)
Inventories 4.9 28.5 (18.4)
Other current assets 0.8 27.8 57.4
Subscription acquisition costs 28.9 33.2 (312.0)
Broadcast rights (15.7) (18.5) (19.1)
Other assets (16.0) (3.8) (21.9)
Assets and liabilities held-for-sale 0.0 14.6 (18.6)
Operating lease liabilities (35.6) (36.1) 0.0
Accounts payable 62.8 (118.8) 36.2
Accrued expenses and other liabilities 1.9 (129.3) (99.5)
Unearned subscription revenues (54.2) (62.0) 251.6
Other noncurrent liabilities (8.1) 2.4 (4.9)
Net cash provided by operating activities 398.6 306.6 245.3
Cash flows from investing activities      
Net proceeds from disposition of assets, net of cash sold 64.3 78.3 349.1
Additions to property, plant, and equipment (35.2) (55.4) (46.4)
Proceeds received in advance of sale of business 0.0 0.0 90.0
Acquisitions of and investments in businesses, net of cash acquired 0.0 (23.1) (18.4)
Other 10.4 3.3 0.0
Net cash provided by investing activities 39.5 3.1 374.3
Cash flows from financing activities      
Proceeds from issuance of long-term debt 0.0 1,085.0 210.0
Repayments of long-term debt (262.7) (410.0) (1,037.0)
Redemption of preferred stock 0.0 (722.0) 0.0
Redemption of warrants (67.0) 0.0 0.0
Dividends paid 0.0 (139.5) (161.9)
Purchases of Company stock (2.9) (4.7) (10.0)
Proceeds from common stock issued 3.6 1.9 4.6
Payment of acquisition related contingent consideration (1.0) 0.0 (19.3)
Debt original issue discount and issuance costs 0.0 (26.6) 0.0
Financing lease payments (0.8) (0.8) 0.0
Net cash used in financing activities (330.8) (216.7) (1,013.6)
Effect of exchange rate changes on cash and cash equivalents 0.5 (0.5) (1.4)
Change in cash held-for-sale 0.0 (5.1) 2.8
Net increase (decrease) in cash and cash equivalents 107.8 87.4 (392.6)
Cash and cash equivalents at beginning of year 132.4 45.0 437.6
Cash and cash equivalents at end of year 240.2 132.4 45.0
Cash paid (received)      
Interest 166.8 135.0 171.9
Income taxes $ 172.2 $ 43.3 $ (11.7)