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CONSOLIDATED STATEMENT OF CASH FLOWS
$ in Thousands
12 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Cash flows from operating activities:      
Net (loss) income $ (171,362) $ (14,226) $ 6,436
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Non-cash adjustments related to discontinued operations (1,098) 306 38,826
Depreciation and amortization 33,101 33,261 39,433
Depreciation related to discontinued operations 0 0 3,738
Long-lived asset impairment 3,851 4,587 11,092
Long-lived asset impairment 22,560 0 0
Deferred income taxes (3,934) (9,812) (80,241)
Gain on life insurance proceeds 0 0 (7,986)
Gain from sale of company headquarters, net (2,513) 0 0
Loss (gain) from sale of salon assets to franchisees, net 27,306 (2,918) (241)
Non-cash TBG mall location restructuring charge (Note 3) 0 21,008 0
Goodwill impairment 40,164 0 0
Accumulated other comprehensive income reclassification adjustments (Note 3) 0 0 6,152
Stock-based compensation 3,275 9,003 8,269
Amortization of debt discount and financing costs 398 275 4,080
Other non-cash items affecting earnings (539) (903) (294)
Changes in operating assets and liabilities:      
Receivables (3,902) [1] (17,304) [1] (12,081) [1]
Inventories (2,255) [1] (8,492) [1] 13,940 [1]
Income tax receivable (1,804) [1] (703) [1] 527 [1]
Other current assets 2,827 [1] (783) [1] 239 [1]
Other assets (10,094) [1] (5,546) [1] (11,229) [1]
Accounts payable 4,588 [1] (5,836) [1] (1,103) [1]
Accrued expenses (27,622) [1] (20,158) [1] (10,940) [1]
Net lease liabilities 276 [1] 0 [1] 0 [1]
Other non-current liabilities 368 [1] 717 [1] (6,027) [1]
Net cash (used in) provided by operating activities: (86,409) (17,524) 2,590
Cash flows from investing activities:      
Capital expenditures (37,494) (31,616) (29,571)
Capital expenditures related to discontinued operations 0 0 (1,171)
Proceeds from sale of company headquarters 8,996 0 0
Proceeds from sale of assets to franchisees 91,616 94,787 11,582
Costs associated with sale of assets to franchisees (2,089) 0 0
Proceeds from company-owned life insurance policies 0 24,617 18,108
Net cash provided by (used in) investing activities: 61,029 87,788 (1,052)
Cash flows from financing activities:      
Borrowings on revolving credit facility 213,000 0 90,000
Repayments of revolving credit facility (125,500) 0 (124,230)
Repurchase of common stock (28,246) (152,661) (24,798)
Proceeds from sale and leaseback transactions 0 28,821 0
Sale and leaseback payments (769) (378) 0
Taxes paid for shares withheld (2,320) (2,477) (2,413)
Settlement of equity awards 0 0 (794)
Net cash provided by (used in) financing activities: 56,165 (126,695) (62,235)
Effect of exchange rate changes on cash and cash equivalents (284) 35 (514)
Increase (decrease) in cash, cash equivalents and restricted cash 30,501 (56,396) (61,211)
Cash, cash equivalents and restricted cash:      
Beginning of year 122,880 92,379 148,775
Cash and cash equivalents included in current assets held for sale   0 0
Beginning of year 92,379 148,775 209,986
End of year $ 122,880 $ 92,379 $ 148,775
[1] Changes in operating assets and liabilities exclude assets and liabilities sold or acquired.