XML 21 R6.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2017
USD ($)
CASH FLOW FROM OPERATING ACTIVITIES:      
Net Income $ 95,581 $ 34,297 $ 123,280
Loss (Income) from Discontinued Operations 40,443 80,146 (2,309)
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Stock-Based Compensation Expense 13,217 14,499 16,600
Depreciation 43,029 43,286 45,805
Amortization of Intangible Assets 8,712 9,538 11,169
Amortization of Deferred Debt Issuance Costs 1,566 2,273 704
Impairment of Intangible Assets 0 400 0
Provision for Bad Debts 19,141 16,920 19,002
Deferred Income Taxes 20,761 (10,595) 3,797
Loss on Disposals, Accelerated Depreciation and Adjustments to Land, Building and Equipment 45,862 31,728 10,507
Realized Loss on Investments 207 0 0
Unrealized Gain on Investments (54) 0 0
Insurance Settlement Gain (15,571) 0 0
Changes in Assets and Liabilities:      
Accounts Receivable (27,706) (26,413) (41,829)
Prepaid Expenses and Other (24,300) 16,793 (9,647)
Accounts Payable 9,199 9,964 3,846
Accrued Salaries, Wages, Benefits and Liabilities 6,451 (4,938) 9,500
Deferred Revenue (10,089) 3,382 11,334
Net Cash Provided by Operating Activities-Continuing Operations 226,449 221,280 201,759
Net Cash (Used in) Provided by Operating Activities-Discontinued Operations (21,591) 17,909 29,161
NET CASH PROVIDED BY OPERATING ACTIVITIES 204,858 239,189 230,920
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital Expenditures (64,751) (66,530) (42,508)
Insurance Proceeds Received for Damage to Buildings and Equipment 35,706 0 0
Sales of Marketable Securities 1,841 0 0
Purchases of Marketable Securities (6,321) (159) (93)
Payment for Purchase of Businesses, Net of Cash Acquired (118,409) (4,041) (330,567)
Payment for Investment in Business 0 (5,000) 0
Loan to DeVry University (Note 2) (10,000) 0 0
Net Cash Used in Investing Activities-Continuing Operations (161,934) (75,730) (373,168)
Net Cash (Used in) Provided by Investing Activities-Discontinued Operations (1,833) 4,280 (6,486)
Cash and Restricted Cash Transferred in Divestitures of Discontinued Operations (50,069) 0 0
NET CASH USED IN INVESTING ACTIVITIES (213,836) (71,450) (379,654)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Exercise of Stock Options 16,994 23,821 27,675
Employee Taxes Paid on Withholding Shares (6,801) (4,203) (2,956)
Proceeds from Stock Issued Under Colleague Stock Purchase Plan 421 803 865
Repurchase of Common Stock for Treasury (252,852) (137,028) (48,508)
Cash Dividends Paid 0 0 (11,414)
Payments of Seller Financed Obligations (2,295) (11,413) (4,819)
Borrowings Under Credit Facility 135,000 578,000 527,000
Repayments Under Credit Facility (28,000) (403,000) (402,000)
Payment of Debt Issuance Costs 0 (9,871) 0
Capital Investment from Noncontrolling Interest 0 95 0
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (137,533) 37,204 85,843
Effects of Exchange Rate Differences 2,573 (11,634) (1,360)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (143,938) 193,309 (64,251)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 444,405 251,096 315,347
Cash, Cash Equivalents and Restricted Cash at End of Period 300,467 444,405 251,096
Less: Cash, Cash Equivalents and Restricted Cash of Discontinued Operations at End of Period 0 13,405 9,358
Cash, Cash Equivalents and Restricted Cash at End of Period 300,467 431,000 241,738
Cash Paid During the Year For:      
Interest 20,410 11,505 7,325
Income Taxes, Net 3,230 8,365 14,901
Non-cash Investing and Financing Activity:      
Increase (Decrease) in Redemption Value of Noncontrolling Interest Put Options $ 20 $ (1,872) $ 176