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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Operating activities:      
Net income $ 162,196 $ 139,951 $ 118,407
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,405 6,061 6,216
Net foreign currency gains (1,036) (3,666) (1,552)
Stock-based compensation expense 18,800 15,727 14,584
Deferred income taxes (4,286) 2,499 20,112
Provision for (recovery from) bad debts 199 260 (513)
Tax benefits from stock-based compensation (5,965) (2,208) (37,024)
Excess tax benefits from stock-based compensation (5,965) (2,208) (37,024)
Other non-cash operating activities 602 321 1,619
Changes in assets and liabilities, excluding initial effects of acquisitions:      
Accounts receivable (7,480) 9,382 8,028
Prepaid expenses, prepaid income taxes, and other assets (2,421) (6,106) 4,232
Accounts payable, accrued expenses, income taxes payable and other liabilities (9,070) (4,489) 5,933
Deferred revenue 18,477 (6,196) 14,919
Net cash provided by operating activities 182,386 153,744 191,985
Investing activities:      
Purchases of marketable securities (683,748) 0 (50,065)
Maturities of marketable securities 686,346 58,973 85,535
Purchase of property, equipment and leasehold improvements (2,720) (3,483) (7,645)
Payments for business acquisitions, net of cash acquired (36,171) (8,000) 0
Payments for capitalized computer software costs (405) (269) (359)
Net cash (used in) provided by investing activities (36,698) 47,221 27,466
Financing activities:      
Exercise of stock options 9,273 3,924 4,662
Repurchases of common stock (371,491) (178,604) (297,246)
Payment of tax withholding obligations related to restricted stock (5,764) (4,480) (5,699)
Excess tax benefits from stock-based compensation 5,965 2,208 37,024
Proceeds from credit agreement 0 140,000 0
Payments of credit agreement issuance costs 0 (1,707) 0
Net cash used in financing activities (362,017) (38,659) (261,259)
Effect of exchange rate changes on cash and cash equivalents (53) (219) (1,469)
(Decrease) increase in cash and cash equivalents (216,382) 162,087 (43,277)
Cash and cash equivalents, beginning of year 318,336 156,249 199,526
Cash and cash equivalents, end of year 101,954 318,336 156,249
Supplemental disclosure of cash flow information:      
Income tax paid, net 65,536 69,028 3,712
Interest paid 3,444 963 30
Supplemental disclosure of non-cash investing and financing activities:      
Change in landlord improvement allowance included in leasehold improvements and deferred rent liability 0 0 6,064
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses (47) (825) 675
Change in common stock repurchases included in accounts payable and accrued expenses $ 3,509 $ 1,462 $ 1,098