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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 19,839 $ 14,252
Loss from discontinued operations 7,607 3,156
Income from continuing operations 27,446 17,408
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 4,004 5,223
Amortization and adjustments to operating lease assets 14,639 12,804
Depreciation 8,975 8,393
Amortization of intangible assets 2,518 2,534
Amortization of deferred debt issuance costs 392 392
Provision for bad debts 1,723 5,554
Deferred income taxes 4,346 2,954
Loss on disposals, accelerated depreciation, and adjustments to property and equipment 1,486 1,053
Realized and unrealized gain on investments (518) (22)
Realized gain on sale of assets 0 (4,779)
Changes in assets and liabilities:    
Accounts receivable (13,356) (38,206)
Prepaid expenses and other current assets (1,735) (13,646)
Accounts payable 2,089 (7,566)
Accrued payroll and benefits (17,341) (16,593)
Accrued liabilities (443) (2,417)
Deferred revenue 76,664 72,589
Operating lease liabilities (12,700) (13,681)
Other assets and liabilities (13,535) 1,482
Net cash provided by operating activities-continuing operations 84,654 33,476
Net cash (used in) provided by operating activities-discontinued operations (4,727) 13,992
Net cash provided by operating activities 79,927 47,468
Investing activities:    
Capital expenditures (14,443) (10,436)
Proceeds from sales of marketable securities 1,014 290
Purchases of marketable securities (963) (292)
Proceeds from sale of assets 0 6,421
Net cash used in investing activities-continuing operations (14,392) (4,017)
Net cash used in investing activities-discontinued operations 0 (1,728)
Net cash used in investing activities (14,392) (5,745)
Financing activities:    
Proceeds from exercise of stock options 55 828
Employee taxes paid on withholding shares (3,921) (5,045)
Proceeds from stock issued under Colleague Stock Purchase Plan 31 0
Repurchases of common stock for treasury 0 (40,255)
Borrowings under credit facility 0 30,000
Repayments under credit facility (750) (100,750)
Proceeds from down payment on seller loan 0 5,200
Payment for purchase of redeemable noncontrolling interest of subsidiary 0 (6,247)
Net cash used in financing activities-continuing operations (4,585) (116,269)
Net cash used in financing activities-discontinued operations 0 (480)
Net cash used in financing activities (4,585) (116,749)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 62 (6,750)
Net increase (decrease) in cash, cash equivalents and restricted cash 61,012 (81,776)
Cash, cash equivalents and restricted cash at beginning of period 501,105 300,467
Cash, cash equivalents and restricted cash at end of period 562,117 218,691
Less: cash, cash equivalents and restricted cash of discontinued operations at end of period 0 96,902
Cash, cash equivalents and restricted cash at end of period $ 562,117 $ 121,789